Latest Corporate crime News

Judge freezes assets of Florida church in Ponzi scheme case

May. 24, 2019 8:30 AM EDT

WEST PALM BEACH, Fla. (AP) — The pastor of a Florida church is refusing to turn over $1.7 million that financial regulators claim belongs to people who were caught up in a $30 million Ponzi scheme. The Palm Beach Post reports a federal judge temporarily froze the accounts of Winners Church and pastors Fred...

Bank CEO pleads not guilty in bid to get Trump post

May. 23, 2019 9:26 PM EDT

NEW YORK (AP) — A banker who prosecutors say tried to buy himself a senior post in President Donald Trump's administration by making risky loans to former Trump campaign chairman Paul Manafort pleaded not guilty Thursday to a financial institution bribery charge as his lawyer said he's done nothing wrong....

Tokyo-Vegas investment chief gets 50 years in huge scheme

May. 23, 2019 7:08 PM EDT

LAS VEGAS (AP) — The former head of a Tokyo and Las Vegas investment firm was sentenced Thursday to 50 years in prison for bilking thousands of Japanese victims in what prosecutors called a $1.5 billion international Ponzi scheme that ranks among the largest-ever fraud cases in the U.S. Defendant Edwin...

ADEQ files a $100M suit vs water company, citing violations

May. 23, 2019 7:04 PM EDT

SAN TAN VALLEY, Ariz. (AP) — The Arizona Department of Environmental Quality has filed a $100 million lawsuit against a San Tan Valley water company over alleged water-quality violations. ADEQ officials say the 57-count civil complaint comes after Johnson Utilities allegedly violated numerous water-quality...

The Latest: Stephen Calk pleads not guilty in loan scheme

May. 23, 2019 3:35 PM EDT

NEW YORK (AP) — The latest on the charges against bank CEO Stephen Calk (all times local): 3:30 p.m. A banker charged in New York with issuing loans to win a role in President Donald Trump's administration has pleaded not guilty. Stephen Calk entered the plea during an appearance in Manhattan federal court...

Mexico official says former Pemex chief was sanctioned

May. 23, 2019 12:03 PM EDT

MEXICO CITY (AP) — A former executive at Mexico's state-owned oil company who was sanctioned this week by the comptroller's office has been identified as Pemex's former director Emilio Lozoya by the head of the country's financial intelligence unit. Santiago Nieto, who investigates crimes for Mexico's...

Ex-fire chief sentenced for stealing $10M in Ponzi scheme

May. 23, 2019 11:32 AM EDT

TRENTON, N.J. (AP) — A former municipal fire chief and investment manager is headed to prison for running Ponzi scheme that stole more than $10 million from his family, friends and fellow firefighters. Vincent Falci was sentenced Wednesday to 15 years. He'll also have to pay restitution and forfeit some...

Massachusetts woman pleads guilty to lying to get $4M loan

May. 23, 2019 11:12 AM EDT

BOSTON (AP) — A Massachusetts woman who lied to a bank about her company's financial condition and even submitted falsified documentation to get a $4.2 million loan has pleaded guilty to fraud. Federal prosecutors say 53-year-old Beth Zastawny, of Ludlow, pleaded guilty in Springfield federal court on...

Germany's Bosch fined $100 million over diesel scandal

May. 23, 2019 7:28 AM EDT

BERLIN (AP) — German prosecutors have fined auto parts and technology company Bosch 90 million euros ($100 million) over its role in the diesel emissions scandal that erupted at Volkswagen in 2015. Prosecutors in Stuttgart said Thursday that the company, formally called Robert Bosch GmbH, was fined for a...

Ex-detective pleads guilty to operating brothels

May. 22, 2019 9:34 PM EDT

NEW YORK (AP) — A retired New York Police Department vice detective and his wife have admitted to running a prostitution and gambling ring that allegedly involved seven police officers and dozens of civilians. Prosecutors say 51-year-old Ludwig Paz pleaded guilty Wednesday to attempted enterprise...