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Crime Corporate Fraud

  • NEW YORK, Oct 5- A suburban New York hedge fund manager accused of losing or spending all but about $27,000 of the $21.8 million he told investors he had was criminally charged on Thursday with running a Ponzi scheme. Prosecutors said Michael Scronic, who once worked at Morgan Stanley and has degrees from Stanford University and the University of Chicago, stole...

  • NEW YORK, Oct 5- A suburban New York hedge fund manager who once worked at Morgan Stanley and was accused of losing or spending all but about $27,000 of the $21.8 million he told investors he had was criminally charged on Thursday with running a Ponzi scheme. Prosecutors said Michael Scronic, 46, of Pound Ridge, New York, stole more than $19 million from 45 investors...

  • NEW YORK, Oct 5- A suburban New York hedge fund manager who once worked at Morgan Stanley and was accused of losing or spending all but about $27,000 of the $21.8 million he told investors he had was criminally charged on Thursday with running a Ponzi scheme. Prosecutors said Michael Scronic, 46, of Pound Ridge, New York, stole more than $19 million from 45 investors...

  • BOSTON, Oct 5- New Jersey on Thursday accused Insys Therapeutics Inc of engaging in a fraudulent scheme to boost sales of a fentanyl-based cancer pain drug, as Massachusetts announced a $500,000 settlement with the drugmaker to resolve similar allegations. The lawsuit by New Jersey Attorney General Christopher Porrino accused Insys of illegally directing...

  • BRASILIA, Oct 4- Brazil's pension oversight body Previc ordered a 180- day intervention in Postalis Instituto de Previdência Complementar, the pension fund for post office workers, for breaking rules on reserve requirements and investments, the regulator said on Wednesday. Postalis, Brazil's largest fund by number of participants, has amassed billions of...

  • LONDON, Oct 4- A senior accountant at Tesco described mounting pressures on managers as the food business under-performed against targets in 2014, telling a London court that his attempts to have the targets revised down had fallen on deaf ears. Amit Soni was giving evidence at the trial of three former senior Tesco executives who are accused of fraud and false...

  • Christopher Bush, 51, who was managing director of Tesco UK, Carl Rogberg, 50, who was UK finance director, and John Scouler, 49, who was UK food commercial director, all deny charges of fraud and false accounting. On the third day of the trial, lead prosecutor Sasha Wass told the jury that Richard Parsons, a finance project manager, and Nadiri Aysen, an accountant, both...

  • LONDON, Oct 2- Former Tesco chairman Richard Broadbent will be a witness in the trial of three former executives accused of fraud and false accounting at Britain's biggest retailer, a court heard on Monday. Christopher Bush, 51, who was managing director of Tesco UK; Carl Rogberg, 50, who was UK finance director; and John Scouler, 49, who was UK food commercial...

  • LONDON, SHANGHAI, NEW YORK, Sept 29- Dan Wasyluk discovered the hard way that trading cryptocurrencies such as bitcoin happens in an online Wild West where sheriffs are largely absent. Just months later the exchange collapsed; the man behind it is now awaiting trial in Britain on fraud and money-laundering charges. Wasyluk's project lost 750 bitcoins, currently...

  • LONDON, SHANGHAI, NEW YORK, Sept 29- Dan Wasyluk discovered the hard way that trading cryptocurrencies such as bitcoin happens in an online Wild West where sheriffs are largely absent. Just months later the exchange collapsed; the man behind it is now awaiting trial in Britain on fraud and money-laundering charges. Wasyluk's project lost 750 bitcoins, currently...

  • Sept 27- The U.S. Justice Department has brought new charges over a scheme that it says enabled Tenet Healthcare Corp to fraudulently bill state Medicaid programs for $400 million, according to an indictment made public on Wednesday. William Moore, the ex-chief executive of Atlanta Medical Center Inc, which had been operated by Tenet; and Edmundo Cota, the...

  • The SEC's enforcement division in 2015 accused Tilton of defrauding investors in the three so-called Zohar collateralized loan obligation funds, which raised $2.5 billion to make loans to distressed companies. At trial, the SEC alleged Tilton misled investors by directing the valuations of assets underlying the Zohar funds remain unchanged despite...

  • Sept 27- The U.S. Securities and Exchange Commission suffered a defeat on Wednesday, as a judge said it failed to prove private equity fund manager Lynn Tilton defrauded investors by hiding the poor performance of assets underlying three debt funds. At trial, the SEC had alleged Tilton misled investors by directing the valuations of assets underlying the Zohar...

  • SEC Administrative Law Judge Carol Fox Foelak dismissed the charges against Tilton, the founder of New York- based Patriarch Partners who is known as the "Diva of Distressed" for taking over troubled companies.

  • William Moore, the former chief executive of Tenet-operated Atlanta Medical Center Inc, and Edmundo Cota, the ex-head of a clinic operator that provided prenatal care to Hispanic women, were charged in an indictment filed in Atlanta federal court. They were added as defendants in a case the Justice Department brought in February against John Holland, a former...

  • Sept 27- The U.S. Justice Department has brought new charges over a scheme that it says enabled Tenet Healthcare Corp to fraudulently bill state Medicaid programs for $400 million, according to an indictment made public on Wednesday.

  • FORMER CEO OF TENET HEALTHCARE CORP-OWNED HOSPITAL IN ATLANTA CHARGED IN U.S.

  • *Could be Austria's largest IPO in at least a decade. VIENNA, Sept 27- Austria's former trade union bank BAWAG is planning a stock market debut later this year to set the seal on a decade-long recovery from its near collapse in a fraud scandal. Sources close to the matter told Reuters in June the listing of a 20-30 percent stake could value Austria's fourth-biggest...

  • NCAA Basketball

    Watch U.S. Attorney Joon Kim hold a news conference in Manhattan to announce charges of fraud and corruption in college basketball.

  • NEW YORK, Sept 25- A former top HSBC Holdings Plc executive threw his Scottish client "under the bus" by using his knowledge of its large planned currency transaction to do his own trading first, a U.S. prosecutor said on Monday at the start of a closely-watched trial. Johnson, the former head of HSBC's global foreign exchange cash trading desk, is the first banker to be...