Copyright (c) 2009 Yahoo! Inc. All rights reserved. http://news.yahoo.com/i/2165 business Corporate Fraud & Scandals en-us Fri, 03 Jul 2009 20:48:47 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/20090703/bs_nm/us_stanford_willis nm/20090703/us_stanford_willis Reuters business Fri, 03 Jul 2009 20:48:47 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20090703/bs_nm/us_stanford_willis"><img src="http://d.yimg.com/a/p/rids/20090703/i/r3504848635.jpg?x=81&y=130&q=85&sig=JtqxA_ONvybROKkwsA5S7Q--" align="left" height="130" width="81" alt="Texas billionaire Allen Stanford gives members of the media a thumbs up as he leaves the Bob Casey Federal courthouse in the custody of U.S. Marshals in Houston June 29, 2009. REUTERS/ Steve Campbell" border="0" /></a>Reuters - Several Mexican clients of Stanford Financial Group have sued insurance broker Willis Group Holdings Ltd , contending it was a willing participant in a $7 billion fraud at the Texas-based investment company.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20090703/bs_nm/us_stanford_willis"><img src="http://d.yimg.com/a/p/rids/20090703/i/r3504848635.jpg?x=81&y=130&q=85&sig=JtqxA_ONvybROKkwsA5S7Q--" align="left" height="130" width="81" alt="photo" title="Texas billionaire Allen Stanford gives members of the media a thumbs up as he leaves the Bob Casey Federal courthouse in the custody of U.S. Marshals in Houston June 29, 2009. REUTERS/ Steve Campbell" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090703/ap_on_bi_ge/us_sec_pang ap/20090703/us_sec_pang AP business Fri, 03 Jul 2009 17:06:35 GMT AP - A federal judge has granted the Securities and Exchange Commission's request to continue freezing the assets of a California financier charged in a fraud case involving hundreds of millions of dollars. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090702/ap_on_re_us/us_jefferson_trial ap/20090702/us_jefferson_trial AP us Thu, 02 Jul 2009 16:46:47 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090702/ap_on_re_us/us_jefferson_trial"><img src="http://d.yimg.com/a/p/ap/20090624/capt.6c87a62d5eca43df9d0521b300e7a410.jefferson_trial_vajm102.jpg?x=130&y=86&q=85&sig=_MHpC4lUq6sVeTdYi3rPbw--" align="left" height="86" width="130" alt="FILE - In this file photo from Wednesday, June 10, 2009, former Democratic Louisiana Congressman William Jefferson, center, exits U.S. District Court with his defense team including lawyer Robert Trout, right, in Alexandria, Va. Jefferson is facing multiple charges including bribery. (AP Photo/Jacquelyn Martin)" border="0" /></a>AP - Prosecutors are playing audiotapes of former Louisiana congressman William Jefferson talking with a woman about business deals he is accused of brokering in exchange for bribes.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090702/ap_on_re_us/us_jefferson_trial"><img src="http://d.yimg.com/a/p/ap/20090624/capt.6c87a62d5eca43df9d0521b300e7a410.jefferson_trial_vajm102.jpg?x=130&y=86&q=85&sig=_MHpC4lUq6sVeTdYi3rPbw--" align="left" height="86" width="130" alt="photo" title="FILE - In this file photo from Wednesday, June 10, 2009, former Democratic Louisiana Congressman William Jefferson, center, exits U.S. District Court with his defense team including lawyer Robert Trout, right, in Alexandria, Va. Jefferson is facing multiple charges including bribery. (AP Photo/Jacquelyn Martin)" border="0"/></a></p><br clear="all"/> (AP) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20090702/ts_nm/us_madoff_sec nm/20090702/us_madoff_sec Reuters topstories Thu, 02 Jul 2009 05:48:59 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20090702/ts_nm/us_madoff_sec"><img src="http://d.yimg.com/a/p/rids/20090703/i/r3470460675.jpg?x=130&y=92&q=85&sig=ZSqviIoLKO6L4J7X28gG0A--" align="left" height="92" width="130" alt="Accused swindler Bernard Madoff enters the Manhattan federal court house in New York, March 12, 2009. REUTERS/Shannon Stapleton" border="0" /></a>Reuters - A U.S. Securities and Exchange Commission lawyer warned about irregularities at Bernard Madoff's financial management firm as far back as 2004, The Washington Post reported on Thursday, citing agency documents and sources familiar with the investigation.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20090702/ts_nm/us_madoff_sec"><img src="http://d.yimg.com/a/p/rids/20090703/i/r3470460675.jpg?x=130&y=92&q=85&sig=ZSqviIoLKO6L4J7X28gG0A--" align="left" height="92" width="130" alt="photo" title="Accused swindler Bernard Madoff enters the Manhattan federal court house in New York, March 12, 2009. 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/20090701/ap_on_bi_ge/us_healthsouth_sentencing ap/20090701/us_healthsouth_sentencing AP business Wed, 01 Jul 2009 21:17:09 GMT AP - A former HealthSouth Corp. finance chief has been ordered to spend three months in federal prison for his role in the $2.6 billion financial fraud that nearly wrecked the company. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090701/ap_on_bi_ge/us_beazer_homes_sec ap/20090701/us_beazer_homes_sec AP business Wed, 01 Jul 2009 19:30:33 GMT AP - The Securities and Exchange Commission charges the former chief accounting officer at Beazer Homes USA with committing fraud and misleading company auditors. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090701/ap_on_bi_ge/us_sec_qwest ap/20090701/us_sec_qwest AP business Wed, 01 Jul 2009 00:57:30 GMT AP - Former Qwest CEO Joseph Nacchio asked a judge Tuesday to decide in his favor in a Securities and Exchange Commission lawsuit, saying the company's stock plunge was the result of a telecommunications industry meltdown, not financial fraud. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090630/ap_on_bi_ge/oh_broker_fraud_scheme ap/20090630/oh_broker_fraud_scheme AP business Tue, 30 Jun 2009 19:29:39 GMT AP - A former securities broker in Ohio has been sentenced to 16 years in prison for a fraud scheme that prosecutors say cost investors $2 million. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090630/ap_on_bi_ge/us_investment_fees_lawsuit ap/20090630/us_investment_fees_lawsuit AP business Tue, 30 Jun 2009 17:17:38 GMT AP - The Securities and Exchange Commission says an Omaha investment adviser improperly charged at least $773,000 in fees to clients since last August, and about $250,000 remains missing. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090630/ap_on_bi_ge/us_danny_pang ap/20090630/us_danny_pang AP business Tue, 30 Jun 2009 07:20:43 GMT AP - The Securities and Exchange Commission is seeking to permanently freeze the assets of a California financier accused of bilking investors until his fraud trial is over. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090626/ap_on_re_us/us_siegelman_trial_scrushy ap/20090626/us_siegelman_trial_scrushy AP us Fri, 26 Jun 2009 23:41:56 GMT AP - Former HealthSouth CEO Richard Scrushy asked a judge to grant him a new trial Friday, saying he was a victim of selective prosecution when he was convicted of bribery in 2006. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20090625/us_nm/us_bankofamerica_merrill_bias_lawsuit nm/20090625/us_bankofamerica_merrill_bias_lawsuit Reuters us Thu, 25 Jun 2009 19:10:08 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20090625/us_nm/us_bankofamerica_merrill_bias_lawsuit"><img src="http://d.yimg.com/a/p/rids/20090625/i/r120654789.jpg?x=130&y=86&q=85&sig=vGeOZkhSJ1wklGqxcYiL2w--" align="left" height="86" width="130" alt="Committee Chairman Edolphus Towns (C), ranking member Rep. Darrell Issa (L) and Rep. Dennis Kucinich (R) talk to reporters after testimony by Federal Reserve Chairman Ben Bernanke about his role in Bank of America's acquisition of Merrill Lynch, at a hearing of the House Oversight and Government Reform Committee on Capitol Hill in Washington, June 25, 2009. REUTERS/Jonathan Ernst" border="0" /></a>Reuters - Bank of America Corp was accused in a Manhattan federal lawsuit of discriminating against female brokers at the former Merrill Lynch & Co by offering them lower retention bonuses than male counterparts.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20090625/us_nm/us_bankofamerica_merrill_bias_lawsuit"><img src="http://d.yimg.com/a/p/rids/20090625/i/r120654789.jpg?x=130&y=86&q=85&sig=vGeOZkhSJ1wklGqxcYiL2w--" align="left" height="86" width="130" alt="photo" title="Committee Chairman Edolphus Towns (C), ranking member Rep. Darrell Issa (L) and Rep. Dennis Kucinich (R) talk to reporters after testimony by Federal Reserve Chairman Ben Bernanke about his role in Bank of America's acquisition of Merrill Lynch, at a hearing of the House Oversight and Government Reform Committee on Capitol Hill in Washington, June 25, 2009. REUTERS/Jonathan Ernst" border="0"/></a></p><br clear="all"/> (Reuters) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090625/ap_on_bi_ge/us_sec_money_market_funds ap/20090625/us_sec_money_market_funds AP business Thu, 25 Jun 2009 00:45:54 GMT AP - Federal regulators on Wednesday proposed tightened rules for money-market mutual funds that would require them to hold some assets that could be easily converted to cash and to invest only in the highest quality securities. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090624/ap_on_bi_ge/us_healthsouth_scrushy ap/20090624/us_healthsouth_scrushy AP business Wed, 24 Jun 2009 18:15:16 GMT AP - A judge froze the assets of jailed HealthSouth Corp. founder Richard Scrushy to help pay for a nearly $2.9 billion judgment after he was found liable for the accounting fraud that nearly wrecked the company. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/afp/20090623/ts_afp/usfraudfinancetrialmadoff afp/20090623/usfraudfinancetrialmadoff AFP topstories Tue, 23 Jun 2009 03:06:03 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/afp/20090623/ts_afp/usfraudfinancetrialmadoff"><img src="http://d.yimg.com/a/p/afp/20090625/capt.photo_1245725138364-2-0.jpg?x=130&y=92&q=85&sig=sm3NllfEuKE2lmzZ6GvN7w--" align="left" height="92" width="130" alt="A lawyer for disgraced financier Bernard Madoff, seen here in March 2009, Tuesday sought a sentence of 12 years or less for his aging client, who he says "has an approximate life expectancy of 13 years."(AFP/File/Stan Honda)" border="0" /></a>AFP - US financial regulators charged a brokerage firm and several individuals with funneling billions of dollars to help finance Wall Street swindler Bernard Madoff's massive Ponzi scheme.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/afp/20090623/ts_afp/usfraudfinancetrialmadoff"><img src="http://d.yimg.com/a/p/afp/20090625/capt.photo_1245725138364-2-0.jpg?x=130&y=92&q=85&sig=sm3NllfEuKE2lmzZ6GvN7w--" align="left" height="92" width="130" alt="photo" title="A lawyer for disgraced financier Bernard Madoff, seen here in March 2009, Tuesday sought a sentence of 12 years or less for his aging client, who he says "has an approximate life expectancy of 13 years."(AFP/File/Stan Honda)" border="0"/></a></p><br clear="all"/> (AFP) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090623/ap_on_bi_ge/us_sec_madoff_associates ap/20090623/us_sec_madoff_associates AP business Tue, 23 Jun 2009 00:25:14 GMT <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090623/ap_on_bi_ge/us_sec_madoff_associates"><img src="http://d.yimg.com/a/p/ap/20090622/capt.de44c21e6f534782adf16c3ca2cc5904.madoff_associates_nybz170.jpg?x=130&y=97&q=85&sig=9OxlmPybOoIUKimP84giUg--" align="left" height="97" width="130" alt="FILE - In this March 12, 2009 file photo, Bernard Madoff arrives at Manhattan federal court in New York. Federal regulators on Monday, June 22, 2009 announced they have charged a brokerage firm called Cohmad Securities and four people with securities fraud, accusing them of funneling billions of dollars from investors into Madoff's pyramid scheme. (AP Photo/ Louis Lanzano, file)" border="0" /></a>AP - Federal regulators filed securities fraud charges Monday against a prominent California investment adviser and a New York brokerage firm said to be secretly controlled by Bernard Madoff, accusing them of funneling billions of dollars from investors into Madoff's Ponzi scheme.</p><br clear="all"/> <p><a href="http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090623/ap_on_bi_ge/us_sec_madoff_associates"><img src="http://d.yimg.com/a/p/ap/20090622/capt.de44c21e6f534782adf16c3ca2cc5904.madoff_associates_nybz170.jpg?x=130&y=97&q=85&sig=9OxlmPybOoIUKimP84giUg--" align="left" height="97" width="130" alt="photo" title="FILE - In this March 12, 2009 file photo, Bernard Madoff arrives at Manhattan federal court in New York. Federal regulators on Monday, June 22, 2009 announced they have charged a brokerage firm called Cohmad Securities and four people with securities fraud, accusing them of funneling billions of dollars from investors into Madoff's pyramid scheme. (AP Photo/ Louis Lanzano, file)" border="0"/></a></p><br clear="all"/> (AP) http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090622/ap_on_bi_ge/us_ponzi_lawsuit ap/20090622/us_ponzi_lawsuit AP business Mon, 22 Jun 2009 20:57:34 GMT AP - The Securities and Exchange Commission says four business partners defrauded investors out of more than $11 million by promising significant returns on a fictitious no-risk investment. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/nm/20090622/us_nm/us_stanford_receiver nm/20090622/us_stanford_receiver Reuters us Mon, 22 Jun 2009 18:41:28 GMT Reuters - The U.S. Securities and Exchange Commission sought to reduce fees for the receiver appointed to recover assets for clients of accused swindler Allen Stanford only after it was discovered that the estate was worth less than expected, lawyers for the receiver said. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090619/ap_on_re_us/us_nj_candidate_testimony ap/20090619/us_nj_candidate_testimony AP us Fri, 19 Jun 2009 22:14:36 GMT AP - New Jersey's Republican candidate for governor has agreed to testify before a congressional subcommittee on white-collar crime settlements he brokered as U.S. attorney. http://us.rd.yahoo.com/dailynews/rss/corpfraud/*http://news.yahoo.com/s/ap/20090619/ap_on_re_us/al_healthsouth_scrushy ap/20090619/al_healthsouth_scrushy AP us Fri, 19 Jun 2009 20:27:29 GMT AP - Attorneys have asked an Alabama judge to freeze the assets of former HealthSouth CEO Richard Scrushy so they can begin collecting a nearly $2.9 billion judgment against him.