British-Australian mining giant Rio Tinto and two of its former executives have been charged with fraud in the US, accused of hiding losses by inflating the value of African coal assets. It bought the Mozambique assets in 2011 for $3.7bn (£2.8bn) and sold them a few years later for $50m. […]
The predicament unfolding at Wells Fargo where 5,300 employees were fired due to phony bank accounts opened to “boost their sales figures and make more money” is not new in the financial world. Unscrupulous practices have occurred for years in varying degrees. In 1985, a just-fired employee at a New York-based […]
new york: the us government on Tuesday sued bank of the us for defrauding traders within the sale of $850 million in loan–subsidized securities in advance of the housing bust. The department of Justice civil grievance alleges financial institution of america lied to buyersapproximately the riskiness of the loan loans […]
Thirty-nine per cent net users are victims of ‘work from home’ fraud and 25 per cent have fallen prey to lottery scams even as 85 per cent of the country’s Internet user base are familiar with the term ‘Internet Scam’, says a study by Telenor. The multi-market survey conducted by […]
