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Global Roundup

Under this category you will find the news related to frauds in the various countries across the world

KPMG ex-partner in Insider Trading

Ex-Partner of KPMG was charged with insider trading by Securities Exchange Comission. The comission alleged that Scott London, Ex-Partner of KPMG tipped Bryan Shaw with confidential details about five KPMG audit...

State Bank Fined for Money Laundering

The Hong Kong central bank has fined State Bank of India's Hong Kong branch HK$7.5 million ($1 million) for breaching the city's anti money-laundering and counter terrorism financing rules. The Hong Kong...

Keyuan Petrochemicals – Story of another reverse merger fraud

Keyuan Petrochemicals Fraud The SEC alleges that Keyuan Petrochemicals, which was formed through a reverse merger in April 2010, systematically failed to disclose to investors numerous related party transactions involving its CEO,...

Flipkart being investigated for FDI Violations

FCPA investigations by Walmart was a major news for most of the media companies and also for the opposition party of India. Walmart being the first of the fortune five hundred...

Top 10 Ponzi schemes of 2013

The total loss caused to the investors in USA has reduced from $1488 million to $441 million in the 8 ponzi schemes enforced by SEC

Indonesia anti-graft agency snares its first minister

Indonesia's first minister to be named a suspect in a bribery scandal resigned on Friday, becoming the highest profile victim of an increasingly aggressive push by the country's anti-graft body to...

KPMG & Deloitte in trouble over HP-Autonomy Deal

A new shareholder lawsuit over Hewlett-Packard's acquisition of British software firm Autonomy has named Big Four audit firms KPMG & Deloitte as defendants, alleging they missed numerous red flags about Autonomy's...

SEC investigates KPMG Deloitte PwC and EY

Securities and Exchange Commission began administrative proceedings on 3rd December'2012, against the China affiliates of KPMG Deloitted PwC EY and another large U.S. accounting firm BDO, for refusing to produce audit...

Top ten Ponzi schemes of 2012

According to the SEC data on Ponzi scheme revelations, US investors have lost nearly $1488 Million to some of the biggest ponzi schemes in USA. Here are the top ten ponzi...

KPMG to Pay $456 Million for Criminal Violations

The United States Government alleges KPMG and its partners committed tax-shelter fraud by selling illicit deals and then misleading the IRS about the transactions it orchestrated for wealthy individuals between 1996...

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