Fraud boss gets jail term reduced

A company chief who took £2.5m from investors to support his own business has had his sentence cut.

Steven Higham, 54, of Hillmorton Road, Rugby, Warks, was managing director of Nottingham-based Oaktree Financial Services, when he stole from clients

Jail for eBay phishing fraudster

The leader of an identity fraud gang which stole almost £200,000 has been jailed for four years.

David Levi, 29, of Clifton Drive North in Lytham, Lancashire, tricked people using the internet auction site eBay into giving away their account details.

He admitted three counts of fraud and perverting the course of justice at Preston Crown Court on Tuesday

Isley star convicted of tax fraud

Ronald Isley, lead singer of the Isley Brothers, is facing a maximum 26-year jail sentence after being convicted in the US of multiple tax evasion charges.

Isley, whose band’s hits included This Old Heart of Mine and Summer Breeze, denied five counts of tax evasion and one of failing to file a tax return.

Prosecutors said he had demanded cash for live shows and used other members’ royalty cheques for himself

Fraud claim hits Renaissance boss

Millionaire businessman Oleg Kiselev has resigned as chairman of investment bank and brokerage Renaissance Capital to fight allegations of fraud.

Mr Kiselev has denied the charges, which were brought last week and relate to transactions in shares of a metal ore extraction and processing plant.

Calling the charges completely false, Mr Kiselev said he was stepping down to clear his “good name”

eBay fraudsters sentenced to jail

Three Romanians who conned eBay customers out of thousands of pounds have been sentenced to a total of eight years’ imprisonment.

The “cell” tricked customers into paying for £300,000 worth of fictitious goods which never arrived.

The man said to be the gang’s ringleader, Nicolae Cretanu, 30, of Forest Gate, London, was given a three and a half year term for the fraud

Charged aide quits Cheney office

A top aide to the US vice-president has resigned after being charged with perjury over an investigation into the unmasking of a covert CIA agent.

Lewis Libby, chief-of-staff to Dick Cheney, was also charged with obstruction of justice and making false statements to a federal grand jury.

Bush aide Karl Rove was not charged but the investigation remains open

Iranian President’s controversial remark

Mr Ahmadinejad told some 3,000 students in Tehran that Israel’s establishment had been a move by the West against the Islamic world.

He was addressing a conference entitled The World without Zionism and his comments were reported by the Iranian state news agency Irna.

“As the Imam said, Israel must be wiped off the map,” he said, referring to Iran’s late revolutionary leader, Ayatollah Ruhollah Khomeini

Malawi’s ex-leader in fraud probe

Malawi’s Anti-Corruption Bureau has summoned ex-president Bakili Muluzi to a hearing about his financial dealings with foreign donors next week.

It intends to ask him what happened to millions of dollars of aid during his rule, which ended last year.

The announcement came as parliament renewed its drive to impeach current President Bingu wa Mutharika

Former Refco boss on fraud charge

The former chief executive of US brokerage Refco has been charged with securities fraud, sending the company’s shares down 22% in New York.

Phillip Bennett is accused of hiding millions of dollars of debt owed to Refco by another firm he controlled.

The purpose of such a move was to make Refco look stronger than it was ahead of its $583m (£333m) float in August, US Attorney Michael Garcia alleges

Tax charges for Adelphia founder

US cable TV group founder John Rigas – convicted of fraud and conspiracy last year – has been indicted with new charges of tax avoidance.

Mr Rigas and his son are facing charges of taking part in a $300m (£170m) tax evasion scheme, prosecutors said.

The Adelphia Communications founder is currently appealing against his conviction for the firm’s collapse