Bribery, Fraud & Tax Evasion
David Wittig, the former chief executive of Westar Energy Inc., was sent to federal prison Tuesday after a judge ruled he had violated terms of his release pending an appeal of his bank fraud convictions.
For more than three decades, foreign oil companies wanting into Iraq have been like children pressed against the sweet shop window - desperately seeking to feast on the goodies but having no way of getting through the door. That could soon change.
UBS AG, the Swiss bank battered by massive write-downs and its role in a U.S. tax-evasion scheme, announced the surprise departure of chief executive Marcel Rohner. Mr. Rohner's sudden departure comes after UBS agreed earlier this month to a $780 million settlement with the U.S. Justice Department of a criminal inquiry into the bank's role in the tax evasion.
Companies working in support of U.S. troops in Iraq are hauling Houston-headquartered defense contractor, Halliburton, into U.S. federal court with claims that the company stiffed them for hundreds of millions of dollars after they provided essential services in the war effort.
Spain will inject emergency capital into the country's biggest ailing bank, Bankia, as it puts into place reforms to allow loss-making banks to receive eurozone bailout money.
Keith Schooley, a former star financial consultant with Merrill Lynch, warns Bank of America CEO Kenneth Lewis that he may soon experience buyer's remorse over his acquisition of Wall Street's fallen idol.
Asia is seeing an "epidemic of counterfeits" of life-saving drugs, experts say, and the problem is spreading. Malaria medicines have been particularly hard hit; in a recent sampling in Southeast Asia, 53 percent of the anti-malarials bought were fakes.
Growing concerns over the safety of everyday goods manufactured in China and imported to the US have thrown into relief the problematic (and dangerous) differences in safety and regulatory standards between the two countries.
Bush's Corporate Responsibility plan is pretty anemic -- not what you'd expect from a president desperate to keep the current crisis from becoming a major political liability.