Latest Corporate crime News

Ponzi scheme suspect paid $720K for prayers amid SEC probe

Oct. 12, 2018 6:12 PM EDT

GREENBELT, Md. (AP) — An investment adviser charged with orchestrating a multimillion-dollar Ponzi scheme spent nearly three-quarters of a million dollars on prayers by Hindu priests in India to ward off a federal investigation and save her failing business, according to testimony at her trial this week....

Not guilty plea entered in GE Aviation espionage case

Oct. 12, 2018 5:09 PM EDT

COLUMBUS, Ohio (AP) — A Chinese national pleaded not guilty Friday to charges of trying to steal trade secrets from multiple U.S. aviation and aerospace companies, including GE Aviation. Defendant Yanjun Xu was also ordered by a magistrate judge to be detained before trial over the objections of Xu's...

House seat suddenly in play after Trump backer's indictment

Oct. 12, 2018 7:45 AM EDT

HAMBURG, N.Y. (AP) — New York's most conservative congressional district is unexpectedly in play as Republican incumbent Chris Collins, one of President Donald Trump's first supporters, fights insider trading charges while seeking re-election. Republican leaders in a western New York district that Trump...

Judge sets NY congressman's insider trading trial for 2020

Oct. 11, 2018 6:15 PM EDT

NEW YORK (AP) — A February 2020 trial date was set Thursday for a U.S. congressman indicted on federal insider trading charges. U.S. District Judge Vernon S. Broderick scheduled jury selection to begin Feb. 3, 2020, for U.S. Rep. Chris Collins after prosecutors relaxed their insistence that the trial must...

'Greedy' young mayor stole from investors, feds say

Oct. 11, 2018 6:06 PM EDT

BOSTON (AP) — A Massachusetts mayor who was first elected at age 23 was charged Thursday with using investments in a company he formed as his "own personal ATM" to enjoy casinos and adult entertainment, buy a Mercedes, and pay down student loan debt. Jasiel Correia, the mayor of Fall River, collected more...

The Latest: Mayor charged with fraud says he's innocent

Oct. 11, 2018 6:00 PM EDT

BOSTON (AP) — The Latest on the arrest of a Massachusetts mayor on federal fraud charges (all times local): 5:30 p.m. A 26-year-old Massachusetts mayor charged with defrauding investors says he is innocent. Fall River Mayor Jasiel Correia said in a written statement Thursday that these "unfortunate...

Shareholders must vote on Musk's return as Tesla chairman

Oct. 11, 2018 4:34 PM EDT

If Tesla CEO Elon Musk wants to return as chairman, shareholders will have to vote on it. The requirement is detailed in a court brief filed jointly on Thursday by Tesla and the Securities and Exchange Commission. The brief was required by a federal judge who must approve a securities fraud settlement reached...

3 farmers to plead guilty in organic grain fraud scheme

Oct. 11, 2018 3:30 PM EDT

IOWA CITY, Iowa (AP) — Three Nebraska farmers will plead guilty to knowingly marketing non-organic corn and soybeans as certified organic as part of a lengthy, multi-million-dollar fraud scheme, federal prosecutors revealed Thursday. Tom Brennan, his son James Brennan and family friend Michael Potter have...

China says accusations against alleged spy 'out of thin air'

Oct. 11, 2018 6:37 AM EDT

BEIJING (AP) — China said Thursday that accusations against an alleged Chinese spy accused of attempting to steal trade secrets from American aviation and aerospace companies were "made out of thin air." Yanjun Xu, an operative of China's Ministry of State Security, was charged Wednesday in Cincinnati,...

Brazil: Mexico dragging feet on Odebrecht corruption scandal

Oct. 10, 2018 8:50 PM EDT

RIO DE JANEIRO (AP) — Across Latin America, prosecutors have been pressing charges in recent years against politicians accused of corruption in the scandal involving Brazilian construction giant Odebrecht, which admitted to paying $800 million in bribes in the region. Not in Mexico. Evidence that could...