Fraud Investigation Archives - Page 20 of 22

Police raid Capitalia offices in Parmalat probes

May 6, 2004/0 Comments/in Parmalat /by ceadmin

ROME : Italian finance police searched Rome offices of the bank Capitalia in connection with the collapse of the food groups Cirio and Parmalat, judicial sources said.

The search was ordered by Parma’s public prosecutor and concerns the sale of the dairy group Eurolat by Cirio to Parmalat in 1999, the source added.

Parmalat founder Calisto Tanzi and his financial director Fauso Tonna have alleged to magistrates that they were forced by Capitalia chairman Cesare Geronzi to buy Eurolat at an inflated price so that the bank, formerly Banca di Roma, could recover money owed it by Cirio

Shell under investigation by FSA

April 23, 2004/0 Comments/in Shell /by ceadmin

Investigations are being carried out by the Financial Services Authority into oil giant Shell after recent events.

A storm of bad publicity surrounds the company following three separate occasions when the company admitted it had overstated its oil reserves.

The Shell scandal first broke back in January when the firm made its initial announcement on a reserves downgrade

Tax police raid oil giant Yukos

April 22, 2004/0 Comments/in Yukos /by ceadmin

Russian tax inspectors have raided the headquarters of oil giant Yukos, whose assets were frozen earlier this month as part of a tax fraud inquiry.

Officials entered the central Moscow building and seized papers which they said related to tax evasion cases.

Yukos has been charged with shirking payment of $3

Moscow court freezes Yukos assets

April 16, 2004/0 Comments/in Yukos /by ceadmin

A Moscow court has frozen the assets of Russian oil giant Yukos as part of an ongoing prosecution of the firm on charges of evading $3bn in taxes.

Under the ruling the troubled firm is barred from “selling or mortgaging its assets, including shares”.

However, the group’s oil sales will remain unaffected

Computer Associates guilty plea

April 10, 2004/0 Comments/in Computer Associates /by ceadmin

The former vice president of finance of Computer Associates, the US software giant, has pleaded guilty in an audit probe case.

David Rivard pleaded guilty to conspiracy to commit securities fraud and obstruct justice.

US prosecutors and the Securities and Exchange Commission have spent two years investigating allegations that the firm inflated its accounts

Probe into Vivendi share buyback

March 31, 2004/0 Comments/in Vivendi /by ceadmin

French police have searched the offices of the country’s stock market regulator as part of a probe into an allegedly illegal shares buyback by Vivendi.

The French conglomerate is under investigation for illegally buying back its own stock in the aftermath of the September 11 attacks in America.

It is claimed the company, which has previously faced fraud charges in the US, wanted to maintain its share price

Bank of America agrees to pay fines

March 16, 2004/0 Comments/in Bank of America /by ceadmin

It is the biggest pay-out yet won by regulators tracking down wrongdoing by US mutual funds, in which at least half of US households have savings.

Bank of America and FleetBoston agreed to pay fines and cut their fees, but admitted no wrongdoing.

The US market regulator and New York’s attorney general unveiled the deal

Fleet Boston agrees to pay fines

March 16, 2004/0 Comments/in FleetBoston /by ceadmin

It is the biggest pay-out yet won by regulators tracking down wrongdoing by US mutual funds, in which at least half of US households have savings.

Bank of America and FleetBoston agreed to pay fines and cut their fees, but admitted no wrongdoing.

The US market regulator and New York’s attorney general unveiled the deal

EDS financial probe deepens

March 3, 2004/0 Comments/in Electronic Data Systems /by ceadmin

The U.S. Securities and Exchange Commission has widened its probe of Electronic Data Systems to include a massive charge the company took related to its $6 billion Navy contract

Fined for Medicaid Fraud

January 27, 2004/0 Comments/in AstraZeneca /by ceadmin

Florida’s Medicaid program will receive $807,826 from pharmaceutical company AstraZeneca as a result of a settlement with the attorney general.

Attorney General Charlie Crist says the company committed Medicaid fraud through the marketing and sale of the drug Zoladex for use in the treatment of prostate cancer.

Crist says AstraZeneca overcharged Medicaid for Zoladex by not including promotions, free goods, discounts, rebates and other reductions in the price paid by Medicaid

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