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fraud

May 24, 2013

Despite the Madoff scandal being an increasingly distant memory, concern about financial fraud is still uppermost in the minds of the wealthiest investors, particularly when it comes to hedge funds, according to a recent study.

Despite the Madoff scandal being an increasingly distant memory, concern about financial fraud is still uppermost in the minds of the wealthiest investors, particularly when it comes to hedge funds, according to a recent study.

Corgentum, an operational due diligence consultancy, found that family offices across the US, Europe and Asia are doing much more due diligence on their hedge fund holdings as a result of concerns.

May 25, 2011

Antique fakes are almost as old as the antiques themselves. Christopher Owen, who helped expose one of the greatest frauds in the history of the market, tells the tale – and the lessons that buyers should draw from it.

Michael Smith, one of America’s top interior designers who was commissioned by the Obamas to redo the interiors of the White House, was taken aback when a friend called from London in early 2008 with some disturbing news.

According to a prominent London newspaper, John Hobbs, one of London’s premier antiques dealers, specialising in the most expensive English and Continental furniture, had been publicly accused by his restorer of selling fakes.

April 30, 2010

The number of hedge funds suing family-controlled automaker Porsche for market manipulation and fraud in 2008 has risen to 35.

The number of hedge funds suing family-controlled automaker Porsche for market manipulation and fraud in 2008 has risen to 35.

The plaintiffs released a joint statement yesterday stating 18 new hedge funds had joined the litigation against Porsche Automobile Holding SE and two former executives, Wendelin Wiedeking and Holger Haerter, accusing them of lying over their intentions towards Volkswagen. 

October 21, 2008

Parmalat, the Italian food and dairy company formally owned by the Tanzi family, has lost its fraud case against Citigroup and been ordered to pay $364.2 million in damages.

Parmalat, the Italian food and dairy company formally owned by the Tanzi family, has lost its fraud case against Citigroup and been ordered to pay $364.2 million in damages.
 
Parmalat went bankrupt in 2003 after revealing that a $5.34 billion account at Bank of America didn't exist and stating that documents certifying the account were falsified.
 

February 22, 2008

Wealthy families and other ultra high net worth individuals who have invested money into Liechtenstein’s LGT bank may find their assets closely scrutinised as the bank is investigated for fraud by the German government.

Wealthy families and other ultra high net worth individuals who have invested money into Liechtenstein's LGT bank may find their assets closely scrutinised as the bank is investigated for fraud by the German government.

January 1, 2008

Reports of corruption and fraud in major businesses have filled the first weeks of the new year with some notable family names being sullied. William Boston examines the implications of corruption allegations at a family business

Reports of corruption and fraud in major businesses have filled the first weeks of the new year with some notable family names being sullied. William Boston examines the implications of corruption allegations at a family business

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