Search results for: Fraud

317 results

A list of search results

  • 27 July 2016
    Business & Finance

    The former Chief Executive Officer of Daewoo Shipbuilding & Marine Engineering (DSME), Ko Jae-ho, has been formally accused of taking part in an accounting fraud worth KRW 5.4 trillion (USD 4.6 billion), according to Yonhap News Agency. South Korea’s prosecutors are charging Ko Jae-ho with fraud, breach of trust, and violating the Financial Investment Services and Capital Markets […]

  • 29 July 2016
    Business & Finance

    South Korean shipbuilding major Daewoo Shipbuilding and Marine Engineering (DSME) said that an order worth KRW 1.58 trillion (USD 1.42 billion) has been cancelled. According to the company’s stock exchange filing, the order was for one fixed oil production platform, placed in 2013 by a European shipowner. DSME added that the termination is not expected to have an […]

  • 8 July 2016
    Business & Finance

    The former Chief Executive Officer of Daewoo Shipbuilding & Marine Engineering (DSME), Ko Jae-ho, was called in for questioning as part of an accounting probe into the financials of the South Korean shipbuilder, according to The Korea Times. Ko Jae-ho, who was at the helm of the company in the period from 2012 to 2014, is one […]

  • 18 January 2017
    Business & Finance

    Ko Jae-ho, the former head of the ailing South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME), has been sentenced to 10 years in prison by a lower court in Seoul over accounting fraud, Yonhap News Agency reports. The Seoul Central District Court found Ko, who held the position of DSME’s President and CEO from […]

  • 31 May 2006

    Kim Woo Choong, the Daewoo Group founder who surrendered to authorities after six years on the run, was today sentenced to 10 years in prison for his role in a $42 billion fraud. Kim, 69, who arrived at Central District Court in an ambulance, will remain hospitalized unless he recovers from illnesses including heart disease, […]

  • 14 July 2016
    Business & Finance

    The former Chief Financial Officer of the financially troubled Daewoo Shipbuilding & Marine Engineering (DSME) has been charged with taking part in the company’s accounting fraud worth KRW 5.4 trillion (USD 4.6 billion), according to Yonhap News Agency. Identified only by his surname Kim, the CFO was allegedly involved in the fraud during the period between […]

  • 21 August 2015
    Business & Finance

    Shipbuilding conglomerate Daewoo Shipbuilding and Marine Engineering (DSME) is facing a lawsuit on the grounds of an alleged fraud against individual investors. Namely, South Korean law firm Hannuri Law has revealed plans to file a joint lawsuit in September against the shipbuilder and Deloitte Anjin accounting firm on behalf of retail investors, who are reported to have […]

  • 14 August 2015
    Business & Finance

    Finnish port automation solutions provider Konecranes has reported that one of its foreign subsidiaries has become the victim of a fraud. Konecranes says that the perpetrators have through identity theft and other fraudulent actions managed to induce the subsidiary to make unwarranted payments in a total amount of up to EUR 17.2 million (USD 19.2m). Konecranes […]

  • 8 April 2011

      Hagens Berman LLP, a nationwide, investor-rights law firm, investigates Hercules Offshore to determine if the company violated securities laws after the announcement of a Securities and Exchange Commission (SEC) investigation of certain of the company’s activities. Hagens Berman partner Reed R. Kathrein is leading the firm’s investigation from its San Francisco office. Houston-based Hercules […]

  • 21 August 2015
    Business & Finance

    Shipbuilding conglomerate Daewoo Shipbuilding and Marine Engineering (DSME) is facing a lawsuit on the grounds of an alleged fraud against individual investors. Namely, South Korean law firm Hannuri Law has revealed plans to file a joint lawsuit in September against the shipbuilder and Deloitte Anjin accounting firm on behalf of retail investors, who are reported to have […]

  • 4 March 2016
    Business & Finance

    Danish Public Prosecutor for Serious Economic Crime (SØK) has filed criminal charges against several individuals employed at bankrupt OW Bunker under suspicion that they committed fraud, Mikkel Thastum, a spokesman for the prosecutor’s office, confirmed. The individuals targeted by the charges include OW Bunker CEO Jim Pedersen, the company’s former CFO, Morten Skou, and Lars Moller, former CEO of OW […]

  • 19 July 2016
    Business & Finance

    Three more institutional investors have filed lawsuits against the South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering (DSME) over the KRW 5.4 trillion (USD 4.6 bilion) accounting fraud, The Korea Herald reports. Government Employees Pension Service and Teachers’ Pension filed the lawsuit against the company for compensation of some KRW 22 billion (USD 19 million). In […]

  • 25 October 2018

    Former executives of now-defunct oil company Afren were found guilty of fraud and money laundering offenses from which they personally received more than $17m and laundered $45m

  • 8 March 2013
    Authorities & Government, Business & Finance

    On March 5, police searched the headquarters of the German wind developer Windreich, which is under investigation by the Stuttgart Public Prosecution Office, Frankfurter Allgemeine Wirtschaft reports. The Stuttgart Prosecution Office is investigating the wind farm developer, suspected of balance sheet manipulation, investment fraud, market manipulation and credit fraud. About 35 officers from the Office […]

  • 14 August 2015
    Business & Finance

    Finnish port automation solutions provider Konecranes has reported that one of its foreign subsidiaries has become the victim of a fraud. Konecranes says that the perpetrators have through identity theft and other fraudulent actions managed to induce the subsidiary to make unwarranted payments in a total amount of up to EUR 17.2 million (USD 19.2m). Konecranes […]

  • 9 November 2014
    Business & Finance

    MS Marco Polo Runs Aground in Norway Cruise ship MS Marco Polo has run aground with 750 passengers on board while manoeuvring to anchor near Leknes in Norway’s northern Lofoten Islands.…Read more VIDEO: Panama Canal Pilots Voice Navigation Concerns The long-awaited expansion of the Panama Canal has taken a somewhat different course from that initially […]

  • 12 July 2017

    The UK Serious Fraud Office has launched an investigation into Amec Foster Wheeler, a UK engineering company set to be acquired by the oilfield services giant Wood Group. In a statement on Tuesday, Amec Foster Wheeler said it was informed by the SFO that it “has now opened an investigation into Amec Foster Wheeler, predecessor […]

  • 24 February 2015

    A North Carolina resident was arrested yesterday for allegedly making a fraudulent claim on the fund set up to compensate victims of the 2010 Deepwater Horizon oil spill, announced Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division. According to the Justice Department, Michael R. Rosella, 45, of Wilmington, North Carolina, was […]

  • 16 March 2015
    Business & Finance

    International Transport Intermediaries Club (ITIC) says fraudulent diversion of funds is on the increase in the maritime sector. Having previously issued a warning about the fraudulent diversion of port expenses, ITIC says it is now seeing evidence of similar frauds being perpetrated across the wider marine industry. In a typical such fraud, the party due […]

  • 31 October 2014
    Business & Finance

    Seoul Central District Court  has sentenced Kang Duk-soo, the founder and the former head of South Korea’s shipping and shipbuilding conglomerate STX Group, to six years in prison for a number of corporate crimes, Yonhap reports. Kang Duk-soo, who headed the group from 2003 to February 2014, was convicted of illegally diverting funds of the group’s […]

  • 23 March 2018
    Business & Finance

    Chairman resigns to “to mitigate against further repercussion”and “to diffuse the misinformation that is circulating currently.”

  • 19 December 2014
    Business & Finance

    Former global manager of the bankrupt marine fuel supplier OW Bunker Lars Bohn has been arrested in Denmark. Danish newspaper Borsen quoted the prosecutor’s office as saying on Thursday that Bohn is wanted in Italy where he is suspected of fraud adding that he will be extradited to Italian authorities for further prosecution in a few weeks. According […]