Fraud, Scandal | featured news

New York State Sen. Malcolm Smith and five other politicians pleaded not guilty Tuesday to corruption charges in connection with an alleged plot to buy a line on New York City's mayoral ballot. The allegations revived public concerns about a documented culture of exploitation in Albany that has prompted officials to seek legal recourse to induce change.

The voice on telephone messages left for Manti Te'o matches that of the 22-year-old man who says he posed as a woman in carrying on a relationship -- by e-mail and over the phone -- with the Notre Dame linebacker, according to the "Dr.

Notre Dame football star Manti Te'o told ABC News' Katie Couric that he had lied to keep up a hoax involving a nonexistent dying girlfriend once he learned he had been duped two days before the Heisman Trophy winner was announced.

So just when we thought we had heard all about the threats the hazardous use of derivatives could unleash on to the economy, a leading bank [Morgan Stanley] apparently managed to find a new way to use them, this time to help gouge consumers of more than $150 million.

The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate... The Bank of England confirmed on Friday it had received U.S. recommendations to overhaul the Libor benchmark at the heart of a global rate-rigging scandal, saying it had passed them on to the banking group responsible for the rate.

A second senior Democratic lawmaker may face a public ethics trial this fall, posing a possible setback to the party's efforts to keep control of the House of Representatives in the November elections.

The mayor and her teenage daughter have been found shot to death at their home, city officials said Wednesday July 14, 2010. Police discovered the bodies of Coppell Mayor Jayne Peters, 55, and Corrine Peters, 19, Tuesday evening, community information officer Sharon Logan said. Police found no signs of forced entry, Logan said.

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.

Two ex-Blackwater Worldwide employees allege the company charged the government for a prostitute and strippers and kept incompetent personnel for financial reasons, part of what they call a systematic pattern to defraud authorities.

President Barack Obama will issue an executive order Tuesday creating an administration-wide task force to crack down on financial fraud following a rise in mortgage scams and high-profile Wall Street trading scandals, an administration official said.