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
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”
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
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
A computer glitch at Citibank branches in Japan has caused 274,800 incorrect transactions over the past week, the latest Japanese problem at the firm.
As a result of the error, some account holders had transactions wrongly recorded twice, while others took place but then did not appear on statements.
Citibank said the computer problem had now been fixed
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 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 (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.
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