wire fraud – News Stories About wire fraud - Page 4

Polaroid Files
for Bankruptcy
a Second Time

Dec 19, 2008 12:08 PM CST

Polaroid Files for Bankruptcy a Second Time

Photography icon blames fraud at parent company

(Newser) - Polaroid is blaming fraud at its parent company for its second bankruptcy filing in 7 years, Bloomberg reports. The instant photography pioneer says it has “ample cash reserves” and doesn’t expect to seek additional financing under Chapter 11 reorganization. But the Petters Group, which acquired the 71-year-old firm...

Email May Toast Arrested Bear Fund Managers

Jun 19, 2008 10:16 AM CDT

Email May Toast Arrested Bear Fund Managers

Pair faces charges of misleading investors in $1.6B collapse

(Newser) - A pair of former Bear Stearns hedge-fund managers arrested today on federal fraud charges could be done in by an email in which one described their market position as "toast"—days before telling investors it was "quite comfortable." Matthew Tannin and Ralph Cioffi will be indicted...

Renzi Should Step Down, House GOP Leader Says

Feb 23, 2008 8:04 AM CST

Renzi Should Step Down, House GOP Leader Says

GOP doesn't want to weather another scandal

(Newser) - House Minority Leader John Boehner is pressuring Rep. Rick Renzi, indicted yesterday for extortion, money laundering, and fraud in connection with an Arizona land deal, to step down, urging his fellow Republican "to seriously consider whether he can continue to effectively represent his constituents under these circumstances.” Boehner...

Brit Enron
Bank Grafters
Plead Guilty

Nov 29, 2007 3:12 AM CST

Brit Enron Bank Grafters Plead Guilty

'Natwest Three' confess to fraud charge in plea bargain

(Newser) - Three British bankers confessed to an Enron scam in Texas yesterday, admitting to a single charge of transatlantic wire fraud as part of a plea bargain. They'll now have to pay back the $7.3 million the scam netted. The "Natwest Three" said in a statement they hoped this...

Pentagon Spent $1M on 2 Washers

Aug 16, 2007 2:34 PM CDT

Pentagon Spent $1M on 2 Washers

Crafty twin sisters bilked government out of $20.5 million over 6 years

(Newser) - Twin sisters at a parts supplier scammed the Pentagon out of $20.5 million in fraudulent shipping costs, including $998,798 they charged to ship two 19-cent washers and half a mil to ship three machine screws to Iraq. The Pentagon took six years to catch on to the sisters'...