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New York cops among 106 accused over 9/11 fraud

Former New York police officers and firefighters were among 106 people indicted on Tuesday over a "massive fraud" worth hundreds of millions of dollars, some in connection with the September 11 attacks. The accused allegedly collected tens of thousands of dollars a year in Social Security benefits -- funded by taxpayers -- by claiming they were completely incapacitated by serious psychiatric disorders and other ailments.

New York cops among 106 accused over 9/11 fraud

Prosecutors indicted 106 people Tuesday, including former New York police officers and firefighters, over a "massive fraud" worth hundreds of millions of dollars, some in connection with the September 11 attacks. The accused allegedly collected tens of thousands of dollars a year in social security benefits -- funded by taxpayers -- by claiming they were completely incapacitated by serious psychiatric disorders and other ailments.

New York cops among 106 accused over 9/11 fraud

Prosecutors indicted 106 people Tuesday, including former New York police officers and firefighters, over a "massive fraud" worth hundreds of millions of dollars, some in connection with the September 11 attacks. The accused allegedly collected tens of thousands of dollars a year in social security benefits -- funded by taxpayers -- by claiming they were completely incapacitated by serious psychiatric disorders and other ailments.

Arrest warrant sought for Tong Yang Group chief for fraud

SEOUL, Jan. 7 (Yonhap) -- Prosecutors said Tuesday they have sought an arrest warrant for the head of embattled Tong Yang Group for fraud and malpractice in issuing and selling financial products. The 65-year-old Chairman Hyun Jae-hyun is accused of leading the issuance of fraudulent corporate bonds and commercial paper worth over 2 trillion won (US$1.86 billion) since around 2007 and deliberately filing for court receivership of its five affiliates last October, inflicting heavy losses on investors and firms.

Arrest warrant sought for Tong Yang Group chief for fraud

SEOUL, Jan. 7 (Yonhap) -- Prosecutors said Tuesday they have sought an arrest warrant for the head of embattled Tong Yang Group for fraud and malpractice in issuing and selling financial products. The 65-year-old Chairman Hyun Jae-hyun is accused of leading the issuance of fraudulent corporate bonds and commercial paper worth over 2 trillion won (US$1.86 billion) since around 2007 and deliberately filing for court receivership of its five affiliates last October, inflicting heavy losses on investors and firms.

Victims of financial fraudster in Montreal getting their compensation cheques

MONTREAL - Victims of a financial fraudster in Montreal should be getting their compensation cheques in the next few days. Earl Jones was sentenced in February 2010 to 11 years in prison for defrauding clients over a 25-year period. He was arrested in July 2009 after the pyramid-scheme fraud was discovered. The estimated amount of the fraud changed as accountants took a closer look at the books. Jones pleaded guilty to defrauding 158 investors of a little more than $50 million _ a dollar amount that was initially pieced together by the bankruptcy trustee.

Rolls-Royce says facing formal bribery probe

Engine maker Rolls-Royce said on Monday that Britain's Serious Fraud Office had launched a formal investigation into alleged bribery linked to the group's overseas operations. It comes one year after the British company warned that it might be prosecuted over alleged "malpractice" in Indonesia and China after passing on information related to bribery concerns to the office.

Star wine dealer guilty in New York fraud trial

Star wine dealer Rudy Kurniawan was found guilty in US federal court Wednesday of fraud by blending fake vintage wines. The jury took no time to return a guilty verdict on two counts of wire and postal fraud against the 37-year-old, born in Indonesia and once considered one of the top five collectors in the world. bd/jm

Court denies arrest warrant for Hyosung Group chief

SEOUL, Dec. 19 (Yonhap) -- A Seoul district court on Thursday denied an arrest warrant for the head of a major family-run conglomerate suspected of creating large amounts of slush funds and evading taxes. Hyosung Group Chairman Cho Suck-rai, who underwent questioning by prosecutors twice last week, is facing multiple charges, including embezzlement, tax fraud and breach of trust, prosecutors said.

Wine fraud trial wraps up in New York

The trial of wine dealer Rudy Kurniawan concluded in New York on Tuesday with vigorous arguments from the defense claiming he never meant to deceive anyone in blending fake vintages. The 12-person jury will start their deliberations Wednesday on whether the 37-year-old, once one of the top five wine collectors in the world, is guilty or innocent of fraud. Prosecutors say Kurniawan, whose 10-year career crashed and burnt with his arrest in 2012, is an arch liar motivated by greed who made millions selling fake vintages blended at home.
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