Corporate-fraud - Latest Popular Stories, Instablogs Community

Siemens' chairman resigns over corruption scandal

Balendu — Sun, 14 Sep 2008 08:34:39 +0000

The chairman of German industrial giant Siemens, who is embroiled in a major corruption scandal, has finally decided to resign. Heinrich von Pierer has announced that he will step down next week after a board meeting. Siemens is currently...

BAE appoints Lord Woolf to head ethics committee, US Congressional scrutiny looms

Balendu — Sat, 16 Jun 2007 08:41:35 +0000

British defense contractor BAE Systems PLC has appointed a former leading English law official to head a panel examining its business moral values although it clarified that he would not be investigating contentious deals with Saudi Arabia....

US Federal regulators planning to fine Nortel in fraudulent accounting: Reports

Balendu — Sat, 09 Jun 2007 06:53:11 +0000

The US Securities and Exchange Commission is contemplating to fine telecommunications-equipment maker Nortel Networks Corp. as much as $100 million for accounting fraud. The fine will mark the first time the SEC commissioners have used their...

Russia sues Bank of New York over 1990s money laundering scandal

Balendu — Fri, 18 May 2007 04:53:34 +0000

Re-launching one of the most shocking chapters of post-Soviet era, Russia has sued Bank of New York Co. for $22.5 billion for its role in a money-laundering design that was broken up by US establishment in 1999. The lawsuit, filed in Russia, is...

Morgan Stanley pays $8 million to settle fraud charges with SEC

Balendu — Thu, 10 May 2007 04:37:39 +0000

Morgan Stanley, the world’s second- largest securities firm, has agreed to pay $8 million to settle US Securities and Exchange Commission allegations that it defrauded retail investors by failing to give them the best prices possible on...

NASD fines Fidelity units to settle complaints over military fund sales

Balendu — Wed, 09 May 2007 10:10:57 +0000

Two Fidelity brokerage units have reached an agreement to pay $400,000 in penalty to settle regulatory complaints condemning them of producing ambiguous sales materials for two old Fidelity mutual funds that were sold almost exclusively to...

SEC files lawsuits against Hong Kong couple over insider trading

Balendu — Wed, 09 May 2007 06:56:58 +0000

The US Securities and Exchange Commission has filed a lawsuit against a Hong Kong couple for using inside information to make as much as $8.2 million from purchases of Dow Jones & Co. stock before News Corp.’s $5 billion bid for the...

Former Qwest chief found guilty of insider trading

Balendu — Fri, 20 Apr 2007 09:33:25 +0000

Joseph Nacchio, the aggressive chief executive who witnessed Qwest’s spectacular growth as well as its near collapse into bankruptcy, was found guilty on 19 of 42 counts of illegal insider trading. A court in Denver in its verdict ruled that...

Sallie Mae to pay $2 million to settle student lending probe

Balendu — Thu, 12 Apr 2007 05:55:57 +0000

SLM Corp., the largest student loan company, will pay $2 million and implement a new code of conduct to settle an inquiry by New York Attorney General Andrew Cuomo into deceptive loan practices. The largest student loan provider will stop...

Shell to pay $353 million to settle European reserves claims

Balendu — Wed, 11 Apr 2007 09:56:53 +0000

Royal Dutch Shell, Europe’s largest oil company, has proposed a settlement of European and other non-US investor claims related to its 2004 restatement of oil and gas reserves. Shell on Wednesday said that it is agreed to pay European...