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Global Roundup

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

Serious Fraud office investigate Rolls Royce

British aerospace and defence firm Rolls Royce is co-operating with fraud investigators over allegations of bribery and corruption involving intermediaries in China and Indonesia, the company says. Rolls Royce said it had...

Homestore To Settle Accounting-Fraud Suit Worth $70 Million

Homestore, an online real estate services company that provides listings to America Online, has said that it has agreed to pay about $70 million in cash and stock to settle a...

Bristol-Myers Execs Accused of Fraud

Two former Bristol-Myers Squibb Co. executives defrauded investors by improperly accounting for $1.5 billion in revenue in 2000 and 2001, the Securities and Exchange Commission said Monday. Frederick Schiff, former chief financial...

Freddie Mac Gets Penalty And Rebuke Over Scandal

Federal regulators released a scathing report Wednesday on the corporate culture that fostered improper accounting at Freddie Mac, the same day that they announced that the company had agreed to pay...

Jai Ho Gurudeo of Ponzi Schemes

Gurudeo “Buddy” Persaud is the classic example of innovation in Ponzi schemes. He lured family, friends, and others into investing in his firm, White Elephant Trading Company LLC, by falsely guaranteeing...

Lernout & Hauspie

June 2000: Lernout & Hauspie reports 1999's revenue of $143.2 million from South Korea and Singapore, up from less than $300,000 in the prior year. August 2000: The Wall Street Journal reports...

Carter’s Accounting Fraud

Securities and Exchange Commission charged Michael Johnson, a divisional merchandise manager at Kohl's, which is a national department store. The complaint alleged that Johnson assisted the financial fraud at Carter's, Inc,...

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...

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...

SFIO to probe KPMG role in INR870 Crore Reebok case

Global audit major KPMG will face questions from the Serious Frauds Investigation Office (SFIO) in connection with the Rs 870-crore alleged fraud at Reebok India, corporate affairs secretary Naved Masood said...

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