Crime : Page 127

Former People's Insurance Company president sentenced to 11 years in prison

May 24, 2018 Wang Yincheng, former president of the People\'s Insurance Company (Group) of China Limited (PICC), was sentenced to 11 years in prison Thursday for accepting bribes of over 8.7 million yuan ($1.36 million).

Class action: SNC-Lavalin and its insurers to pay $110 million

May 23, 2018 The law firms of Siskinds and Rochon Genova announced the resolution of related shareholder class actions against SNC-Lavalin Group and certain of its former officers and directors for an all-inclusive payment of $110 million by SNC-Lavalin and its insurers.

Rabobank NA sentenced for conspiring to impair, impede, and obstruct its primary regulator

May 19, 2018 Rabobank National Association (Rabobank), a Roseville, California subsidiary of the Netherlands-based Coöperatieve Rabobank U.A., was sentenced by U.S. District Judge Jeffrey T. Miller of the Southern District of California.

Dutch Hema fined €4.5m for selling jeans which look too much like Levi’s

May 18, 2018 A court in Brussels has ordered Dutch retail chain Hema to pay a €4.5m fine for selling jeans that are too much like those made by Levi’s.

Massive luxury bags, jewelry seized in 1MDB probe, says Malaysian police

May 18, 2018 The Malaysian police seized 72 bags of jewelry, various currencies and another 284 boxes of luxury branded handbags after a search operation in relation to the 1MDB probe which was carried out at several premises involving former Prime Minister Najib Razak, reported the national Bernama news agency on Friday.

SEC charges three former healthcare executives with fraud

May 17, 2018 The Securities and Exchange Commission (SEC) announced fraud charges against three former Constellation Healthcare Technologies Inc. executives who falsified financial and other information they provided to a private firm in the course of negotiating the private firm’s acquisition of a majority stake in Constellation.

SEC charges owner of alternative investment firm in Belize airport financing scam

May 17, 2018 The Securities and Exchange Commission (SEC) charged the owner of a Manhattan-based alternative investment firm with misappropriating close to $6 million in investor funds earmarked to finance the construction of an international airport in Belize.

U.S. accusing Insys Therapeutics of promoting powerful opioid

May 16, 2018 On April 13, 2018, the United States intervened in five lawsuits accusing Insys Therapeutics of violating the False Claims Act in connection with the marketing of Subsys, an opioid painkiller manufactured and sold by Insys, the Department of Justice announced.

Seizure of $24,000 owned by brother of ex-bankruptcy manager of Rosneft subsidiary upheld

May 15, 2018 The Moscow City Court upheld a lower court’s ruling to seize 1.5 million rubles ($24,000) belonging to a brother of the former bankruptcy manager of a Rosneft subsidiary Oleg Smetanin charged with embezzling 300 million rubles ($5 million), RAPSI reports from the courtroom.

Barclays CEO Staley fined £642,430 over whistleblower case

May 11, 2018 The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have together fined James Staley, Barclays Group CEO, a total of £642,430.

Shipping company will pay $1 million fine for environmental pollution crimes

May 11, 2018 A Japanese shipping company that delivered steel products to Wilmington, NC, was convicted and sentenced for obstruction of justice and falsification of an Oil Record Book to cover-up intentional oil pollution from the m/v Atlantic Oasis.

RBS agrees to pay $4.9bn to settle U.S. mortgage securities case

May 10, 2018 Royal Bank of Scotland (RBS) has agreed to pay $4.9bn to settle a long running-investigation by the US Department of Justice into the bank\'s dealing in mortgage-backed securities before the financial crisis.