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
Ailing Russian oil company Yukos and its former financial head will have to defend themselves in a fraud lawsuit, a US judge has ruled.
Yukos and its former chief financial officer Bruce Kisamore will be asked to respond to allegations of mis-stating the company’s tax risk to investors.
Yukos and Mr Kisamore have so far made no response to the decision by Judge William Pauley
Prosecutors have arrested the chief executive of carmaker Hyundai Motor’s logistics subsidiary, Glovis, on corruption charges.
Lee Ju-eun is suspected of embezzling 7bn won ($6.73m; £3
A high-ranking partner at accounting giant KPMG pleaded guilty to helping fabricate $11.2 billion in fake tax shelters so America’s wealthiest families could beat income taxes.
The guilty plea yesterday in Manhattan federal court of David Rivkin, 42, could mean a devastating blow to a gang of 16 accounting execs at KPMG charged in the massive tax shelter scam
Authorities in Austria have issued an arrest warrant for Phillip Bennett, former head of US brokerage Refco.
The move came a day after prosecutors began an inquiry into fraud and related charges surrounding Mr Bennett.
A warrant was also put out for the son of the former head of Bank Fuer Arbeit und Wirtschaft (Bawag), Wolfgang Floettl Jnr
A former employee of a Halliburton subsidiary has pleaded guilty to taking kickbacks from a Saudi subcontractor that was awarded a $14.4 million U.S
Former Enron executives lied to investors about its financial state because they knew the truth would destroy the company, a court has heard.
Testifying at the trial of Ken Lay and Jeffrey Skilling, former Treasurer Ben Glisan Jr said his bosses were full aware of the firm’s growing debt.
He said Mr Lay asked him about managing the firm’s accounts in 2001 to avoid a cut in Enron’s credit rating
The former head of China Aviation Oil (CAO) has been sentenced to four years and three months in jail for his role in the firm’s near-collapse in 2004.
Chen Jiulin, who had earlier pleaded guilty to six charges including insider trading, was also fined 350,000 Singapore dollars ($207,300; £124,000).
Four directors at the company had already been sentenced by a Singapore court for their part in the scandal
Following the interrogation of suspects involved in the Ramle Mercantile Discount Bank money-laundering scheme, in which 22 people where arrested some two weeks ago, police estimated on Monday that the affair would go down as perhaps the largest white-collar crime in Israel’s history.
Initial estimates put the amount of laundered money over the years somewhere in the ballpark of NIS 100 million, but those numbers have now ballooned to an estimated NIS 1 billion, according to police investigators.
Six more suspects, who allegedly operated fake accounts at the bank, were also arrested Sunday night
The U.S. Department of Justice appointed Joshua Hochberg, the former head of its fraud unit, to investigate claims of fraud and other misconduct that may have led to Refco’s bankruptcy filing