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Crime Corporate Fraud

  • HONG KONG, Aug 7- Short sellers are increasingly targeting Hong Kong- listed Chinese companies they allege have committed accounting tricks, market manipulation and fraud. Short sellers said increasing capital flows between mainland China and Hong Kong, spurred by Beijings recent moves to open up its equity markets, were exacerbating corporate governance...

  • Aug 6- Former drug company executive Martin Shkreli could spend years in prison for Friday's investor fraud conviction if the judge focuses on the intended impact of his crime and his "Pharma Bro" social media antics, according to legal experts. "He seems to lack any remorse so this will likely cause the judge to avoid appearing lenient when she sentences him," said...

  • NEW YORK, Aug 4- A U.S. jury convicted Martin Shkreli, the brash former drug company and hedge fund executive, on Friday of defrauding investors in hedge funds he ran years before he gained fame for jacking up the price of a drug. Jurors in U.S. District Court in Brooklyn found Shkreli guilty of two counts of securities fraud and one count of conspiracy.

  • NEW YORK, Aug 4- A U.S. jury convicted Martin Shkreli, the brash former drug company and hedge fund executive who drew fierce criticism for jacking up drug prices, of securities fraud on Friday in an unrelated case. Shkreli, who was acquitted of five of the eight charges against him in U.S. District Court in Brooklyn, characterized the verdict as a victory and called...

  • NEW YORK, Aug 4- Martin Shkreli was convicted of fraud by jurors in a U.S. court in Brooklyn on Friday, in a blow for the controversial former drug company and hedge fund executive, who had forcefully and repeatedly proclaimed his innocence. The verdict in U.S. District Court in Brooklyn came on the fifth day of deliberations, which followed a monthlong trial.

  • NEW YORK, Aug 4- Former drug company executive Martin Shkreli was convicted of securities fraud by jurors in a U.S. court in Brooklyn on Friday, after a highly publicized, monthlong trial. Before going on trial, Shkreli had been best known for raising the price of anti-infection drug Daraprim by 5,000 percent in 2015 as chief executive of Turing Pharmaceuticals.

  • NEW YORK, Aug 3- A Canadian executive whose steel company won nearly $1 billion of contracts to help rebuild the World Trade Center in New York has persuaded a U.S. judge to overturn his conviction for defrauding a program intended to help minorities and women. District Judge Loretta Preska on Thursday ordered the acquittals of Larry Davis of Mississauga,...

  • JERUSALEM, Aug 3- Teva Pharmaceutical Industries said on Thursday it would continue to pursue a breach of contract suit against the former owners of its Rimsa plant in Mexico after a New York judge rejected Teva's claim of fraud. Israel- based Teva, the world's largest generic drugmaker, bought the Rimsa plant in 2016 in a $2.3 billion deal, only to shut it down...

  • NEW YORK, Aug 2- Beechwood, a group of reinsurance and asset management companies, has been sold after it lost clients and suffered a bruised reputation when hedge fund firm Platinum Partners collapsed amid federal investigations and fraud charges, a person familiar with the matter told Reuters. Beechwood, which managed $2.4 billion in assets in 2015, has said...

  • NEW YORK, Aug 2- Jurors in the U.S. fraud trial of former drug company executive Martin Shkreli deliberated for a third day on Wednesday without reaching a verdict. The day came and went without any word from the jurors in U.S. District Court in Brooklyn. Before going to trial on securities fraud and conspiracy charges, Shkreli, 34, was best known for raising the price...

  • NEW YORK, Aug 1- Jurors in the trial of former drug company executive Martin Shkreli on Tuesday asked a judge to clarify the definition of "fraudulent intent," a key element of the case, in their first significant note since they began deliberating Monday morning. The jurors, who are weighing charges of securities fraud and conspiracy against Shkreli in U.S....

  • BRUSSELS, Aug 1- The European anti-fraud office investigating whether Volkswagen used EU funds and European Investment Bank loans to develop devices that cheated emission tests has sent its judicial recommendations to German prosecutors. "OLAF sent its final report and a judicial recommendation to the German national authorities, namely the public...

  • BRUSSELS, Aug 1- The European anti-fraud office investigating whether Volkswagen used EU funds and European Investment Bank loans to develop devices that cheated emission tests has sent its judicial recommendations to German prosecutors. "OLAF sent its final report and a judicial recommendation to the German national authorities, namely the public...

  • The proposed class action filed on Sunday in San Francisco federal court deepens the fallout from the latest bad practice uncovered at Wells Fargo. The San Francisco- based bank made its announcement less than three hours after The New York Times wrote about an internal report prepared for executives that detailed improper charges. "Wells Fargo has long lost...

  • The proposed class action filed on Sunday in San Francisco federal court deepens the fallout from the latest bad practice at Wells Fargo. The San Francisco- based bank made its announcement less than three hours after The New York Times wrote about an internal report prepared for executives that detailed improper charges. "Wells Fargo has long lost the right to...

  • Jurors in Shkreli case will begin deliberations today

    Jurors in the Martin Shkreli securities fraud case will begin their deliberations Monday. The 34 year old Manhattan resident is charged with defrauding more than a half-dozen people who invested in two hedge funds he managed from 2009 through 2012.

  • NEW YORK, July 28- The fate of former drug company executive Martin Shkreli now rests with jurors in Brooklyn federal court, who will begin deliberating Monday morning after a month-long trial. Shkreli, 34, is best known for raising the price of anti-infection drug Daraprim by 5,000 percent in 2015 as chief executive of Turing Pharmaceuticals.

  • NEW YORK, July 27- A U.S. prosecutor on Thursday urged jurors to convict former drug company executive Martin Shkreli of defrauding investors in his hedge funds and stealing from his old company to repay them. Attorney Alixandra Smith told jurors in Brooklyn federal court that Shkreli told "lies upon lies" over the course of five years. Shkreli, 34, is best known for...

  • NEW YORK/ ATHENS/ MOSCOW, July 26- A U.S. jury indicted a Russian man on Wednesday as the operator of a digital currency exchange he allegedly used to launder more than $4 billion for people involved in crimes ranging from computer hacking to drug trafficking. Alexander Vinnik was arrested in a small beachside village in northern Greece on Tuesday, according to...

  • NEW YORK, July 25- U.S. prosecutors questioned their last witness in the securities fraud trial of Martin Shkreli on Tuesday, while the former drug company executive's lawyers said they do not expect to call any witnesses of their own, setting the stage for closing arguments later this week. Shkreli, 34, outraged patients and U.S. lawmakers by raising the price of...