Prime Time Crime

  Corporate Scandals  page 2

Greed and Corruption



Global Meltdown


CNN Money: Corruption

BBC Indepth: Corporate Scandals


CEO, worker pay gap

An analysis of 5 years of financial reports from 10 of Canada's largest companies found that CEOs made an average of 227 times the average employee working for that same company. Top executives, including the CEO, made on average 106 times more than the company's average employee.  Over the 2012-2016 period, the gap widened in 6 of 10 companies surveyed.  (Huffington Post)

CEOs' pay increases

Tax loopholes

CEOs 2015 salaries

Where your money goes

Minimums for politicians who steal

Excessive taxes

Laffer curve

Paying for unelected spin doctors

Income gap growing

Middle class being hit

Top capturing growing share of total income

1% taking lion's share

86 have as much wealth as 11M 

Middle class dream a ' myth'

Marriage gap

Home affordability to deteriorate

BC families wealthiest

Tax bill up 1,787% since 1961

Debt passes $600B mark

Debt Clock   

New Year hikes hit paycheques

'Sneaky' tax hikes

Survey of financial security, 2012 

Executive excess 2012 

Average net worth up 7.7%

Median net worth rises


News Corp payout

LONDON - The British newspaper arm of Rupert Murdoch's News Corp has agreed to settle a string of legal claims over phone hacking.    (IOL)  

News payout  

Victims settle  

News phone hacking scandal  

Rupert Murdoch  

Quebec wants money

MONTREAL - Quebec's investment arm wants its money back from a US company that abruptly closed three Canadian call centres laying off more than 1200 workers.  (CBC)  


Nashville pulls deal  

Labour ministry investigating  


Investigating funding agreement

Travel insurance, isn't

EDMONTON - 2 seniors say they are 'devastated' after their travel medical insurance policy was cancelled, leaving them on the hook for almost $105,000 for a five-day hospital stay in Arizona.  (CBC) 

Travel insurance, isn't

Risky world

Another travel insurance failure

Travel insurance

One World Assist

Value of legalese

Travel insurance, isn't

Purchase requires diligence   


EU issues 'unsafe' airlines ban

Junior bankers laid off for cheating

NEW YORK - Goldman Sachs and JPMorgan Chase have sacked dozens of analysts in their New York office after discovering they cheated to pass basic math exams.  (Daily Mail)

Goldman Sachs

Merrill Lynch

Embarrassing documents

Screws the pooch


Trash empire falls

DETROIT - The FBI's mission to bring dirty politicians to justice in the suburbs set off a series of cascading events.  And dozens of communities learned that the bright red Rizzo trucks that pick up their trash will be no more.   (Detroit Free Press)

Corruption investigation
How Rizzo Services built a garbage empire
Canadian GFL Environmental completes its merger with Rizzo Environmental Services
GFL Environmental
Rizzo services 


US seeks bribe money

WASHINGTON - The US Justice Department is attempting to recover $34M, the cash value of shares Calgary-based Griffiths Energy used to bribe the Republic of Chad's former ambassador to the US and Canada.  In 2013, the former Griffiths Energy company pleaded guilty in court to bribing Chad diplomat Mahamoud Adam Bechir, 50.   (Global)  

Mahamoud Adam Bechir

FBI press release

Chretien played a key role

Company turned to law firm

Fine for bribing officials

Heenan Blaikie

Toronto law firms advised Griffiths on deal

Jean Chretien

Stephen Harper 

Harper takes job at law firm




OTTAWA - Nearly two-thirds of penalties levied by provincial securities regulators across Canada in the past 5 years have not been paid.  That means of the $444M in penalties levied, $285M has not been paid.  (CBC) 

Guilty of bid-rigging

OTTAWA - An Ottawa company has been fined $125,000 after pleading guilty to bid-rigging on federal real estate advisory contracts.  Corporate Research Group Ltd. pleaded guilty in an Ottawa court to a criminal charge of bid-rigging. (CBC)



SAN FRANCISCO - A US judge granted final approval to a $415M settlement that ends a high profile lawsuit in which workers accused Apple Inc, Google Inc, Intel Corp and Adobe Systems Inc of agreeing to avoid poaching each other's employees.  (Reuters)

US v. Apple

Apple conspired

Apple guilty

Apple conspired with publishers

Apple lead conspiracy

High-Tech Employee Antitrust Litigation


Lawsuit moves forward

NEW YORK - The Bank of China knowingly laundered money for various Islamic militant groups so they could get around transaction restrictions because of their label as a "terrorist organization" by the US government, a lawsuit by Israeli victims of suicide bombings claims.  (Fox)  

Development scandal

LONDON - The City of London Corporation has invested at least £100M ($160M) of public money in land purchases that opponents claim will enhance the value of neighbouring developments by the property company that employs the lord mayor.   (Guardian UK)  Michael Bear   Hammerson


IPO puts markets to shame

NEW YORK - Facebook's imminent stock sale risks putting public stock markets to shame. Investors will surely clamour for a piece of the social network. (Reuters)  MORE:  Facts learned from IPO paperwork     IPO not for the average Joe

Corruption charges

LONDON - Police allege that the payments were in connection with contracts with US aluminum maker Alcoa Inc., for supplies of alumina shipped to Aluminum Bahrain, a smelting company with a majority state ownership.   MORE:  Bahrain chases losses   



TURIN - A Swiss billionaire and a Belgian baron were found guilty and sentenced to 16 years each in prison by an Italian court in a groundbreaking trial over 3,000 alleged asbestos-related deaths. 

Strong’s protégé headed for jail

Quebec asbestos industry mulls convictions
Stephan Schmidheiny


OC in money markets

OTTAWA - Biker gangs and the Mafia are dabbling in Canada's money markets, according to a new report. (QMI)

Gas price fixing fines

THETFORD MINES - 7 people have pleaded guilty to conspiring to fix gas prices in Thetford Mines.   (CTV)


Contractors owed millions

CHARLOTTETOWN - A group of companies who built the new Holman Grand Hotel have filed liens against the building, with the company that built it having filed for creditor protection.   (CBC)  PREVIOUS:  Government loans $30M to Homburg companies   

Missing gold

TORONTO - The head of an insolvent mortgage company unloaded $2.2M in gold and silver from his car at a Rexdale parking lot at night, according to his own testimony, and handed it to a man who has since disappeared.  (Toronto Star)


Diamond 'cartel'

VANCOUVER - A BC court will hear a lawsuit accusing international diamond behemoth De Beers and other diamond producers of a conspiracy to fix prices for the precious jewels.   (CTV)

Hair-restoration scam

VANCOUVER - Ronald James Conn and his wife Sze Man "Ella" Conn were arrested after a lengthy investigation by the BC Security Commission's Criminal Investigations Team and the VPD.  (CTV)  


Debt resettlement warning

Canadian consumer groups are warning about Vortex Debt Group, a US based debt resettlement company that is now operating in Canada, following numerous complaints from consumers who allege they were left with less money and more debt.  (CBC)

Gold-refining tax scam

MONTREAL - The alleged network is accused of evading more than $150M dollars in provincial tax on $1.8B in sales revenue - and also cheating Ottawa out of its GST take.  (CTV)    MORE:  High profile gold trader probed   KITCO  

Losses for decades

TOKYO - Japan’s Olympus admitted it hid losses on securities investments dating back to the 1980s, bowing to weeks of pressure to explain a series of baffling transactions that have put the future of the firm in doubt.  (Reuters)    PREVIOUS:  Huge fees   Zooming in on the scandal   Michael Woodford  

Fraud allegations

VANCOUVER - The analysis, published on the blogsite, Alfred Little, accuses Silvercorp Metals Inc, a Vancouver-based company that operates two silver, lead, and zinc mines in China, of grossly inflating the value of its mining output in its reports to regulators.  (Tyee)  MORE:  Silvercorp stung by report   BC securities commission probe


Pharmaceutical ruling

OTTAWA - The Supreme Court of Canada issued a landmark ruling on what constitutes a corporate trade secret under the Access to Information Act. (CP)  

Don't drink and buy

LONDON - PVM Oil Futures trader Steve Perkins bought 7M barrels of crude in late-night trading binge on his laptop, driving the oil price to an eight-month high.   (Telegraph UK) 


Jail for stock fraud

HALIFAX - The former CEO of defunct tech firm Knowledge House has been sentenced to 5 years in prison, and the company's former lawyer to 4 and a half years, for a fraud the Crown estimated at $86M.  CEO Daniel Potter, 66, and lawyer Blois Colpitts, 55, were found guilty in March.  (CP)MORE:   Prison terms   Insiders guilty    Fraud charges 

UK halts chopper bids

LONDON - The British government has halted bidding for a $9.7B defence contract after a BC company was found to have sensitive information.  Britain's Department for Transport says police are investigating how the information found its way to CHC Helicopter of Vancouver.  (CP)  MORE:  Police probe irregularities


Price fixing cartel

BRUSSELS - The consumer products giants Unilever and Procter & Gamble have been fined 315m euros ($456M) for fixing washing powder prices in eight European countries.  It follows a three-year investigation by the European Commission following a tip-off by the German company, Henkel.  (BBC)

Fraud allegations

TORONTO - The OSC has made formal fraud allegations against Sino-Forest Corp and several of its former executives following nearly a year of investigations into the collapsed forestry firm.     PREVIOUS:  Trading halted   Execs ordered to resign

Shareholders pursue another claim

WINNIPEG - Crocus shareholder Bernie Bellan convinced some lawyers to file a class-action suit against Crocus Investment Fund officers and directors and some of its professional service providers several years ago.    PREVIOUS:  Crocus investment fund receiver   Commercial crime a Canadian growth industry

Fraud charges

EDMONTON - Following a two-year police investigation, a 36-year-old Edmonton businessman is facing 74 fraud and theft-related charges.  Vimal Iyer, who is the CEO of Trident Properties, is alleged to have promoted and sold undivided interests to 120 investors in three different land developments NE of Edmonton.   (CTV)  


Charges stayed

OTTAWA - An 8-year investigation into allegations of price fixing in the chocolate candy business has concluded after charges against Nestle Canada and a former executive were stayed.  No reason was given for the Crown's decision.  (AP)    

Price-fixing settlement

Guilty plea

Hersey pleads

Cadbury Adams the whistleblower


Chocolate conspiracy

Cadbury     Hershey

Nestle     Mars    


Judge rules for US Steel

HAMILTON - Ontario Superior Court Justice Herman Wilton-Siegel decided in favour of the Pittsburgh-based corporation on claims that the more than $2.2B it invested in the Canadian operations in Hamilton and Nanticoke are debts to be repaid, not cash infusions in the ongoing operation of the business.  (CBC)

Judge sides with US Steel

US Steel   Stelco

US Steel flag disappears

Ottawa to flex its muscles

US steel wants to suspend payments of benefits and property taxes

ON facing $400M bailout of US Steel pensions

CCAA Monitor - US Steel Canada


Online scalpers

TORONTO - An investigation tracked online ticket listings for the Toronto Blue Jays' 2018 home opener and found that the average price for online seats was 205% of face value - with the club getting a cut of each online sale.  (Toronto Star)

Competition ask to investigate

Class action lawsuit

Scalping suit filed

Live Nation



Plan to get $1B back

TORONTO - Premier Dalton McGuinty says he’s “all ears” to a proposal that could return $1B to Ontarians from the owners of Hwy 407.   (Star)

Insider says $1B can be recovered  

407 express toll road

OECD   OECD review: Toronto

Road tolls touted as cure 


Antitrust fine

BRUSSELS - EU regulators fined Google a record $2.7B, ruling that the search-engine giant violated antitrust rules for its online shopping practices.  The fine is the largest doled out by Brussels for a monopoly abuse case and follows a 7-year-long investigation.  (CNBC) 

European Commission press release

EU accused

EU accuses Google

Statement of objections

European Commission

Directorate-General for Competition 

Tax laws have been good for us


SCC dismisses appeal

OTTAWA - The Supreme Court of Canada has ruled that Ecuadorian villagers have the right to use an Ontario court to seek billions in environmental damages from oil giant Chevron.  The court has dismissed an appeal by Chevron to block the suit in Ontario.  (CP) 

2015 SCC 42

Chevron fined $8B by Ecuador     

US judge annuls ruling 

Court rules against Chevron

Fine imposed

Lago Agrio oil field

Amazonians sue Chevron

Chevron's man in Ecuador  


Total Chevron

Myanmar's junta

Junta siphons gas revenue offshore   

Chevron files RICO case

Generals pocket $5B


MI6 also handing out cash

KABUL - Mr Karzai declared handouts from the CIA and MI6 are an "easy source of petty cash" for his government as it attempts to seal alliances with powerful regional warlords and secure defections from the Taliban.   (Telegraph UK)  

Hamid Karzai 

Failed bank audit

Kabul Bank

Mahmud Karzai 

CIA buys trouble 

Secret US cash 'helped'

Outgoing ambassador slams corruption


Bronfman Jr convicted

PARIS - A French court has fined Warner Music Group CEO Edgar Bronfman Jr. $6.7M for misleading investors about the Vivendi media conglomerate when he was a top executive there. 

Misleading investors

Edgar Bronfman Jr

Jean-Marie Messier


AIG fraud payout

The US insurance giant AIG has agreed to pay $725M to settle a long-running fraud case against it.  The settlement is likely to be one of the biggest in US history, following a class action lawsuit led by 3 Ohio pension funds. (BBC)  

Probe of restaurant industry

OTTAWA - A two-year probe of the restaurant industry in Canada has uncovered at least $40M in "phantom" cash sales so far, says the Canada Revenue Agency.    (CP) PREVIOUS:  Automated sales suppression device 


Jailed in US

NEWPORT NEWS, Vr - 2 Canadian private eyes have been jailed in the US for bilking clients in an international scheme that involved bogus promises of offshore millions.  Cullen Johnson, 65, and Elaine White, 70, were first exposed in a Star investigation 5 years ago.   (Toronto Star)   

Couple sentenced



Private eyes nabbed

Faking bank records

Private eyes nabbed in Turks

Settlement, criminal charge

WASHINGTON - The US government announced a $1.2B settlement with Toyota Motor Corp. on Wednesday and filed a criminal charge alleging the company defrauded consumers by issuing misleading statements about safety issues in Toyota and Lexus vehicles.  (AP)      



Toyota heads to Hill with team of lobbyists

2010 Toyota vehicle recalls


Killed 'over submarine money'

CHERBOURG - A probe into the 2002 killing of 11 French engineers in Pakistan is focusing on France's failure to pay a commission for the sale of submarines to Pakistan. 

Political scandal  

2002 Karachi bombing  

Agosta submarine  

Jacques Chirac   Edouard Balladur  

Asif Ali Zardari  


Austria sues Airbus

MUNICH - Austria filed a lawsuit  against Airbus and the Eurofighter consortium, alleging wilful deception and fraud linked to a $2.1B order for Eurofighter jets in 2003.  The deal was controversial from the outset and allegations surfaced almost immediately after its announcement in 2003 that money was pocketed by politicians, civil servants and others via brokers for side deals accompanying the purchase.   (Reuters) 

Airbus group investigation   SFO  

Airbus Group   

Corruption investigation

WTO     Boeing

WTO panel report on Boeing dispute

WHO rules on plane dispute

EU loans to Airbus deemed illegal

EU loans to Airbus deemed not illegal 

EU: LCD price-fixing



VANCOUVER - BC firm Stave Lake Quarries and 2 individuals are facing a rare charge of criminal negligence in the 2007 death of Kelsey Anne Kristian, who was killed on her second day working at a quarry.  (CBC) 

Charges laid

3 charged    

Charges up to police

Scaffold collapses


Lawyers abandon injunction

LONDON - An MP revealed the report's existence to parliament, after the Guardian was hit with a "super-injunction" banning all mention of it and other UK media were then subsequently notified of, and therefore bound by it. (Guardian)

Corruption fears

Trafigura and the Probo Koala

2006 Cote d'Ivoire toxic waste dump


Minton report   .pdf  


Mine collapse

ORIENTALE PROVINCE - At least 60 miners have been killed after a shaft collapsed in a gold mine in NE Democratic Republic of Congo.  (BBC)   

Politics of the DRC

Child miners

Mining in the DRC

Battle of Goma


Judge backs RIM in patent battle

Research in Motion (RIM) said a US judge had ruled the company had not infringed on Mformation Technologies Inc's patent and overturned an award of $147.2M.   (Reuters)   PREVIOUS:  RIM hit   $77M charge   RIM faces record penalty   

Steel cartel fined

PARIS - The French competition council has fined 11 steel trading companies and units of producers a record $786.2M after a probe found a widespread cartel had fixed prices.  The fine is for companies including units of ArcelorMittal, Kloeckner and Descours & Cabaud.   (Reuters)  


Resellers to be fined

TORONTO - The board said it plans to issue a $200,000 fine to Toronto-based Universal Energy Corp and a $100,000 fine to Summitt Energy Management of Mississauga for making "false, misleading or deceptive statements to consumers."  (Toronto Star)   RELATED:  BC Natural Gas Marketers

Microtek's money

VICTORIA - A fish vaccine company that has had ongoing problems following animal care and other regulations at the University of Victoria was an early product of the school's efforts to commercialize its research.  (Tyee)   PREVIOUS:  Employees raised many alarms   Tainted water from UVic fish lab


Shell settles

Royal Dutch Shell has agreed a $15.5M out-of-court settlement in a case accusing it of complicity in human rights abuses in Nigeria.  . (BBC)   PREVIOUS:  Lawsuits against Royal Dutch Shell

Companies charged in deaths

EDMONTON - The charges are laid under the province's Occupational Health and Safety Act and involve Canadian Natural Resources Ltd., Sinopec Shangahi Engineering Company (SSEC) Ltd. and SSEC Canada Ltd.   (CTV)  


Probe launched

STOCKHOLM - Swedish anti-corruption agents are investigating allegations that pharmaceutical giant AstraZeneca influenced the awarding of this year's Nobel Prize in medicine.  (Toronto Star)  

'Paraffin mafia' fined

BRUSSELS - The EU Commission has fined nine firms a total of $948m for operating what it called a price-fixing "paraffin mafia". Fined are: US ExxonMobil; Repsol of Spain; Italy's ENI; Tudapetrol, Hansen & Rosenthal and RWE of Germany; France's Total; and MOL of Hungary. (BBC) 


Ponzi scheme

EDMONTON - Timothy (Tim) Ray Carruthers, 59, is facing charges after allegedly operating a Ponzi scheme valued at $5.5M for nearly a decade.  (CTV) 

Calgary Ponzi scheme

Mortgage company deceived investors  

Red Deer Ponzi scheme


Ponzi fraud

Man facing fraud charges 

Investors' cash

Follow the money

Richard Breeden

Madoff investment scandal

Woman admits to Ponzi scheme

177 investors caught in scheme

Ordered to pay

Carlo Ponzi

Ponzi scheme

Tech investors scammed

Accused of fraud    Lawsuits  

Employees haven't been paid 

11 years for Ponzi scheme

Financial planner charged

Coast Capital Savings

Winners become losers  

'Magic Lady' fined   

22 years

Canadian sentenced

Fined $33M 

W5:  Who is protecting your investments? 

Banned for life

Investors wouldn't get back much

Financial 'guru' kills self 

Death adds to mystery 

BCSC Hearing details


12 years

Found guilty

Gary Sorenson

Found guilty in Ponzi case  

Broker pyramid scheme

2 charged 


Where the bribes are

Lou Pearlman

Pearlman sentenced to 25 years


Scott W Rothstein  

Guilty in Ponzi scheme  

Now in Canada

Millennium Bank Receivership 

Indicted by US authorities

One big lie  

BCSC press release

Corporate insolvency documents

Woman ran a Ponzi scheme

Former OHL team owner accused

Couple indicted

Ex-NASDAQ chair arrested on fraud charge


SEC shuts down Ponzi scheme

Ponzi scheme

Ponzi scheme

TD order to pay 

Lawyer's scheme busted

Hiring city officers for protection

Jaw-dropping incompetence

Investigation botched

Even $50B number fiction

'Honorable man'

'It's a very violent crime'

Global oil scam 50 times bigger than Madoff

Associate found dead    Jeffry Picower

Bernard L. Madoff

"Whole government is a Ponzi scheme"  

Madoff had steady presence in Washington

'Victims' likely to be sued

Half of accounts show no loss

Wife withdrew walk around money


Loan shop files for bankruptcy

Alleged Ponzi scheme

BNP Paribas

Mounties break Ponzi scheme

Lobbyist blitz 

Investigation of failure   .pdf  

Calgary Ponzi probe

Shire International Real Estate Investment

OSC investigating Ponzi scheme

Investor 'king' admits sin, but denies stealing  

Celebrities lose out

110 year sentence

110 years

Drug informer role claim

Madoff client list released

Madoff victims list

'The sharks are circling'

Billions ‘gone to money heaven'

Massive Ponzi scheme

SEC charges Bernard L. Madoff

Arrest made, bail granted

1,000 victims  

Charges in Ponzi scheme

Ottawa-provinces face off over pensions

Earl Jones  

Jones scared, may need protection

Out on bail

Money manager under investigation

Canadian securities regulation

Allen Stanford

Executives indicted

Stanford surrenders to federal agents

Lawyer blames SEC

FBI finds Stanford

Bill died in committee

Clients in limbo

Latin Americans fret as crisis spreads

Texas billionaire charged

Millions On Lobbying

Police search for suspect  

Regulators scrap changes to rules

Full parole

Quebec announces measures 


Potash settlement

SASKATOON - The 3 biggest SK potash producers have settled antitrust lawsuits in the US, but deny they did anything wrong.  The settlements are subject to court approval.  (CBC)

Potash Corp

Mosaic Co




License under review

TORONTO - The Ontario government will try to revoke the licence of Cash Store Financial Services, one of the biggest cash advance stores in the country.    (CBC) 

Cash Store Financial Services

Victims get $100M

Class-action in court


$264M to settle

NEW YORK - US bank JP Morgan Chase is to pay $264M to settle claims it hired the children of highly placed Chinese officials to gain business in China.  The bank will pay the SEC $130M for violations under the Foreign Corrupt Practices Act.  It is also expected to pay $72M to the US Justice Department and $61.9M to the Federal Reserve Board of Governors.   (BBC)


SEC press release

DOJ press release

JP Morgan Chase

Power Market manipulation

FERC press release

JP Morgan faces $20B fraud suit  

Another legal bomb

$2.43B to settle

Bank of America   

This will teach them

JPMorgan Chase

Bear Stearns

Lehman Brothers


Jamie Dimon



State secret released 

OTTAWA - The head of Canada's financial crime watchdog agency (FINTRAC) is second-guessing his decision last year to withhold the name of a bank - which CBC Investigates has identified as Manulife Bank of Canada - fined $1.15M for not reporting hundreds of transactions it was obligated to report under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.    (CBC) 

Another secret

Bank penalty

FINTRAC secrecy paints all banks dirty


NY lawyer gets bail

Dreier charged for impersonating

Lawyers above the law

2015 SCC 7  

SCC removes power to search law firms

Lawyers don't have to divulge clients' secrets

Parts of law ruled unconstitutional

Marc Dreier

Lawyer gets 20 years

Anatomy of a crack-up

Evicted and abandoned

WASHINGTON - For more than three decades, the World Bank has maintained a set of 'safeguard' policies that it claims have brought about a more humane and democratic system of economic development. Governments that borrow money from the bank can't force people from their homes without warning.  (Huff Post)  

World Bank
World Bank's broken promise  
WB using US funds to boost Iranian industry

Paul Wolfowitz  

World Bank scandal

Cyber security questions at World Bank



NEW YORK - Offshore drilling contractor Transocean Ltd has agreed to pay $1.4B to settle US government charges arising from BP Plc's massive Macondo oil spill in the Gulf of Mexico in 2010.  (AFP) 

Deepwater Horizon oil spill

OSHA issues record breaking fines

Total clear in French explosion

2001 Toulouse chemical factory explosion

Guilty plea in UK explosion

2005 Hertfordshire oil storage terminal fire

Total found guilty in oil spill case

Scandal of the Erika

Texas City refinery explosion

Big bucks in fees

Global airlines are expected to earn a record $82B this year by charging customers extra for everything from seat assignment to baggage fees to travel commissions.  And Air Canada is among the top ten airlines in the world when it comes to earning this so-called ancillary revenue, racking up nearly $1.18B last year, according to reports from IdeaWorksCompany, a company that tracks airline revenue.   (CBC)  

2017 Global estimate   .pdf 

Airlines' percentage of upgrade tax

Bill C-49   

New rules

Railway union vows to fight recorders

Bill protects airlines

Class-action lawsuit

Proposed class action lawsuit

Class action lawsuit

US civil anti-trust action 

Brussels to probe 7 airlines

One World

Star Alliance

US Justice Department

Airlines fined $504M

Air Canada charged


Success fees

MONTREAL - Canadian transport giant Bombardier has won hundreds of millions in international contracts to supply transit systems across the world. But a year-long Globe and Mail investigation reveals a pattern of middlemen, 'success fee' payments - and allegations of corruption.  (Globe & Mail)    

Bribery probe   Azerbaijan

Employee arrested

Problems with corporate welfare

Corporate welfare trap  

Corporate welfare


London's signal failure

Air Canada to buy aircraft

Brazil corruption probe





Federal loan

Another state secret

Bombardier cutting 7,000 jobs

Bombardier thanks Canada for $1B bailout

Suppressing government funding info 

Feds study Bombardier request for a bailout

Bombardier's $1B bailout

Bombardier loses $4.9B in 3rd quarter

TTC to sue Bombardier

Bombardier's bailout

$1B cement project

Bombardier is a mess

Bombardier accused 



Bombardier involved in a cartel? 

Estado de Sao Paulo   


Glass cartel fined

BRUSSELS - Four car glass makers have been hit with the European Commission's largest cartel fine after being found guilty of "cheating" car buyers.  Asahi Glass, Pilkington, Saint Gobain and Soliver have been ordered to pay 1.38bn euros ($1.73B). (BBC)   PREVIOUS:  Glass makers fined  

Watchdog probing chocolate price fixing   


Dunlop Oil & Marine

Yokohama Rubber Company


Corporate fraudsters placed on notice

TORONTO - The jail sentences handed down to Livent founder Garth Drabinsky and Myron Gottlieb, his long-time business partner, show Canadian courts are getting tougher on white-collar crime, observers say.  However, one US lawyer suggested that the actual jail time that the two men may serve - less than two years before they are eligible for probation - still sends the wrong signal.  Both were released in the afternoon, on bail of $350,000 each, pending appeal.  (Toronto Star) 


White collar prison term

Guilty of 2 counts of fraud

Garth Drabinsky

The rise & fall of Garth Drabinsky

Guilty of fraud


'Everyone' cooks books  

Livent founders scammed half a billion dollars


ESL teachers left in limbo in Japan

TOKYO - An estimated 4,000 foreign teachers, including about 660 from Canada, are without jobs after Japan's largest school chain, Nova Group, closed its 900 schools and declared bankruptcy yesterday. (Toronto Star)  

Former CEO to forfeit $52M

DENVER - A federal judge ordered former Qwest Communications chief executive Joseph Nacchio, convicted of insider trading, to forfeit $52 million in assets he gained in illegal stock sales.  (AP)  PREVIOUS:  The Joe Nacchio trial


CEO resigns

LONDON - The chief executive of mining giant Rio Tinto has resigned after the company announced a $14B write-down.  The company's aluminum assets saw a write-down in the range of $10B-$11B. This is largely related to the company's purchase of Canadian aluminum giant Alcan in 2007.   (BBC) 

Tom Albanese  

2009 BCCA 0067

2007 electricity purchase agreement   .pdf    

Rio Tinto Alcan

BC Utilities Commission

Caifunds Special Investors

Rio Tinto


Jim Cramer: Here's how to cheat

NEW YORK - Stock market commentator and CNBC television host Jim Cramer  has raised eyebrows after describing illegal activities used by hedge fund managers to manipulate stock prices.  (Reuters)   MORE:  Jim Cramer backpedals 

Yahoo in China human rights case

A human rights group in the US is suing Yahoo for alleged complicity in rights abuses and acts of torture in China.  The World Organization for Human Rights says Yahoo's sharing of information with the Chinese government has led to the arrests of writers and dissidents. (BBC)


The Siemens scandal

FRANKFURT - When Siemens, Europe’s biggest engineering firm, adopted the slogan “be inspired” in the mid-1990s, bribery was not what it had in mind. But no one can accuse its managers of lacking inspiration when it came to devising novel ways to funnel huge sums in backhanders to corrupt officials and politicians across the globe.  (Economist) 


Ex-boss arrested

Where bribery was just a line item

Boss admits setting up slush funds


Battle comes to an end

CALGARY - Years of court battles led by investors trying to recover billions of dollars lost in the Bre-X scandal came to an end in Calgary.   (CBC)  

Request from bankruptcy trustees



Fiat Chrysler recall

DETROIT - The US National Highway Traffic Safety Administration (NHTSA) fined automaker Fiat Chrysler (FCA) a record $105M for poorly executing 23 vehicle safety recalls covering more than 11M defective vehicles over several years.  (AP)  



Magna International

Belinda Stronach

NHTSA enforcement action

Historic settlement  


Planes still flying with same problem

Ten years after the explosion of TWA Flight 800, the very problem that led to the disaster still has not been fully fixed -- despite a warning from the Federal Aviation Administration that it is "virtually certain to occur" again without additional safeguards.  (CNN)

Martha Stewart settles SEC charges

NEW YORK - The Securities and Exchange Commission said Monday that it has agreed to settle insider trading charges against Martha Stewart and Peter Bacanovic relating to Stewart's sale of ImClone Systems stock in December 2001.   (CNN Money)


Online gaming indictment

MARYLAND - A federal grand jury in the US has indicted four Canadians who operated the popular online gaming company, accusing the company of conducting an illegal sports gambling business and conspiring to commit money laundering.  Charged are Canadian billionaire and Bodog founder Calvin Ayre, along with James Philip, David Ferguson and Derrick Maloney.  (PostMedia)  

Ayre’s statement   

US sports betting   

Poker face off  

Gaming lobbying  

Calvin Ayre  

2006 SAFE Port Act add-on law Unlawful Internet Gambling Enforcement Act of 2006   


Microsoft fined

BRUSSELS - The EU Commission has fined Microsoft Corp. $733M for breaking the terms of an earlier agreement to offer users a choice of internet browser.  (AP) 

Expensive error

Microsoft is accused by EU again

EU Microsoft antitrust case

Court Dismisses appeal

Deal in EU Microsoft antitrust case


Windows Vista

New Coke

Operating system

Secrets behind 'viral' videos 

Media manipulation

Microsoft admits theft from Canadian company

Toxic cleanup

When Nortel Networks Corp. slipped under a dark cloud of bankruptcy protection in Jan 2009, concerns turned first to the people who'd lost money and the financial catastrophe that would ensue.  But the company also left a legacy of environmental damage across ON, and taxpayers could end up paying to clean them up.   (CBC)  

Bankruptcy has been good


'Jackals over the carcass'

Bankruptcy hearings

$7.3B up for grabs    



Nortel site symbolizes military challenge

Bankruptcy czars ask to investigate fees 

$755M bankruptcy litigation 

Canadian politics would kill any potential sale

Ex-Nortel execs charged

Frank Dunn

OSC approves Nortel deal


Not guilty

Execs acquitted 

Legal cash cow

Ex-AIG chief shorted foundation

ALBANY, N.Y. - New York Attorney General Eliot Spitzer on Wednesday accused embattled insurance executive Maurice R. “Hank” Greenberg of participating in a series of financial transactions 35 years ago that cost the charitable foundation of his mentor $6B.  (AP) 


Marsh pays $850m to end charges

NY AG sues Marsh over Commissions

Spitzer widens insurance probe

Cruise line tired to seal records

SEATTLE - Holland America went to "significant lengths" to keep secret damaging documents discovered by the families of Washington state residents who were killed in 2001 on a flight arranged by the cruise company, the families' lead attorney, Bradley Keller, said.  (Seattle Post-Intelligencer)

Dutch brewers fined over cartel

Dutch brewers including Heineken and Grolsch have been fined a total of 273.7m euros by European regulators for price fixing.  The European Commission has penalised Heineken, Grolsch and Bavaria for stifling competition by sharing pricing policy and levels.  (BBC)   RELATED:  More dangerous goods banned in EU


Halliburton, KBR settle allegations

HOUSTON - Halliburton and Kellogg Brown & Root (KBR) have agreed to pay $579 million in fines related to allegations of foreign bribery, the biggest fines ever paid by US companies in a foreign corruption case, federal authorities and the companies said yesterday.  The SEC and Department of Justice alleged that Houston-based Halliburton and KBR were part of a joint venture that spent $182M to bribe Nigerian government officials over a 10-year period to win more than $6B in construction contracts.   (Washington Post)   


Halliburton Watch

FBI investigates Halliburton complaint

Audit faults Halliburton billing

Halliburton faces criminal probe

Halliburton grilled over meals

Halliburton in Iraq kickback flap

Halliburton loose with $


Halliburton's Chairman/CEO 1995-2000 

     16 Charged in Parmalat Scandal

MILAN - A Milan judge has formally charged Parmalat founder Calisto Tanzi, 15 other executives and three financial institutions over their role in the scandal that plunged one of Italy's best-known brands into insolvency. (Fox News)   

Parmalat founder to stand trial

Parmalat to sue Bank of America

Parmalat debt grows to 14bn euros

Parmalat funds siphoned by Tanzi

Parmalat in bankruptcy protection


Italians held in EU fraud probe

BRUSSELS - Three Italians, including an EU official, have been arrested and held in custody as part of a European Commission corruption probe.  On Tuesday, European police raided the European Commission and Parliament.    (BBC)  PREVIOUS:  EU officials 'siphoned millions'   Guardian: Anatomy of a scandal

Kozlowski gets up to 25 years

NEW YORK - Ex-Tyco CEO Dennis Kozlowski received 8-1/3 to 25 years in prison Monday for his part in stealing hundreds of millions of dollars from the manufacturing conglomerate.    (CNN)   PREVIOUS:  Jury: High-living CEO pillaged Tyco    Tyco two guilty of stealing $150m   Judge declares mistrial in Tyco case


Canadian securities industry

Class Advocate

Small Investor Protection Association

Classic Financial Scandals


Prime Time Crime

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