A federal jury convicted three former employees of a General Electric Co. unit for their role in an alleged bid-rigging conspiracy the government said deprived municipalities of competitive investment returns.
Thousands of American Airlines employees unknowingly became the targets of a multi-million dollar insurance fraud scheme carried out by a father-son duo who claimed to provide the airline workers with free hearing aids for simply taking a test.
This week, a federal grand jury in American’s home base of Dallas indicted the duo on several charges related to the $16.7 million alleged insurance fraud scheme.
MONTREAL — McGill University Health Centre executive director Arthur T. Porter soaked up accolades after informing his board of directors in 2009 that all was in order to announce the winning bidder to build a new super-hospital. The board chairman, Senator David Angus, “praised A.T. Porter’s visionary thinking and his perseverance,” according to minutes of a Dec. 3, 2009 board meeting made public Thursday by the Charbonneau commission into corruption.
The Office of the Comptroller of the Currency announced today that it has assessed a civil money penalty of $20 million against Wells Fargo Bank, N.A. ("bank"), and required it to pay more than $14.5 million in restitution for the involvement of the bank's predecessor institutions, Wachovia Bank N.A. and First Union National Bank ("predecessor banks"), in a bid rigging scheme involving the marketing and sale of certain derivative financial products to various municipalities and Section 501(c)(3) organizations harmed by the predecessor banks' misconduct during the period 1997 - 2006.
The Office of the Comptroller of the Currency announced today that it has entered into a Formal Agreement with Bank of America, N.A., Charlotte, North Carolina, related to the bank’s participation in a bid-rigging scheme involving the marketing and sale of certain financial products to municipalities and other non-profit organizations, variously, during the period November 1998 through January 2004.