Now-defunct IndyMac Bancorp Inc. is under investigation by the FBI for possible fraud in connection with home loans made to risky borrowers
Broadcom co-founder and billionaire Henry T. Nicholas III pleaded not guilty Monday to federal drug and securities fraud charges.
The FBI on Tuesday said it is investigating 14 companies for possible accounting fraud, insider trading or other violations in connection with risky home loans
The Supreme Court dealt a blow Tuesday to Enron investors who sued major investment banks to recover money lost when the Texas energy giant collapsed
The Supreme Court dealt a blow Tuesday to investors seeking to recover damages from alleged corporate fraud, a potentially huge liability case being closely watched by owners of stock, the business community and government regulators.
Sam E. Antar is a convicted felon, and he will not let anyone forget it for a minute. Whenever you find yourself starting to think of him as merely a fast-talking yet charming New York character, he'll come out with something like: "I had no remorse whatsoever as a criminal. I had no concern about any other human being. I enjoyed being a criminal."
Mortgage finance company Freddie Mac will pay $50 million to settle federal charges that it fraudulently misstated earnings over a four-year period.
The former CEO of Enron Corp.'s broadband division reported to a Louisiana prison on Tuesday to serve 27 months for securities fraud related to his role in the company's 2001 collapse, his lawyer said.
A U.S. federal judge Monday sentenced a former Enron Corp. executive to 27 months for securities fraud in the energy trader's 2001 collapse.
Founder and former CA Chief Executive Charles Wang has been accused of leading and participating in accounting fraud at the computer software company, a board committee's report showed Friday, according to a report published online.
Now-defunct IndyMac Bancorp Inc. is under investigation by the FBI for possible fraud in connection with home loans made to risky borrowers
Broadcom co-founder and billionaire Henry T. Nicholas III pleaded not guilty Monday to federal drug and securities fraud charges.
The FBI on Tuesday said it is investigating 14 companies for possible accounting fraud, insider trading or other violations in connection with risky home loans
The Supreme Court dealt a blow Tuesday to Enron investors who sued major investment banks to recover money lost when the Texas energy giant collapsed
The Supreme Court dealt a blow Tuesday to investors seeking to recover damages from alleged corporate fraud, a potentially huge liability case being closely watched by owners of stock, the business community and government regulators.
Sam E. Antar is a convicted felon, and he will not let anyone forget it for a minute. Whenever you find yourself starting to think of him as merely a fast-talking yet charming New York character, he'll come out with something like: "I had no remorse whatsoever as a criminal. I had no concern about any other human being. I enjoyed being a criminal."
Mortgage finance company Freddie Mac will pay $50 million to settle federal charges that it fraudulently misstated earnings over a four-year period.
The former CEO of Enron Corp.'s broadband division reported to a Louisiana prison on Tuesday to serve 27 months for securities fraud related to his role in the company's 2001 collapse, his lawyer said.
A U.S. federal judge Monday sentenced a former Enron Corp. executive to 27 months for securities fraud in the energy trader's 2001 collapse.
Founder and former CA Chief Executive Charles Wang has been accused of leading and participating in accounting fraud at the computer software company, a board committee's report showed Friday, according to a report published online.
Federal prosecutors looking at allegations of stock-option manipulation at Monster Worldwide are focusing on emails written by the company's former general counsel that suggest he knew the accounting implications of backdated options, according to a published report.
It's tempting to roll your eyes at the latest options backdating news - more evidence that in certain ways American executives are still the world's most creative.
Class-action lawsuits filed over securities fraud reached an all-time low in 2006, according to a Stanford Law School report.
Apple Computer disclosed in a regulatory filing Friday that Chief Executive Officer Steve Jobs was aware that some stock options granted to him and other executives at Apple between 1997 and 2002 were backdated and that the company was restating financial results for the past few years as a result of the backdating.
The news this morning that CA, the $4 billion a year (revenues) software company formerly known as Computer Associates, has filed suit against its former CEO, Sanjay Kumar, to recoup the legal fees it paid to defend him, is the beginning of an attempt to remove one of many sore points between the company and its shareholders.
The city of San Diego has settled a dispute over securities fraud with the Securities and Exchange Commission, the regulatory agency said Thursday.
More criminal indictments will come down the pike as corporate America struggles with the ever-growing stock options backdating scandal, according to an assistant director at the FBI.
Two more CEOs hit by the scandal over stock options stepped down Wednesday, highlighting the risk to companies - and investors - stung by the backdating bullet.
As corporate scandals continue to mount on Wall Street, Berkshire Hathaway Chairman Warren Buffett has a message for the company's top managers: Don't give in to peer pressure.
Forget the SEC and Department of Justice. For companies ensnared in the widening options-backdating scandal, mounting civil lawsuits may turn out to be the real headache, costing companies millions of dollars and countless hours to defend and settle.
Ex-WorldCom CEO Bernard Ebbers will report to a federal prison Tuesday to begin his 25-year sentence for his role in an $11 billion accounting fraud.
Almost five years since Enron's infamous implosion, the company's former financial chief Andrew Fastow likely will soon trade his business suit for prison garb.
The widespread options backdating scandal is gaining new momentum after the Department of Justice charged executives from Comverse Technology with securities fraud for profiting from manipulated stock options.
The Internal Revenue Service is the latest agency to look at stock option practices at a growing number of companies, according to a published report.
The list of companies being investigated in the stock-options saga grows longer by the day and could easily climb much higher, according to the professor whose research brought the issue to light.
A federal jury in Montgomery convicted ex-HealthSouth CEO Richard Scrushy and former Alabama Gov. Don Siegelman of bribery charges Thursday in a corruption case stemming from Siegelman's term in office.
The light at the end of the tunnel continues to be elusive for Enron founder Kenneth Lay who could find himself spending life in prison even if he is acquitted by a jury for allegations that he helped bring about Enron's collapse.
The judge in the Enron case dismissed three counts against former Enron CEO Jeffrey Skilling and one count against founder Kenneth Lay as the government rested its case against the two former executives Tuesday morning.
A federal appeals court's decision to overturn former star investment banker Frank Quattrone's conviction is a reminder to judges and prosecutors alike: get it right the first time or watch your case go up in smoke.
In a third day of cross-examination, Daniel Petrocelli, attorney for former Enron CEO Jeff Skilling, continued grilling Enron's ex-chief of investor relations-turned-government witness Mark Koenig in an attempt to discredit him.
A judge rejected former Enron Corp. CEO Jeffrey Skilling's request to dismiss insider trading charges pending against him in a court opinion made public Thursday.
Former Enron accounting chief Richard Causey's guilty plea to securities fraud Wednesday for his role in the financial scandal that drove the energy company into bankruptcy in 2001 is being hailed as a big win for the government in their case against former top executives at Enron.
Wall Street legend Israel Englander is in settlement talks with the SEC and New York Attorney General Eliot Spitzer that could cost his firm upwards of $100 million, people close to the case say.
Former Alabama Gov. Don Siegelman and former HealthSouth CEO Richard Scrushy, who was acquitted in June in a massive corporate fraud case, were indicted Wednesday on federal charges stemming from an investigation into allegations of public corruption during Siegelman's administration.
The rise and fall of Richard Scrushy, the founder and former CEO of HealthSouth Corp., may be coming to the big screen, according to the New York Times Monday.
Lawyers for convicted former WorldCom CEO Bernard Ebbers are basing their appeal on claims that they were unfairly denied the opportunity to question the company's former No. 2 executive during his trial, according to a published report.
Ex-Tyco CEO Dennis Kozlowski received 8-1/3 to 25 years in prison Monday for his part in stealing hundreds of millions of dollars from the manufacturing conglomerate.
Former WorldCom accountant Betty Vinson was sentenced Friday morning to five months in prison and five months house arrest for her part in WorldCom's $11 billion accounting fraud.
Time Warner Inc. and its auditor have reached a $2.5 billion settlement to securities fraud litigation, according to statements Wednesday from the world's largest media company and the lead attorney for the plaintiff.
Ex-WorldCom chief executive Bernard Ebbers was sentenced Wednesday to 25 years in prison for his role in orchestrating the biggest corporate fraud in the nation's history.
Bernard Ebbers, the once-celebrated WorldCom chief who faces life behind bars, is baffled by his current predicament.
Bernard Ebbers picked the wrong time to commit a crime.
Richard Scrushy, the founder and former CEO of HealthSouth Corp., was found not guilty Tuesday on all charges in the $2.7 billion accounting fraud at the hospital chain.
In a major victory in the government crackdown on corporate corruption, former Tyco CEO Dennis Kozlowski and ex-CFO Mark Swartz were found guilty Friday of stealing hundreds of millions of dollars from the manufacturing conglomerate.
As much as Dennis Kozlowski and Richard Scrushy dream of the kind of day that Michael Jackson is now having, the not guilty verdict in the pop singer's child molestation trial can't offer them much solace.
The Supreme Court Tuesday unanimously threw out the conviction of accounting firm Arthur Andersen, a symbolic victory for a nearly defunct company torn apart in a document-shredding case involving the fallen energy giant Enron.
A federal judge dismissed two of the counts against former HealthSouth CEO Richard Scrushy in an Alabama courtroom Thursday, but the defendant still faces 36 more in the accounting fraud trial, The New York Times reported.
The Securities and Exchange Commission has notified a former executive of the General Re Corp. that it plans to file civil fraud charges against her as part of its probe of the insurance industry, according to published reports Tuesday.
The prosecution rested its case in the corporate fraud trial of former HealthSouth Corp. Chief Executive Richard Scrushy Tuesday after asking that two of the criminal charges against him be dropped, taking the total down to 52.
J.P. Morgan Chase & Co. said Wednesday it would pay $2 billion to settle an investor lawsuit brought after an $11 billion accounting scandal forced WorldCom Inc. to declare the largest bankruptcy in U.S. history.
It could be a restless night for Kenneth Lay, Richard Scrushy and Dennis Kozlowski.
Bernard Ebbers, the former CEO of WorldCom, was found guilty Tuesday for his role in the huge accounting scandal that led to the largest bankruptcy in U.S. history.
Over the past 25 years, technology was the industry of choice for many of the top business people, and no one more than Microsoft's Bill Gates exemplifies the explosion of that realm, according to a panel of experts CNN gathered to rank the top 25 business leaders of the past quarter-century.
A grand jury indicted former HealthSouth Corp. chief operating officer James Bennett for 39 criminal counts, mostly for insider trading, related to the $2.64 billion accounting scandal that wrecked the once-mighty chain of health-care clinics.
The last six months have been relatively quiet in the world of corporate scandals, with only Martha Stewart grabbing headlines. The lull came to an end this week in courthouses in Alabama and New York.
The better stocks perform, the fewer disgruntled investors there are suing companies over falling stock prices, right?
The last six months have been relatively quiet in the world of corporate scandals. Only Martha Stewart, who on Monday marked the third anniversary of the stock sale that landed her behind bars, has been dominating headlines.
Time Warner said Wednesday it reached a $210 million settlement of accounting fraud charges brought by the Justice Department and had proposed a related $300 million settlement with securities regulators.
SHOCK, OUTRAGE, CONDEMNATION. Those were the perfectly understandable reactions to the news that Fannie Mae, a company that owns or guarantees more than $2.3 trillion in U.S. residential mortgage d...
The former chief executive officer of Computer Associates was indicted by a federal grand jury in New York Wednesday for allegedly participating in a massive fraud conspiracy and an elaborate cover up of a scheme that cost investors hundreds of millions of dollars.
Adelphia founder John Rigas was found guilty of conspiracy, securities fraud and bank fraud Thursday -- the most serious charges he faced over concealing $2.3 billion in loans and stealing more than $100 million from the now-bankrupt cable company.
Scott Sullivan, the former chief financial officer of WorldCom, has pleaded guilty to one count of conspiracy to commit securities fraud, according to the office of Mississippi Attorney General Jim Hood.
In the summer of 2002, Brean Murray, a small, obscure brokerage house, threw a dinner party in the Hamptons. It was a dismal time for investors, two years into a brutal bear market. But the doom an...
Ex-WorldCom CEO Bernard Ebbers was charged with securities fraud Tuesday for his role in the nation's biggest accounting scandal, while his former chief financial officer pleaded guilty and agreed to cooperate with prosecutors.
The judge in the Martha Stewart trial dismissed the securities fraud charge against her Friday, saying prosecutors had failed to present enough evidence for jurors to consider the matter.
Martha Stewart will not testify at her obstruction of justice trial and the case may go to the jury late this week or early next week, lawyers involved in the case said Tuesday.
After former Enron CEO Jeffrey Skilling pleaded not guilty to charges of fraud and insider trading Thursday, his lawyers and government prosecutors started arguing their cases in front of the news media.
At the moment attorneys for former Enron executive Jeffrey Skilling in Houston were blasting federal prosecutors for indicting Skilling on conspiracy and fraud charges, top federal law enforcement officials in Washington issued a joint written statement lauding their actions.
Ex-Enron CEO Jeffrey Skilling was charged with fraud and insider trading Thursday, making him the highest ranking former executive charged in the collapse of the once-mighty energy company.
The Martha Stewart trial is set to resume Tuesday as an FBI agent returns to the witness stand. The government is expected to rest its case against the home decor expert and her former broker later in the week.
Whatever the nation's CEOs may think of Martha Stewart, currently on trial in Manhattan for federal securities fraud and obstructing a government investigation, they ought to be praying she beats t...
Former Enron Corp. accounting chief Richard Causey surrendered to authorities Thursday and pleaded not guilty to charges of securities fraud and conspiracy to commit securities fraud.
Ex-Enron chief financial officer Andrew Fastow pleaded guilty Wednesday to two counts of wire and securities fraud for his role in the accounting scandal that rocked the corporate world and brought down the energy company.
Over the past few years Wall Street has seen more beat-downs than pro wrestling--and these drubbings weren't just for show. Favorites like Freddie Mac have been body-slammed by scandal, while other...
Martha Stewart receives thousands of supportive e-mails these days. Convicted financier Michael Milken now has a high school named after him. And Oracle CEO Larry Ellison--whose company allegedly f...
Unless you are a voracious reader of the news, it was a story you may well have missed. On an otherwise quiet Friday the 13th in June, the Wall Street Journal reported in its B section that the Sec...
Still slightly obsessed with 2002's corporate scandals? Same here. So we asked Christopher Bebel, an ex-SEC prosecutor and a securities lawyer at Houston firm Shepherd Smith & Bebel, for his 2003 l...
In its eagerness to do something about corporate scandal, has Congress meddled in areas where its expertise is limited? Yes. Has it proposed measures that are redundant? Yes. Vague? Yes. And pointl...
As stocks skidded this summer amid continuing reports of corporate scandal, it seemed that everyone wanted to get on the reform bandwagon. Here are some proposed and actual reforms. --DAVID FUTRELL...
The sharp slide in U.S. stock prices over the past couple of months, we've been told over and over again, is due to a crisis of confidence in American corporate governance and accounting. By the ti...
To most investors, news of an SEC investigation is the ultimate sell signal. Not to Chuck Papageorgiou. The 39-year-old Atlanta consultant is one of an admittedly small number of investors who have...
In a huge office with a marble-topped bar and a perfect view of San Diego Harbor, paunchy, red-faced, Brillo-topped Bill Lerach--wearing a pitted-out green shirt, khaki slacks, white socks, and Top...
Federal prosecutors got closer to unraveling the landmark book-cooking scandal at Cendant recently, after three former top accounting executives pleaded guilty to federal fraud charges. Now they're...
Someplace right now, in the layers of a FORTUNE 500 company, An employee--probably high up and probably helped by people who work for him--is perpetrating an accounting fraud. Down the road that cr...
When Congress passed the Racketeer Influenced and Corrupt Organizations Act (RICO) in 1970, it wanted to encourage individuals and corporations to join the battle against organized crime. It did so...
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