A federal jury has convicted founder and former chief executive of online real estate listings company Homestore Inc. of masterminding a $67 million accounting fraud, marking the latest in a string of former executives found guilty of similar charges in connection with the scheme.
A Delaware judge has thrown out a request by former American International Group Inc. chairman Maurice “Hank” Greenberg to stop a suit that alleged he reaped excessive payments from the company through a sham operation.
Scientific-Atlanta Inc. will cough up $20 million to resolve charges brought by the U.S. Securities and Exchange Commission that it assisted cable operator Adelphia Communications Corp. in overstating its earnings by about $43 million.
Short seller Anthony Elgindy was slapped with 11 years and three months in prison and a $1.6 million fine by a federal judge yesterday for his role in manipulating stock using confidential government information gained from an agent with the Federal Bureau of Investigation.
The former chief executive of Italian restaurant chain Buca Inc. has plead guilty to criminal fraud charges, agreeing to pay a $250,000 criminal fine and $65,000 plus interest back to the company he stands accused of looting.
A federal investigation into price manipulation in the natural gas markets continues to net guilty pleas, with three more traders admitting to organizing a conspiracy to skew the price of natural gas.
A federal judge has pushed off the sentencing for former Enron Corp. chief executives Kenneth Lay and Jeffrey Skilling, who were found guilty by a jury last month for the fraud and conspiracy that led to Enron’s nosedive into bankruptcy.
In what may add up to the most expensive defense in history, O’Melveny & Myers LLP, the Los Angeles-based law firm which has defended former Enron chief executive Jeffrey Skilling on civil and criminal charges since 2001, is reportedly waiting to collect tens of millions of dollars in legal fees.
A jury began deliberating Thursday afternoon over whether Richard M. Scrushy will serve jail time for charges stemming from a $500,000 payoff federal prosecutors argued secured him a seat on a state regulatory board. If convicted, Scrushy faces the possibility of decades in jail and hundreds of thousands of dollars in fines.
Following a two-year investigation by the Federal Bureau of Investigation and the Commodity Futures Trading Commission, a third Williams Energy employee has pled guilty to engaging in a scheme to manipulate natural gas prices.
Two former Merrill Lynch & Co. Inc. executives convicted for their roles in the Enron-related Nigerian Barge scheme have been released from prison by a judge in the U.S. Court of Appeals for the Fifth Circuit due to their pending appeals.
A court in Parma, Italy kicked off the main criminal proceedings Monday in Parmalat’s $18 billion collapse, with 64 former executives, financial advisers and bankers on the hook for fraud allegations that contributed to one of Europe’s largest corporate debacles.
In the latest development in the case against plaintiffs’ firm Milberg Weiss Bershad & Schulman, a Delaware court has asked the state's attorney disciplinary authorities to review the federal criminal indictment of former partner Steven Schulman.
The founder of now-bankrupt auto maker Daewoo Group will pay $22 billion and spend 10 years in jail in Seoul, as punishment for a slew of financial crimes including accounting fraud, embezzlement and breach of fiduciary duty.
Atlanta hedge fund manager Kirk Wright has been formally indicted on charges of mail fraud stemming from the loss of over $100 million in investments, the bulk of which has yet to be recovered.
The founder of now-insolvent hedge fund International Management Associates has been formally indicted on charges for mail fraud after over $100 million disappeared from the fund, prompting its Chapter 11 filing.
The guilty verdict in the trial of former Enron executives Ken Lay and Jeffery Skilling may be the final nail in the coffin of the “ostrich” defense, experts say.
Former Enron executives Ken Lay and Jeff Skilling have been found guilty of conspiracy for their roles in the accounting fraud at the now-defunct energy giant.
The conviction of former Enron executives Ken Lay and Jeff Skilling signals the end of an era, many legal experts believe. But some point to subtle signs that the government’s crackdown on corporate crime is only gathering steam.
Ken Lay's and Jeffery Skilling's legal odyssey is is far from over, as the former executives face sentencing and what is sure to be a lengthy appeals process.