Copyright (c) 2009 Yahoo! Inc. All rights reserved. http://news.yahoo.com/i/2165 business Corporate Fraud & Scandals en-us Fri, 06 Nov 2009 20:39:25 GMT 5 142 18 http://news.yahoo.com/i/2165 http://l.yimg.com/a/i/us/nws/th/main_142b.gif http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/us_galleon_insidertrading nm/20091106/us_galleon_insidertrading Reuters us Fri, 06 Nov 2009 20:39:25 GMT Reuters - The U.S. Justice Department sees wire taps as a crucial tool to root out securities fraud as it collaborates more closely with market regulators, a senior department official said on Friday, one day after new charges were filed in the biggest U.S. hedge fund insider trading scandal. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20091106/us_nm/us_florida_inquiry nm/20091106/us_florida_inquiry Reuters us Fri, 06 Nov 2009 20:14:33 GMT Reuters - U.S. federal regulators have launched a fraud investigation into the state agency that runs Florida's $110 billion pension system and another fund hit by a 2007 depositors run, according to government documents. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/us_galleon_sec nm/20091106/us_galleon_sec Reuters business Fri, 06 Nov 2009 20:00:24 GMT Reuters - A top U.S. securities regulator said some funds may now view insider trading as a central tenet of their business models, rather than as a one-time opportunity for big rewards as sometimes happened in the 1980s. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20091106/us_nm/us_ubs_tax_sentencing nm/20091106/us_ubs_tax_sentencing Reuters us Fri, 06 Nov 2009 19:49:30 GMT Reuters - A British-born Florida yacht broker and former client of Swiss bank UBS AG received a reduced, two-month prison sentence for tax fraud on Friday because he cooperated with a U.S. investigation into the bank. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20091106/ap_on_bi_ge/us_trading_scam_charges ap/20091106/us_trading_scam_charges AP business Fri, 06 Nov 2009 17:45:55 GMT AP - A former hedge fund manager arrested earlier this year has been indicted on federal charges he participated in a $7 million insider trading scam. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/afp/20091106/bs_afp/usfinancecrimeinsidersecgalleon afp/20091106/usfinancecrimeinsidersecgalleon AFP business Fri, 06 Nov 2009 05:02:10 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/afp/20091106/bs_afp/usfinancecrimeinsidersecgalleon"><img src="http://d.yimg.com/a/p/afp/20091106/capt.photo_1257483294245-1-0.jpg?x=130&y=90&q=85&sig=NCgZ.szLcgaVncftgrCdeQ--" align="left" height="90" width="130" alt="Jason Goldfarb leaves Manhattan Federal Court after being arrested along with 13 others on insider trading charges November 5 in New York. Law enforcement officials in New York announced charges against 14 people in a widening probe into the largest ever alleged hedge-fund insider trading scheme on Wall Street.(AFP/Getty Images/Mario Tama)" border="0" /></a>AFP - Law enforcement officials in New York announced charges against 14 people in a widening probe into the largest ever alleged hedge-fund insider trading scheme on Wall Street.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/afp/20091106/bs_afp/usfinancecrimeinsidersecgalleon"><img src="http://d.yimg.com/a/p/afp/20091106/capt.photo_1257483294245-1-0.jpg?x=130&y=90&q=85&sig=NCgZ.szLcgaVncftgrCdeQ--" align="left" height="90" width="130" alt="photo" title="Jason Goldfarb leaves Manhattan Federal Court after being arrested along with 13 others on insider trading charges November 5 in New York. Law enforcement officials in New York announced charges against 14 people in a widening probe into the largest ever alleged hedge-fund insider trading scheme on Wall Street.(AFP/Getty Images/Mario Tama)" border="0"/></a></p><br clear="all"/> (AFP) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/us_galleon_arrests nm/20091106/us_galleon_arrests Reuters topstories Fri, 06 Nov 2009 00:06:06 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/us_galleon_arrests"><img src="http://d.yimg.com/a/p/rids/20091105/i/r2808680680.jpg?x=130&y=90&q=85&sig=sY2x._uztu7bfH9uAt26iQ--" align="left" height="90" width="130" alt="An unidentified suspect charged with fraud and conspiracy for insider trading linked to the Galleon Group insider trading scandal, arrives at Manhattan Federal Court in FBI custody, November 5, 2009. REUTERS/Brendan McDermid" border="0" /></a>Reuters - Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal that has ensnared hedge fund managers, top Silicon Valley executives and a bevy of white-shoe advisers.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/us_galleon_arrests"><img src="http://d.yimg.com/a/p/rids/20091105/i/r2808680680.jpg?x=130&y=90&q=85&sig=sY2x._uztu7bfH9uAt26iQ--" align="left" height="90" width="130" alt="photo" title="An unidentified suspect charged with fraud and conspiracy for insider trading linked to the Galleon Group insider trading scandal, arrives at Manhattan Federal Court in FBI custody, November 5, 2009. REUTERS/Brendan McDermid" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/us_hedge_fund_insider_trading ap/20091105/us_hedge_fund_insider_trading AP business Thu, 05 Nov 2009 22:45:40 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/us_hedge_fund_insider_trading"><img src="http://d.yimg.com/a/p/rids/20091107/i/ra2676092415.jpg?x=130&y=90&q=85&sig=9h_cl3CqWGMLL04lzbMAIQ--" align="left" height="90" width="130" alt="An unidentified suspect charged with fraud and conspiracy for insider trading linked to the Galleon Group insider trading scandal, arrives at Manhattan Federal Court in FBI custody, November 5, 2009. The U.S. Justice Department sees wire taps as a crucial tool to root out securities fraud. REUTERS/Brendan McDermid" border="0" /></a>AP - Two attorneys and Wall Street professionals were among 14 people charged Thursday in a widening $53 million insider trading case that has snared one of America's richest men and shown white collar suspects to be using the cover-up tactics of drug dealers.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/us_hedge_fund_insider_trading"><img src="http://d.yimg.com/a/p/rids/20091107/i/ra2676092415.jpg?x=130&y=90&q=85&sig=9h_cl3CqWGMLL04lzbMAIQ--" align="left" height="90" width="130" alt="photo" title="An unidentified suspect charged with fraud and conspiracy for insider trading linked to the Galleon Group insider trading scandal, arrives at Manhattan Federal Court in FBI custody, November 5, 2009. The U.S. Justice Department sees wire taps as a crucial tool to root out securities fraud. REUTERS/Brendan McDermid" border="0"/></a></p><br clear="all"/> (AP) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20091105/us_nm/us_galleon_complaint nm/20091105/us_galleon_complaint Reuters us Thu, 05 Nov 2009 20:23:16 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20091105/us_nm/us_galleon_complaint"><img src="http://d.yimg.com/a/p/rids/20091106/i/r2960437669.jpg?x=97&y=130&q=85&sig=L_UZbovy0kh.DeG2lxKnKQ--" align="left" height="130" width="97" alt="Zvi Goffer, manager of New York-based trading firm Incremental Capital, leaves the Manhattan Federal Court house 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 - Zvi Goffer could have passed for Tony Soprano when he warned confederates in his alleged insider-trading ring that "someone's going to jail."</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20091105/us_nm/us_galleon_complaint"><img src="http://d.yimg.com/a/p/rids/20091106/i/r2960437669.jpg?x=97&y=130&q=85&sig=L_UZbovy0kh.DeG2lxKnKQ--" align="left" height="130" width="97" alt="photo" title="Zvi Goffer, manager of New York-based trading firm Incremental Capital, leaves the Manhattan Federal Court house 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/20091105/ap_on_bi_ge/us_jpmorgan_sec_settlement ap/20091105/us_jpmorgan_sec_settlement AP business Thu, 05 Nov 2009 03:27:57 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20091105/ap_on_bi_ge/us_jpmorgan_sec_settlement"><img src="http://d.yimg.com/a/p/ap/20091104/capt.912e9bc06b40499a905de57d287ac252.jpmorgan_sec_settlement_nybz130.jpg?x=130&y=86&q=85&sig=KaBtuV9mv6D0l1S3N.8ytQ--" align="left" height="86" width="130" alt="FILE - In this Oct. 15, 2008 file photo, an exterior view of JPMorgan Chase offices is shown in San Francisco. JPMorgan Chase & Co. is paying more than $700 million to settle federal regulators' charges it made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Ala.(AP Photo/Paul Sakuma, file)" border="0" /></a>AP - JPMorgan Chase & Co. has agreed to pay $75 million in fines and forfeit $647 million in fees to settle federal regulators' charges that it made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Ala.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20091105/ap_on_bi_ge/us_jpmorgan_sec_settlement"><img src="http://d.yimg.com/a/p/ap/20091104/capt.912e9bc06b40499a905de57d287ac252.jpmorgan_sec_settlement_nybz130.jpg?x=130&y=86&q=85&sig=KaBtuV9mv6D0l1S3N.8ytQ--" align="left" height="86" width="130" alt="photo" title="FILE - In this Oct. 15, 2008 file photo, an exterior view of JPMorgan Chase offices is shown in San Francisco. JPMorgan Chase & Co. is paying more than $700 million to settle federal regulators' charges it made unlawful payments to friends of public officials to win municipal bond business in Jefferson County, Ala.(AP Photo/Paul Sakuma, file)" border="0"/></a></p><br clear="all"/> (AP) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20091105/ts_nm/us_mozilo_sec_lawsuit nm/20091105/us_mozilo_sec_lawsuit Reuters business Thu, 05 Nov 2009 01:24:08 GMT Reuters - A federal judge rejected a request by Angelo Mozilo, the former chief executive of mortgage lender Countrywide Financial Corp, to dismiss a U.S. Securities and Exchange Commission lawsuit accusing him of securities fraud and insider trading. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20091105/us_nm/us_galleon nm/20091105/us_galleon Reuters us Thu, 05 Nov 2009 00:58:34 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20091105/us_nm/us_galleon"><img src="http://d.yimg.com/a/p/rids/20091104/i/r1213302707.jpg?x=130&y=100&q=85&sig=gXA1f5npY_VymTESTqgayQ--" align="left" height="100" width="130" alt="Galleon hedge fund partner Raj Rajaratnam is escorted by FBI agents after being taken into custody in New York October 16, 2009. REUTERS/Brendan McDermid" border="0" /></a>Reuters - Investigators expect more people to be charged in the Galleon hedge fund insider trading case, and they said they have cooperating witnesses to strengthen their case against the fund's billionaire founder, Raj Rajaratnam.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20091105/us_nm/us_galleon"><img src="http://d.yimg.com/a/p/rids/20091104/i/r1213302707.jpg?x=130&y=100&q=85&sig=gXA1f5npY_VymTESTqgayQ--" align="left" height="100" width="130" alt="photo" title="Galleon hedge fund partner Raj Rajaratnam is escorted by FBI agents after being taken into custody in New York October 16, 2009. REUTERS/Brendan McDermid" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20091105/ap_on_bi_ge/us_value_line_sec_settlement ap/20091105/us_value_line_sec_settlement AP business Thu, 05 Nov 2009 00:47:27 GMT AP - Investment adviser Value Line Inc., its CEO and its former compliance chief have agreed to pay about $45 million to settle regulators' allegations the firm charged more than $24 million in bogus commissions on mutual fund trades. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20091104/ap_on_bi_ge/us_merge_sec_charges_wisconsin ap/20091104/us_merge_sec_charges_wisconsin AP business Wed, 04 Nov 2009 21:30:32 GMT AP - Milwaukee-based Merge Healthcare Inc. and two former senior executives have settled charges by the Securities and Exchange Commission alleging accounting fraud that caused the company's stock to plummet by two-thirds in a seven-month period. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20091104/us_nm/us_mergehealthcare_sec nm/20091104/us_mergehealthcare_sec Reuters us Wed, 04 Nov 2009 21:10:42 GMT Reuters - Two former top Merge Healthcare Inc executives agreed to pay $870,000 to settle U.S. Securities and Exchange Commission charges they fraudulently inflated revenue at the medical imaging software provider. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20091104/ap_on_bi_ge/us_financial_overhaul ap/20091104/us_financial_overhaul AP business Wed, 04 Nov 2009 21:01:49 GMT AP - The House Financial Services Committee voted Wednesday to give federal regulators more power and money to police major players in the stock market, four months after Bernard Madoff was sentenced for the biggest investment scam in history. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20091104/ap_on_bi_ge/us_finra_broker_barred ap/20091104/us_finra_broker_barred AP business Wed, 04 Nov 2009 18:19:16 GMT AP - The Financial Industry Regulatory Authority on Wednesday said it barred a former registered representative based in California after he took part in insider trading earlier this year. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20091103/ap_on_bi_ge/us_qwest_nacchio_sentence ap/20091103/us_qwest_nacchio_sentence AP business Tue, 03 Nov 2009 05:06:53 GMT AP - Former Qwest CEO Joseph Nacchio says a federal judge should start from scratch in reconsidering his sentence for insider trading. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20091102/ap_on_bi_ge/us_lawyer_arrested ap/20091102/us_lawyer_arrested AP business Mon, 02 Nov 2009 22:11:43 GMT AP - A former securities broker has pleaded guilty to charges he helped a prominent Manhattan lawyer dupe hedge funds into making bogus investments. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20091102/ap_on_bi_ge/us_enron_broadband ap/20091102/us_enron_broadband AP business Mon, 02 Nov 2009 20:18:41 GMT AP - Enron's former broadband finance chief received one year's probation, including nine months' home confinement, for falsifying company books.