Search Results for: Fraud
GSK confirms it fired staff for corruption in China in 2001
July 17th, 2014
GlaxoSmithKline said it fired staff in China for bribing officials in 2001 in a case that predates wider allegations of corruption for the British drugmaker in the country by more than a decade. About 30 staff in GSK’s vaccines ...
IRS Issues Final Regs On Truncated TINs
July 16th, 2014
As part of efforts to combat identity theft and tax refund fraud, the United States Treasury Department has released, in the Federal Registry, final regulations applicable to the use of Internal Revenue Service (IRS) truncated taxpayer identification numbers (TTINs). ...
SEBI bars Satyam’s B Ramalinga Raju, 4 others from capital markets for 14 years
July 16th, 2014
The Securities and Exchange Board of India on Tuesday barred former Satyam Computer Services, founder-chairman B Ramalinga Raju and four others from the market for 14 years for perpetuating the biggest accounting fraud in the country. The capital market ...
Bank Earnings Give Stocks a Boost
July 15th, 2014
A better-than-expected earnings report from Citigroup C +3.02% helped kick-start a rally in stocks, lifting market indexes nearly back to levels seen before last week’s swoon. Many investors remain optimistic about the outlook for stocks broadly, amid improving U.S. ...
Bitcoin Protected, VeriCoin Stolen in Latest Exchange Breach
July 15th, 2014
Digital currency exchange platform MintPal has suffered a successful hack attack that resulted in the loss millions of vericoins from its hot wallet. The 13th July attack targeted a vulnerability in the site’s withdrawal system. The hacker, according to ...
FCA warning against clone firms
July 14th, 2014
The Financial Conduct Authority (FCA), the British financial regulatory authority, has issued a warning informing the investors that “Castle Finance Direct” and “www.bridgingloansfinder.co.uk” are clone firms, thus, are not permitted to provide any financial services or products. Furthermore, FCA points out ...
State Street Agrees to Settle Forex Fee Suit for $60 Mln
July 10th, 2014
State Street Corp. (STT) agreed to pay $60 million to settle investor claims it inflated revenue by overcharging clients for foreign-exchange services, in a pact that resolves almost four years of litigation. The preliminary accord filed in Boston federal ...
Citigroup may pay $7 billion to resolve U.S. mortgage probes
July 9th, 2014
Citigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, a source familiar with the ...
Pfizer wins dismissal of U.S. investor class action ahead of trial
July 9th, 2014
Pfizer Inc (PFE.N) won the dismissal Tuesday of a long-running shareholder class action accusing the company of misleading investors about the safety of its Celebrex and Bextra pain-relieving drugs. The ruling by U.S. District Judge Laura Taylor Swain in ...
Gibraltar lawyers jailed over £40m client money scam
July 9th, 2014
Three brothers who ran one of Gibraltar’s largest law firms were jailed last week for fraud, four years after their firm, Marrache & Co, was put into liquidation. Benjamin, Isaac and Solomon Marrache were found guilty of fraud last ...
