Latest Corporate crime News

Man sentenced in $4 million fraud scheme involving boats

Sep. 17, 2021 18:17 PM EDT

SPRINGFIELD, Mo. (AP) — A Rogersville man was sentenced Friday to five years in federal prison for running a boat building scheme that defrauded customers out of more than $4 million. Michael Michael David Dismer, 53, was sentenced for tax evasion for failing to pay...

SEC charges Florida man for insider trading of Mylan stock

Sep. 17, 2021 18:03 PM EDT

NEW YORK (AP) — A former executive at pharmaceutical company Mylan has pleaded guilty to insider trading in the company’s securities, the Justice Department said Friday. The department said Dayakar Mallu, 51, of Orlando, Florida, worked with another executive at Mylan...

Company to pay USAF sergeant $60K for auctioning possessions

Sep. 16, 2021 14:56 PM EDT

BOSTON (AP) — A Massachusetts storage company that federal prosecutors said illegally auctioned the personal possessions of an Air Force sergeant while he was deployed has agreed to pay the service member $60,000 in compensation, the U.S. attorney's office in Boston announced Thursday. ...

Seafood company owner pleads guilty to visa fraud

Sep. 16, 2021 12:00 PM EDT

BALTIMORE (AP) — An Eastern Shore ice and seafood company and its owner have pleaded guilty to employing foreign workers illegally and visa fraud in a manipulation of a seasonal worker program to boost profits at the workers’ expense, federal prosecutors announced Wednesday. ...

Ex-shoe company exec gets nearly 6 years for embezzlement

Sep. 16, 2021 08:55 AM EDT

BOSTON (AP) — A former executive at a nearly 140-year-old shoe manufacturer in Massachusetts has been sentenced to nearly six years in prison for embezzling $30 million from the company and spending it on luxury items and travel for himself and another person, federal prosecutors in Boston...

Official: Reality TV star sentenced for Ponzi scheme, fraud

Sep. 15, 2021 18:39 PM EDT

ATLANTA (AP) — A former cast member on the reality television show Love & Hip Hop: Atlanta has been sentenced to more than 17 years in federal prison for conspiracy and wire fraud related to a Ponzi scheme and related charges involving a fraudulent Paycheck Protection Program loan...

Man gets over 7 years in prison in cryptocurrency scam

Sep. 15, 2021 18:01 PM EDT

NEW YORK (AP) — An Australian man who pleaded guilty to securities fraud for cheating investors in his cryptocurrency fund of over $50 million was sentenced to over seven years in prison Wednesday by a judge who questioned the sincerity of his apology. U.S. District...

Man sentenced in Sweden for corporate espionage for Russia

Sep. 15, 2021 09:43 AM EDT

STOCKHOLM (AP) — A Swedish court has sentenced a 47-year-old man to three years in prison for spying for Russia by handing over confidential information on the Swedish truck and bus maker Scania to a Russian diplomat in return for money over several years. The man,...

Chinese tycoon's companies pay $539M in US securities case

Sep. 14, 2021 02:40 AM EDT

NEW YORK (AP) — Three companies linked to a Chinese businessman who is a prominent critic of his country’s ruling Communist Party have agreed to pay $539 million to settle charges they conducted an illegal securities offering, according to regulators. The New York-...

1st trial in college admissions scandal gets underway

Sep. 13, 2021 18:21 PM EDT

BOSTON (AP) — The first trial in the college admissions bribery scandal opened Monday with defense attorneys seeking to portray the two parents accused of buying their kids' way into school as victims of a con man who believed their payments were legitimate donations. ...