Every year, the major business magazines put out their annual surveys of big business in America. Their lists rank big corporations by sales, assets, profits, and market share. The goal of these surveys is to identify the biggest and most profitable corporations. But, there is another list – complied by the Corporate Crime [...]
The House Judiciary Committee wants to know why the Justice Department abruptly dropped a federal criminal probe into allegations of insurance fraud at Berkshire Hathaway’s General Reinsurance (Gen Re) unit. In a letter sent to Paul J. McNulty dated July 9, 2007, the Judiciary Committee asked detailed questions about the aborted investigation. McNulty [...]
Maximus, a Reston company that provides consulting services for local and state social service agencies, has settled a Medicaid fraud lawsuit with the federal government for $30.5 million. In addition, the company will hire UBS Investment Bank to review its strategic options.
This settlement comes after an investigation by the federal government. The government [...]
Several issues back, I wrote on a subject that dealt with what is referred to as “dead peasant insurance.” A lawsuit was filed recently in a Florida federal court that deals with Wal-Mart’s use of the “dead peasant insurance” concept. That type of insurance has stirred up a great deal of controversy because [...]
A record was set recently when a $53.4 million bonus was paid by Goldman Sachs to its chief executive, Lloyd Blankfein. The pay-off for Blankfein included a cash bonus of $27.3 million, with the rest to be paid in stock and options. Blankfein took the helm of the investment bank in June. [...]
