by Justin Knapp | Feb 17, 2009 | International, People
Allen Stanford is being charged with a "massive ongoing fraud" in relation to $8B of CDs that were sold to investors with promised returns exceeding 8%. There were 30,000 CDs sold in 131 countries. The full Reuters article can be read here.
by Justin Knapp | Jan 17, 2009 | Companies, International, People
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 chairman, said in a letter to the company’s board on Jan. 7 that about $1 billion of the company’s cash...
by Justin Knapp | Jan 8, 2009 | Companies, International
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 has signed the balance sheets, and so they are responsible if...
by Justin Knapp | Dec 31, 2008 | International, People
Investigators of the Madoff Ponzi are looking at possible offshore accounts that may have been used as tax havens for wealthy investors. "While the inquiries into the role of offshore funds in the scheme are at an early stage, it is hardly surprising that such...
by Justin Knapp | Dec 31, 2008 | Government, International, Web/Tech
Chinese courts convicted 11 people of copyright infringement in what turns out to be an enormous fleece. Microsoft and the FBI had been tracking the ring since 2001 and has found illegal material in 36 different countries. The ring was exporting most of the products...
by Justin Knapp | Nov 24, 2008 | International, People
The New York Times reports that Huang Guangyu, one of China's wealthiest entrepreneurs has been detained by police in a stock price manipulation investigation. Forbes estimated that Huang Guangyu was had wealth around $2.7B. Shares of Gome Electrical Appliances...
