Fraud Investigation Archives - Page 21 of 22

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

Bayer: $11.1 Million settlement

January 22, 2004/0 Comments/in Bayer /by ceadmin

Pennsylvania Attorney General Pappert Recovers $11.1 Million for PA Medicaid Program in Settlements With Bayer and GlaxoSmithKline Over Allegations of Prescription Drug Pricing Fraud

HARRISBURG, Pa., Jan

GlaxoSmithKline: $11.1 Million settlement

January 22, 2004/0 Comments/in GlaxoSmithKline /by ceadmin

Pennsylvania Attorney General Pappert Recovers $11.1 Million for PA Medicaid Program in Settlements With Bayer and GlaxoSmithKline Over Allegations of Prescription Drug Pricing Fraud

HARRISBURG, Pa., Jan

JP Morgan Insider Trading

January 20, 2004/0 Comments/in JP Morgan Chase /by ceadmin

WASHINGTON Securities regulators are examining a surge in options trading just before Wednesday’s announcement that J.P. Morgan Chase agreed to buy Bank One for $58 billion, according to people familiar with the situation

LG Cable Insider Trading

January 20, 2004/0 Comments/in LG Cable /by ceadmin

The nation’s leading civic group on Tuesday filed a complaint with the prosecution against 25 executives of LG Cable on suspicion of illegal insider trading.

The 25 individuals of the LG family, including Koo Cha-yol, vice chairman of LG Cable, sold more than three million shares of LG Card before the credit card affiliate fell into severe financial trouble in November.

The People’s Solidarity for Participatory Democracy (PSPD) insisted that the LG Group families could have avoided great losses as they sold off LG Card stocks after accessing insider information on the card unit’s financial health

Adecco Investigation Continues

January 18, 2004/0 Comments/in Adecco /by ceadmin

Swiss market authorities have launched an investigation into insider dealing at Adecco, the world’s largest employment firm, which saw its stock plunge by a third last week.

The Federal Banking Commission said it had launched a “preliminary investigation”, working alongside the US Securities and Exchange Commission, which is conducting its own inquiries. Felix Weber, who resigned as chief financial officer last week, took full responsibility for the accounting problems

Parmalat admits $4.9bn black hole

December 29, 2003/0 Comments/in Parmalat /by ceadmin

The size of the black hole at Parmalat has spooked financial markets and the size of the black hole has led to comparisons with previous scandals at Enron and WorldCom.

Italian police have arrested five top Parmalat officials, as they widen their inquiries into the multi-billion euro fraud at the dairy giant. Former Parmalat chief financial officers Fausto Tonna and Luciano Del Soldato are among those detained

US exchange sued by pension fund

December 15, 2003/0 Comments/in NYSE /by ceadmin

The US’s largest pension fund, Calpers, has sued the New York Stock Exchange and seven specialist trading firms alleging trading abuses.

The lawsuit said improper trading by the specialist firms went unchecked by the NYSE.

“We are filing today a landmark lawsuit to recover losses and to right a serious wrong that exists at the New York Stock Exchange,” Calpers said

Halliburton in Iraq fuel costs row

November 22, 2003/0 Comments/in Halliburton /by ceadmin

Washington (BBC)- Halliburton, the oil services and construction group, has been accused by US lawmakers of charging “inflated prices” when they sell petrol to US troops in Iraq.

Halliburton charges the US government more than $1.59 (£0

Qwest settles fraud investigation

July 8, 2003/0 Comments/in Qwest Communications /by ceadmin

Qwest Communications settled a long-standing consumer fraud lawsuit with the Arizona Attorney General’s Office Monday by agreeing to pay a $3.75 million fine and to better inform customers about their options.

The suit, filed in 2001 by then-Attorney General Janet Napolitano, accused Qwest of numerous violations of Arizona’s Consumer Fraud Act, including placing unauthorized charges on consumers’ bills; failing to disclose charges associated with repairs and installation; engaging in false and misleading advertising; and setting up customer service departments that frustrate consumers’ attempts to resolve problems

Posts