Aug 2, 2012 | Accounting Frauds
Oki Electric Industry, the maker of ATMs, telecommunications equipment and printers, suspended its Managing Director of its Spanish printer making entity Oki Systems Ibérica S.A.U. amid accounting probe. The MD allegedly overstated the Spanish unit’s accounts...Jul 18, 2012 | Accounting Frauds
The futures brokerage firm Peregrine Financial Group has filed for Chapter 7 protection, after its founder attempted suicide and amid allegations of fraud. It is alleged that more than $200 million had gone missing at the commodities brokerage. In his suicide note,...Mar 27, 2012 | Accounting Frauds
XM Satellite Radio lost $900,000 of company funds in a case of embezzlement by a former employee. Valencia Person an employee of XM Radio colluded with Brenda Jones another XM Radio employee to defraud the company. The two diverted a couple of dozen payments that were...Mar 28, 2011 | Accounting Frauds
Weatherford International Ltd, a Geneva based oilfield services and equipment company, announced that it will be restating its results back to 2007 and delay the 2010 annual report. The delay the company said is due to tax accounting errors stemming from failure of...