US Pharmaceutical company Dey Incorporated will pay nearly three (m) million dollars to settle a lawsuit alleging the firm defrauded Missouri’s Medicaid program.
The settlement was filed today in St. Louis Circuit Court by Missouri Attorney General Jay Nixon
Enron’s collapse caused more “enduring pain” than the death of a loved one, the energy giant’s founder Kenneth Lay has told a US court.
Mr Lay made the claims as he began his defence against charges of fraud and conspiracy over Enron’s collapse.
He also laid the blame for the energy firm’s failure firmly at the feet of former finance chief Andrew Fastow
Former Enron boss Jeffrey Skilling has defended his sale of $63m in Enron stock before the company collapsed, saying he has “nothing to hide.”
He insisted the sales, which raised $63m (£35.6m) in 2000 and 2001, were proper and he had no idea an internal probe into Enron’s accounts had begun
Tyco International Ltd. will pay the Securities and Exchange Commission a $50 million civil penalty to settle allegations the high-tech conglomerates prior management violated securities laws, cooked the books and overstated financial results by at least $1 billion.
Under the proposed settlement, filed Monday in U
Former Enron chief executive Jeffrey Skilling accused government prosecutors of trying to “rewrite history” during his fourth day on the witness stand.
He said they were misrepresenting Enron’s business and making “absurd” allegations against him.
“I think they have purposely not looked at facts they should have looked at if they wanted to come to a more balanced and accurate conclusion,” Mr Skilling said to questions from his defence lawyer, Daniel Petrocelli
Enron never used illegal cash reserves to disguise massive trading profits or cover earnings shortfalls, former chief Jeffrey Skilling said on Wednesday.
In his third day on the witness stand at a trial in Houston he testified that there was no “cookie jar” account.
Mr Skilling was denying claims by a former Enron executive that the company earned massive profits from trading power during the California power crisis in 2000 and illegally dumped the money in a “cookie jar” account to cover possible earnings shortfalls in the future
Former Enron chief Jeffrey Skilling has said he is “absolutely innocent” of any charges linked to the firm’s collapse.
He made the comments as he began what is viewed by experts as his “make or break” testimony against charges of fraud and conspiracy.
“I’m absolutely innocent,” Mr Skilling said as he began his testimony at the federal court in Houston
A second currency trader has been jailed for his role in a multi-million dollar foreign exchange scandal at National Australia Bank.
Gianni Gray was given a 16-month sentence by the Victorian County Court for what was described as a “calculated and sophisticated fraud”.
The bank lost 252m Australian dollars (£105m; $181m) three years ago after rogue trades by four members of staff
A court postponed the trial of executives accused of collapsing the Dominican Republic’s second-largest bank Monday after prosecutors had begun opening statements.
The remainder of the trial is delayed until May 19, said Fidel Pichardo Baba, legal adviser to the Dominican Central Bank. The case is expected to feature hundreds of witnesses, including former President Hipolito Mejia
A federal judge on Monday sentenced former Westar Energy Inc. CEO David Wittig to 18 years in prison for looting millions from the Kansas utility.
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