Suit says secret accounts at DCX used for bribes
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The Securities and Exchange Commission is investigating allegations that German automaker DaimlerChrysler AG maintained at least 40 secret bank accounts to bribe foreign government officials
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In the four days since New York Attorney General Eliot L. Spitzer alleged that brokers and corporate insurance carriers were engaged in bid-rigging and secret payoffs
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A Hong Kong accounting firm made $2.7 million from illegal insider trades by hacking into computers to view press releases before they were published, according to the Securities and Exchange Commission .
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Two new investigations Siemens has revealed that it is under investigation by the US Department of Justice over allegations that it paid out some â¬420m in bribes to help it secure telecoms contracts outside of Germany.â¦
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NEW YORK -- US government prosecutors filed charges in one of the biggest insider-trading cases on Wall Street since the 1980s, claiming employees at UBS AG , Morgan Stanley , and Bear Stearns Cos. profited from advance knowledge of mergers and stock picks.
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An investor has sued Children's Place Retail Stores Inc  and several of the company's executives, claiming executives hid information and misled investors.
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A Defense Department analyst and a former engineer for Boeing Co. were accused Monday in separate spy cases with helping deliver military secrets to the Chinese government, the Justice Department said.
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(InfoWorld) - The U.S. Securities and Exchange Commission has filed securities fraud charges against two Texas men who allegedly hijacked computers nationwide to send millions of spam e-mails and cheat investors out of more than $4.6 million. The men used networks of compromised computers, often called botnets, to send out spam about at least 13 penny stock companies, the SEC said Monday. The SEC began to investigate the operation after one of its enforcement attorneys received one of the e-mail messages at work. Darrel Uselton and his uncle, Jack Uselton, both repeat securities law violators, illegally profited during a 20-month scalping scam, the SEC said. The two obtained shares from 13 or more penny stock companies and sold those shares after pumping up the market through manipulative trading, spam e-mail campaigns, direct mailers and Internet-based promotions, the SEC said. The SEC defines scalping as recommending that other people purchase a security while secretly selling the same stock. In related actions, the Attorney General's Office for Texas and the Harris County District Attorney's Office indicted the Useltons for engaging in organized criminal activity and money laundering. The Texas authorities have seized more than $4.2 million from bank accounts controlled by the Useltons, the SEC said. The SEC's action is "intended to protect investors from fraud artists who would treat the investing public as their personal ATM machines," SEC Chairman Christopher Cox said in a statement. The scheme, by combining get-rich-quick promises, computer intrusions and spam, was a "virulent threat to ordinary investors," he added. The SEC's complaint, filed in the U.S. District Court for the Southern District of Texas in Houston, alleges that the Useltons used an array of computer botnets to anonymously flood the inboxes of American investors with millions of spam e-mails touting near-worthless penny stocks. Each campaign, which featured a single company, lasted from several days to several weeks. Between May 2005 and December 2006, the Useltons obtained more than $4.6 million through their fraudulent scheme, the SEC alleged. The Useltons and the companies they controlled typically received unrestricted shares from penny stock companies for little or no money, in return for purported financing or promotional activities, the SEC said. Darrel Uselton was disciplined by the National Association of Securities Dealers in 2004 and 2005. Jack Uselton was permanently barred from violating the SEC's antifraud provision in a 2002 settled action, the SEC said. The SEC in March 2007 suspended trading in the securities of three of the companies involved as part of its antispam initiative. The SEC revoked the registration of a fourth company in December 2005.
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Claiming national security concerns, and backed by Justice Department special counsel, the phone provider argues in federal court that a lawsuit against it for ponying up millions of phone records for a secret government data-mining program should be dismissed. Ryan Singel reports from the courthouse.
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A Connecticut man facing economic espionage charges says he wasn't serious about selling already-leaked Microsoft source code, but an undercover investigator for the software giant was determined to pay him something.
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The largest Homeland Security Department contractors include two companies which paid millions to settle charges they defrauded the Pentagon, one firm which paid a foreign corruption fine and a business accused of botching a computer system for veterans hospitals, records show.
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Two indictments issued Tuesday by a federal grand jury in San Diego contain fresh details related to alleged efforts by Brent R. Wilkes, a California businessman, to bribe a member of Congress and a senior CIA official. The goal, prosecutors charge, was to get the officials to steer lucrative...
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ALEXANDRIA, Va. -- Attorneys for a US-based security company accused of setting up sham companies in a multimillion-dollar fraud scheme in Iraq are contending in court that the company cannot be sued under a key federal anticorruption law because the allegedly stolen money belonged to Iraqis, not Americans.
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Two mid-level D.C. government employees used phony paperwork to collect more than $16 million from illegal tax refunds, avoiding detection for at least three years while issuing more than 40 checks cashed by friends and family members in on the scam, prosecutors said yesterday.
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The Justice Department is using secret evidence in its ongoing legal battles over secrecy with the American Civil Liberties Union, submitting material to two federal judges that cannot be seen by the public or even the plaintiffs, according to documents released yesterday.
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Securities regulators are suing the management team behind the rapid rise and fall of online credit lender NextCard Inc., alleging the company&#39;s top executives cooked the books and then scrambled to sell their stock before the ruse unraveled into
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A US civil liberties group sues a Beoing subsidiary for allegedly helping the CIA fly terror suspects overseas.