Four former Merrill Lynch employees and an ex-Enron executive have been found guilty of fraudulently inflating the energy firm’s profits.
A jury convicted ex-bankers Daniel Bayly, Robert Furst, William Fuhs and James Brown of fraud and conspiracy.
Ex-Enron finance director Dan Boyle was also found guilty
The controversial award of a key Iraqi oil contract to US giant Halliburton is now being investigated by the FBI, it has been claimed.
A lawyer for a US army official has said the FBI has asked to speak to his client about how the army gave the firm a key deal to restore Iraqi oil.
The FBI claims come as a US government inquiry continues to look at why the deal was not put open to competition
US telecoms giant Qwest Communications has agreed to pay $250m (£136.7m) to settle charges stemming from an inquiry into an alleged securities fraud.
The Denver-based firm did not admit any liability in the case brought by the US Securities and Exchange Commission
US insurers are in the spotlight after New York attorney general Elliot Spitzer sued Marsh & McLennan, the world’s largest insurance broker.
Mr Spitzer claims that since the late 1990s, Marsh got illegal payments for steering clients to firms such as Ace and American International Group (AIG).
On Wall Street on Friday, Marsh shares fell 14%, with AIG down 4%
A judge has ordered Spain’s top banker to stand trial on charges of tax fraud.
Emilio Botin, chairman of Santander Central Hispano, Spain’s largest bank, will be tried by the National Court, said Judge Teresa Palacios.
It is now up to a three-judge panel at the court to set a trial date for Mr Botin, who has been leading the Spanish bank’s recent bid for the UK’s Abbey
Two of Italian food giant Parmalat’s former auditors are to stand trial over their alleged role in the financial scandal that struck the firm last year.
Former Grant Thornton employees Maurizio Bianchi and Lorenzo Penca are to be prosecuted for market-rigging, a Milan court ruled on Tuesday. The pair are the first to be indicted over the Parmalat scandal
Two of Italian food giant Parmalat’s former auditors are to stand trial over their alleged role in the financial scandal that struck the firm last year.
Former Grant Thornton employees Maurizio Bianchi and Lorenzo Penca are to be prosecuted for market-rigging, a Milan court ruled on Tuesday. The pair are the first to be indicted over the Parmalat scandal
Two of Italian food giant Parmalat’s former auditors are to stand trial over their alleged role in the financial scandal that struck the firm last year.
Former Grant Thornton employees Maurizio Bianchi and Lorenzo Penca are to be prosecuted for market-rigging, a Milan court ruled on Tuesday. The pair are the first to be indicted over the Parmalat scandal
South Korea’s markets watchdog has said it is to inspect Citigroup’s local operations, days after regulators censured the bank’s Japanese business.
The Financial Supervisory Service (FSS) said the probe would focus mainly on Citigroup’s private banking division. Last week, Japan’s market regulators ordered Citigroup to close its private banking operations there
The world’s largest insurer by market value is the target of a criminal investigation by the US Justice Department.
American International (AIG) is accused of helping a banking client commit fraud and keep about $762m (£522m) of bad loans off its balance sheet.
AIG says it did nothing wrong while analysts say the firm’s actions fall into a legal grey area