Latest Corporate crime News

Japan father, son win release before US trial in Ponzi case

Apr. 24, 2019 10:32 PM EDT

LAS VEGAS (AP) — A father and son from Japan can be freed from federal custody to live with relatives in a rented Las Vegas apartment pending trial on fraud charges in what prosecutors call a $1.5 billion international Ponzi scheme, a judge decided Wednesday. U.S. Magistrate Judge Cam Ferenbach...

Kansas announces extension of deal with Adidas through 2031

Apr. 24, 2019 2:19 PM EDT

LAWRENCE, Kan. (AP) — The University of Kansas and Adidas announced Wednesday an extension of their contract through 2031, despite an FBI investigation centered on the footwear and apparel company that cast a negative light on the Jayhawks' athletic programs. The Jayhawks have worn Adidas gear since 2005....

Rehab patients' unpaid work for big companies likely illegal

Apr. 24, 2019 1:15 PM EDT

A nationally renowned drug rehab program in Texas and Louisiana has sent patients struggling with addiction to work for free for some of the biggest companies in America, likely in violation of federal labor law. The Cenikor Foundation has dispatched tens of thousands of patients to work without pay at more than...

China rejects 'unfounded hype' after GE spying accusation

Apr. 24, 2019 7:39 AM EDT

BEIJING (AP) — China's government on Wednesday rejected accusations that it steals technology after a former General Electric Co. engineer and his Chinese business partner were indicted on charges of industrial spying. The charges announced Tuesday come amid a tariff war between Beijing and Washington over...

Indictment: Ex-CEO ignored red flags as opioid crisis raged

Apr. 23, 2019 6:56 PM EDT

NEW YORK (AP) — The pharmaceutical industry executive hit Tuesday with criminal charges stemming from the opioid crisis doesn't have his name on a museum wing, and his company isn't within earshot of Apple or anyone else on the Fortune 500. Even his $1.5 million paycheck was a paltry sum compared to his...

Ex-GE engineer charged with stealing trade secrets for China

Apr. 23, 2019 4:49 PM EDT

ALBANY, N.Y. (AP) — A former General Electric engineer and his business partner in China were indicted Tuesday on charges they stole the company's trade secrets from a New York plant for the Chinese government in what federal prosecutors called "a textbook example" of industrial espionage. The Department...

Jury selected in 2nd trial over NCAA recruitment

Apr. 22, 2019 6:57 PM EDT

NEW YORK (AP) — A jury was selected Monday to hear evidence in the trial of an aspiring agent and a former amateur coach charged with bribing big-school coaches to boost their business prospects with amateur basketball players. Opening statements by lawyers were scheduled to occur Tuesday morning in...

Japanese father, son appear in Las Vegas in $1.5B fraud case

Apr. 18, 2019 8:27 PM EDT

LAS VEGAS (AP) — Two former investment executives from Japan pleaded not guilty in Las Vegas on Thursday to criminal fraud charges in what prosecutors have called a $1.5 billion international Ponzi scheme. Junzo Suzuki, 70, and his son, Paul Suzuki, 40, arrived in custody in the U.S. on Wednesday, and...

Peru's ex-president Kuczynski hospitalized after jailing

Apr. 17, 2019 7:41 AM EDT

LIMA, Peru (AP) — Former Peruvian President Pedro Pablo Kuczynski has been hospitalized days after he was detained as part of a money laundering probe into his ties to the company at the heart of Latin America's biggest graft scandal. Congressional allies of Kuczynski said he was taken Tuesday night to a...

Former Volkswagen CEO charged with fraud in Germany

Apr. 15, 2019 4:06 PM EDT

FRANKFURT, Germany (AP) — German prosecutors charged former Volkswagen CEO Martin Winterkorn and four others with fraud in the emissions cheating scandal that has helped turn many Europeans against diesel engines and accelerated the push toward electric cars. Prosecutors said Monday that Winterkorn knew...