Fastow gets six-year term

Andrew Fastow, the former Enron finance executive, has been sentenced to six years in prison.

The US energy giant went bankrupt in 2001 with debts of $31.8bn (£18bn)

Austrian banker in French arrest

The former head of one of Austria’s biggest banks, Bank Fuer Arbeit und Wirtschaft (Bawag), has been arrested in France on fraud charges.

The Austrian Justice Ministry said French authorities had seized Helmut Elsner, Bawag’s ex-general director.

Bawag has been under investigation for lending ex-Refco CEO Phillip Bennett several hundred million dollars before US brokerage filed for bankruptcy

Livedoor’s Horie pleads innocence

Takafumi Horie, former boss of Japanese internet firm Livedoor who quit amid a corporate scandal, has pleaded not guilty to fraud charges in court.

Mr Horie denied violating securities laws by falsifying profit figures to boost Livedoor’s share price.

The 33-year old faces a maximum of five years in jail if found guilty

Peregrine boss to be extradited to the US

A former executive at US technology firm Peregrine Systems is facing extradition to the US on fraud charges.

Jeremy Crook, 53, is facing charges in the US accused of defrauding Peregrine shareholders for several years.

Mr Crook had hoped to travel to the US so as to hand himself over to American authorities

Prosecutors raise Enron boss fine

US Federal prosecutors have raised the amount that former Enron boss Jeffrey Skilling should pay for his part in one of the largest fraud scandals ever.

Prosecutors want Skilling to pay the sum demanded by the court both from him, and from his now-deceased former co-defendant, Ken Lay, Enron’s founder.

They want Skilling to hand over $183m (£96m), the combined sum the two were set to pay, not just his $139m sum

Scandal-hit Faurecia boss quits

The boss of French car parts firm Faurecia, Pierre Levi, has resigned following the start of a criminal investigation into alleged bribery.

Mr Levi’s departure comes as German prosecutors claim Faurecia paid bribes to carmakers such as VW and BMW in order to win their business.

Frankfurt-based prosecutor Sibylle Gottwald said Mr Levi was aware of the bribes but denied direct involvement

Serious Fraud Office to probe Southern Water

LONDON (Reuters) – The Serious Fraud Office is to investigate Southern Water for misleading regulators over its customer service standards, the company said on Wednesday.

Privately held Southern Water, whose biggest shareholders include Royal Bank of Scotland, already faces a fine from water regulator Ofwat for supplying incorrect figures.

Southern Water told Ofwat and the SFO last year that it had uncovered discrepancies during the installation of a new customer billing system

Bribes used to hide $A200m bank fraud

The list is itemised – cash, mobile phones, cars, holidays, golf club memberships – breaking down the millions spent by corrupt businessmen and officials from Indonesia’s state bank on police, judges and officials.

For nearly two years, a scandal surrounding inquiries into a $A200 million fraud within Bank Negara Indonesia has threatened to spread to the top of the nation’s police and judiciary.

Although several senior police are facing charges over the affair, the discovery of a detailed list of nearly $4 million worth of bribes will put pressure for tough action on President Susilo Bambang Yudhoyono, who has initiated an anti-corruption campaign

Yahoo settles click fraud lawsuit

Yahoo has settled a lawsuit filed by Checkmate Strategic Group which alleged that the search firm provided insufficient protection against click fraud.

Under the terms of the settlement Yahoo will pay roughly $5m to offset Checkmate’s legal fees, and has promised to look at its advertising terms and conditions.

Click fraud involves individuals using scripts or manually clicking on pay-per-click advertisements for financial gain

Bankrupt Adelphia sues Motorola

Bankrupt cable TV operator Adelphia Communications Corp. sued Motorola Inc. this week for more than $1 billion, alleging that the Schaumburg-based company assisted in the fraud that led to Adelphia’s collapse in 2002