HARTFORD, Conn.— A Venezuelan financier who ran a massive fraud scheme used investment funds as personal piggy banks to support a lavish lifestyle, including a $5 million home on Connecticut's Gold Coast, prosecutors said in a memo urging a federal judge to sentence him to at least 12 years in prison. The New Canaan home built by Francisco Illarramendi is so big it...» Read More
Apple's annual shareholder meeting was short on news, but long on drama with several investors grilling the Apple directors who did show up with questions about the stock options backdating scandal.Apple's entire directors' slate was re-elected, as expected. None of the shareholder resolutions passed, as expected.The fireworks and interesting nuggets came during the shareholder question-and-answer session.This is the first paragraph/short story.
Thursday of this week will be an unusual day for the world of tech. Both Apple and Google will each hold their annual shareholders meetings within ten miles and a few hours of each other. Tech's top two names will speak directly to their shareholders, yet the meetings may have decidedly different tones.
The FT Deutschland reports that Siemens is braced for further upheaval after it emerged that the German engineering group's supervisory board is seeking a new chief executive to replace Klaus Kleinfeld.
A judge has signed off on a restitution agreement requiring the former chief executive of Computer Associates International to pay at least $52 million - including proceeds from the sale of his yacht and pair of Ferraris - to victims of a huge accounting fraud at one of the world's largest software companies.
The U.S. Securities and Exchange Commission said on Wednesday that it charged two former in-house lawyers at Enron with securities fraud.
On Monday, federal prosecutors charged David A. Stockman and other former company executives with fraud and conspiracy in connection with alleged violations at the bankrupt auto parts maker.
ITT Corp. has agreed to plead guilty and pay a penalty of up to $100 million for illegally exporting night vision goggles in 2001 to China, Singapore and the United Kingdom, the U.S. Justice Department said on Tuesday.
Stockman was the former chairman and CEO of Michigan-based Collins & Aikman, which makes auto parts. He served as budget director under President Reagan.
Former Tyco International Chief Executive Dennis Kozlowski, who is serving a prison sentence of up to 25 years for looting the conglomerate, told CBS television he is "absolutely not guilty," according to excerpts from an interview to be broadcast Sunday.
Affiliates of South Korea's biggest automaker Hyundai Motor fell on Monday after local authorities launched an investigation into suspected tax evasion.
An investigating judge filed preliminary charges Thursday against the chief executive of Total in a corruption case linked to a 1997 contract with Iran, the company and judicial officials said.
A Republican who backs marketplace regulations might seem paradoxical -- but Michael Oxley, ex-GOP representative, co-authored the sweeping 2002 Sarbanes-Oxley Act. Does the former chairman of the House Financial Services Committee still approve of "SarBox"? He gave his views, on "Power Lunch."
Former Hewlett-Packard chairman Patricia Dunn and former HP board member Tom Perkins are engaged in a new war of words over last year’s leak scandal at the giant technology company, the Wall Street Journal reports.
Former Cendant Chairman Walter Forbes was sentenced on Wednesday to 12 years and seven months in prison and ordered to pay $3.3 billion for one of corporate Americas's biggest accounting scandals.
Friday morning, and we're waking up once again to a flurry of headlines surrounding the ongoing Apple Inc. stock options backdating controversy--the scandal that just won't go away. Dueling stories over the last 48 hours from the Wall Street Journal and the Washington Post, breathlessly reporting what appear to be new developments in the case. But pouring over the stories, I can't seem to find any news.
A former Tyco International executive agreed to pay $450,000 to settle financial reporting and record-keeping charges connected to a fraud case in which Tyco overstated income by more than $500 million, the U.S. Securities and Exchange Commission said on Thursday.
A U.S. federal appeals court denied former Enron Chief Executive Jeffrey Skilling's request to remain free pending his appeal Tuesday and ordered him to report to prison immediately.
Siemens adjusted its net income for fiscal year 2006 because of more tax charges related to an ongoing corruption scandal.
Former Enron president Jeffrey Skilling's prison check in has been temporarily delayed by a federal appellate court, The Wall Street Journal reported.