Fraud | featured news

When the airline industry took a nose dive a decade ago, executives at global carriers scrambled to find a quick fix to avoid financial ruin. What they came up with, according to federal prosecutors, was a massive price-fixing scheme among airlines that artificially inflated passenger and cargo fuel surcharges between 2000 and 2006 to make up for lost profits.

Alibaba.com CEO David Wei resigned after an internal investigation found that more than 2,300 sellers on the e-commerce site were committing fraud, sometimes with the help of Alibaba.com sales staff.

The defendants, including five in Los Angeles, allegedly cheated the government out of more than $225 million in false billing schemes.

During the housing crash, it was good to be a foreclosure king. David Stern was Florida's top foreclosure lawyer, and he lived like an oil sheik. He piled up a collection of trophy properties, glided through town in a fleet of six-figure sports cars and, with his bombshell wife, partied on an ocean cruiser the size of a small hotel....

Tighter budgets at the U.S. Securities and Exchange Commission could mean killing vital technology upgrades needed to catch swindlers, the agency's chief said on Friday in a blunt appeal for more funding.

Bank of America Corp's Countrywide mortgage unit has been sued by investors claiming they were victimized in a "massive fraud" when they bought mortgage-backed securities.

Finally, after 13 years of needless controversy, the British Medical Journal determined that Andrew Wakefield's vaccine-autism link constituted an "elaborate fraud."

The first study to link a childhood vaccine to autism was based on doctored information about the children involved, according to a new report on the widely discredited research.

Bank of America Corp. violated Arizona's consumer fraud law by misleading consumers who tried to reduce their mortgage payments so they could keep their homes, state Attorney General Terry Goddard said Friday as he filed a civil lawsuit against the bank....

In the end, Adam Wheeler, a 24-year-old who conned his way into Harvard and benefited from more than $40,000 (£26,000) in grants and prizes, flew too close to the sun. Not content with having bragged his way into one of the world's most prestigious universities, he felt driven to apply – equally fraudulently – for Rhodes and Fulbright scholarships.