Japan fund manager found guilty
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Yoshiaki Murakami is jailed for two years for insider trading connected with scandal-hit Livedoor.
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Hyundai Motor Co. Chairman Chung Mong-koo was convicted Monday of embezzlement and other charges and sentenced to three years in prison over a slush fund scandal that has weighed on the world's sixth-largest automaker.
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FOUR Merrill Lynch bankers and a mid-level Enron executive were last night found guilty of conspiracy and fraud in the first criminal trial since the collapse of the energy trading giant three years ago.
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Japan's new environment minister admitted on Wednesday to mistakes in past political fund reports, dealing yet another blow to Prime Minister Shinzo Abe, who has been plagued by a slew of scandals in his cabinet.
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A federal jury on Tuesday convicted a former businessman of lying about his ties to a terrorist leader, marking the second time Soliman S. Biheiri has been found guilty in a sprawling probe into whether Islamic charities in Northern Virginia were financing terrorist organizations.
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A California woman has been found guilty on 22 charges related to defrauding the federal E-Rate program.
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A Ukrainian businessman is found guilty of making millions of pounds supplying illegal immigrants as cheap labour.
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A South Korean court found the private equity fund and one of its executives guilty of manipulating stock prices. The executive, Paul Yoo, was sentenced to five years.
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A gangmaster is found guilty of money laundering and people smuggling.
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WHITE PLAINS, Dec. 15  â A founder of the collapsed hedge fund the Bayou Group admitted Thursday in federal court that he had conspired to defraud investors of more than $10 million, federal prosecutors said.
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A jury Friday found former media tycoon Conrad Black guilty of mail fraud and obstruction of justice. He and three co-defendants defrauded shareholders of Hollinger International and skimmed $60 million from the newspaper conglomerate.
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(InfoWorld) - Three U.S. men and one man living in France have pleaded guilty to charges related to a stock manipulation scheme that included sending out tens of millions of spam messages to pump up the stock value of 15 companies, the U.S. Department of Justice said Thursday. The four men cost investors more than $20 million in their so-called pump-and-dump scheme, the DOJ said. Michael Saquella, also known as Michael Paloma, 47, of Mesa, Arizona., pleaded guilty in U.S. District Court for the Eastern District of Virginia in Alexandria on Aug. 20. Lawrence J. Kaplan, 63, of Scottsdale, Arizona, pleaded guilty on July 25, in Alexandria to similar charges. Henry "Hank" J. Zemla, 38, of Harris Township, Michigan, also pleaded guilty in federal court in Alexandria on July 20. The three defendants are scheduled to be sentenced between late November and early February. Saquella pleaded guilty to a criminal information charging him with one count of conspiracy to commit securities fraud and one count of electronic mail fraud involving 15 publicly traded companies. Kaplan pleaded guilty to a criminal information charging him with one count of conspiracy to commit securities fraud involving 14 of these companies, and Zemla pleaded guilty to a criminal information charging him with one count of conspiracy to commit securities fraud involving one of the companies. The plea agreements for all three defendants were unsealed Thursday. The scheme involved stocks from companies including eDollars, Xtreme Technologies, and PokerBook Gaming. Justin Medlin, 26, of Paris, also pleaded guilty in federal court in Alexandria on Aug. 20 to a criminal information charging him with one count of electronic mail fraud and one count of conspiracy to commit securities fraud and electronic mail fraud involving seven of the companies. Medlin's plea agreement was unsealed Thursday. He will be sentenced on Nov. 30. The maximum penalties for each of the fraud charges is five years in prison and a $250,000 fine. The stock manipulation schemes generally followed a similar pattern, the DOJ said. The defendants generally solicited small, privately held companies that needed to raise money. One of the defendants would offer to help the company raise significant money through the sale of the company's stock, and then the defendants would list the company's shares on the Pink Sheets, a price quotation system primarily used for trading small companies' stocks. The group of defendants would then gain control of a majority of the stock of the company, the DOJ said. The co-conspirators then engaged in deceptive and manipulative trading practices to boost the price and volume of the company's stock, the DOJ said. In some cases, members of the conspiracy encouraged investors to purchase companies' stock by giving the investors free-trading shares in return for buying blocks of shares at agreed-upon prices, thereby creating the illusion of trading volume and active investor interest. In other instances, members of the conspiracy bought and sold shares of the companies' stock between and among themselves to give the appearance of investor interest, the DOJ said. The co-conspirators also falsely manipulated the price and volume of each company's stock by making materially false and misleading statements in news releases and in spam e-mails distributed by Medlin and other spammers to tens of millions of U.S. e-mail addresses, in an effort to create artificial demand for the companies' stock, the DOJ said. In related actions, the U.S. Securities and Exchange Commission has filed civil charges against Saquella and Kaplan for their part in the schemes to manipulate the price and volume of the companies' securities. Three other defendants, Steven P. Luscko, Gregory A. Neu, and Brian G. Brunette, have pleaded guilty and have been sentenced in federal court in Alexandria for their roles in related stock manipulation schemes. Luscko and Neu were each sentenced to five years in prison and Brunette was sentenced to one year in prison.
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An insurance chief and two of his directors face sentencing after being convicted of defrauding investors.
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A Seattle federal court jury found six people guilty yesterday of conspiring to cheat the government out of $32 million through the use of an overseas tax shelter that ended up siphoning millions of dollars from investors.
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The founder and former chairman of the world&#39;s second largest contract chip maker was found not guilty of investing in and transferring technology to a Chinese chip maker, a Taiwanese court said Friday.
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Business & money: Â· Bright and two other directors found guilty Â· Cover-up ranked with Maxwell affair
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Singapore&#39;s central bank said Thursday it has fined three employees of the government&#39;s secretive investment fund for insider trading involving shares of a Japanese financial company.