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Page 27 of 40

Former Credit Suisse Wealth Manager Sentenced to Five Years in Jail for Fraud

Posted  02/9/18
By the C|C Whistleblower Lawyer Team Today, a Geneva court sentenced former Credit Suisse wealth manager Patrice Lescaudron to five years in prison for executing a fraudulent scheme that made him tens of millions in Swiss francs. Lescaudron was considered a “star” of the bank’s Russia desk where he advised-and defrauded-high powered clients such as former Georgian Prime Minister Bidzina Ivanishvili and Russian...

HSBC Holdings Agrees to Pay More Than $100 Million to Resolve Fraud Charges

Posted  01/19/18
By the C|C Whistleblower Lawyer Team/em United Kingdom-based global financial services company HSBC Holdings plc entered into a deferred prosecution agreement and agreed to pay a $63.1 million criminal penalty and $38.4 million in disgorgement and restitution to resolve charges that it engaged in a scheme to defraud two bank clients through a multi-million dollar scheme commonly referred to as “front-running.”...

Top-5 Foreign Corrupt Practices Act (FCPA) Settlements for 2017

Posted  01/17/18

Here is our look-back at the top-5 Foreign Corrupt Practices Act (FCPA) settlements for 2017. Click here for a chronological listing of all DOJ fraud recoveries for 2017.

  1. Telia Company AB -- The Stockholm-based company and its Uzbek subsidiary Coscom LLC agreed to pay a combined total penalty of more than $965 million to resolve charges of violating the Foreign Corrupt...

Top-10 Financial Fraud Prison Sentences for 2017

Posted  01/17/18

Here is our look-back at the Top-10 prison sentences in 2017 for violating the False Claims Act or engaging in other financial frauds.  Click here for a chronological listing of all DOJ fraud resolutions for 2017.

  1. Marie Neba -- The owner and director of nursing of Houston home health agency Fiango Home Healthcare Inc. was sentenced to 900 months in prison for her role in a...

Real Estate Broker Pleads Guilty in Foreign Bribery Scheme Involving $800 Million Real Estate Deal

Posted  01/9/18
By the C|C Whistleblower Lawyer Team A New Jersey real estate broker pleaded guilty to violating the Foreign Corrupt Practices Act (“FCPA”) in connection with his efforts to bribe a foreign official for the purpose of securing a real estate deal. According to the Department of Justice, Joo Hyun, also known as Dennis Bahn, attempted in 2014 and 2015 to secure the sale of a building in Vietnam owned by Keangnam...

$45 Million Multi-State Settlement With PHH Mortgage Corporation

Posted  01/5/18
By the C|C Whistleblower Lawyer Team Forty-nine states and the District of Columbia reached a $45 million settlement with New Jersey-based mortgage lender and servicer PHH Mortgage Corporation. The settlement resolves allegations that PHH, the nation’s ninth largest non-bank residential mortgage servicer, improperly serviced mortgage loans from January 1, 2009 through December 31, 2012. The settlement does not...

Judge Determines that PricewaterhouseCoopers was Negligent in Colonial Bank Auditing Case

Posted  01/3/18
By the C|C Whistleblower Lawyer Team Late last week, a federal judge determined that accounting giant PricewaterhouseCoopers (PwC) was negligent in its auditing of Colonial Bank, the Alabama institution that failed in 2009 in the midst of the financial crisis. Colonial failed as a result of a $2 billion fraud orchestrated by Florida-based mortgage lender Taylor Bean & Whitaker, a major Colonial customer, which was...

Recent Keppel Settlement Makes FCPA Top-10 List

Posted  01/2/18
By the C|C Whistleblower Lawyer Team As reported in FCPA Blog, the recent Foreign Corrupt Practices Act (FCPA) settlement with Keppel Offshore & Marine Ltd. broke through the Top-10 list of FCPA settlements on record. The company was assessed criminal penalties amounting to $422 million for the bribes it made to officials at the Brazilian state-owned oil company Petrobras and to the then-governing political party...

British Columbia: It’s Time for a Securities Whistleblower Program

Posted  12/28/17
By the C|C Whistleblower Lawyer Team The ever-increasing complexity of the securities markets is making fraud harder to detect and making whistleblowers more essential than ever before. With insider knowledge, whistleblowers can help enforcement officials detect fraud and apprehend fraudsters much quicker than otherwise. Whistleblowers who approach authorities take tremendous risk, including the risk of ruining their...

Singapore Shipping Company Pays Major FCPA Fine for Foreign Bribery

Posted  12/26/17
By the C|C Whistleblower Lawyer Team On Friday, the Department of Justice announced a major Foreign Corrupt Practices Act (FCPA) settlement with Keppel Offshore & Marine Ltd., a Singapore-based company that operates shipyards and repairs and upgrades shipping vessels, and its wholly owned U.S. subsidiary Keppel Offshore & Marine USA Inc. The companies agreed to pay a combined total penalty of more than $422 million...
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