Search
KPMG, the accounting firm under investigation for selling questionable tax shelters, will pay $456 million and accept an outside monitor of its operations under terms of an agreement with prosecutors that heads off an indictment of the firm, people briefed on the deal said yesterday.
The US authorities are expected to unveil a setlement with KMPG over its past sales of allegedly abusive tax avoidance schemes in order to avoid trial.
When individuals sue major corporations, the odds are stacked against them. One woman's fight against an insurance giant details those odds and what it takes to beat them.
Lurking within the records of most cities and states in America there lies a scandal. A tax scandal. A jobs scandal. A corporate and political scandal.
The former director of accounting at WorldCom, Buford Yates Jr., was sentenced to a year and a day in prison on August 9, 2005 for his role in the large fraud at the company.
Four big scandals have come to light in as many months at big blue chip companies - Volkswagen, DaimlerChrysler, Infineon and Commerzbank. In each case, allegations of bribe taking, money-laundering and related crimes have led to the resignation of senior executives.
One of Germany's biggest banks is at the center of an intensifying money-laundering investigation into whether Russian telecommunications assets now worth hundreds of millions of dollars were diverted through a company set up by a longtime ally of Russian President Vladimir Putin.
The big four accounting firms are trying to water down plans by the US regulator to hold their staff responsible for violations of securities laws.
Bernard J. Ebbers, the founder and former chief executive of WorldCom, was sentenced to 25 years in prison today for his role in the record $11 billion accounting fraud that brought down the telecommunications company in 2002.
Federal prosecutors aren't done with HealthSouth Corp., despite the acquittal of ousted CEO Richard Scrushy in a $2.7 billion earnings overstatement.
A Milan judge sentenced 10 former Parmalat executives and a lawyer to jail on Tuesday in the first guilty ruling over the 14-billion-euro (9.3-billion-pound) collapse of Italy's biggest listed food group.
The American International Group has hired Arthur Levitt, a former Securities and Exchange Commission chairman, as a consultant to the board in an effort to quell dissent from institutional investors.
In time for this month's World Summit on Sustainable Development (WSSD), environmental justice and human rights NGO groundWork today launches a series of five booklets entitled South African People and Environments in the Global Market. Today, we also release the full agenda for the Corporate Accountability Week taking place from the 20th - 23rd August in Sandton.
Bernard J. Ebbers, the founder and former chief executive of World Com who was found guilty of fraud by a New York jury in March, agreed yesterday to surrender nearly all of his personal fortune - about $40 million - to investors who lost billions when the company spiraled into bankruptcy almost three years ago.
Bernard J. Ebbers, the founder and former chief executive of World Com who was found guilty of fraud by a New York jury in March, agreed yesterday to surrender nearly all of his personal fortune - about $40 million - to investors who lost billions when the company spiraled into bankruptcy almost three years ago.
J. P. Morgan Chase announced that it had agreed to pay $2.2 billion to Enron investors who accused the bank of participating in the accounting scandal that led to Enron's collapse.
A Russian court convicted Mikhail B. Khodorkovsky,
the embattled tycoon and founder of the Yukos oil company, of criminal
charges today and sentenced him to nine years in a prison camp,
bringing to an end the most closely watched trial in Russia since the
Soviet Union collapsed.
The verdict and the sentence concluded a lengthy legal exercise whose ending long ago felt foregone.