False Accounting

Barclays sued by California utility over alleged electric market manipulation

A California water utility filed a class action lawsuit on Tuesday to recoup losses in the electric market that it blames on Barclays Bank Plc, which the U.S. government fined $453 million (£287 million) in 2013 for manipulating electricity prices
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Wells Fargo boss John Stumpf steps down

Wells Fargo's chief executive, John Stumpf, is to resign immediately in the wake of a scandal over its sales practices, the bank has announced. The bank is investigating how two million accounts were opened without customers' permission
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Wells Fargo chief forfeits $41m amid corruption probe

Wells Fargo chief executive John Stumpf will forfeit $41m (£31.5m) in bonuses as the bank tries to stem a scandal over its sales practices. The bank has launched an investigation how more than two million deposit and credit card accounts were opened without customers' permission.

Mazzette per gli appalti sui campi rom: arresti al Comune di Roma

Arrests for City of Rome employees and entrepreneurs involved in a case of corruption. An investigation by the prosecutor for bribes, which has no connection with the Mafia Maxinchiesta, and that concerns the management of some nomad camps in the capital. The system of bribes officials regard the social and health policy department of the municipality and dates back to the period between the end of 2013 and 2014 March.

Malaysia 1MDB investigation: US seeks to seize $1bn in assets

The US Department of Justice has moved to seize more than $1bn (£761m) from Malaysia's state fund 1MDB. The department alleges the funds were "misappropriated" and though it did not name Prime Minister Najib Razak directly, he is identifiable in the suit as someone whose account allegedly received huge sums. He has in the past denied wrongdoing.

US regulators investigate Fiat Chrysler sales reports

Fiat Chrysler is being investigated by US regulators over its reporting of quarterly and annual results. The Italian-American carmaker confirmed reports that both the Securities and Exchange Commission (SEC) and Department of Justice (DoJ) were undertaking investigations. Fiat Chrysler said it was cooperating fully with both agencies. The company said it "records revenues based on shipments to dealers", rather than direct sales to car buyers. Fiat Chrysler has reported record sales since 2014 when Fiat took full control of Chrysler. It reported a 7% rise in its monthly sales in June - its best result for that month since 2005. The company said it sold 2.2 million vehicles last year. However, its method of reporting revenue based on orders by dealers rather than purchases by customers has raised the interest of US regulators. Dealer lawsuit
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Libor rigging trial: Former Barclays bankers jailed

Four City traders have been ordered to serve jail sentences after being convicted of rigging The Libor rate. Jay Merchant was sentenced to six-and-a-half years, while Peter Johnson, who pleaded guilty, and Jonathan Mathew were each jailed for four years. Alex Pabon received two years and nine months. All four worked for Barclays.

KNAB un VID izp?ta inform?ciju par ?Panamas dokumentiem?, tiks sniegts zi?ojums vald?bai

The Corruption Prevention and Combating Bureau (KNAB) and the State Revenue Service (VID) in examining the information related to "Panama documents" will present a report to the government. There have been found also well known names form Latvia like Ventspils Mayor Aivars Lembergs, businessman Ainārs Gulbis and his son tennis player Ernests Gulbis, the airline "airBaltic" new investor German businessman Ralph Dieter Montag-Girmess and the founder of catering company "Lido" Gunārs Ķirsons and other.

Prokurorai nepalieka V. Uspaskicho ramyb?je

Prosecutor General‘s office of Lithuania has decided to appeal the Labour party „black accounting“ case on legal points and bring it before the court of cassation- Lithuanian Supreme Court. Prosecutors inquire if the the crime had been rightly classified as a provision of inaccurate data and not fraud, and other legal questions such as responsibility of a legal entity after its reorganisation.


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