Search Results for: fraud
Texas man charged in first-ever bitcoin Ponzi scheme
November 7th, 2014
In the first federal securities case involving a Ponzi-scheme using the digital currency, a Texas man was charged Thursday in New York with defrauding investors of millions of dollars worth of bitcoin. Trendon Shavers, 32, was arrested at his ...
GM tells court it not liable for claims over pre-bankruptcy cars
November 6th, 2014
General Motors (GM.N) said in a court filing on Wednesday that it should not have to face lawsuits based on safety issues in cars made before its 2009 bankruptcy, including a faulty ignition switch that led to the recall of ...
Petrobras Official Takes Leave in Possible PwC Resolution
November 5th, 2014
A senior Petroleo Brasileiro SA (PETR4) executive cited in a corruption investigation took a leave of absence, clearing the way for the company to report earnings and debate a fuel-price increase. Sergio Machado, head of the state-run oil producer’s transport unit ...
SAC’s Martoma wins delay of nine-year insider trading prison term
November 5th, 2014
Mathew Martoma, a former portfolio manager at billionaire Steven A. Cohen’s SAC Capital Advisors LP hedge fund, won an order Tuesday to delay the date he would begin serving a nine-year prison term for insider trading. The 2nd U.S. ...
Former UBS executive found not guilty in U.S. tax cheating trial
November 4th, 2014
A former top banker who headed global wealth management at UBS AG (UBSN.VX) (UBS.N) was found not guilty on Monday on U.S. charges of conspiring with wealthy Americans to hide $20 billion in secret offshore accounts. Raoul Weil, the ...
Jury acquits ex-Swiss banker in tax-dodging case
November 4th, 2014
Raoul Weil acquitted of charges he helped wealthy Americans to hide $20B from the IRS. A federal jury acquitted a former top Swiss banking executive of U.S. charges that he conspired with wealthy Americans to hide $20 billion in ...
Argentina suspends P&G over tax claims
November 3rd, 2014
Argentina has banned the consumer products giant Procter & Gamble (P&G) from doing business in the country, accusing the firm of tax fraud. A statement on the presidential website, published on Sunday, said P&G had inflated the price of ...
SEC and FINRA Warn Investors About Penny Stock Scams
October 31st, 2014
The Securities and Exchange Commission’s Office of Investor Education and Advocacy and the Financial Industry Regulatory Authority (FINRA) issued an alert warning investors that some penny stocks being aggressively promoted as great investment opportunities may in fact be stocks ...
MintPal Vows to Fight Former Moolah CEO in Court
October 31st, 2014
The owners of the troubled digital currency exchange MintPal are moving to take legal action against former Moopay LTD CEO Alex Green. Green, who was once known as Ryan Kennedy, is accused of stealing as much as 4,000 BTC ...
Hackers Probing the Financial System Show Reason to Worry
October 31st, 2014
Hackers are testing the financial system’s cyber defenses, and they can boast of some alarming success. Let’s start with what we know. JPMorgan Chase & Co. says a breach of its computer systems exposed the personal information of 76 ...
