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Corporate Fraud

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  • NEW HAVEN, Conn., March 4- Lawyers for Jesse Litvak wrapped up their defense of the former Jefferies Group Inc trader on federal fraud charges without his taking the stand, putting the case on track to go to the jury by late Wednesday.

  • NEW YORK, March 4- Steven Donziger, the Harvard- educated lawyer who has waged a two-decade battle against Chevron Corp over pollution in the Amazonian jungle in Ecuador, is not one to accept defeat quietly.

  • Cybercrime hits financial firms hardest - survey Monday, 3 Mar 2014 | 7:01 PM ET

    LONDON, March 4- Cybercrime is the second most common type of fraud reported by financial firms, more than double the level across other industries, as criminals turn increasingly to technology as their main weapon against banks, a survey showed.

  • NEW YORK, March 2- The U.S. Securities and Exchange Commission is investigating Citigroup for accounting fraud after it disclosed bogus loans in its Mexican Banamex unit, a source familiar with the investigation said. The securities regulator is also examining whether Citigroup violated the Foreign Corrupt Practices Act, the source said.

  • Feb 28- Citigroup Inc said on Friday that it discovered fraudulent loans in its Mexico subsidiary and that its employees may have been in on the crime. Citigroup said it believes at this point that the incident was an isolated episode.

  • Mt. Gox sued in United States over bitcoin losses Friday, 28 Feb 2014 | 12:50 PM ET

    In a complaint filed on Thursday in U.S. District Court in Chicago, plaintiff Gregory Greene said Mt. Gox and its chief executive, Mark Karpeles, were negligent and committed fraud for having failed to protect the Tokyo- based exchange from theft.

  • NEW YORK, Feb 27- Ponzi scheme. Bongiorno is one of five former Madoff workers on trial in federal court in Manhattan for abetting his fraud, which fell apart in December 2008, costing investors an estimated $17 billion in principal losses.

  • *Jesse Litvak accused of securities fraud, TARP fraud. NEW HAVEN, Conn., Feb 27- Lawyers defending Jesse Litvak at the former Jefferies Group Inc trader's federal fraud trial on Thursday accused the firm of firing him and then helping prosecutors out of concern that it might otherwise lose a major client.

  • NEW HAVEN, Conn., Feb 27- Lawyers defending Jesse Litvak at the former Jeffries Group Inc trader's federal fraud trial on Thursday accused the firm of firing him and then helping prosecutors out of concern that it might otherwise lose a major client.

  • Big steps toward curbing overseas tax evasion Thursday, 27 Feb 2014 | 12:55 PM ET

    This past week saw important steps in the effort to combat offshore tax avoidance, a Treasury official explains.

  • NEW YORK, Feb 26- Bank of America Corp said it does not owe the U.S. government the $2.1 billion it is seeking in penalties after a jury found the bank liable for fraud over defective mortgages sold by its Countrywide unit, according to a court filing made on Wednesday.

  • NEW HAVEN, Conn., Feb 26- A former supervisor of onetime Jefferies Group Inc trader Jesse Litvak, who is on trial on federal fraud charges, testified on Wednesday that traders sometimes used coded language to conceal trades whose prices were not necessarily best for clients.

  • WASHINGTON, Feb 26- American consumers are wide open to some of the most sophisticated scam artists ever as vast troves of their personal information are collected by data brokers and sometimes sold with no questions asked, according to the Federal Trade Commission's consumer protection chief.

  • Feb 25- Zynga Inc has won the dismissal of a lawsuit in which shareholders accused the online gaming company of fraudulently misleading them about its financial and business prospects before and after its December 2011 initial public offering.

  • NEW HAVEN, Conn., Feb 25- Jesse Litvak, a former trader at Jefferies Group Inc, made extra commissions and profits by defrauding big Wall Street firms such as JPMorgan Chase& Co and AllianceBernstein Holding LP on bond trades, a U.S. Treasury Department agent testified at Litvak's fraud trial.

  • NEW HAVEN, Conn., Feb 25- Jesse Litvak, a former trader at Jefferies Group Inc, made extra commissions and profits by defrauding big Wall Street firms such as JPMorgan Chase& Co and AllianceBernstein Holding LP on bond trades, a U.S. Treasury Department agent said at Litvak's fraud trial.

  • Zynga wins dismissal of fraud lawsuit linked to IPO Tuesday, 25 Feb 2014 | 2:22 PM ET

    Feb 25- Zynga Inc has won the dismissal of a lawsuit in which shareholders accused the online gaming company of fraudulently misleading them about its financial and business prospects before and after its December 2011 initial public offering.

  • NEW YORK, Feb 24- Longtime Bernard Madoff assistant Annette Bongiorno on Monday testified that she had no idea her boss was operating a vast Ponzi scheme, despite the decades she spent helping run the trading business where it originated. her lawyer, Roland Riopelle, asked her.

  • Icahn says eBay 'in peril,' calls on board to quit Monday, 24 Feb 2014 | 10:34 AM ET
    Carl Icahn eyes Ebay Inc.

    Carl Icahn excoriated eBay in an open letter, charging the online auction company of "multiple lapses in governance."

  • NEW YORK, Feb 21- A former senior managing director at Evercore Group was charged on Friday with securities fraud and other violations for setting up trades in accounts held by an ex-girlfriend and a close relative based on secret information he collected at work, according to a court filing.

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