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Crime and Law
Tax-refund fraud is expected to soar again this tax season, and hit a whopping $21 billion by 2016, from just $6.5 billion two years ago, according to the Internal Revenue Service. And the problem—which the agency admits is growing quickly—is compounded by an outdated fraud-detection system that has trouble identifying many attempts to trick it. …
Eunice Yoon explains why China’s iPhone black market is booming.
Law enforcement is cracking down on websites that sell illegal drugs, guns and stolen credit cards, but business is still strong.
The court-appointed trustee rounding up funds for victims of the epic Madoff Ponzi scheme says the total recovered now tops $10 billion, an amount virtually no one thought possible when the scam collapsed nearly six years ago. Trustee Irving Picard filed the latest proposed settlement Monday in U.S. Bankruptcy Court in Manhattan. The deal would …
SINGAPORE — The Ai Maru steamed alone under night skies on June 14 when a speedboat slipped in from the darkness and overtook the tanker about 30 miles off the coast of Malaysia. At 9:15 p.m., seven men with handguns and knives clambered up over the side, smashed through doors, tied up crew members at …
A British investigator linked to the U.K. drug giant GlaxoSmithKline was convicted in China on Friday in a case that many in the international business community believe highlights the risks of conducting due diligence on Chinese companies and investments. The investigator, Peter Humphrey, and his American wife Yu Yingzeng werefound guilty of illegally acquiring personal information of Chinese nationals, …
FedEx has been indicted on 15 criminal counts for helping internet pharmacies deliver drugs to buyers in the U.S. without prescriptions.
An exhaustive new study concludes that one quarter of all public company deals involves some type of insider trading. That report, which was conducted by professors from New York University and McGill University examined transactions back to 1996.
It was in 2011, when a particular quarter horse farm in Oklahoma was booming with business. This as the recession was taking a toll on the usually lucrative industry. The farm’s owner, Jose Trevino Morales, had only recently broken into the quarter horse scene and was making waves with his million dollar prize winnings, and …
Tax season is high season for crooks who want to steal your identity and claim your refund.
Five years ago a massive Ponzi scheme shocked the world. Allen Stanford was accused of bilking investors out of billions of dollars and his victims are still suffering.
Up to 110 million people were impacted by Target’s security breach.
Alcoa settled bribery charges with government regulators and missed earnings estimates.
JP Morgan is hit with a $1.7 billion fine, but will the penalty change banker behavior?
In a news conference on the JPMorgan settlement of the Madoff Case, U.S. Attorney for the Southern District of New York Preet Bharara said the bank as an institution, failed and failed miserably. It will cost JPMorgan Chase nearly $2.6 billion total to settle allegations that it turned a blind eye to Bernard Madoff’s epic Ponzi scheme. …