Latest Corporate crime News
Vietnamese real estate tycoon, already sentenced to death for fraud, faces trial on new charges
HANOI, Vietnam (AP) — The second trial for Vietnamese real estate typcoon Truong My Lan — who was sentenced to death for financial fraud in April — started on Thursday, state media reported. The 67-year-old chair of the real estate company Van Thinh Phat was convicted for...
Britain's CEO of scandal-ridden Post Office will step down next year
LONDON (AP) — The chief executive of Britain’s scandal-ridden Post Office will step down next year, the company said Wednesday, as criticism mounts over the speed of compensation payments to branch managers wrongly convicted of theft or fraud because of a faulty computer system. ...
Georgia prosecutors drop all 15 counts of money laundering against 3 'Cop City' activists
ATLANTA (AP) — Georgia prosecutors on Tuesday dropped all 15 counts of money laundering that were levied against three Atlanta organizers accused of misusing a bail fund to aid violent protests against the city’s proposed police and fire training center. Atlanta Solidarity Fund...
Authorities arrest a relative of the King of Jordan and 3 others for $1M insider-trading plot
MIAMI (AP) — Authorities charged four men, including a relative of the King of Jordan, for conspiring to make insider stock trades on a business acquired by one of South Florida’s major publicly held companies, MasTec. Federico Nannini, 26; his father, Mauro Nannini, 63; and two...
Newly freed from federal restrictions, Wells Fargo agrees to shore up crime risk detection
Wells Fargo has agreed to work with U.S. bank regulators to shore up its financial crimes risk management, including internal controls related to suspicious activity and money laundering. Wells Fargo shares rose 2.4% Friday. The agreement comes just seven months after...
Utility ordered to pay $100 million for its role in Ohio bribery scheme
An energy company at the center of a $60 million bribery scheme in Ohio has been ordered by the U.S. Securities and Exchange Commission to pay a $100 million civil penalty for misleading investors about its role in the scandal. Akron-based FirstEnergy Corp. violated antifraud...
Fed official broke ethics rules but didn't violate insider trading laws, probe finds
WASHINGTON (AP) — A government investigation into Atlanta Federal Reserve President Raphael Bostic's securities trades and investments has found he violated several of the central bank's ethics policies. The Fed rules violations “created the appearance” that Bostic acted on...
Florida law enforcers are investigating the state's abortion ballot initiative. Here's what to know
TALLAHASSEE, Fla. (AP) — State police in Florida are showing up at the homes of voters who signed a petition to get an abortion rights amendment on the ballot in November as part of a state probe into alleged petition fraud. Republican Gov. Ron DeSantis has defended police...
Former Lebanon central bank chief to remain in jail while facing corruption charges
BEIRUT (AP) — A Lebanese judge ruled Monday that the country’s former central bank chief will remain in jail while facing charges of embezzling tens of millions of dollars from state coffers. Lebanon’s Financial Public Prosecution division charged Riad Salameh last week with...
Wynn Resorts paying $130M for letting illegal money reach gamblers at its Las Vegas Strip casino
LAS VEGAS (AP) — Casino company Wynn Resorts Ltd. has agreed to pay $130 million to federal authorities and admit that it let unlicensed money transfer businesses around the world funnel funds to gamblers at its flagship Las Vegas Strip property. The publicly traded company said a...
