Corporate Corruption

A4e scandal highlights looting of UK social spending by private companies

By Julie Hyland, 1 March 2012

The scandal surrounding the welfare-to-work firm A4e (Action for Employment) has again exposed how large swathes of public funds have been handed over to private corporations, under both Labour and the Conservative-Liberal Democrat coalition.

Corzine resigns from MF Global amid mounting probes

By Bill Van Auken, 5 November 2011

Jon Corzine, the former New Jersey Democratic senator and governor, resigned as CEO of MF Global, amid multiple probes into possible criminal violations at the bankrupt investment firm.

Former billionaire hedge fund manager convicted of insider trading

By Bill Van Auken, 13 May 2011

The conviction of former hedge fund manager Raj Rajaratnam on insider trading charges does not even touch upon the rampant financial swindling that produced the economic meltdown of 2008.

Madoff lawsuits charge JPMorgan and HSBC with complicity in Ponzi scheme

By Andre Damon, 18 December 2010

Two years after the arrest of Bernard Madoff, ample evidence has emerged that a number of major financial institutions profited from and knowingly facilitated his Ponzi scheme.

First arrest in high-profile insider trading investigation

By Andre Damon, 27 November 2010

The US government has arrested an investment research firm employee in the first charge related to an ongoing federal insider trading investigation.

Supreme Court agrees to hear appeal of Enron’s Jeffrey Skilling

By Joe Kishore, 16 October 2009

The decision by the US high court to hear the Skilling case indicates that it is considering curtailing use of the “honest services” law to prosecute corporate fraud.

The Enron verdicts: corruption and American capitalism

By Joe Kay, 29 May 2006

The guilty verdicts handed down by a Houston jury last week against former Enron chiefs Kenneth Lay and Jeffrey Skilling provide an opportunity to evaluate the significance of the company’s rise and fall within the context of American capitalism.

Former CFO testifies in Enron case

By Joe Kay, 10 March 2006

Former Enron chief financial officer Andrew Fastow continued testimony on Thursday in the trial of the company’s former CEO Ken Lay and former president Jeffrey Skilling. Fastow testified that Lay and Skilling were personally involved in the various illegal activities, accounting manipulations, and fraudulent statements for which Enron has become notorious.

Enron tapes expose blatant criminality of corporate America

By Rafael Azul, 15 June 2004

The recent release of transcripts of taped conversations among Enron electricity traders in the summer of 2001 reveals that company insiders not only knew they were stealing from California and other states, but gloated about it. The partial release of thousands of hours of tapes is a powerful indictment of the energy companies that looted California and Washington of close to $11 billion, with the support and assistance of government officials.