Federal prosecutors asked a California judge on Tuesday to dole out prison terms between three and five years to four defendants who admitted they fraudulently obtained $8 million from the Overseas Private Investment Corp. for a bakery in Estonia.
U.S. Mortgage Corp.'s former service manager was sentenced Wednesday to two years' probation, beating jail time for his role in a scheme that fraudulently sold $136 million in credit union loans to Fannie Mae. (A previously published version of this article incorrectly identified Hayden's position at U.S. Mortgage.)
The U.S. risks funneling taxpayer money to terrorists, fraudsters and other criminals because it does not routinely vet Afghanistan contracts worth less than $100,000, which make up three-quarters of new contracts with non-U.S. vendors, the U.S. Government Accountability Office said Wednesday.
A man accused of helping online poker companies process billions of dollars in illegal customer funds will remain in custody after a New York federal judge denied him bail Wednesday over concerns about a lengthy criminal history and past efforts to flee from justice.
A Virginia federal court should deny former state lawmaker Phillip A. Hamilton's motion for a new corruption trial, the U.S. government argued Monday, saying his claims that the trial violated marital privilege and that the jury received deficient instructions are bogus.
The Second Circuit affirmed Wednesday the dismissal of a New York investment firm's suit seeking $1.2 million from Travelers Casualty and Surety Co. of America over alleged losses to an employee benefits plan stemming from Bernard Madoff's massive fraud.
A New York federal judge overseeing a class action over investments in Bernard Madoff's Ponzi scheme asked a British court Tuesday for help in obtaining documents from two Credit Suisse Group AG affiliates that could show what an Israeli insurer knew about a doomed feeder fund of the scheme.
A man who used a fake grocery wholesale distributing business to defraud investors of $930 million was sentenced Tuesday in New Jersey federal court to 20 years in prison and ordered to pay $82.6 million in restitution to his victims.
A former Primary Global Research LLC employee admitted Tuesday in New York federal court to helping connect hedge fund workers to technology company insiders in Taiwan for the purpose of obtaining illegal inside information.
A New York real estate attorney who pled guilty to his role in a $23 million mortgage fraud scheme was sentenced in federal court Tuesday to five years in prison and ordered to repay $4.7 million in restitution.
Attorneys for four military equipment company executives accused of trying to bribe Gabon government ministers to win contracts sought to undercut the government’s chief informant in the case in Washington federal court Tuesday, alluding to his past appetites for drugs and prostitutes.
A New York bankruptcy judge on Tuesday allowed the trustee overseeing the liquidation of Bernard L. Madoff's investment company to file a third amended complaint seeking $975 million from Kingate Global Fund Ltd., this time adding the fund's founders as named defendants.
A New York federal judge on Tuesday sentenced a former Credit Suisse Group AG broker who testified at trial against his ex-partner to four years in prison for his role in a $1.2 billion auction rate securities fraud.
An FBI agent pled not guilty Tuesday in New York to allegations he lied about the criminal past and aided the defense of a source in a mortgage fraud investigation with whom he had a sexual relationship.
Adams and Reese LLP on Monday filed a motion to dismiss a putative class action in Texas implicating the firm in Robert Allen Stanford’s alleged $7.2 billion Ponzi scheme.
HSBC Holdings PLC on Tuesday agreed to a $62.5 million settlement in a class action brought in New York federal court by investors in an Irish investment fund that pumped money into Bernard L. Madoff's Ponzi scheme.
An ex-hedge fund manager who pled guilty to defrauding investors of millions asked a New York federal judge Tuesday to vacate his 40-year prison sentence, saying he was the victim of an ineffective lawyer who advised him to accept an unjust deal.
Former Goldman Sachs Group Inc. director Rajat Gupta was sued by a shareholder in New York on Monday seeking to recover profits based on tips Gupta provided to convicted Galleon Group LLC co-founder Raj Rajaratnam.
A former SAC Capital Advisors LP employee admitted during an insider trading trial Monday in New York to using dozens of technology company inside sources and soliciting tips from expert networking firm consultants, including defendant Winifred Jiau.
A Washington federal judge on Monday trimmed the charges in a criminal case accusing four military equipment company executives of trying to bribe Gabon government ministers to win contracts, but left the vast majority of Foreign Corrupt Practices Act charges intact.