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Corporate Fraud

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  • CNBC's Schacknow: Legal Maneuvers; the Greenspan Gap Thursday, 24 May 2007 | 5:54 PM ET

    We pride ourselves in being able to pick out the news when presented with “raw data” -- be it a live speech, event, interview, or enterprise story. I do have to admit, however, there is one form of “raw” news that I find a bit intimidating: the legal document. ... And: We’re still abuzz today over the market’s Wednesday tanking at the hands of former Fed chairman Alan Greenspan. Our show producers often ask me why the markets made a sudden move, but yesterday’s drop from early gains was downright baffling at first...

  • One of the more fascinating stories of recent years came to a close today, when a former Coca-Cola secretary was sentenced to eight years for trying to steal Coke trade secrets. Joya Williams attempted to sell those secrets to rival PepsiCo for $1.5 million dollars, but was foiled when some very ethical Pepsi employees called Coke to let them in on the scheme. ... Also: Procter & Gamble thinks there might be an opportunity in flavored water -- that comes out of your tap.

  • Jobs and Shareholders Thursday, 10 May 2007 | 3:07 PM ET

    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.

  • Shareholders Rejoice! But Should They? Wednesday, 9 May 2007 | 1:38 PM ET

    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.

  • Embattled Siemens Board Wants to Replace CEO: FT Monday, 23 Apr 2007 | 7:20 PM ET

    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.

  • Kozlowski Says He's "Absolutely Not Guilty" - CBS Monday, 26 Mar 2007 | 9:25 AM ET

    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.

  • Hyundai Motor Affiliates Drop on Tax Investigation Sunday, 25 Mar 2007 | 10:29 PM ET

    Affiliates of South Korea's biggest automaker Hyundai Motor fell on Monday after local authorities launched an investigation into suspected tax evasion.

  • Total's CEO Charged in Iran Probe Friday, 23 Mar 2007 | 3:49 AM ET

    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.

  • Oxley: Don't Blame SarBox For IPO Drop Friday, 9 Mar 2007 | 2:56 PM ET

    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 HP Board Members Engage in War of Words: WSJ Wednesday, 28 Feb 2007 | 7:03 PM ET

    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.

  • Where's The "Real" News On Apple? Friday, 12 Jan 2007 | 12:52 PM ET

    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 Adjusts '06 Profit Tuesday, 12 Dec 2006 | 3:47 AM ET

    Siemens adjusted its net income for fiscal year 2006 because of more tax charges related to an ongoing corruption scandal.