Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 2, 2008 8:51:24 AM CST


wire fraud

wire fraud news stories

4 Stories

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 later today in a collapse that cost investors $1.6 billion, the Wall Street Journal reports. More »

More about:  Financial Crisis Bear Stearns hedge fund indictment securities fraud wire fraud

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 plans to meet with Renzi, the Chicago Tribune reports. More »

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 would be the first step in ending their "ordeal." More »

More about:  sentencing extradition Enron wire fraud

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' tricks: Apparently bills marked "priority" were paid automatically. More »

More about:  Pentagon money laundering wire fraud

4 Stories

Today's Most Popular

Loading...

Premium Articles from HighBeam

Find more articles like this

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »