The former chief executive and chief financial officer of Dutch retail giant Ahold have been found guilty of fraud.
A court in Amsterdam handed down the verdicts to Cees van der Hoeven and Michiel Meurs for their roles in one of Europe’s largest accounting scandals.
Each has been fined 225,000 euros ($286,800; £153,000) and given nine-month suspended sentences
HealthSouth Corp. agreed to pay $3 million and serve three years on probation in a deal with the government that spares the company an indictment over the $2.7-billion accounting fraud that almost triggered its collapse
South Korean prosecutors have indicted the chairman of carmaker Hyundai Motor for his alleged role in a bribery and embezzlement scandal.
Chung Mong-Koo was arrested at the end of April and has been accused of creating slush funds to pay politicians and officials for business favours.
He also is accused of transferring funds and shifting corporate controls to his son, Chung Eui-Sun
Former Enron bosses Kenneth Lay and Jeffrey Skilling stole from investors both to line their pockets and stroke their egos, their trial has heard.
The comments came from prosecutors presenting their closing arguments at the court in Houston, Texas.
Prosecuting lawyer Kathy Ruemmler said the case centred around “the lies these men told and the choices they made”
The judge in the Enron trial has ruled that jurors can find the energy firm’s former bosses guilty of deliberately avoiding knowledge of massive fraud.
The ruling has raised concerns among the defence team and legal experts.
Known as the “ostrich instruction”, because it refers to a person sticking their head in the sand, the ruling means that prosecutors will need a lower burden of proof to be successful
A computer glitch at Citibank branches in Japan has caused 274,800 incorrect transactions over the past week, the latest Japanese problem at the firm.
As a result of the error, some account holders had transactions wrongly recorded twice, while others took place but then did not appear on statements.
Citibank said the computer problem had now been fixed
he Hartford Financial Services Group has agreed to pay $20 million to settle an investigation into claims of fraudulent sales practices in retirement products, the attorneys general of Connecticut and New York said Wednesday.
The Hartford agreed to return $16.1 million in profit from the sales that Connecticut Attorney General Richard Blumenthal and New York Attorney General Eliot Spitzer say were arranged in concealed financial agreements with brokers
A Toyota employee has filed a $190m (£103m) lawsuit in the US, alleging that the carmaker’s top American boss sexually harassed her.
Sayaka Kobayashi, 42, claims Toyota North American chief executive Hideaki Otaka, 65, made repeated sexual advances to her in 2005.
Toyota said it had a “zero tolerance” policy towards sexual harassment, but declined to make any further comment
A Yahoo advertiser has accused the Internet search engine of fraud, saying its ads have been appearing in spyware and “typosquatter” Web sites that take advantage of misspelled trademarks.
Crafts By Veronica, which makes fabric-covered photo albums, filed a lawsuit accusing Yahoo of breaching a contract by charging advertisers for pay-per-click ads shown improperly in “pernicious spyware programs” and on low-quality Web sites.
It names Yahoo; Overture Services Inc
The chairman of Hyundai Motor Group, Chung Mong-Koo, has been arrested in South Korea on embezzlement charges.
Mr Chung and Hyundai are accused of creating slush funds to pay politicians and officials for business favours.
A Seoul judge said earlier that he had issued the arrest warrant because he feared Mr Chung may go into hiding or tamper with evidence