Latest Corporate crime News

Vale-commissioned report says no warning before dam collapse

Dec. 12, 2019 4:24 PM EST

RIO DE JANEIRO (AP) — A company-commissioned study released Thursday on a deadly dam break in Brazil found that none of the structure's monitoring systems gave warning of the collapse that killed at least 257 people — though other experts have said the disaster could have been prevented. The report...

3 charged with running $722M cryptocurrency scam

Dec. 10, 2019 10:06 PM EST

NEWARK, N.J. (AP) — Three men were charged with running a cryptocurrency mining operation that officials labeled a “high-tech Ponzi scheme" that bilked investors out of $722 million, federal officials announced Tuesday. Matthew Goettsche, 37, was arrested Tuesday in Colorado, while Jobadiah Weeks,...

Lab owner to plead guilty in Medicare kickback scheme

Dec. 10, 2019 1:05 PM EST

PITTSBURGH (AP) — A Pennsylvania business owner has agreed to plead guilty in a $127 million kickback scheme involving his genetic testing labs. Ravitej Reddy is scheduled to plead guilty to federal charges that he conspired with out-of-state marketing companies to pay kickbacks for lucrative lab tests at...

Israel says defense officials caught in major bribery case

Dec. 10, 2019 11:22 AM EST

JERUSALEM (AP) — Israel's Justice Ministry said Tuesday it plans to prosecute suspects involved in a “serious corruption affair” in one of the country's defense bodies. Most details of the case, including the names of the suspects, were unavailable because of a gag order. But a statement by...

US oil executives jailed in Venezuela given house arrest

Dec. 10, 2019 2:42 AM EST

MIAMI (AP) — Six American oil executives held in an overcrowded Venezuelan prison for two years on corruption charges were granted house arrest Monday. The partial release of the six employees of Houston-based Citgo was confirmed to The Associated Press by two people familiar with the case who spoke on...

Egyptian whistleblower gets 5-year sentence in absentia

Dec. 10, 2019 12:15 AM EST

CAIRO (AP) — A self-exiled Egyptian businessman whose allegations of corruption against the country's military sparked rare protests has been sentenced in absentia to five years in prison for tax evasion. Mohamed Ali had released a series of viral videos from Spain earlier this year, pitching himself as a...

Las Vegas man sentenced for $5M payroll tax scam

Dec. 9, 2019 9:39 PM EST

LOS ANGELES (AP) — A Las Vegas man who bilked dozens of small businesses out of more than $5 million with a phony payroll company scheme was sentenced Monday to seven years and three months in prison, authorities said. Jason Newling, 47, who is a former Southern California resident, was sentenced in Los...

Vegas man gets prison time in China-US fake phone parts case

Dec. 9, 2019 7:35 PM EST

LAS VEGAS (AP) — Prosecutors say a Las Vegas business owner was sentenced Monday in San Diego to six months in federal prison for conspiring to import counterfeit cellphone parts from China to the United States. U.S. District Judge Thomas Whelan also ordered 32-year-old Saad Ahmed to pay nearly $270,000 in...

1 pleads guilty, another not guilty in $1B fraud scheme

Dec. 9, 2019 5:53 PM EST

CHICAGO (AP) — A former vice president of a Chicago-based health information company pleaded guilty Monday for his role in what authorities called a $1 billion fraud scheme. Ashik Desai pleaded guilty to wire fraud and agreed to cooperate with federal prosecutors, who said they would recommend that he...

Police seize 6 tractor-trailers over $75K in unpaid tolls

Dec. 9, 2019 4:52 PM EST

PORTLAND, Maine (AP) — Maine State Police seized a sixth tractor-trailer from a trucking company accused of amassing $75,000 in unpaid tolls, officials confirmed Monday. Commodity Haulers Express, of North Kingstown, Rhode Island, is facing felony theft-of-service charges over the unpaid Maine Turnpike...