Tue, 26 Apr 2005 21:04:14 GMTNEW YORK -- Theodore C. Sihpol III is fighting back.
Tue, 26 Apr 2005 21:04:14 GMTAdelphia Communications Corp., the nation's fifth-largest cable television company, yesterday agreed to pay $715 million to settle federal investigations stemming from rampant earnings manipulation and self-dealing by its corporate founders.
Tue, 26 Apr 2005 21:04:14 GMTFriedman, Billings, Ramsey Group Inc.'s brokerage subsidiary is close to settling a Securities and Exchange Commission investigation into a 2001 investment banking transaction, a source with knowledge of the matter said yesterday.
Tue, 26 Apr 2005 21:04:14 GMTBearingPoint Inc. raised $200 million yesterday by selling debt convertible into its stock, easing a potential cash crunch at the McLean consulting firm.
Tue, 26 Apr 2005 21:04:14 GMTA federal grand jury in Arkansas is investigating allegations that the former head of U.S. operations at Wal-Mart Stores Inc. misused up to $500,000 in corporate funds, the giant retailer said yesterday.
Tue, 26 Apr 2005 21:04:14 GMTThe leaders of an international tax shelter scheme known as Anderson's Ark and Associates were sentenced yesterday to as much as 20 years in prison and ordered to pay more than $200 million in fines and restitution, the Justice Department said.
Tue, 26 Apr 2005 21:04:14 GMTSusan Kalla, a well-known and widely quoted Wall Street stock analyst who accurately predicted the collapse of the telecommunications equipment sector in 2000, was fired by Friedman, Billings, Ramsey Group Inc. after an internal investigation into her personal stock trading, according to sources inside and outside the company with knowledge of the matter.
Tue, 26 Apr 2005 21:04:14 GMTHOUSTON, April 21 -- Two former Merrill Lynch & Co. executives convicted in Enron's bogus sale of power barges to the brokerage were sentenced Thursday to prison terms far shorter than the punishment sought by the government.
Tue, 26 Apr 2005 21:04:14 GMTShares of BearingPoint Inc. plummeted more than 30 percent yesterday as investors reacted to news that the Securities and Exchange Commission had begun an informal investigation of the consulting firm's accounting procedures and the company's warning that it may run short of cash.
Tue, 26 Apr 2005 21:04:14 GMTBearingPoint Inc. said yesterday that the Securities and Exchange Commission has launched an informal investigation into its accounting practices and that its financial statements dating as far back as mid-2002 could be wrong.
Tue, 26 Apr 2005 21:04:14 GMTDeputy Attorney General James B. Comey, a veteran of terrorism and organized crime prosecutions, will leave his post this fall.
Tue, 26 Apr 2005 21:04:14 GMTKPMG LLP yesterday agreed to pay $22.5 million to settle civil charges that it helped client Xerox Corp. break securities laws over a four-year period.
Tue, 26 Apr 2005 21:04:14 GMTInvestors who bring corporate-fraud lawsuits must show a link between alleged illegal activity and a drop in stock prices, the Supreme Court ruled yesterday.
Tue, 26 Apr 2005 21:04:14 GMTATLANTA, April 18 -- The Justice Department ended its criminal investigation of Coca-Cola Co. without taking action, the world's biggest soft drink maker said Monday.
Tue, 26 Apr 2005 21:04:14 GMTCase against telecom tycoon Walter C. Anderson is evidence of how hard it can be for the government to determine whether sophisticated and successful people are paying their share of taxes.
Tue, 26 Apr 2005 21:04:14 GMTThe founder of AmeriDebt Inc., the now bankrupt Maryland credit-counseling firm, took $70 million from its operations between 1999 and 2003 and spent lavishly on his wife, girlfriend and himself, including paying $179,000 to an interior decorator, $13,500 to a yachting company and $2,500 on a restaurant tab.
Tue, 26 Apr 2005 21:04:14 GMTFannie Mae's top legal officer is leaving the company to rejoin his former law firm, the latest in a string of executive departures as the Washington mortgage finance company undergoes sweeping changes.
Tue, 26 Apr 2005 21:04:14 GMTDynegy Inc., a U.S. power producer that nearly went bankrupt after Enron Corp. collapsed, will pay $468 million to settle shareholder claims that it misled investors by disguising loans as energy trades in 2001.
Tue, 26 Apr 2005 21:04:14 GMTThe Securities and Exchange Commission has filed civil charges against two Frederick businessmen, accusing them of bilking investors of more than $8 million and using the money to speculate in the gold and silver markets.