Word: fraude
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...Washington, the U.S. Justice Department adamantly disputed evidence that it had failed to follow through on reports from undercover agents that B.C.C.I. had engaged in corrupt banking practices. In London, British Prime Minister John Major, pale and rigid with rage, told Parliament he knew nothing of rampant fraud at B.C.C.I. until shortly before July 5, when regulators closed the $20 billion rogue bank in most of the 69 countries where it operated. In Peru the scandal breathed new life into charges that former President Alan Garcia Perez had used B.C.C.I. accounts to loot as much as $50 million from...
...Bank-fraud cases are usually dry, tedious affairs. Not this one. Nothing in the history of modern financial scandals rivals the unfolding saga of the Bank of Credit & Commerce International, the $20 billion rogue empire that regulators in 62 countries shut down early this month in a stunning global sweep. Never has a single scandal involved so much money, so many nations or so many prominent people...
...clubs, malls and nursing homes throughout Southern California. The mobile medical labs offered that great American come-on, something for nothing -- in this case, free medical exams. But last week the ubiquitous vans became a symbol of a disease contributing to the exploding cost of U.S. health care: insurance fraud. A Los Angeles grand jury returned a 175-count indictment against brothers Michael and David Smushkevich, along with 10 others, charging that they used the freebie checkups to submit $1 billion in fake claims. All told, they allegedly collected more than $50 million in what may be the biggest scam...
...United Arab Emirates, found himself last week at the center of the largest global banking scandal ever. As the most recent owner of the notoriously corrupt Bank of Credit & Commerce International, which regulators closed earlier this month, Zayed has become the unwitting goat for nearly two decades of alleged fraud by the bank's Pakistan-based managers and for years of neglect by banking authorities around the world. After investing $1 billion to shore up B.C.C.I. since he acquired it last year, Zayed faces the humiliation of losing control of the bank, and the moral -- if not legal -- responsibility...
...possible treason, corruption and abuse of power. But court inquiries have been hampered by a shortage of investigators, legal questions about what exactly constituted crime in the east, and missing evidence. Alexander Schalck- Golodkowski, 58, formerly in charge of the foreign-exchange procurement agency, is being probed for fraud in the disappearance of $13 billion in East German government funds. Prosecutors have been stymied because a ton of files were hastily shredded after Schalck-Golodkowski fled to the West in 1989 to escape arrest by East German reformers. From a lakeside villa in Bavaria, he now complains that...