30

Gardai investigating alleged fraud of €500,000 at Fas

Gardai are investigating an alleged expenses fraud at Fas that is suspected to have cost the state training agency more than €500,000 over a seven-year period. (Read more...)

Caribbean bank to yield £200m after unpaid Vat fraud probe

FINANCIAL SLEUTHS acting for British taxpayers have won the legal right to recover an estimated £200m in unpaid Vat which is sitting in a Caribbean bank at the centre of an international fraud inquiry. (Read more...)

28

Evidence against Livent founders 'overwhelming': Crown

TORONTO - Evidence that Garth Drabinsky and Myron Gottlieb directed a "large-scale accounting fraud" for several years at Livent Inc. is "overwhelming," says the Crown in its written final arguments. (Read more...)

27

Israeli PM under pressure to step aside

PETACH TIKVA, Israel (Reuters) - Israeli Prime Minister Ehud Olmert came under pressure from his own party on Thursday to step aside after the attorney-general announced he was considering indicting him on fraud and bribery charges. (Read more...)

Tajik Aluminium settles $500m fraud claim

One of the most expensive lawsuits in British history settled today after three years of bitter accusations and tens of millions of pounds spent on legal fees.

The case, which arose from a fight for control of an aluminium smelter in Tajikistan, one of central Asia’s poorest countries, began last month at the High Court in London.

Tajik Aluminium Company (Talco), the smelter’s state-controlled operator, accused its former business partner, Azar Nazarov, of defrauding it of more than $500 million (£315 million) between 1996 and 2004 through a corrupt relationship with the plant’s former manager. Mr Nazarov, who denied the allegations, sought around $130 million in a counter-claim against Talco. (Read more...)

26

Corruption suspicions cost Bulgaria millions

BRUSSELS: Bulgaria has lost the right to €220 million (R2.8 billion) in European Union funds for its failure to adequately tackle corruption.

A European Commission spokeswoman said yesterday: "After careful analysis . . . we regret that we have to maintain the suspension of payments" of aid money earmarked for Sofia, meaning the deadline for using the money would expire. (Read more...)

SFO arrests five in Olympic ticket fraud probe

Five people connected to an online agency suspected of scamming thousands of people in a ticket fraud relating to the Beijing Olympics have been arrested by the Serious Fraud Office (SFO). (Read more...)

25

Online Fraud Costs May Be $5.3 Billion, Symantec Says

Online criminals stole credit-card, bank and gaming accounts over a one-year period that were potentially worth $5.3 billion, fueling a thriving underground market for consumers' identities, a Symantec Corp. study found. (Read more...)

24

China's richest man 'under investigation'

BEIJING, China (CNN) -- Trading in a Chinese electrical appliances company was halted Monday after reports that its chairman -- the richest man in mainland China -- is under investigation on charges of stock market manipulation, the company said. (Read more...)

20

Federal Government Charges 6 In $40 Million Class-Action Settlement Fraud

Six people have been charged with participating in a scheme to steal more than $40 million in settlement funds from class-action lawsuits. (Read more...)

19

Wachovia, Golden West Loans Probed by U.S. Prosecutor

U.S. prosecutors and the Securities and Exchange Commission opened an investigation into whether Wachovia Corp. misled borrowers and investors, San Francisco U.S. Attorney Joseph Russoniello said. (Read more...)

Natural Gas Trader Guilty Of $800M Fraud

MANHATTAN—A former Bank of Montreal (BMO) natural gas trader has pleaded guilty to intentionally mismarking his trading book, resulting in one of the largest fraud-related trading losses of over $800 million from a trading desk in Manhattan. (Read more...)

18

Jail them - prosecutors say in Siemens case

Berlin - A former Siemens executive and a former labour leader who had helped build up a "counterforce" to union IG Metall using company funds should be jailed, prosecutors told a German court yesterday. (Read more...)

17

Tanzi denies role in fraud

MILAN, Italy (AP) — Parmalat founder Calisto Tanzi on Monday denied a role in orchestrating fraud that led to the stunning 2003 failure of his dairy empire as a three-year-old trial in the case drew to a close. (Read more...)

14

American Apparel CEO Accused of Cooking the Books

A former employee of American Apparel has accused CEO Dov Charney of pressuring him to manipulate the accounting for the clothing retailer and then firing him when he refused. (Read more...)

Port Orchard man found guilty of multi-million dollar fraud

A Port Orchard man, Charles Nolon Bush, was found guilty Thursday of 27 counts of fraud and money laundering by a U.S. District Court jury in Tacoma.

He’ll be sentenced Feb. 6, 2009 by U.S. District Judge Benjamin Settle and faces more than 20 years in jail and a fine of $1 million or more. (Read more...)

Lawyer Indicted In Tax-Shelter Fraud Scheme

NEW YORK -(Dow Jones)- A one-time lawyer and certified public accountant has been indicted on criminal charges related to an allegedly fraudulent tax shelter that helped wealthy persons avoid paying more than $103 million in taxes. (Read more...)

Tech billionaire to be sentenced for fraud Friday

ALEXANDRIA, Va. (AP) — Charles "Junior" Johnson was a flashy Las Vegas entrepreneur who was briefly a billionaire back in the days of the dot-com bubble.

On Friday he could be sentenced to up to 18 years in prison for defrauding investors and compounding his woes by trying to cheat at his federal trial. (Read more...)

13

Calif County Accuses Lehman Executives, Auditor Of Fraud In Suit

The San Mateo County (Calif.) Investment Pool sued executives of bankrupt Lehman Brothers Holdings Inc. (LEHMQ) and their accountants, accusing them of fraud, deceit and misleading accounting practices that led to the loss of more than $150 million in county funds. (Read more...)

Online bank attacks increase

The number of malicious programs aimed at banks will rise to 20 million attacks this year. This statement was made in a report by Kaspersky Lab global research head Aleks Gostev. (Read more...)

AMD man charged for stealing Intel trade secrets

$1billion worth of trade secrets allegedly pinched by AMD man while still on Intel payroll

Former Intel engineer Biswamohan Pani is being charged with stealing $1 billion worth of Intel trade secrets after he resigned to join AMD. (Read more...)

Czech police suspect three men of CZK 31 million fraud

Hradec Kralove, Nov 12 (CTK) - The Hradec Kralove police suspect three men aged from 44 to 55 of fraud worth over 31 million crowns that they committed by offering non-existing agricultural products to companies for sale for which they face up to 12 years in prison, regional economic crime police head Petr Syrovec told CTK Wednesday. (Read more...)

11

Fraud unit civil servant sacked for wife's deals worth £165,000

A senior civil servant was able to employ his wife for nearly three years in two fraud prosecution offices on "lucrative" consultancies worth nearly £165,000, before he was sacked for gross misconduct, an MPs' report reveals. (Read more...)

US recovered $1.34b from settlements of fraud cases

WASHINGTON - The United States recovered $1.34 billion to resolve claims of fraud against the government in fiscal 2008, obtaining settlements from companies including Merck & Co., Cephalon Inc., and Amerigroup Corp., the Justice Department said. (Read more...)

09

EU Finance Ministers Reach Agreement On VAT Fraud

European Finance Ministers reached an agreement in principle at this month's ECOFIN meeting to strengthen the legislative response to value-added tax (VAT) fraud by adopting a new directive and regulations. (Read more...)

08

Turning up the heat on boiler room fraud

Every year British investors are being conned out of £500m by so-called boiler rooms - illegal overseas share pushers selling virtually worthless stocks using high-pressure tactics. But even that estimate is "conservative, almost laughably low," according to Detective Superintendent Bob Wishart, deputy head of operations for the City of London police economic crime department effectively Britain's top cop in the fight against boiler room fraudsters. (Read more...)

07

Ont. man arrested in $3.5M church fraud

TORONTO - York Regional Police have arrested a 27-year-old man after at least 21 members of a church congregation were defrauded of approximately $3.5 million. (Read more...)

Card fraud costs $500m

AUSTRALIANS lost more than half a billion dollars in credit card fraud last year, and security experts warn that banks are not doing enough to protect customers online and are playing down the problem for fear of harming their reputations. (Read more...)

06

South River couple plead guilty to $2.5M investment fraud

NEWARK —A South River husband and wife who ran a tax-preparationbusiness in East Brunswick have pleaded guilty to bilking 47 investors out ofnearly $2.5 million, money they spent at casinos and on cruises, cars and collectibles. (Read more...)

Fraud financed lavish life of 'prince'

WHEN Hasan Bulli went to school in Melbourne's western suburbs after immigrating with his family from Turkey, his mates called him "The Prince".

But this boy from Broadmeadows soon got sick of his humble beginnings, lack of academic success and struggling business ventures. He decided to try and live out his childhood fantasy.

At 33, he changed his named to Omar Jihad Yusuf, gave himself an honorary title of Saudi Arabian prince, created his own stamps and even a royal seal. (Read more...)

05

Miami Physician Sentenced to 84 Months in Prison for $26.2 Million Medicare Fraud

Miami physician Ronald Harris, 58, was sentenced today to 84 months in prison and medical clinic administrator Mariela Rodriguez, 40, was sentenced today to 70 months in prison for defrauding the Medicare program in connection with large scale HIV infusion fraud schemes. (Read more...)

Japan's pop king held for fraud

Ten years ago, he was one of Japan's richest and most flamboyant characters, a celebrated pop producer who once boasted that he had lost track of how much money he had made.

But Tetsuya Komuro's fall from grace was complete yesterday when he was arrested on suspicion of fraud, accused of swindling an investor out of ¥500m (£3m), by selling him rights to music he did not own. (Read more...)

Tax-fraud raids nab 19

MONTREAL - A total of 19 individuals - including an undisclosed number of construction contractors, one notary and four accountants - were arrested Tuesday during a series of tax-fraud raids conducted by the Sûreté du Québec and Revenue Québec. (Read more...)

04

Fraud trial of theater impresarios nears end

TORONTO (Hollywood Reporter) - The fraud trial of former Broadway producers Garth Drabinsky and Myron Gottlieb is approaching the finish line after the co-founders of failed entertainment firm Livent Inc. said they would not call witnesses in their defense. (Read more...)

6,788 pages, 237 exhibits and 10 years later

TORONTO -- Garth Drabinsky has long been a fixture in Canada's entertainment industry, first as a movie theatre executive, then as Canada's top live-theatre producer and most recently as a television producer.

Now, with the conclusion of one of Canada's most high-profile corporate fraud cases looming, Mr. Drabinsky also faces a judge's decision that will determine whether he could become the most prominent executive to be found guilty in Canada of an accounting fraud. (Read more...)

03

Chicago's 'Fast Eddie' alderman headed for trial

CHICAGO (AP) — Edward R. Vrdolyak was the tough, street-wise leader of white aldermen in a spectacular feud with the city's first black mayor 25 years ago. He lost that fight but went on to get rich as a deal maker at the shadowy fringes of Chicago politics. (Read more...)

Duncan fraud trial starts in SA

A former Hawke government minister and South Australian attorney-general has gone on trial in Adelaide.

Peter Duncan, 63, is facing charges that he defrauded the commonwealth. (Read more...)

Judge: AIG reserves fraud caused big investor loss

NEW YORK (Reuters) - A financial manipulation scheme cost American International Group Inc investors at least $544 million, a judge has estimated, a finding that could mean the five former executives convicted in the fraud will face lengthy prison terms when sentenced. (Read more...)

02

The woman who brought down Tom Petters

She came from humble beginnings but quickly grew accustomed to the millionaire lifestyle she learned from and could afford because of her boss and mentor. It was only when she lost faith in the unscrupulous business practices in which she took part that Deanna Coleman turned to the FBI. (Read more...)

01

Judge keeps Petters behind bars

In one deal he could not close, Wayzata businessman Tom Petters lost his bid Friday to get out of jail on bail after his attorney failed to convince Chief U.S. District Judge Michael Davis that Petters wouldn't go on the lam. (Read more...)

Former chief executive could get life in prison for defrauding investors

Lance K. Poulsen stood motionless to hear the verdict -- guilty on all 12 counts in a fraud that cost investors more than $2 billion and could cost Poulsen the rest of his life in prison. (Read more...)

£2.5m fraud probe couple in court

Husband and wife Douglas and Joan Brown faced a judge at Teesside Crown Court after being arrested over the alleged deception.

Former company boss Douglas Brown, 60, faces 30 charges of obtaining property by deception and one charge of converting proceeds of crime spanning 12 years. (Read more...)