NEW YORK, Nov 21- A U.S. judge on Friday gave final approval to Apple Inc's agreement to pay $450 million to resolve claims it harmed consumers by conspiring with five publishers to raise e-book prices. It calls for Apple to pay $400 million to as many as 23 million consumers if the company is unsuccessful in appealing a ruling that found it liable for antitrust...» Read More
The American Academy of Actuaries, the public face of a behind-the-scenes profession, is in disarray after quietly sacking its incoming president, then trying to conceal both his ouster and an unpleasant secret from his past.
A global crackdown on bank secrecy and offshore tax havens is gaining steam due to the worldwide financial crisis, the head of the OECD told CNBC.
The watchdog of the Securities and Exchange Commission has found that three agency exams and two investigations of Bernard Madoff's business were incompetent, despite ample warnings of the multibillion-dollar fraud.
A lawyer for Texas billionaire R. Allen Stanford says his client has had a medical procedure that allows doctors to diagnose and treat certain heart conditions.
Dozens of financial advisors for the defunct Stanford Financial Group, which sold millions of dollars worth of allegedly fraudulent certificates of deposit to unsuspecting customers, were added to a federal lawsuit by the court-appointed Receiver in the case.
Stanford investors are suing five banks, including two in the US, that handled billions of dollars in customer deposits for Stanford International Bank in Antigua, the offshore bank at the heart of the alleged Ponzi scheme.
Late Tuesday, a federal appeals court, without explanation, denied Allen Stanford's petition to remove U.S. District Judge David Hittner from his criminal case.
The industry self-regulatory organization that was supposed to police the brokers at the Stanford Financial Group acknowledges it received a tip from an employee in 2003 that the company was running a Ponzi scheme, but did not follow up on it because of the agency's own policy.
Several banks, including two in the U.S., face new scrutiny as investors and regulators try to sort out the alleged Stanford Ponzi scheme, CNBC has learned. At issue: what the banks and regulators knew about massive deposits and withdrawals from Stanford over the years.
One of Allen Stanford's mistresses—whom the accused fraudster euphemistically refers to as "outside wives"—should be held in contempt of court, according to the court-appointed Receiver in the case.
What to do when your business has been stiffed.
This week General Electric agreed to pay $50 million to settle a suit filed by the Securities and Exchange Commission that said the company fiddled with its books repeatedly early in this decade. In at least one case, that allowed it to preserve its reputation for making the numbers. Some of the details are eerily reminiscent of Enron.
The SEC said Thursday that former American International Group CEO Maurice "Hank" Greenberg agreed to pay a $15 million fine to settle fraud charges.
You don't have to wait for the Labor Department report on employment. If you want to know the state of the job market, look no further than Trina Thompson. A recent IT grad, Thompson is suing her college because she hasn't found a job yet.
A regulatory ban on so-called flash trading, which gives some big brokerage firms a split-second advantage in buying and selling stocks, will take time to implement, Securities and Exchange Commission Chairman Mary Schapiro told CNBC.
Newly unveiled court documents show that ghostwriters paid by a pharmaceutical company played a major role in producing 26 scientific papers backing the use of hormone replacement therapy in women, suggesting that the level of hidden industry influence on medical literature is broader than previously known.
Accused fraudster Allen Stanford once claimed a net worth of more than $2 billion. But with all of his assets frozen by a federal judge, he has no funds to pay his high-powered criminal defense lawyer, Dick DeGuerin of Houston.
William F. Browder, once the largest foreign investor in the Russian stock market, filed court documents in New York this week contending that other Western investors in Russia had colluded with the authorities to steal hundreds of millions of dollars through tax refunds and then laundered the money through New York banks.
Britain's High Court on Friday rejected an autistic British man's bid to avoid extradition to the United States to face trial for hacking into military computers.
Swiss banking giant UBS is being sued in Hong Kong for allegedly duping a 77-year-old woman into buying highly risky derivative investments that cost her nearly $26 million in losses.