Latest Corporate crime News

US: German company to plead guilty in VW emissions scheme

Dec. 18, 2018 7:27 PM EST

DETROIT (AP) — U.S. authorities say a German engineering company has agreed to plead guilty and pay $35 million for its role in the Volkswagen vehicle emissions scandal. The Justice Department said Tuesday that IAV has agreed to plead guilty to conspiracy in Detroit federal court on Jan. 18. The government...

Ex-union official sentenced in federal corruption probe

Dec. 18, 2018 2:57 PM EST

DETROIT (AP) — A former United Auto Workers official convicted of accepting bribes from Fiat Chrysler executives has been sentenced to a year in prison. The U.S. Attorney's office says a federal judge in Detroit also ordered Nancy Johnson on Tuesday to pay a $10,000 fine. Johnson pleaded guilty in July to...

CBS denies former CEO Les Moonves $120 million severance

Dec. 18, 2018 2:19 AM EST

NEW YORK (AP) — CBS announced Monday that former CEO Les Moonves will not receive his $120 million severance package after the board of directors concluded he violated company policy and was uncooperative with an investigation into sexual misconduct allegations. The decision, which came after a five-month...

Ex-bank president gets 6 years prison for fraud, conspiracy

Dec. 17, 2018 2:53 PM EST

WILMINGTON, Del. (AP) — The former president of the only financial institution criminally charged in connection with the federal bank bailout program was sentenced Monday to six years in prison for covering up the bank's troubled condition in the wake of the 2008 financial crisis. Former Wilmington Trust...

Minnesota men learning fate for North Dakota stock scheme

Dec. 17, 2018 1:25 PM EST

MINNEAPOLIS (AP) — A Minnesota man who helped found a business in North Dakota's oil patch has been sentenced to 12 years in prison for fraud in a stock manipulation scheme. His co-defendant will learn his fate later this week. Ryan Gilbertson, 42, on Dec. 11 also was fined $2 million and ordered to pay...

Nissan board meets but no chairman picked to replace Ghosn

Dec. 17, 2018 6:40 AM EST

YOKOHAMA, Japan (AP) — Nissan's board met Monday but failed to pick a new chairman to replace Carlos Ghosn, who was arrested last month on charges of violating financial regulations, saying more discussion was needed. Nissan Motor Co. Chief Executive Hiroto Saikawa told reporters that the board approved a...

Nissan to replace rock-star chairman amid arrest scandal

Dec. 17, 2018 12:37 AM EST

TOKYO (AP) — Nissan's board is meeting to pick a chairman to replace Carlos Ghosn, arrested last month on charges of violating financial regulations. Monday's meeting comes amid an unfolding scandal that threatens the Japanese automaker's two-decade alliance with Renault SA of France and its global brand,...

US, Canada look to ease strains amid 3-way spat with China

Dec. 14, 2018 6:14 PM EST

WASHINGTON (AP) — The United States and Canada moved Friday to ease tensions between them over the case of a top Chinese technology executive whose arrest by Canadian authorities has sparked a diplomatic crisis entangling the three countries. Meng Wanzhou, the chief financial officer of Chinese...

The Latest: Pompeo condemns China's detention of 2 Canadians

Dec. 14, 2018 1:55 PM EST

WASHINGTON (AP) — The Latest on talks between the U.S. and Canada (all times local): ___ 1:50 p.m. U.S. Secretary of State Mike Pompeo says the detention of two Canadian citizens in China is unlawful and is calling for them to be released. China detained the two Canadians this week in apparent retaliation...

Accountant gets 2 ½ years for stealing $580K from company

Dec. 14, 2018 12:50 PM EST

BOSTON (AP) — An accountant who stole nearly $600,000 from the Massachusetts company she worked for has been sentenced to 2 ½ years in prison. Federal prosecutors say 30-year-old Thanh Tam Tao Huynh, a Canadian citizen who was living in Quincy at the time, was sentenced Thursday in U.S. District...