A former supervisor for Colonial Bancorp Inc.'s lending division who helped Taylor Bean & Whitaker Mortgage Corp. sell $1.5 billion in impaired mortgages admitted Wednesday to securities regulators' fraud claims in Virginia federal court.
A California federal judge on Thursday refused to throw out class action claims alleging Silicon Valley Law Group aided and abetted convicted Ponzi schemer Edward H. Okun as he ran exchange fund The 1031 Tax Group LLC into the ground.
Jurors in the insider trading trial of Raj Rajaratnam had a New York court replay wiretap recordings on Thursday dealing with the Galleon Group LLC founder's alleged conspiracy with New Castle Partners LLC trader Danielle Chiesi.
BDO USA LLP on Thursday said it had settled a Florida suit brought by Portugal-based Banco Espirito Santo International Ltd. accusing the accounting firm of failing to unearth a criminal fraud that led to financial services company E.S. Bankest LC's collapse.
GlaxoSmithKline PLC worked with physicians to stop promotion of antidepressant Wellbutrin for off-label uses, a company executive testified Thursday in the Maryland trial of a former GSK attorney who allegedly obstructed a probe into the drug's marketing.
A Costa Rican state-owned utility whose employees accepted $18 million in bribes for contracts from Alcatel-Lucent SA objected to the company's $137 million settlement with the government in Florida federal court, saying it fails to sufficiently punish Alcatel-Lucent and doesn't include restitution for victims.
A federal judge in California sentenced Western Titanium Inc. on Tuesday to five years of probation and ordered the defense contractor to pay more than $140,000 in penalties in a case alleging it manufactured fighter jet parts with substandard metals.
A federal judge denied former Virginia legislator Phillip A. Hamilton's motion for acquittal Thursday after the government rested its case accusing him of trading state money for a university job.
Prosecutors filed a 14-count superseding indictment against accused Ponzi schemer Robert Allen Stanford on Wednesday that trims back the number of counts of wire fraud and mail fraud and removes an allegation of conspiracy to commit securities fraud.
K&L Gates LLP has boosted its presence in Tokyo and beyond with the addition of 10 attorneys from Clifford Chance LLP, including three transactional, white collar and regulatory luminaries.
Avon Products Inc. may discipline additional employees over an alleged foreign bribery scandal, the beauty products giant said Tuesday, disclosing that it had terminated four executives previously suspended in connection with a widening internal probe.
The U.S. Securities and Exchange Commission decided Wednesday not to seek civil penalties against Louis W. Zehil, a former McGuireWoods LLP attorney sentenced in New York to three years in prison for operating a $17 million securities fraud scheme involving public equity transactions.
A real estate tycoon accused of siphoning $21 million from the tax deferral accounts of unwitting clients did not defraud anyone, a defense attorney told a Calif. jury in federal court Wednesday.
An accused middleman who allegedly helped Lindsey Manufacturing Co. executives pass off bribes in exchange for Mexican utility contracts told a California federal judge Wednesday there was insufficient evidence she knew of the scheme when she signed checks for lavish gifts.
The Fourth Circuit ruled Wednesday that the U.S. Department of Labor can subpoena privileged documents for an Employee Retirement Income Security Act probe into the management of health and pension funds that lost $10 million in Bernard L. Madoff-related investments.
A Texas federal jury on Wednesday convicted four defendants of participating in a $5.2 million Medicare fraud scheme that involved filing claims for medically unnecessary skilled nursing.
Prescribing Wellbutrin for off-label uses is fine, GlaxoSmithKline PLC just can't promote the antidepressant for such uses, a company executive testified Wednesday in the Maryland trial of a former GSK attorney who allegedly obstructed a probe into the drug's marketing.
A New York federal judge on Wednesday agreed to take up a fraud suit filed against JPMorgan Chase & Co. by the recovery trustee for Bernard Madoff victims in bankruptcy court, expressing skepticism about whether that court was the appropriate venue for some claims.
An Alabama federal judge shot down attempts Tuesday by two state lawmakers to dodge criminal charges regarding their alleged roles in a purported scheme to buy and sell favorable votes on pro-gambling legislation in the state.
A New York federal judge on Monday rejected the New York Post’s bid to find out how much money actress Uma Thurman and another victim lost to jailed money manager Kenneth Starr’s fraud scheme.