Fraud | featured news

A wealthy Manhattan investment banker and former top Democratic fundraiser was sentenced Thursday to 12 years in prison for defrauding banks of $292 million, some of which he donated to politicians including Barack Obama, Hillary Rodham Clinton and Al Gore.

Goldman Sachs Group Inc agreed to pay $550 million to settle civil fraud charges over how it marketed a subprime mortgage product, ending months of negotiations that rattled the bank's clients and investors.

Already grappling with a surge in claims for unemployment insurance, recession-weary state labor departments are also now dealing with increased fraud.

The Supreme Court has struck down part of the anti-fraud law enacted in response to Enron and other corporate scandals from the early 2000s.

Supreme Court says fraud law can't be used in convicting Skilling for role in Enron collapse.

The Securities and Exchange Commission on Monday accused a New York firm that helped manage complex mortgage securities of defrauding investors as the housing market collapsed.

In a nationwide effort, officials file criminal charges against individuals allegedly responsible for $2.3 billion in fraud. 'These schemes are despicable; they are dangerous to our economy,' Atty. Gen. Eric Holder says.

A grand jury has indicted the chief executive of what was once among the nation's largest independent home-loan providers on 16 counts of bank, securities and wire fraud.

South Florida Ponzi scheme mastermind Scott Rothstein was sentenced to 50 years in prison on Wednesday for an investment fraud that bilked clients out of more than $1 billion.

More than two months after Iraq's parliamentary polls, the electoral commission reports no cases of fraud in a partial recount.