GO
Loading...

Enter multiple symbols separated by commas

Corporate Fraud

More

  • NEW YORK, April 14- Former Freddie Mac Chief Executive Officer Richard Syron and two other executives have agreed to settle a lawsuit by the U.S. Securities and Exchange Commission accusing them of misleading investors ahead of the 2008 financial crisis. Like other regulators, the SEC has been criticized for not holding enough top executives liable for...

  • Ex-Freddie Mac executives settle SEC fraud lawsuit Tuesday, 14 Apr 2015 | 1:30 PM ET

    NEW YORK, April 14- Former Freddie Mac Chief Executive Officer Richard Syron and two other one-time executives have reached a settlement in a lawsuit by the U.S. Securities and Exchange Commission accusing them of misleading investors about the company's exposure to risky mortgage loans. The settlement, disclosed in court papers filed in Manhattan federal...

  • NEW YORK, April 13- Billionaire investor William Ackman, who has long accused Herbalife Ltd of being a fraud, said on Monday that the top executives at the nutrition and supplements company are hiring their own lawyers as government investigations pick up pace. Ackman's $20 billion Pershing Square Capital Management made a $1 billion short bet against...

  • The changes approved by the U.S. Sentencing Commission will take effect on Nov. 1 unless Congress objects. "These amendments emphasize substantial financial harms to victims rather than simply the mere number of victims and recognize concerns regarding double-counting and over-emphasis on loss," said Chief Judge Patti Saris of the federal court in...

  • Serial scammer could spend rest of life behind bars

    Hundreds of victims were left begging for their money from William C. Lange, the founder of Harbor Funding Group, Inc., reports CNBC's Andrea Day.

  • MUMBAI, April 9- An Indian court on Thursday held the founder of Satyam Computer Services, which was once one of India's biggest IT outsourcing companies, guilty in the country's biggest corporate accounting fraud, local television channels reported. The court is yet to announce the quantum of punishment in the case, the TV channels reported.

  • NEW YORK, April 1- A New York lawyer was charged on Wednesday over his alleged role in a scheme by a former United Parcel Service Inc executive's son to fraudulently obtain millions of dollars to finance the purchase of Maxim magazine. Harvey Newkirk, a former lawyer at the law firm Bryan Cave LLP, was charged in a criminal complaint filed in Manhattan federal court...

  • NEW YORK, April 1- A New York lawyer was arrested on Wednesday for his alleged role in a scheme by the son of a former United Parcel Service Inc executive to fraudulently obtain millions of dollars to finance the purchase of Maxim magazine, the lawyer's counsel said. Harvey Newkirk, a former lawyer at the law firm Bryan Cave LLP, was charged in a criminal complaint...

  • In a complaint filed in Manhattan federal court, Tilton and her firm Patriarch Partners LLC said the SEC violated the U.S. Critics of administrative proceedings, which are handled by judges on the SEC payroll, say they can be unfair to defendants because discovery is limited, defense lawyers generally cannot take depositions, and there are no juries.

  • Ex-Autonomy management to file claim vs. HP   Tuesday, 31 Mar 2015 | 10:06 AM ET
    Ex-Autonomy management to file claim vs. HP

    Hewlett-Packard is suing Autonomy co-founder Michael Lynch in the U.K. for $5.1 billion, reports CNBC's David Faber.

  • Stanford's victims accused the SEC of negligence for having waited until 2009 to uncover the Ponzi scheme, despite having had evidence of it as early as 1997.. But the court said the SEC had discretion to decide how to enforce securities laws, and could not be liable for certain misrepresentations. Victims claimed that the SEC thought Stanford's business was a...

  • 2 Former federal agents charged with wire fraud   Monday, 30 Mar 2015 | 12:24 PM ET
    2 Former federal agents charged with wire fraud

    Two former federal agents have been charged with wire fraud, money laundering and stealing digital currency, reports CNBC's Sue Herera.

  • Fraud charges against Patriarch Partners CEO   Monday, 30 Mar 2015 | 10:11 AM ET
    Fraud charges against Patriarch Partners CEO

    CNBC's Robert Frank reports on fraud charges against Lynn Tilton, CEO of Patriarch Partners.

  • *Judge orders Wanxiang to cease court case in Shanghai. LONDON, March 26- Trading house Trafigura and China's Wanxiang Resources are expected to agree to arbitration in Hong Kong for a dispute linked to alleged metals financing fraud after sparring over jurisdiction, lawyers for the firms said. Justice Blair at England's High Court encouraged the two sides to...

  • March 26- Zynga Inc must face a lawsuit that accuses the gaming company known for its "FarmVille" game of defrauding shareholders about its prospects before and after its December 2011 initial public offering. District Judge Jeffrey White in San Francisco said on Wednesday that shareholders could pursue claims that Zynga concealed declining user activity,...

  • Zynga must face lawsuit alleging fraud tied to IPO Thursday, 26 Mar 2015 | 10:47 AM ET

    March 26- Zynga Inc must face a lawsuit accusing the online gaming company known for "FarmVille" of defrauding shareholders about its prospects before and after its December 2011 initial public offering. District Judge Jeffrey White in San Francisco on Wednesday said shareholders could pursue claims that Zynga concealed declining user activity, masked how...

  • SAN FRANCISCO, March 25- The former chief operating officer of a major Chinese-American bank in San Francisco was convicted on Wednesday of several criminal counts, including securities fraud, over allegations he concealed deteriorating loans at the height of the 2008 financial crisis. Prosecutors accused former United Commercial Bank executive Ebrahim...

  • U.S. jury convicts former bank exec of securities fraud Wednesday, 25 Mar 2015 | 6:20 PM ET

    SAN FRANCISCO, March 25- A U.S. jury on Wednesday convicted former United Commercial Bank chief operating officer Ebrahim Shabudin of several criminal counts, including securities fraud, according to a court filing. UCB received $298.7 million from the government's Troubled Asset Relief Program during the financial meltdown and was the ninth-largest bank...

  • Whitman, the founder of Whitman Capital LLC in Menlo Park, California, is serving a two-year prison term for his August 2012 conviction on securities fraud and conspiracy charges. Prosecutors said he profited in trading in shares of Google Inc and video-conferencing company Polycom Inc based on illegal tips from people like former Intel Corp employee Roomy...

  • March 18- Herbalife Ltd won the dismissal of a lawsuit that claimed the maker of weight-loss and nutritional products fraudulently portrayed itself as a legitimate company, and that shareholders lost money because it was actually an illegal pyramid scheme. District Judge Dale Fischer in Los Angeles said on Monday that shareholders led by two pension funds...