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Corporate Fraud

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  • Police raided the offices of Germany's Air Berlin as part of an investigation into claims of insider trading ahead of its acquisition of rival dba last year, the carrier said Tuesday.

  • Six-Year Sentence Sought for Hyundai Chief Tuesday, 19 Jun 2007 | 2:46 AM ET

    Prosecutors demanded a six-year prison term for Hyundai Motor Chairman Chung Mong-koo on Tuesday in his appeal trial against a three-year sentence handed down in February for embezzlement.

  • CNBC Exclusive: Kobi Alexander In Namibia Friday, 8 Jun 2007 | 11:46 AM ET

    CNBC Senior Correspondent Scott Cohn is on the trail of a controversial former corporate executive who prosecutors say has fled the country.  Cohn and a producer have traveled to the African nation of Namibia, searching for former Comverse CEO Jacob "Kobi" Alexander.  Cohn has filed his first video dispatch from Namibia and you can see it here only on CNBC.com.

  • CNBC Exclusive: The Search for Kobi Alexander Friday, 8 Jun 2007 | 9:36 AM ET

    CNBC Senior Correspondent Scott Cohn is on the trail of a controversial former corporate executive who prosecutors say has fled the country.  Cohn and a producer have traveled to the African nation of Namibia, searching for former Comverse CEO Jacob "Kobi" Alexander.  Cohn has filed his first video dispatch from Namibia and you can see it here only on CNBC.com.

  • SEC to Fine Nortel Over Accounting Fraud: Report Friday, 8 Jun 2007 | 6:20 AM ET

    U.S. securities regulators are planning to fine Nortel Networks  up to $100 million for accounting fraud, Bloomberg reported on its Web site on Friday.

  • Reporter's Diary: 'Kobi' Alexander's Namibia Thursday, 7 Jun 2007 | 5:40 PM ET

    Former Comverse Technology CEO Jacob “Kobi” Alexander has come to start a new life—and maybe avoid prosecution on options fraud charges in New York.

  • CNBC Exclusive: Kobi Alexander's Lawyer Thursday, 7 Jun 2007 | 12:08 PM ET

    CNBC Senior Correspondent Scott Cohn is in Namibia, searching for former Comverse CEO Jacob "Kobi" Alexander, who faces charges in the United States that he orchestrated a massive options backdating scheme.    In an exclusive interview, Cohn spoke with Richard Metcalfe, Alexander's lawyer in Namibia.

  • Judge Acquits Swissair Chiefs in Airline Collapse Thursday, 7 Jun 2007 | 6:20 AM ET

    A Swiss judge acquitted all 19 former executives of failed airline Swissair of criminal wrongdoing on Thursday, ending Switzerland's biggest-ever economic crime trial.

  • The French co-chairman of Airbus parent EADS, Arnaud Lagardere, was questioned for nine hours by stock market regulators as part of an inquiry into alleged insider trading, French media reported Wednesday.

  • 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.