Latest Corporate governance News

Markets Right Now: Trade hopes send stocks to records

Nov. 15, 2019 4:12 PM EST

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing at all-time highs after U.S. officials said they’re making progress in the latest push for a trade agreement with China. Technology stocks were the biggest winners Friday. Applied Materials...

Ailing ex-telecom executive Ebbers seeks release from prison

Nov. 15, 2019 1:55 PM EST

JACKSON, Miss. (AP) — A former telecommunications executive convicted in one of the largest corporate accounting scandals in U.S. history is asking a judge to shorten his prison sentence so he can be released as his health deteriorates. Bernard Ebbers led WorldCom, once one of the world’s largest...

Japan's Softbank posts big losses after WeWork debacle

Nov. 6, 2019 12:51 PM EST

TOKYO (AP) — SoftBank, the Japanese technology conglomerate famous for seismic and visionary bets, has lost $4.7 billion in the WeWork debacle, the company said Wednesday. SoftBank posted losses of 700 billion yen ($6.4 billion) in the July-September quarter, with the damage coming largely from its Vision...

Charges against college officials declined after audit

Nov. 5, 2019 11:44 AM EST

BISMARCK, N.D. (AP) — Prosecutors have declined to pursue criminal charges against North Dakota State College of Science officials accused of withholding records from investigators. Cass County State's Attorney Birch Burdick said in a letter Friday that there was no proof college President John Richman or...

Accountant who ripped off Olympic snowboarder gets prison

Oct. 25, 2019 7:39 PM EDT

PORTLAND, Ore. (AP) — A former Oregon certified public accountant who stole about $4.5 million from his clients, including Olympic snowboarder Daniel Kass, to support his "Playboy" lifestyle and marijuana business has been sentenced to over four years in prison. Victims told a federal judge Thursday how...

Accountant convicted of helping ex-state senator defraud IRS

Oct. 17, 2019 3:33 PM EDT

BOSTON (AP) — An accountant has been convicted by a federal grand jury of conspiring with a former state senator to defraud the IRS. Massachusetts U.S. Attorney Andrew Lelling says 67-year-old John Nardozzi, of Waltham, Massachusetts, was convicted Wednesday of defrauding the IRS of approximately $600,000....

Kansas City man sentenced to prison for tax fraud scheme

Sep. 28, 2019 12:55 PM EDT

KANSAS CITY, Mo. (AP) — A Kansas City man has been sentenced to 15 months in federal prison for tax fraud. Federal prosecutors for Missouri say 40-year-old William Patrick Vogt was sentenced Friday in federal court. Vogt pleaded guilty in May to one count of false statements on a tax return and agreed to...

Fiat Chrysler to pay $40M fine for overstating sales numbers

Sep. 27, 2019 1:55 PM EDT

DETROIT (AP) — Fiat Chrysler is paying $40 million to settle with U.S. securities regulators who say the automaker misled investors by overstating its monthly sales numbers over a five-year period. The Italian-American company inflated sales by paying dealers to report fake numbers from 2012 to 2016, the...