Banking, Finance & Services

A former broker with the Bank of America Corporation who was acquitted in June on 29 of 33 criminal charges linked to improper mutual fund trading reached a separate settlement with the Securities and Exchange Commission today. Read More

Questionable transactions at Refco, one of the world's biggest commodities brokerage firms, began in 1998 and continued until this year, the company said yesterday. Read More

There's one group of people who should be giving thanks daily for the Enron scandal: the partners of KPMG, one of the Final Four accounting firms. That's because the fallout from Enron is what allowed KPMG to extract a favorable settlement from the Justice Department last week. The firm agreed to fork over less than a year's profit in return for not being indicted on a zillion counts of cheating the government by peddling sleazy, dishonest tax shelters for six years. Read More

The US authorities are expected to unveil a setlement with KMPG over its past sales of allegedly abusive tax avoidance schemes in order to avoid trial. Read More

KPMG, the accounting firm under investigation for selling questionable tax shelters, will pay $456 million and accept an outside monitor of its operations under terms of an agreement with prosecutors that heads off an indictment of the firm, people briefed on the deal said yesterday. Read More

The former director of accounting at WorldCom, Buford Yates Jr., was sentenced to a year and a day in prison on August 9, 2005 for his role in the large fraud at the company. Read More

Lurking within the records of most cities and states in America there lies a scandal. A tax scandal. A jobs scandal. A corporate and political scandal. Read More

Former Cendant Corp. Vice Chairman E. Kirk Shelton was sentenced Wednesday to 10 years in prison for his role in an accounting scandal that cost investors more than $3 billion. Read More

A tiny, but effective, religious right financial movement is using fundamentalist values and shareolder activism to push conservative evangelism into corporate suites. Read More

Four big scandals have come to light in as many months at big blue chip companies - Volkswagen, DaimlerChrysler, Infineon and Commerzbank. In each case, allegations of bribe taking, money-laundering and related crimes have led to the resignation of senior executives. Read More