Copyright (c) 2010 Yahoo! Inc. All rights reserved. http://news.yahoo.com/business/corporate-fraud business Corporate Fraud & Scandals en-us Wed, 10 Feb 2010 00:10:50 GMT 5 142 18 http://news.yahoo.com/business/corporate-fraud http://l.yimg.com/a/i/us/nws/th/main_142c.gif http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100210/ap_on_bi_ge/us_hedge_fund_insider_trading ap/20100210/us_hedge_fund_insider_trading AP business Wed, 10 Feb 2010 00:10:50 GMT AP - Federal prosecutors boosted their insider trading charges case Tuesday against the man they say was behind history's largest hedge fund insider trading case. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100210/bs_nm/us_galleon_wiretaps_sec nm/20100210/us_galleon_wiretaps_sec Reuters business Wed, 10 Feb 2010 00:01:44 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100210/bs_nm/us_galleon_wiretaps_sec"><img src="http://d.yimg.com/a/p/rids/20100209/i/r4097285057.jpg?x=130&y=82&q=85&sig=CyxmReMn6wCy9FrGuR7qTw--" align="left" height="82" width="130" alt="Raj Rajaratnam, the principal in the $21 million Galleon Group hedge-fund insider trading case, arrives at Manhattan Federal Court for a bail hearing on conspiracy and securities fraud charges in New York, January 12, 2010. REUTERS/Shannon Stapleton" border="0" /></a>Reuters - Additional criminal charges were filed on Tuesday against Galleon hedge fund founder Raj Rajaratnam as prosecutors alleged he and his co-defendant reaped $49 million from illegal insider trading, up from an earlier claim of $40 million.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100210/bs_nm/us_galleon_wiretaps_sec"><img src="http://d.yimg.com/a/p/rids/20100209/i/r4097285057.jpg?x=130&y=82&q=85&sig=CyxmReMn6wCy9FrGuR7qTw--" align="left" height="82" width="130" alt="photo" title="Raj Rajaratnam, the principal in the $21 million Galleon Group hedge-fund insider trading case, arrives at Manhattan Federal Court for a bail hearing on conspiracy and securities fraud charges in New York, January 12, 2010. REUTERS/Shannon Stapleton" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100208/ap_on_bi_ge/us_bank_of_america_merrill_lynch ap/20100208/us_bank_of_america_merrill_lynch AP business Mon, 08 Feb 2010 23:34:31 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100208/ap_on_bi_ge/us_bank_of_america_merrill_lynch"><img src="http://d.yimg.com/a/p/ap/20100208/capt.b5c60a91e3a4452c9f2af265b3ed4e51.bank_of_america_merrill_nybz161.jpg?x=130&y=93&q=85&sig=27XfnuHzSIaXR81PsFjcmA--" align="left" height="93" width="130" alt="FILE - In this Jan. 18, 2010 file photo, a Bank of America branch is shown in Charlotte, N.C. A judge on Monday, Feb. 8, 2010 promised to decide by the end of next week whether to approve a $150 million settlement between the Securities and Exchange Commission and Bank of America over civil charges alleging the bank misled shareholders when it acquired Merrill Lynch. (AP Photo/Chuck Burton, File)" border="0" /></a>AP - A judge promised Monday to decide by the end of next week whether to approve a $150 million settlement between the Securities and Exchange Commission and Bank of America over civil charges alleging the bank misled shareholders when it acquired Merrill Lynch.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100208/ap_on_bi_ge/us_bank_of_america_merrill_lynch"><img src="http://d.yimg.com/a/p/ap/20100208/capt.b5c60a91e3a4452c9f2af265b3ed4e51.bank_of_america_merrill_nybz161.jpg?x=130&y=93&q=85&sig=27XfnuHzSIaXR81PsFjcmA--" align="left" height="93" width="130" alt="photo" title="FILE - In this Jan. 18, 2010 file photo, a Bank of America branch is shown in Charlotte, N.C. A judge on Monday, Feb. 8, 2010 promised to decide by the end of next week whether to approve a $150 million settlement between the Securities and Exchange Commission and Bank of America over civil charges alleging the bank misled shareholders when it acquired Merrill Lynch. (AP Photo/Chuck Burton, File)" border="0"/></a></p><br clear="all"/> (AP) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100208/bs_nm/us_galleon_goel nm/20100208/us_galleon_goel Reuters business Mon, 08 Feb 2010 22:02:56 GMT Reuters - A former Intel Capital director pleaded guilty on Monday to fraud in the Galleon insider trading case, telling a New York court that hedge fund founder Raj Rajaratnam gave him money for personal needs and that he profited from illegal trades. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100205/ap_on_bi_ge/us_brokerage_hackers ap/20100205/us_brokerage_hackers AP business Fri, 05 Feb 2010 22:21:28 GMT AP - An Indian man has pleaded guilty to participating in a scheme to access online brokerage accounts to jack up stock prices and reap thousands of dollars in illegal profits. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100205/ap_on_bi_ge/us_broadcom_backdating ap/20100205/us_broadcom_backdating AP business Fri, 05 Feb 2010 01:41:47 GMT AP - The Securities and Exchange Commission said Thursday it will not pursue a civil action against four former Broadcom Corp. executives for allegations of securities fraud. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100205/bs_nm/us_bankofamerica nm/20100205/us_bankofamerica Reuters business Fri, 05 Feb 2010 01:35:47 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100205/bs_nm/us_bankofamerica"><img src="http://d.yimg.com/a/p/rids/20100204/i/r3868046387.jpg?x=130&y=86&q=85&sig=4KpnUuzGRSUatLvCRcH6ug--" align="left" height="86" width="130" alt="Kenneth Lewis pauses as he speaks at the National Urban League Conference in Chicago July 30, 2009. REUTERS/John Gress" border="0" /></a>Reuters - New York's attorney general charged Bank of America Corp , former Chief Executive Kenneth Lewis and former Chief Financial Officer Joe Price with fraud for allegedly misleading shareholders about the acquisition of Merrill Lynch & Co.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100205/bs_nm/us_bankofamerica"><img src="http://d.yimg.com/a/p/rids/20100204/i/r3868046387.jpg?x=130&y=86&q=85&sig=4KpnUuzGRSUatLvCRcH6ug--" align="left" height="86" width="130" alt="photo" title="Kenneth Lewis pauses as he speaks at the National Urban League Conference in Chicago July 30, 2009. REUTERS/John Gress" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100204/bs_nm/us_galleon nm/20100204/us_galleon Reuters business Thu, 04 Feb 2010 18:14:31 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100204/bs_nm/us_galleon"><img src="http://d.yimg.com/a/p/rids/20100204/i/r526528539.jpg?x=130&y=104&q=85&sig=yDEUH1KntCeV47feC.m.KQ--" align="left" height="104" width="130" alt="Zvi Goffer, one of the seven defendants in the Galleon insider trading case, leaves the Manhattan Federal Court after his arraignment in New York February 2, 2010. REUTERS/Jessica Rinaldi" border="0" /></a>Reuters - The cooperation of two former hedge fund managers in a 2007 insider trading case led to the arrest of seven traders and lawyers last November in the wide-ranging Galleon prosecutions, a U.S. prosecutor said on Thursday.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100204/bs_nm/us_galleon"><img src="http://d.yimg.com/a/p/rids/20100204/i/r526528539.jpg?x=130&y=104&q=85&sig=yDEUH1KntCeV47feC.m.KQ--" align="left" height="104" width="130" alt="photo" title="Zvi Goffer, one of the seven defendants in the Galleon insider trading case, leaves the Manhattan Federal Court after his arraignment in New York February 2, 2010. REUTERS/Jessica Rinaldi" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100203/ap_on_bi_ge/us_sec_madoff_associates ap/20100203/us_sec_madoff_associates AP business Wed, 03 Feb 2010 00:54:27 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100203/ap_on_bi_ge/us_sec_madoff_associates"><img src="http://d.yimg.com/a/p/rids/20100205/i/r1814084920.jpg?x=130&y=84&q=85&sig=fbAlIu_h211MK0Ahw9vAYg--" align="left" height="84" width="130" alt="The apartment building that is the home of accused swindler Bernard Madoff is pictured on New York City's upper east side, in this January 12, 2009 file photo. A buyer has signed a contract to buy Madoff's penthouse apartment, U.S. Officials confirmed on February 5, 2010. The three-bedroom, four-bath duplex was most recently listed for sale at $8.9 million, down from its original asking price of $9.9 million. Picture taken January 12, 2009. REUTERS/Mike Segar/Files (UNITED STATES - Tags: CRIME LAW BUSINESS SOCIETY)" border="0" /></a>AP - Finding accusations "speculative and flimsy," a judge has dismissed civil securities fraud charges against a New York brokerage firm and its executives that resulted from a probe into Bernard Madoff's epic fraud.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100203/ap_on_bi_ge/us_sec_madoff_associates"><img src="http://d.yimg.com/a/p/rids/20100205/i/r1814084920.jpg?x=130&y=84&q=85&sig=fbAlIu_h211MK0Ahw9vAYg--" align="left" height="84" width="130" alt="photo" title="The apartment building that is the home of accused swindler Bernard Madoff is pictured on New York City's upper east side, in this January 12, 2009 file photo. A buyer has signed a contract to buy Madoff's penthouse apartment, U.S. Officials confirmed on February 5, 2010. The three-bedroom, four-bath duplex was most recently listed for sale at $8.9 million, down from its original asking price of $9.9 million. Picture taken January 12, 2009. REUTERS/Mike Segar/Files (UNITED STATES - Tags: CRIME LAW BUSINESS SOCIETY)" border="0"/></a></p><br clear="all"/> (AP) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100202/bs_nm/us_madoff_cohmad nm/20100202/us_madoff_cohmad Reuters business Tue, 02 Feb 2010 21:24:23 GMT Reuters - A federal court dismissed fraud claims brought by the U.S. Securities and Exchange Commission against three Cohmad Securities Corp executives accused of helping Bernard Madoff conduct a $65 billion Ponzi scheme. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100202/bs_nm/us_insidertrading_slaine_sec nm/20100202/us_insidertrading_slaine_sec Reuters business Tue, 02 Feb 2010 19:44:33 GMT Reuters - Former Wall Street hedge fund manager David Slaine pleaded guilty last December to charges of insider trading that reaped profits of $3 million, U.S. prosecutors said on Tuesday. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100202/bs_nm/us_galleon_goffer nm/20100202/us_galleon_goffer Reuters business Tue, 02 Feb 2010 16:34:37 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100202/bs_nm/us_galleon_goffer"><img src="http://d.yimg.com/a/p/rids/20100202/i/r3896887482.jpg?x=130&y=99&q=85&sig=j9RKbL_qugw2ZA6KMVq22A--" align="left" height="99" width="130" alt="Zvi Goffer (L) leaves the Manhattan Federal Court house with his lawyer after being released on bail for his involvement in an alleged insider-trading ring, in New York November 5, 2009. REUTERS/Cary Horowitz" border="0" /></a>Reuters - Former stock trader Zvi Goffer, dubbed "Octopussy" in the sprawling Galleon hedge fund insider trading case, pleaded not guilty on Tuesday along with six others to securities fraud charges.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100202/bs_nm/us_galleon_goffer"><img src="http://d.yimg.com/a/p/rids/20100202/i/r3896887482.jpg?x=130&y=99&q=85&sig=j9RKbL_qugw2ZA6KMVq22A--" align="left" height="99" width="130" alt="photo" title="Zvi Goffer (L) leaves the Manhattan Federal Court house with his lawyer after being released on bail for his involvement in an alleged insider-trading ring, in New York November 5, 2009. REUTERS/Cary Horowitz" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100202/ap_on_bi_ge/us_sec_funding ap/20100202/us_sec_funding AP business Tue, 02 Feb 2010 00:29:31 GMT AP - President Barack Obama is seeking a 12 percent budget increase for the Securities and Exchange Commission, including $419 million for more than 100 new enforcement staff to work on the agency's burgeoning caseload targeting fraud and market manipulation. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100129/bs_nm/us_bankofamerica_sec nm/20100129/us_bankofamerica_sec Reuters business Fri, 29 Jan 2010 22:57:39 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100129/bs_nm/us_bankofamerica_sec"><img src="http://d.yimg.com/a/p/rids/20100129/i/r1914791180.jpg?x=130&y=84&q=85&sig=RTnQk_GO0p81HXDa3SnXmA--" align="left" height="84" width="130" alt="A view shows a Bank of America branch in Charlotte, North Carolina January 19, 2010. REUTERS/Chris Keane =" border="0" /></a>Reuters - The second of two U.S. Securities and Exchange Commission lawsuits against Bank of America Corp over the Merrill Lynch & Co takeover may be ready for trial as soon as this summer, with a trial on the first lawsuit set to begin on March 1.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100129/bs_nm/us_bankofamerica_sec"><img src="http://d.yimg.com/a/p/rids/20100129/i/r1914791180.jpg?x=130&y=84&q=85&sig=RTnQk_GO0p81HXDa3SnXmA--" align="left" height="84" width="130" alt="photo" title="A view shows a Bank of America branch in Charlotte, North Carolina January 19, 2010. REUTERS/Chris Keane =" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100129/bs_nm/us_lehman nm/20100129/us_lehman Reuters business Fri, 29 Jan 2010 20:58:41 GMT Reuters - Barclays Plc urged a judge to throw out a lawsuit by Lehman Brothers Holdings Inc's bankruptcy estate alleging that it reaped a secret $5 billion profit from its rushed September 2008 purchase of the company's U.S. brokerage. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100129/ap_on_bi_ge/us_international_rectifier_probe ap/20100129/us_international_rectifier_probe AP business Fri, 29 Jan 2010 14:35:14 GMT AP - International Rectifier Corp., a maker of power management chips for satellites and aircraft, said Friday that federal regulators will not to file charges against the company after reviewing the restatement of its financial reports. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100128/ap_on_bi_ge/us_hedge_fund_insider_trading_intel ap/20100128/us_hedge_fund_insider_trading_intel AP business Thu, 28 Jan 2010 22:31:40 GMT AP - Intel Corp. says a manager who has been charged in a huge hedge fund insider trading case has left the company. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100127/ap_on_bi_ge/us_sec_money_market_funds ap/20100127/us_sec_money_market_funds AP business Wed, 27 Jan 2010 19:30:13 GMT AP - Federal regulators on Wednesday tightened rules for money-market mutual funds to require them to hold some assets that could be easily converted to cash and to disclose new information on fund values. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20100126/ap_on_bi_ge/us_body_armor ap/20100126/us_body_armor AP business Tue, 26 Jan 2010 02:26:34 GMT AP - Two former top executives of the nation's leading supplier of body armor to the U.S. military accused of insider trading in an alleged $190 million scheme lied to push up the company's stock, a federal prosecutor said at the start of their trial Monday. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20100122/us_nm/us_galleon_indictments nm/20100122/us_galleon_indictments Reuters us Fri, 22 Jan 2010 09:00:32 GMT Reuters - Federal prosecutors on Thursday unveiled grand jury indictments against seven additional defendants in what the government has called the largest hedge fund insider trading probe ever.