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News >> Fraud

Bloomberg reports that Hewlett-Packard Company (HP) has agreed to pay US$57 million to settle a suit that alleges the company's management defrauded shareholders in its handling of company strategy in 2011.

Published in Consumer Protection

The United States (US) Securities and Exchange Commission (SEC) has announced that one firm and six individuals have agreed to pay a total of more than US$4.5 million to settle charges relating to a variable annuities scheme that allegedly sought to "profit from the imminent deaths of terminally ill patients".

The United States (US) Department of Justice (DoJ) has announced that Military Professional Resources Inc (MPRI) has agreed to settle allegations that it "submitted false labor charges on a contract to support the [US] Army in Afghanistan" by paying US$3.2 million.

Published in Government Contracting

Former Executive Indicted for Kickback Scheme

12 Feb 2014
Written by World Watch

The United States (US) Department of Justice (DoJ) has announced that former corporate executive Asem Elgawhary has been indicted by a grand jury on fraud, money laundering and tax-related charges. DoJ criminal division Acting Assistant Attorney General Mythili Raman stated that Mr Elgawhary is alleged to have used his managerial position, within a joint venture by the corporation of which he was an executive and a state-owned electricity company, to award three power companies more than US$2 billion worth of contracts in return for US$5 million in kickbacks.

Presented by:

Alice Martin - Former U.S. Attorney with the U.S. Dept of Justice and Leader of the HealthSouth Criminal Prosecutions

 

This educational webinar features former U.S. Attorney Alice Martin. >During her presentation, Ms. Martin will discuss OIG and DOJ enforcement priorities for 2014 including detailed information and analysis of their ongoing focus on healthcare fraud and recent enforcement cases. Ms. Martin was the U.S. Attorney for the Northern District of Alabama from 2001-2009. During her tenure, she headed a nationally recognized Health Care Fraud Task Force and led the criminal HealthSouth investigation. Ms. Martin’s experience as a U. S. Attorney provides a unique perspective into the manner in which law enforcement and regulatory agencies build civil and criminal health care prosecutions and how your compliance program is evaluated in light of U. S. Sentencing Guideline mandates.

Published in Webinars

The United Kingdom National Audit Office (NAO) has released its memorandum The Ministry of Justice's electronic monitoring contracts (19 November 2013), which sets out the UK Ministry of Justice's (MoJ) decision to commission an independent forensic audit of its electronic monitoring contracts with the firms G4S and Serco.

Published in Government Contracting

The United States (US) Department of Justice (DoJ) has announced that Costa Rica-registered digital currency company Liberty Reserve SA (Liberty Reserve) co-founder Vladimir Kats has pleaded guilty to "money laundering and operating an unlicensed money transmitting business".

Published in Anti-Money Laundering

Misleading Use of Company Logos by Websites

31 Oct 2013
Written by World Watch

The Australian Securities and Investments Commission (ASIC) has announced that Insure 247 Pty Ltd (Insure 247) has edited its insurance product quote-providing websites in response to ASIC concerns of misleading or deceptive advertising.

Published in Consumer Protection

A US Federal Court jury has found Bank of America Corporation (BofA) liable on a civil fraud charge relating to defective mortgages sold by its Countrywide unit to the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).

Published in Financial Integrity

United States (US)-based banking firm JP Morgan Chase & Co (JP) is conducting an internal review of its commercial-lending clients in a move that is expected to result in a scaling back of JP's lending to companies classified as posing a higher risk of money laundering or fraud, such as pawn shops, payday lenders, cheque cashers and some car dealers.

Published in Anti-Money Laundering
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