Home » White Collar Crime / Fraud / Corporate Crime
South Korean President Park Geun-hye arrives to attend an emergency cabinet meeting at the Presidential Blue House in Seoul, South Korea, December 9, 2016. Yonhap/ via REUTERS The South Korean special prosecutor’s office said on Monday it will not be able to q... More »
A man walks past Pfizer’s world headquarters in New York April 28, 2014. REUTERS/Andrew Kelly/File Photo Pfizer Inc said it received subpoenas from the U.S. Attorney’s Office for the District of Massachusetts related to its support for organizations that provi... More »
Austria said on Friday that Vienna prosecutors had initiated a formal criminal investigation against Airbus and the Eurofighter consortium over alleged fraud, widening the potential fallout from a $2 billion combat jet order more than a decade ago. More »
A building of Samsung Electronics (R) is seen in Seoul, South Korea, November 8, 2016. REUTERS/Kim Hong-Ji Tech giant Samsung Electronics (005930.KS) is tightening board oversight on donations while two senior Samsung Group [SAGR.UL] executives reportedly offe... More »
Choi Gee-sung, chief executive of South Korea’s Samsung Electronics, speaks during an annual shareholders’ meeting at the company headquarters in Seoul March 18, 2011. REUTERS/Truth Leem Two senior Samsung Group [SAGR.UL] executives have offered to resign to t... More »
FILE PHOTO – The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst The U.S. Securities and Exchange Commission has decided not to appeal a court ruling that limited i... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo Prudential Financial Inc, (PRU.N) the target of probes and lawsuits related to whether Wells Fargo & Co (WFC.N) retail bankers imp... More »
Malawi’s President Peter Mutharika has dismissed the agriculture minister after an investigation into claims that the country paid too much for a delivery of maize from Zambia. More »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake Wells Fargo & Co has fired four mid-level executives and stripped them of bonuses and stock awards as a result of an investigation into improper sales practi... More »
FILE PHOTO – A Barclays logo is pictured outside the Barclays towers in Johannesburg, South Africa, December 16, 2015. REUTERS/Siphiwe Sibeko/File Photo South Africa’s competition watchdog has granted Barclays Africa (BGAJ.J) conditional immunity from prosecut... More »
Samsung Group chief, Jay Y. Lee, leaves the Seoul Central District Court in Seoul, South Korea, February 16, 2017. Picture taken on February 16, 2017. Shin Wong-soo/News1 via REUTERS Samsung Group chief Jay Y. Lee was arrested on Friday over his alleged role i... More »
FILE PHOTO – Choi Gee-sung, chief executive of South Korea’s Samsung Electronics, speaks during an annual shareholders’ meeting at the company headquarters in Seoul March 18, 2011. REUTERS/Truth Leem/File Photo The arrest of Samsung Group scion Jay Y. Lee on b... More »
FILE PHOTO: A policeman walks on a beach near Kudankulam nuclear power project in the southern Indian state of Tamil Nadu, September 13, 2012. REUTERS/Adnan Abidi/File photo India does not expect fallout from the financial meltdown at Toshiba Corp (6502.T) to ... More »
Lee Jae-yong (C), vice chairman of Samsung Electronics, arrives to be questioned as a suspect in a corruption scandal that led to the impeachment of President Park Geun-Hye, at the office of the independent counsel in Seoul. REUTERS/Jung Yeon-Je/Pool min Park More »
Samsung Group chief, Jay Y. Lee, is surrounded by media as he arrives at the Seoul Central District Court in Seoul, South Korea, January 18, 2017. REUTERS/Kim Hong-Ji South Korea’s special prosecutor’s office said it is planning to indict Samsung Group chief J... More »
Samsung Group said on Friday it will do its best to ensure that the truth is revealed in future court proceedings, after the arrest of its chief, Jay Y. Lee. More »
FILE PHOTO – White House senior adviser David Plouffe walks to the Marine One helicopter to depart with U.S. President Barack Obama for a day trip to Ohio and New York, from the White House in Washington, June 14, 2012. REUTERS/Jonathan Ernst Chicago’s ethics ... More »
Art dealer Eric Spoutz leaves the federal court in Manhattan, New York, U.S, February 16, 2017. REUTERS/Nate Raymond A Michigan art dealer was sentenced on Thursday to more than three years in prison for engaging in what prosecutors said was an extensive schem... More »
A U.S. appeals court said on Thursday it will reconsider an October ruling that the Consumer Financial Protection Bureau’s structure is unconstitutional, virtually guaranteeing the battle over an agency borne of the financial crisis will reach the Supreme Cour... More »
Michael Piwowar, Commissioner of the U.S. Secuirites and Exchange Commission, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2016. REUTERS/Lucy Nicholson Acting U.S. Securities and Exchange Commission Chairman Micha... More »
Samsung Group chief, Jay Y. Lee, leaves after attending a court hearing to review a detention warrant request against him at the Seoul Central District Court in Seoul, South Korea, January 18, 2017. REUTERS/Kim Hong-Ji South Korea’s special prosecutor’s office... More »
FILE PHOTO – Samsung Group chief, Jay Y. Lee, leaves after attending a court hearing to review a detention warrant request against him at the Seoul Central District Court in Seoul, South Korea, January 18, 2017. REUTERS/Kim Hong-Ji/File Photo min Park More »
A combination photo shows Trevon Gross (L) in New York on February 1, 2017, and Anthony Murgio (R) in a Pinellas County Sheriff’s Office booking photo that was released on August 4, 2015. The two men were arrested in Florida on August 4, 2015. REUTERS/File Pho... More »
Lee Jae-yong (C), vice chairman of Samsung Electronics, arrives to be questioned as a suspect in a corruption scandal that led to the impeachment of President Park Geun-Hye, at the office of the independent counsel in Seoul on February 13, 2017. REUTERS/Jung Y... More »
The South Korean special prosecutor’s office said on Monday it will decide whether to seek arrest warrants for more Samsung Group [SAGR.UL] executives amid a widening influence-peddling scandal that could topple President Park Geun-hye. More »
FILE PHOTO: The Volkswagen logo is seen at the Frankfurt Motor Show (IAA) in Frankurt, Germany, September 10, 2013. REUTERS/Pawel Kopczynski/File Photo Volkswagen signalled it could take legal action against former chairman Ferdinand Piech after a media report... More »
FILE PHOTO – Leon G. Cooperman, CEO of Omega Advisors, Inc., speaks on a panel at the annual Skybridge Alternatives Conference (SALT) in Las Vegas May 7, 2015. REUTERS/Rick Wilking A U.S. judge on Tuesday held off ruling on whether to throw out a government co... More »
Jay Y. Lee, center, vice chairman of Samsung Electronics, arrives to be questioned as a suspect in bribery case in the influence-peddling scandal that led to the president’s impeachment at the office of the independent counsel in Seoul, South Korea, Thursday, ... More »
A Connecticut hedge fund manager has pleaded guilty in a case linked to an alleged Ponzi scheme involving the resale of tickets for popular events, including smash Broadway musical “Hamilton.” More »
European prices for some off-patent cancer drugs have risen by more than 100 percent in the past five years, with two cases of hikes exceeding 1,000 percent, according to data presented at a medical conference on Saturday. More »
The father of a Florida man who prosecutors said operated an illegal bitcoin exchange avoided prison on Friday after pleading guilty in a case that stemmed from an investigation into a cyber breach at JPMorgan Chase & Co. More »
South Korea’s special prosecutor’s office said on Monday it plans to investigate other conglomerates after completing its probe of Samsung Group [SAGR.UL], whose leader has been named a suspect in a graft scandal involving President Park Geun-hye. More »
Citadel Securities, the market-making arm of billionaire hedge-fund manager Ken Griffin, has agreed to pay $22.6 million to settle charges that it misled customers about the way it priced trades, the U.S. Securities and Exchange Commission said on Friday. More »
The logo of Morgan Stanley is seen at an office building in Zurich, Switzerland September 22, 2016. REUTERS/Arnd Wiegmann/File Photo Morgan Stanley will pay $13 million to settle civil charges, after it overbilled some of its wealth management clients because ... More »
International art dealer Guy Wildenstein arrives for his trial at Paris court, France, January 4, 2016. REUTERS/Charles Platiau/File Photo Wealthy French art dealer Guy Wildenstein and seven others were acquitted of tax fraud charges on Thursday thanks to a le... More »
Anthony Murgio arrives for a hearing at the Manhattan Federal Courthouse in New York, March 4, 2016. REUTERS/Brendan McDermid A Florida man pleaded guilty on Monday to charges that he conspired to operate an illegal bitcoin exchange, which prosecutors said was... More »
Choi Soon-sil, a long-time friend of South Korean President Park Geun-hye who is at the center of the South Korean political scandal involving Park, attends her first court hearing in Seoul, South Korea, December 19, 2016. Korea Pool/via REUTERS South Korean a... More »
U.S. President Barack Obama and Russian President Vladimir Putin walk into a photo opportunity before their meeting at the United Nations General Assembly in New York September 28, 2015. REUTERS/Kevin Lamarque U.S. President-elect Donald Trump on Friday praise... More »
The National Pension Service (NPS) Chairman Moon Hyung-pyo is summoned to the Independent Counsel Team in Seoul, South Korea, December 27, 2016. News1 via REUTERS min Park More »
A woman talks on a mobile phone as she walks past the closed research facility of Semler Research Centre in Bengaluru, India, October 13, 2016. REUTERS/Abhishek N. Chinnappa Vasudeva Prakash left his job as a mechanic in Hyderabad three years ago for what he c... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, U.S. on February 10, 2015. REUTERS/Jim Young/File Photo – RTX2TOT5 The U.S. Department of Justice has subpoenaed a high-profile whistleblower in its criminal investigation into Wells Far... More »
A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany September 30, 2016. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank’s pursuit of success on Wall Street has come at a high price, a $7 billion plus penalty illustrating the... More »
A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany September 30, 2016. REUTERS/Kai Pfaffenbach/File Photo A unit of Deutsche Bank AG conceded that it misled investors and violated securities laws and will pay more than $40 m... More »
Two U.S. lawmakers are questioning whether Heritage Pharmaceuticals misled them in response to a 2014 congressional inquiry about the rising price a common antibiotic, after 20 U.S. states this week accused the company of price fixing. More »
South Korean Prime Minister and the acting President Hwang Kyo-ahn releases a statement to the nation at the Goverment Complex in Seoul, South Korea, December 9, 2016. REUTERS/Kim Hong-Ji South Korean Prime Minister Hwang Kyo-ahn will begin getting official br... More »
A Gabonese man who prosecutors say acted as a “fixer” for a joint-venture involving the hedge fund Och-Ziff Capital Management Group LLC pleaded guilty on Friday to U.S. charges that he engaged in a foreign bribery scheme. More »
A sign for the Securities and Exchange Commission (SEC) is pictured in the foyer of the Fort Worth Regional Office in Fort Worth, Texas June 28, 2012. Picture taken June 28, 2012. REUTERS/Mike Stone A former Morgan Stanley broker who was barred from the securi... More »
Commuters pass by the front of the Bangladesh central bank building in Dhaka March 8, 2016. REUTERS/Ashikur Rahman/File Photo Bangladesh’s central bank hopes to retrieve $30 million more of the $81 million stolen from its account at the New York Federal Reserv... More »
New York financier Lynn Tilton, (L) founder of private equity firm Patriarch Partners, exits the U.S. District courthouse with her lawyer Randy Mastro (R) in New York City, U.S., November 1, 2016. REUTERS/Brendan McDermid A lawyer for financier Lynn Tilton on ... More »
Hans Dieter Poetsch, chairman of the Volkswagen AG supervisory board, addresses a news conference at the headquarters in Wolfsburg, Germany, April 22, 2016. REUTERS/Hannibal Hanschke German prosecutors confirmed on Monday they are investigating Volkswagen AG’s... More »
A Tesco supermarket is seen, in west London on September 30, 2008. . REUTERS/Toby Melville/Files Tesco Bank, owned by Britain’s biggest retailer Tesco, halted online transactions from all current accounts on Monday after money was stolen from 20,000 of them in... More »
The Bank of America building is shown in Los Angeles, California October 29, 2014. REUTERS/Mike Blake/File Photo Bank of America Corp has been hit with a proposed class action accusing it of charging exorbitant fees to thousands of former Arizona prison inmate... More »
A Wells Fargo bank is seen in Del Mar, California January 17, 2012. REUTERS/Mike Blake Wells Fargo & Co (WFC.N) has fired hundreds of employees with Wall Street licenses for improper sales practices, three U.S. senators said on Thursday. More »
Andrew Caspersen and his wife Christina Caspersen depart following his sentencing at the U.S. Federal Court in New York City, U.S., November 4, 2016. REUTERS/Brendan McDermid Former Wall Street executive Andrew Caspersen was sentenced on Friday to four years i... More »
A U.S. unit of British drug company BTG Plc pleaded guilty on Monday to improperly marketing its embolic device LC Bead, and will pay about $36 million to resolve its criminal and civil liability, the U.S. Department of Justice said. More »
EpiPen auto-injection epinephrine pens manufactured by Mylan NV pharmaceutical company for use by severe allergy sufferers are seen in Washington, U.S. August 24, 2016. REUTERS/Jim Bourg/File Photo The U.S. Senate Judiciary Committee urged federal antitrust re... More »
New York financier Lynn Tilton, (L) founder of private equity firm Patriarch Partners, exits the U.S. District courthouse with her lawyer Randy Mastro (R) in New York City, U.S., November 1, 2016. REUTERS/Brendan McDermid Financier Lynn Tilton took the stand o... More »
New York financier Lynn Tilton arrives for an appeal hearing at the U.S. District courthouse in New York, September 16, 2015. REUTERS/Brendan McDermid Financier Lynn Tilton is set to go on trial next week before an administrative law judge on U.S. Securities a... More »
An empty reception area at Falcon Private Bank office in Singapore October 11, 2016. REUTERS/Edgar Su Abu Dhabi investment firm Aabar Investments [INPTVA.UL] said on Tuesday it was fully behind its Falcon Private Bank unit after it was sanctioned in relation t... More »
A San Francisco-based hedge fund has filed a lawsuit against Theranos Inc, accusing the blood testing company of using fraudulent methods to attract an investment of nearly $100 million, according to an investor letter filed by the fund. More »
The Deutsche Bank headquarters are seen in Frankfurt, Germany October 28, 2015. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank (DBKGn.DE) is throwing its energies into reaching a settlement before next month’s presidential election with U.S. authorities dema... More »
Oregon State Treasury said on Thursday that it will press Wells Fargo & Co to make reforms in its management structure and executive compensation in light of a sales scandal that has become a major issue in Washington and on Wall Street. More »
The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst Och-Ziff Capital Management Group LLC will pay $412 million and CEO Daniel Och will pay $2.17 million to resolve... More »
The headquarters of Germany’s Deutsche Bank is photographed early evening in Frankfurt, Germany, January 26, 2016. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank (DBKGn.DE) will solve its problems without relying on help from Berlin, Germany’s flagship lende... More »
A Yahoo logo is pictured in front of a building in Rolle, east of Geneva, Switzerland December 12, 2012. REUTERS/Denis Balibouse/File Photo Yahoo Inc (YHOO.O) was sued on Friday by a user who accused it of gross negligence over a massive 2014 hacking in which ... More »
A Yahoo logo is seen on top of the building where they have offices in New York City, U.S., July 25, 2016. REUTERS/Brendan McDermid Yahoo (YHOO.O) on Friday faced pointed questions about exactly when it knew about a cyber attack that exposed the email credenti... More »
Leon G. Cooperman Chairman, Omega Advisors, speaks on a panel discussion at the annual Skybridge Alternatives Conference (SALT) in Las Vegas May 9, 2013. REUTERS/Rick Wilking On Oct. 5, the U.S. Supreme Court will hear oral arguments on a question that has cre... More »
New Jersey Governor Chris Christie reacts to a question during a news conference in Trenton, New Jersey, U.S. on March 28, 2014. REUTERS/Eduardo Munoz/File Photo New Jersey Governor Chris Christie is not expected to attend the trial this week of two former ass... More »
Taro Pharmaceutical Industries Ltd and two of its senior officers received grand jury subpoenas last week in connection with a federal antitrust investigation into generic drug pricing, the company disclosed. More »
New York financier Lynn Tilton arrives for an appeal hearing at the U.S. District courthouse in New York, September 16, 2015. REUTERS/Brendan McDermid Lynn Tilton, the New York financier accused by the U.S. Securities and Exchange Commission of defrauding her ... More »
A Wells Fargo branch is seen in the Chicago suburb of Evanston, Illinois, February 10, 2015. REUTERS/Jim Young Wells Fargo has long been the envy of the banking industry for its ability to sell multiple products to the same customer, but regulators on Thursday... More »
German tech entrepreneur Kim Dotcom appears in an Auckland court, December 23, 2015. REUTERS/Chris Cameron An appeal by flamboyant German tech entrepreneur Kim Dotcom over a decision to extradite him to the United States began in New Zealand on Monday, with th... More »
Three men have been charged with fraud for allegedly selling horsemeat as beef in Britain in 2012, prosecutors said on Friday. More »
By Clare Baldwin | HONG KONG HONG KONG Crypto-currency exchange Bitfinex’s plan to impose losses on all its trading clients for the theft by hackers of $72 million in Bitcoin rests on two flawed pillars, according to lawyers. The Hong Kong-based exchange said ... More »
NEW YORK/SAN FRANCISCO U.S. prosecutors have opened a criminal investigation into Valeant Pharmaceuticals International Inc (VRX.N) over whether it hid from insurers its relationship with a specialty pharmacy that helped boost its drug sales, the Wall Street J... More »
NEW YORK A federal appeals court on Wednesday rejected a new bid by five former employees of Bernard Madoff’s firm to overturn their convictions for helping their boss conceal his Ponzi scheme, which cost customers more than $17 billion. The order by the 2nd U... More »
CHICAGO Former two-term Illinois Governor Rod Blagojevich is seeking a drastically reduced sentence that would see him released from federal prison within a year after convictions in 2011 for corruption charges including extortion and wire fraud, according to ... More »
DHAKA/NEW YORK Hours before the Federal Reserve Bank of New York approved four fraudulent requests to send $81 million from a Bangladesh Bank account to cyber thieves, the Fed branch blocked those same requests because they lacked information required to trans... More »
NEW YORK U.S. prosecutors have agreed to a rare settlement refund of $6 million to hedge fund Diamondback Capital Management LLC after a ruling by a 2014 federal appeals court made pursuing insider trading cases tougher, according to court papers. In documents... More »
SWIFT on Monday rejected allegations by officials in Bangladesh that technicians with the global messaging system made the nation’s central bank more vulnerable to hacking before an $81 million cyber heist in February. The comments were in response to a Reuter... More »
A large New York law firm that once represented the now-imprisoned Texas financier Allen Stanford has reached a $35 million settlement with victims of his estimated $7.2 billion Ponzi scheme. Chadbourne & Parke entered the accord on Feb. 25, two weeks before a... More »
WASHINGTON Former Virginia Governor Robert McDonnell contends that if the Supreme Court agrees with prosecutors’ broad view of bribery law and allows his corruption convictions to stand, it would make a politician’s ordinary interactions with donors a crime an... More »
NEW YORK A New York lawyer was sentenced on Thursday to six months in prison for participating in a fraudulent scheme in which a con man impersonated his successful father in order to raise money to buy Maxim magazine. Harvey Newkirk, 40, was sentenced by U.S.... More »
MUMBAI Embattled Indian tycoon Vijay Mallya’s UB Group has denied allegations that it used 4.3 billion rupees ($65 million) of bank loans to now-defunct Kingfisher Airlines to buy property overseas. Mallya, a liquor baron and lawmaker, has been at an unknown l... More »
CUBATAO, Brazil On a warm September morning in 2014, the 10-man board of Brazilian steelmaker Usiminas met on the ninth floor of a blue glass tower in Sao Paulo. In the room, the board members grappled over whether to fire the company’s chief executive and two... More »
WASHINGTON The U.S. Treasury Department inched closer on Friday toward finalizing a rule requiring banks to identify the legal owners of shell companies, a move it hopes will help prevent illegal financial activities such as money laundering. The White House’s... More »
The U.S. Justice Department on Friday said it would keep fighting to force Apple Inc to open an iPhone in a New York drug case, continuing its controversial effort to require Apple and other tech companies to help law enforcement authorities circumvent encrypt... More »
LONDON Britain’s Financial Conduct Authority has asked 20 banks and other financial firms to check if they have any ties to Panama law firm Mossack Fonseca, the regulator said on Thursday. A massive leak of documents from the firm released this week detailed h... More »
PANAMA CITY The head of a Panama-based law firm at the center of a massive leak of offshore financial data on Sunday denied any wrongdoing, and said his firm has fallen victim to “an international campaign against privacy”. German newspaper Suddeutsche Zeitung... More »
ZURICHA member of the ethics committee responsible for rooting out corruption in soccer’s governing body FIFA has himself been placed under a preliminary investigation, the watchdog said on Sunday. Juan Pedro Damiani was being investigated over a possible busi... More »
U.S. hospitals should brace for a surge in “ransomware” attacks by cyber criminals who infect and shut down computer networks, then demand payment in return for unlocking them, a non-profit healthcare group warned on Friday. The Health Information Trust Allian... More »
WILMINGTON, Del A U.S. Appeals Court has ruled that creditors of the Tribune Co cannot claw back the $8 billion paid to the multimedia company’s public shareholders nearly a decade ago in a buyout that was blamed for its bankruptcy. The ruling stems from the s... More »
NEW YORK A consultant to Iran’s mission to the United Nations has been criminally charged with violating a U.S. law against dealing with that country, according to an indictment made public on Wednesday. Ahmad Sheikhzadeh, 60, faces seven charges including con... More »
NEW YORK As crowdfunding sites like GoFundme.com and Indiegogo.com started to take off, New York City editor Brandon Wenerd was more than happy to donate to worthy causes, like the kid with stage-four kidney cancer who wanted to travel the world. Soon Wenerd, ... More »
NAIROBI The Kenyan athletes’ representative, Noah Ngeny, has quit his post, saying that the country’s sporting authorities were not doing enough to tackle a doping crisis. Kenya is a global leader in endurance running, both on the track and in city marathons b... More »
FRANKFURT A former employee of Volkswagen’s (VOWG_p.DE) U.S. subsidiary is suing the company for damages, claiming he was unlawfully fired after flagging internally what he alleged was illegal deletion of data, a group of German media outlets said on Sunday. T... More »
ZURICH Authorities searched the offices of France’s soccer federation and seized documents in support of a Swiss investigation into former FIFA President Sepp Blatter, Switzerland’s Office of the Attorney General (OAG) said on Wednesday. The operation, carried... More »
NEW YORK A former JPMorgan Chase & Co investment adviser was sentenced to five years in prison on Tuesday after admitting that he stole at least $20 million from client accounts to fund a gambling addiction and to trade in stock options. Michael Oppenheim, 49,... More »
Home Depot Inc (HD.N) agreed to pay at least $19.5 million to compensate U.S. consumers harmed by a 2014 data breach affecting more than 50 million cardholders. The home improvement retailer will set up a $13 million fund to reimburse shoppers for out-of-pocke... More »
