Financial Crime Online

The Quadrangle Group agreed to pay $ 12 million to settle allegations of paying kickbacks to get business from a NY pension fund. The investment firm will pay $ 7 million to the pension fund and $ 5 million to the SEC. News of the settlement came on the same day that the state comptroller, [...]

The SEC claims that Goldman created and sold to its clients a mortgage unit that was devised to fail ,without telling clients that the set up was for the portfolio to fail. Within half an hour after this announcement, Goldman’s share price dropped 10% (or over $ 10 billion). The SEC alleges that one of [...]

German car producer Daimler and its Russia and China subsidiaries reached an agreement with the US Justice department to settle Foreign Corrupt Practices Act (FCPA) Charges.  The settlement follows allegations of widespread corruption within the company, or rather a corporate culture that encourages staff to bribe officials to secure contracts. Daimler acknowledged that is conspired [...]