Lay and Skilling guilty

Former Enron bosses Ken Lay and Jeffrey Skilling have both been found guilty on fraud, conspiracy and other charges.

A spokesman for President George W Bush said the verdict should be seen as a warning to other corporate criminals and applauded the decision.

As the verdict was read Skilling looked down, while Lay sighed heavily and shook his head as his sobbing wife Linda clutched his arm tightly

Jail for scandal-hit Skandia boss

A former chief executive at the heart of Sweden’s biggest ever corporate scandal has been jailed for two years.

Lars-Eric Petersson was convicted of handing out 156m Swedish kronor ($21.5m; £11

Ex-Ahold bosses guilty of fraud

The former chief executive and chief financial officer of Dutch retail giant Ahold have been found guilty of fraud.

A court in Amsterdam handed down the verdicts to Cees van der Hoeven and Michiel Meurs for their roles in one of Europe’s largest accounting scandals.

Each has been fined 225,000 euros ($286,800; £153,000) and given nine-month suspended sentences

HealthSouth Settles Fraud Case

HealthSouth Corp. agreed to pay $3 million and serve three years on probation in a deal with the government that spares the company an indictment over the $2.7-billion accounting fraud that almost triggered its collapse

Enron bosses ‘stole to pump egos’

Former Enron bosses Kenneth Lay and Jeffrey Skilling stole from investors both to line their pockets and stroke their egos, their trial has heard.

The comments came from prosecutors presenting their closing arguments at the court in Houston, Texas.

Prosecuting lawyer Kathy Ruemmler said the case centred around “the lies these men told and the choices they made”

Judge deals blow to Enron accused

The judge in the Enron trial has ruled that jurors can find the energy firm’s former bosses guilty of deliberately avoiding knowledge of massive fraud.

The ruling has raised concerns among the defence team and legal experts.

Known as the “ostrich instruction”, because it refers to a person sticking their head in the sand, the ruling means that prosecutors will need a lower burden of proof to be successful

Group settles fraud probe for $20m

he Hartford Financial Services Group has agreed to pay $20 million to settle an investigation into claims of fraudulent sales practices in retirement products, the attorneys general of Connecticut and New York said Wednesday.

The Hartford agreed to return $16.1 million in profit from the sales that Connecticut Attorney General Richard Blumenthal and New York Attorney General Eliot Spitzer say were arranged in concealed financial agreements with brokers

Company Files Fraud Lawsuit Against Yahoo

A Yahoo advertiser has accused the Internet search engine of fraud, saying its ads have been appearing in spyware and “typosquatter” Web sites that take advantage of misspelled trademarks.

Crafts By Veronica, which makes fabric-covered photo albums, filed a lawsuit accusing Yahoo of breaching a contract by charging advertisers for pay-per-click ads shown improperly in “pernicious spyware programs” and on low-quality Web sites.

It names Yahoo; Overture Services Inc

Enron feared witch hunt, Lay says

Enron executives thought the firm was the victim of a witch hunt when stories broke about its financial problems, company founder Kenneth Lay has said.

Speaking during his second day in the witness box, Mr Lay reiterated that he thought Enron’s finances were healthy.

Mr Lay has been accused of hiding the losses and lying to boost the company’s share price

Computer Associates ex-CEO pleads guilty

Computer Associates (CA) former CEO and head of sales both added their guilty pleas to those of five other former company executives yesterday, admitting fraud, obstructing justice, and perjury.

Former CEO Sanjay Kumar and his head of worldwide sales Stephen Richards presided over a “systemic, company-wide practice of falsely and fraudulently recording and reporting.