SEOUL (Reuters) – South Korean prosecutors indicted Samsung Group’s Jay Y. Lee on Tuesday on suspicion of accounting fraud and stock price manipulation in connection with a 2015 merger, dealing a new blow to the head of one of Asia’s most valuable companies. L... More »
SEOUL (Reuters) – South Korean prosecutors indicted Samsung Group leader Jay Y. Lee on charges of manipulating stock prices and breach of trust in order to cement control of the group, a prosecution official said on Tuesday. Considering the gravity of manipula... More »
(Reuters) – Evidence used by the United States to justify the extradition of Huawei Technologies Chief Financial Officer Meng Wanzhou is “unreliable and defective” and should not be considered by a Canadian court, Meng’s lawyers argued in documents released to... More »
(Reuters) – Under Armour Inc disclosed on Monday that its top executives had received a Wells notice from the U.S. Securities and Exchange Commission related to an investigation about the sportswear maker’s accounting practices. Last year, the company said it ... More »
BOSTON(Reuters) – Billionaire investor Steven A. Cohen’s Point72 Asset Management is opening the $16.2 billion firm’s latest satellite location in Warsaw and moving some back office operations to lower-cost Poland. Point72, based in Stamford, Connecticut with ... More »
VIENNA (Reuters) – An Austrian lawyer has filed a criminal complaint against Wirecard’s (WDIG.DE) former Chief Executive Markus Braun and Chief Operating Officer Jan Marsalek at a court in Vienna, accusing them of market manipulation and serious fraud. The Vie... More »
FRANKFURT (Reuters) – German regulators twice looked into tightening the supervision of collapsed payments firm Wirecard and discussed it with the German and European central banks but no action was taken, a person with direct knowledge of the talks told Reute... More »
MANILA (Reuters) – Bank of the Philippine Islands Chief Executive Cezar Consing said it was clear that a certificate purporting to be for a Wirecard deposit was “spurious” and reiterated that no cash from the German payments firm had entered the bank. Wirecard... More »
WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Monday he would talk to Congress about proper oversight of $660 billion in small business economic relief, after previously resisting calls to reveal who received the funds. Mnuchin tweeted ... More »
SEOUL (Reuters) – A South Korean court on Tuesday denied an arrest warrant request for Samsung Group heir Jay Y. Lee after prosecutors accused him of accounting fraud and stock manipulation. The ruling provided temporary relief for the vice chairman of Samsung... More »
BOSTON (Reuters) – Miami-area direct lending firm TCA Fund Management Group Corp and its affiliates reached a settlement with U.S. securities regulators over allegations of fraudulent revenue recognition that inflated the value of its private funds, according ... More »
SOFIA (Reuters) – Bulgarian prosecutors have pressed new charges including unlawful possession of antiques of historical value against fugitive gambling tycoon Vasil Bozhkov, one of the country’s richest men, officials said on Thursday. Bozhkov, owner of sever... More »
VANCOUVER/TORONTO (Reuters) – Extraditing Huawei Chief Financial Officer Meng Wanzhou to the United States based on American sanctions against Iran would set a dangerous precedent and could even undermine Canada’s policy towards Iran, Meng’s lawyers argued in ... More »
BERLIN (Reuters) – The board member overseeing an outside audit of Wirecard has been elected as chairman of the German payments company as it battles allegations of fraud and false accounting that have hit its share price. Thomas Eichelmann, a former chief fin... More »
AMSTERDAM (Reuters) – ABN Amro (ABNd.AS) said on Thursday that Robert Swaak, a former chairman of accounting firm PwC in the Netherlands, is to succeed Kees van Dijkhuizen as the Dutch bank’s chief executive. Swaak will take over from Van Dijkhuizen at the com... More »
NAIROBI (Reuters) – Nairobi’s governor pleaded not guilty to corruption and other economic crimes involving millions of dollars in a Kenyan court on Monday. Governor Mike Mbuvi Sonko was arrested on Friday and is accused of conspiracy to commit corruption, fai... More »
(Reuters) – Under Armour Inc (UAA.N) is under investigation by U.S. federal law enforcement officials over whether the sportswear maker shifted sales from quarter to quarter to appear financially healthier, the Wall Street Journal reported on Sunday. The Balti... More »
BERLIN (Reuters) – German payments company Wirecard (WDIG.DE) has hired KPMG to conduct an independent audit to address allegations by the Financial Times that its finance team had sought to inflate reported sales and profits, it said on Monday. The company, p... More »
LONDON (Reuters) – Shares in Wirecard sank more than 20% in early trading on Tuesday after the Financial Times newspaper published documents on the company’s accounting practices alleging an effort to inflate sales and profits, dealers said. At 0806 GMT, share... More »
WASHINGTON (Reuters) – President Donald Trump’s personal attorney, Rudy Giuliani, was paid $500,000 for work he did for a company co-founded by the Ukrainian-American businessman arrested last week on campaign finance charges, Giuliani told Reuters on Monday. ... More »
NEW YORK (Reuters) – If you are seriously ill and homebound, or starting to be prone to forgetfulness, do you have someone you trust with your ATM code to run out and get you some cash? Are you really sure? Elder financial abuse runs the gamut from stranger da... More »
BOSTON (Reuters) – Actress Felicity Huffman, the first parent sentenced in a wide-ranging U.S. college admissions cheating scandal, was given a 14-day prison term on Friday and made a somber apology in federal court for paying to rig her daughter’s entrance ex... More »
SAN FRANCISCO/NEW YORK (Reuters) – Facebook Inc (FB.O) revealed lofty plans to establish a cryptocurrency called Libra in June, but the project quickly ran into trouble with skeptical regulators around the world. Opposition deepened on Friday, when both France... More »
ZURICH (Reuters) – Facebook’s (FB.O) Libra cryptocurrency project is seeking a Swiss payment system license, financial watchdog FINMA said on Wednesday, noting the breadth of the planned services would require broad oversight. The world’s largest social media ... More »
BERN (Reuters) – The Facebook-led (FB.O) Libra cryptocurrency project must meet the highest standards for combating money laundering and terrorism financing if it is to get off the ground, a senior U.S. Treasury official said on Tuesday. Any cryptocurrency pro... More »
SAO PAULO (Reuters) – Police in the Brazilian state of Sao Paulo said on Tuesday they had indicted the woman who accused soccer star Neymar of rape, charging her with fraud, extortion and slander, in what could be a major relief for the Paris Saint Germain str... More »
NEW YORK (Reuters) – The U.S. government on Thursday charged the founder of reverse mortgage provider Live Well Financial Inc with engineering a $140 million fraud by inflating the value of its bonds, in what he called a “self-generating money machine.” Michae... More »
NEW DELHI/MUMBAI (Reuters) – The Indian government’s budget proposal earlier this month to increase taxes on those with annual incomes of more than 20 million rupees ($292,269) has rattled many foreign portfolio investors(FPIs). The realization that the new ta... More »
(Reuters) – British Airways owner IAG said on Monday the UK Information Commissioner’s Office (ICO) intends to impose a penalty of 183.4 million pounds ($229.8 million) for the theft of customer data from the airline’s website last year. The airline revealed l... More »
LOS ANGELES (Reuters) – Theranos founder Elizabeth Holmes and her former second-in-command at the Silicon Valley blood-testing startup were ordered on Friday to stand trial next year on fraud charges stemming from their claims about the company’s technology, c... More »
NEW YORK (Reuters) – A former executive of collapsed Dubai private equity firm Abraaj Capital Ltd on Friday pleaded guilty to U.S. fraud and conspiracy charges, admitting that he lied to investors about the firm’s financial health and track record. Former Abra... More »
(Reuters) – Bank of America Corp’s commodity arm Merrill Lynch Commodities Inc has agreed to pay $25 million to resolve a probe into its trading practices, the U.S. Department of Justice said on Tuesday. Between 2008 and 2014, traders employed by Merrill Lynch... More »
NEW YORK (Reuters) – A federal judge in New York rejected Sotheby’s bid to dismiss a $380 million lawsuit where Russian billionaire Dmitry Rybolovlev accused the auction house of helping his longtime art dealer’s scheme to overcharge him on dozens of masterwor... More »
NEW YORK (Reuters) – A federal judge in Manhattan on Friday threw out the 2013 insider trading guilty plea of a former trader at SAC Capital Advisors LP, the hedge fund once run by billionaire Steven A. Cohen, saying recent changes in the law meant there were ... More »
BOSTON (Reuters) – A federal judge on Friday tossed the convictions of a co-owner and former employee of a Massachusetts compounding pharmacy accused of conspiring to help it evade regulatory oversight before its drugs caused a deadly 2012 fungal meningitis ou... More »
WASHINGTON (Reuters) – Anti-money laundering specialists at Deutsche Bank AG recommended in 2016 and 2017 that multiple transactions involving entities controlled by President Donald Trump and his son-in-law, Jared Kushner, be reported to a federal financial-c... More »
FRANKFURT (Reuters) – Deutsche Bank denied a report that said some of its executives rejected the advice of the bank’s own anti-money laundering specialists and prevented some transactions involving entities controlled by President Donald Trump and his son-in-... More »
(Reuters) – Huawei Technologies Co Ltd lawyer James Cole’s prior work at the U.S. Department of Justice created conflicts of interest that should disqualify him from defending the Chinese company in a case of alleged bank fraud and sanctions violations, U.S. p... More »
(Reuters) – The U.S. Justice Department announced on Friday it had charged former Fugees rapper Prakazrel “Pras” Michel and wealthy Malaysian businessman Low Taek Jho, popularly known as “Jho Low,” for conspiring to steer illegal foreign campaign funds into th... More »
NEW YORK (Reuters) – U.S. entrepreneur and cryptocurrency investor Michael Terpin won $75.8 million in a civil judgment against a 21-year-old man who Terpin said was part of a scheme that defrauded him of digital currencies, court documents showed on Friday. C... More »
DUBAI (Reuters) – U.S. private equity firm TPG said on Thursday it has signed a definitive agreement to takeover the management of a healthcare fund, previously managed by collapsed private equity firm Abraaj. The fund will be renamed Evercare Health Fund, it ... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Wednesday said a $377 million charge it incurred recently was tied to a solar generation company that U.S. authorities have linked to fraud. Berkshire said in its first-quarter report on Saturday it had in... More »
BOSTON (Reuters) – Actress Lori Loughlin on Monday entered a not guilty plea to charges that she participated in a wide-ranging college admissions scam by paying bribes to get her two daughters admitted to the University of Southern California. Loughlin, who s... More »
NOVOVOLYNSK, Ukraine (Reuters) – Ukrainian police are investigating two companies and a factory over a coal deal which some anti-corruption campaigners say epitomizes the difficulties of doing business in the east European country. The sums involved in the dea... More »
LONDON (Reuters) – Mike Lynch, once hailed as Britain’s answer to Bill Gates, faces Hewlett-Packard (HP) in London’s High Court on Monday in a multi-billion dollar showdown over the U.S. technology company’s 2011 purchase of the Autonomy software business he f... More »
(Reuters) – U.S. prosecutors on Friday added three new criminal charges to their indictment against British entrepreneur Mike Lynch related to the $11.1 billion sale of his software company Autonomy to Hewlett-Packard in 2011. Lynch faces a new charge of secur... More »
KUALA LUMPUR (Reuters) – Malaysian prosecutors on Monday said they would issue summonses to units of U.S. investment bank Goldman Sachs in London and Hong Kong, requiring them to respond by June to criminal charges filed against them last year. Soon after bein... More »
NEW YORK (Reuters) – The figure at the center of the U.S. college cheating scandal spoke twice in the past decade at events hosted by Pacific Investment Management Co (Pimco), one of the world’s largest asset managers whose former chief executive is ensnared i... More »
(Reuters) – Advantage Lithium Corp said on Thursday it has temporarily replaced Chief Executive David Sidoo as he battles U.S. fraud charges connected to a sweeping college admissions scandal. The company has named board member Callum Grant, an engineer by tra... More »
LOS ANGELES (Reuters) – Hollywood actress Lori Loughlin was dropped by a TV network and her daughter lost a sponsorship deal on Thursday, while students sued prestigious universities in growing fallout from a massive college bribery scandal. Crown Media Family... More »
NEW YORK (Reuters) – Wells Fargo & Co is engaged in preliminary exploratory resolution discussions with the U.S. Department of Justice and the U.S. Securities and Exchange Commission about inquiries into its sales practices, the bank said on Wednesday. Wells F... More »
BOSTON (Reuters) – The founder of a Nevada-based company was arrested on Wednesday on federal charges he participated in a $6 million scheme to defraud people who wanted to buy a virtual currency called My Big Coin that he claimed was backed by gold. Randall C... More »
NAIROBI (Reuters) – A Kenyan court charged seven men on Wednesday for impersonating President Uhuru Kenyatta and swindling a prominent businessman out of 10 million shillings ($100,000) in yet another high-profile corruption case. The suspects called tyre firm... More »
STOCKHOLM (Reuters) – Swedbank said on Tuesday it had hired external forensic auditors to investigate information in a media report linking the bank to a Baltic money laundering scandal, replacing recently appointed audit firm EY. Sweden’s public broadcaster a... More »
NEW YORK (Reuters) – A U.S. federal appeals court said the trustee liquidating Bernard Madoff’s firm may pursue dozens of lawsuits to recoup funds from defendants including Koch Industries Inc, long controlled by the billionaire brothers Charles and David Koch... More »
FRANKFURT/SINGAPORE (Reuters) – Singapore police raided the premises of German payments company Wirecard in the city state on Friday following a series of investigative reports in the Financial Times alleging fraud and creative accounting. The raid intensified... More »
(Reuters) – U.S. President Donald Trump’s former campaign chairman, Paul Manafort, was accused by federal prosecutors of lying about sharing polling data related to Trump’s 2016 presidential campaign with a business partner with alleged ties to Russian intelli... More »
KUALA LUMPUR (Reuters) – Malaysia is seeking $7.5 billion in reparations from Goldman Sachs Group Inc (GS.N) over its dealings with scandal-linked state fund 1MDB, the Financial Times (FT) reported on Friday, citing the finance minister. Separately, Bloomberg ... More »
NEW YORK (Reuters) – Goldman Sachs Group Inc Chief Executive David Solomon on Friday defended the bank against criticism of its compliance and oversight related to dealings with the sovereign wealth fund 1MDB, according to a message sent to employees obtained ... More »
TORONTO/BEIJING (Reuters) – A top executive of Chinese tech giant Huawei Technologies is due back in a Canadian court on Monday where she’ll fight for her freedom with the help of pressure from Beijing against prosecutors’ claims she cannot be trusted. Huawei ... More »
NAIROBI (Reuters) – A Kenyan court on Monday charged senior officials from the state-run oil pipeline and others from the state health insurance fund for abuse of office and economic crimes that led to the loss of billions of shillings from the two institution... More »
WASHINGTON (Reuters) – U.S. President Donald Trump could face impeachment and jail time if hush money payments reported by his former lawyer are proven to be campaign finance violations, Democratic lawmakers said on Sunday. Court filings on Friday in cases tha... More »
TORONTO (Reuters) – A top executive of China’s Huawei Technologies Co Ltd [HWT.UL] argued that she should be let out on bail while awaiting an extradition hearing due to severe hypertension and fears for her health while incarcerated in Canada, court documents... More »
VANCOUVER/LONDON (Reuters) – Huawei Technologies Co Ltd’s chief financial officer faces U.S. accusations that she covered up her company’s links to a firm that tried to sell equipment to Iran despite sanctions, a Canadian prosecutor said on Friday, arguing aga... More »
WASHINGTON (Reuters) – U.S. Supreme Court justices on Monday appeared reluctant to further limit the scope of who can be held liable for violating laws that protect investors from securities fraud as they weighed an appeal by a New York investment banker who h... More »
WASHINGTON (Reuters) – A former U.S. Justice Department employee pleaded guilty on Friday to conspiring to deceive banks about millions of dollars in foreign lobbying funds, after he facilitated the financing of a lobbying campaign related to the U.S. investig... More »
BOSTON (Reuters) – A former Morgan Stanley adviser was sentenced to five years in prison on Tuesday after he admitted that he misused client funds to invest in a wind farm project and to cover his own personal expenses, including college tuition for his childr... More »
ALEXANDRIA, Va. (Reuters) – A U.S. judge on Monday will weigh President Donald Trump’s former campaign manager Paul Manafort’s bid to delay a criminal trial scheduled to begin this week on more than two dozen financial charges, including bank and tax fraud. Ma... More »
(Reuters) – Malaysian officials investigating a multibillion-dollar corruption scheme linked to a Malaysian state fund and former Prime Minister Najib Razak plan to meet with U.S. officials in Washington, U.S. and Malaysian sources familiar with the plans told... More »
SINGAPORE (Reuters) – A former Goldman Sachs Group Inc. (GS.N) banker is in talks with U.S. prosecutors to potentially plead guilty to criminal charges stemming from an alleged scheme to steal billions of dollars from a Malaysian state investment fund, the Wal... More »
ISLAMABAD (Reuters) – A Pakistani court on Friday sentenced ousted Prime Minister Nawaz Sharif to 10 years in prison for corrupt practices linked to his family’s purchase of upscale London flats, in a major blow to his party ahead of general elections on July ... More »
(Reuters) – U.S. President Donald Trump’s longtime personal lawyer Michael Cohen has hired Lanny Davis, a crisis manager and former special counsel to President Bill Clinton in the 1990s, to help him defend against a federal investigation in New York. Davis, w... More »
CHICAGO (Reuters) – (The writer is a Reuters columnist. The opinions expressed are his own.) Navigating Medicare can be complicated, but one big change recently introduced requires that you do absolutely nothing beyond opening an envelope. In fact, doing just ... More »
MEXICO CITY (Reuters) – Leftist outsider Andres Manuel Lopez Obrador won Mexico’s presidential election with a landslide on Sunday, setting the stage for a government that will inherit tense relations with Washington and the scrutiny of nervous investors. Mexi... More »
SYDNEY (Reuters) – The ongoing public inquiry into the scandal-ridden Australian finance sector is too narrow in scope, a politician who had campaigned for the so-called Royal Commission said during hearings on Tuesday. The complaint from Bob Katter, a lower h... More »
WASHINGTON (Reuters) – Lawyers for Paul Manafort, Donald Trump’s former presidential campaign manager, said on Monday they plan to appeal a judge’s decision to jail Manafort while he awaits a criminal trial in Washington this fall. Judge Amy Berman Jackson in ... More »
(Reuters) – SkyBridge Capital II LLC said on Monday it was suing Premium Point Investments LP, claiming it lost nearly $80 million because the investment service inflated the value of its hedge fund assets. SkyBridge, a hedge fund investment firm founded by U.... More »
WASHINGTON/BRUSSELS (Reuters) – Financial watchdogs from North America, Britain and Asia are urgently seeking a formal exemption from the European Union’s tough new data privacy law to avoid hampering cross-border investigations, regulatory officials told Reut... More »
BOSTON (Reuters) – A former executive at State Street Corp (STT.N) is set to face trial on U.S. charges that he participated in a scheme to defraud the bank’s clients by charging them secret commissions on billions of dollars in trades. Jury selection is sched... More »
WASHINGTON (Reuters) – U.S. President Donald Trump’s former campaign manager, Paul Manafort, lost a bid on Friday to have certain criminal charges filed against him by Special Counsel Robert Mueller dismissed. U.S. District Judge Amy Berman Jackson, who is pre... More »
WASHINGTON (Reuters) – A trial date for U.S. President Donald Trump’s former campaign manager, Paul Manafort, for alleged financial crimes been postponed to July 24 in the Eastern District of Virginia District Court, according to a court filing on Friday. The ... More »
LONDON (Reuters) – Russian money hidden in British assets and laundered through City of London financial institutions damages the government’s efforts to take a tough stance against Moscow’s aggressive foreign policy, a committee of lawmakers said on Monday. B... More »
KUALA LUMPUR (Reuters) – Amid mounting suspense in Malaysia, former leader Najib Razak is expected to give a statement to an anti-graft agency on Tuesday explaining what he knew about $10.6 million transferred into his bank account from a unit of a state fund ... More »
NEW YORK (Reuters) – BlackRock Inc can keep fees from the state of Ohio despite a donation one of its top executives made to Governor John Kasich’s U.S. presidential campaign, according to a preliminary ruling late on Friday by a securities regulator. Mark Wie... More »
NEW YORK (Reuters) – Abraxas Discala, former husband of “The Sopranos” TV star Jamie-Lynn Sigler, was found guilty on Friday of taking part in what federal prosecutors have called a $300 million stock manipulation scheme. Discala, 47, was convicted of securiti... More »
NEW YORK (Reuters) – Two partners at the hedge fund Deerfield Management and two others were found guilty on Thursday of charges stemming from what prosecutors have described as an insider trading scheme based on leaks from within a federal healthcare agency. ... More »
(Reuters) – U.S. prosecutors cracking down on deceptive mortgage bond trading practices on Thursday suffered dual losses as a federal appeals court overturned an ex-Jefferies Group[JGLL.UL] trader’s conviction and a jury acquitted a former Cantor Fitzgerald [C... More »
BOSTON (Reuters) – A Massachusetts hedge fund manager was sentenced on Thursday to six years in prison for defrauding investors in a scheme that prosecutors said cost his clients over $10.5 million and allowed him to fund a lavish lifestyle. Yasuna Murakami, w... More »
NEW YORK (Reuters) – Former New York State Assembly Speaker Sheldon Silver is expected to go to trial on federal corruption charges for the second time on Monday, seven months after an appeals court threw out his earlier conviction and 12-year prison sentence.... More »
WASHINGTON (Reuters) – The U.S. Senate voted on Thursday to confirm five nominees for the Federal Trade Commission, the first commissioners chosen by President Donald Trump to be approved in the 15 months since his inauguration. The president has been slow to ... More »
WASHINGTON (Reuters) – The U.S. Senate Select Committee on Ethics said on Thursday that Senator Robert Menendez violated congressional rules by “knowingly and repeatedly” accepting impermissible gifts over a six-year period and must repay their fair market val... More »
NEW YORK (Reuters) – A Wall Street investor sued American artist Jeff Koons and a prominent New York City gallery on Thursday for more than $39 million over their failure to deliver three Koons sculptures, alleging a scheme to deceive customers. Steven Tananba... More »
JOHANNESBURG (Reuters) – South African police on Monday raided the compound of former president Jacob Zuma’s allies the Guptas, who were accused two years ago in a report by a corruption watchdog of using their influence to gain control of state companies and ... More »
WASHINGTON (Reuters) – The Federal Bureau of Investigation on Monday raided the offices and home of U.S. President Donald Trump’s personal lawyer Michael Cohen, law enforcement sources said, in a dramatic new development in a series of probes involving close T... More »
(Editors’ note: Story contains details that some readers may find upsetting) By Sarah N. Lynch WASHINGTON (Reuters) – Seven people employed by the sex ad website Backpage.com, including its founders Michael Lacey and James Larkin, were charged in a 93-count in... More »
BENGALURU (Reuters) – Shares of ICICI Bank, India’s third-largest lender, plunged 7 percent to a five-month low on Monday after media reported its lending practices were the subject of a police investigation. ICICI Bank’s shares were down 6.3 percent at 260.75... More »
NEW YORK (Reuters) – A New York man pleaded guilty on Wednesday to running what federal prosecutors called a $60 million Ponzi scheme involving the fake resale of tickets to premium events such as the Super Bowl, the U.S. Open tennis tournament and the Broadwa... More »
FILE PHOTO – Specialist traders work at a Virtu Financial booth on the floor of the New York Stock Exchange April 16, 2015. REUTERS/Brendan McDermid NEW YORK (Reuters) – Virtu Financial Inc (VIRT.O) on Friday distanced itself from a fake cryptocurrency called ... More »
FILE PHOTO: The Rio Tinto mining company’s logo is photographed at their annual general meeting in Sydney, Australia, May 4, 2017. REUTERS/Jason Reed/File Photo MELBOURNE (Reuters) – Australia’s corporate watchdog said on Friday it has launched court action ag... More »
BOSTON (Reuters) – Four former employees at a firm that advises companies on shareholder votes will face trial on Monday in a case that prosecutors say shows how secret corporate information can be misused for purposes other than just insider trading. Federal ... More »
