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Global Roundup

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

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...

Global Icons who Laundered proceeds of corruption

According to a first of its kind report on ‘Ascertaining size of corruption in India with respect to money laundering’, an individual spent over Rs 2,000 as a cost of corruption...

SEC Charges Medlink International and Two Executives with Fraudulent Filing

The Securities and Exchange Commission today announced that it filed a civil injunctive action against MedLink International, Inc., its CEO, Aurelio Vuono, and its CFO, James Rose, accusing them of filing...

CPA Suspended in ADMI Fraud case

California based CPA was suspended from practicing before SEC on account of ADMI fraud case. Bishop is a sole practitioner CPA who conducted audits of the financial statements for Asthma Disease...

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...

David Zhou and the reverse merger frauds

Huakang "David" Zhou and his firm, Warner Technology and Investment Corporation identified more than 20 private companies in China and helped them gain access to U.S. capital markets. Zhou then turned...

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...

Thornburg Mortgage Accounting fraud

Thornburg Mortgage Accounting fraud Securities and Exchange Commission filed securities fraud charges in the United States District Court for the District of New Mexico against Larry Goldstone, the former chief executive officer...

Former Gateway CEO and Controllers Settle Fraud Charges

Weitzen and Manza consented to entry of the final judgments without admitting or denying the allegations made by the Securities and Exchange Commission that they engaged in fraud and other violations...

Microcap Fraud

Securities and Exchange Commission obtained a temporary restraining order against future violations of the antifraud, issuer reporting, books and records, internal controls and officer certification provisions of the federal securities laws....

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