Ad
related to: corporate fraud schemes
Search results
Results From The WOW.Com Content Network
In March 2017, the U.S. Department of Justice criminally indicted the CMED founder and CEO, as well as the former Chief Financial Officer, charging them with securities fraud and wire fraud conspiracy for stealing more than $400 million from investors as part of a seven-year scheme. National Bank of Anguilla and Caribbean Commercial Bank Anguilla
The inter-agency task force was set up by President Barack Obama in November 2009 to supersede President George W Bush's Corporate Fraud Task Force. [3] At the December 6, 2010, press conference, participating agencies were represented by Attorney General Eric Holder for the United States Department of Justice, Federal Bureau of Investigation (FBI) Executive Assistant Director Shawn Henry, U.S ...
In microcap fraud, stocks of small companies of under $250 million market capitalization are deceptively promoted, then sold to an unwary public. This type of fraud has been estimated to cost investors $1–3 billion annually. [19] Microcap fraud includes pump and dump schemes involving boiler rooms and scams on the Internet.
Authorities charged Fatburger owner Fat Brands and Chairman Andy Wiederhorn of running a scheme that netted him $47 million in bogus loans from the company.
On January 16, 2009, the United Kingdom Serious Fraud Office uncovered an £80 million buy-to-let property fraud scheme operating under a company called Practical Property Portfolio in which at least 1,750 investors were conned out of £25,000 each in return for a promise of a house in the North East of England. All five directors—John Potts ...
Two former energy company executives turned themselves into authorities Friday for their suspected role in facilitating the biggest corruption scandal in Ohio state history. The scheme involved ...
He agreed to forfeit $3.18 million in accounting fees and withdrawals from his account with Madoff. His involvement makes the Madoff scheme not only the largest Ponzi scheme ever uncovered, but the largest accounting fraud in world history. [127] The $64.8 billion claimed to be in Madoff accounts dwarfed the $11 billion fraud at WorldCom.
The bank shared its suspicion with U.K. regulators that Madoff was running a Ponzi scheme but failed to mention it to regulators in the United States. Over the next six years, JPMorgan Chase would admit to three more criminal felony counts while keeping the same Chairman and CEO, Jamie Dimon, in place. (ref 1.1) Louisiana Pacific