Seven members of a Queens, NY church defrauded more than $12M from elderly parishioners. The SEC says that returns up to 75% were promised and the money was used to […]
UBS has agreed to pay $780M and turn over the names of Americans who used Swiss bank accounts to evade paying some US taxes. You can read more at yahoo.com.
B. Ramalinga Raju may have taken up to $1B from the company rather than the initial claim that the company had made up the money. "Mr. Raju, who was Satyam’s […]
As Indian company Satyam tries to recover from the $1B loss of liquidity overnight due to fraud, Investors have their eyes on PricewaterhouseCoopers the accounting firm for the company. “Pricewaterhouse […]
Mr. Piccoli and his company Gen-See Capital Corp. are being sued for operating a Ponzi scheme targeting Catholics. They placed advertisements in Catholic publications trying to lure investors. The SEC […]
Accounting scandal has hit the Indian company Satyam. It is believed that $1B of the companies cash (95%) has been falsified. It is already being called India's Enron. Trading has […]
Ford Errant Forecasting Hits Investors Missing Promised Profits. The article can be read here.
Marc Dreier (pictured left and below),founder of Dreier LLP, is accused of defrauding investors of around $100M by selling them phony financial instruments. In a fleece that ends up with […]
A New Jersey jury found that Parmalat, the Italian food and dairy company, had defrauded CitiGroup and awarded the bank $364.2 million in damages write Eric Dash of NYtimes.com. You […]
JP Morgan and Morgan Stanley have agreed to settle in the securities probe concerning auction-rate securities. The AP article by Stephen Bernard can be read here.