Accounting fraud

Natural-food supplier that began a probe of its accounting practices last year, fell as much 15 percent after saying the U.S. Securities and Exchange Commission has opened a formal investigation into the matter.

Ex-American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg admitted to taking part in two deals to make the insurer’s financial condition look better than it was as part of a $9.9 million settlement with New York that has dragged out for almost a dozen years, the state’s top lawyer said.

Corrado Sciolla quits as the fallout from the British phone carrier’s Italian unit spreads.

Gavin Patterson sought to distance himself from an accounting scandal that’s rocked the U.K. phone company, pointing the blame squarely on a few rogue employees and removing the head of European operations.

Allegations of embezzlement at the telecommunications company’s Italian unit follow disclosure of a 530 million-pound writedown.

Seattle-based financial services company agrees to pay a $500,000 penalty to settle charges with the Securities and Exchange Commission that it improperly performed hedge accounting and later took steps to impede potential whistleblowers.

A medical device maker agrees to settles charges brought by the Securities and Exchange Commission that it improperly booked revenue and made improper payments to doctors at government-owned hospitals in Brazil to increase sales.

Kentucky-based wire and cable maker is resolving allegations by the SEC and the Justice Department that it violated internal control requirements and the Foreign Corrupt Practices Act.

In its annual report to Congress, the SEC acknowledged that fiscal year 2016 was historic for fraud tipsters.

The U.K. Serious Fraud Office dropped its case against former Tesco Plc group commercial director Kevin Grace without charges, a sign the prosecutor may be getting close to ending its probe into accounting practices that caused the grocer to overstate its profit by as much as 326 million pounds ($407 million).

The Securities and Exchange Commission said Thursday that its enforcement director, Andrew J. Ceresney, plans to leave the SEC by the end of the year.

An Upstate New York woman has pleaded guilty to embezzling at least $3.1 million from agriculture giant Cargill Inc., the Justice Department announced.

Vinci SA fell victim to a fake release claiming the French builder had fired its finance chief amid accounting irregularities, prompting the stock to plunge before the company denied the report.

The International Federation of Accountants has sent a letter to Pope Francis on how the accounting profession can help him with the fight against financial fraud and corruption.

LexisNexis Risk Solutions is highlighting International Fraud Awareness Week with a new public awareness campaign.

Deloitte LLP and firm partner John Clennett got a record fine in the United Kingdom for misconduct after the U.K.’s accounting regulator said the audit and financial statements of Aero Inventory Plc fell short of acceptable standards.

No business professional thinks they’re an easy mark, yet fraudsters are making off with millions of dollars each year.

More than 125 institutional investors sued Tesco Plc, seeking in excess of 100 million pounds ($122 million) over the U.K. grocer’s 2014 profit overstatement.

The Securities and Exchange Commission has charged PKF O’Connor Davies and one of its senior partners with issuing fraudulent audit reports on the municipal bond offerings of the town of Ramapo, N.Y.

The Four-Way Test shows GAAP-based financial reporting is unethical