Thursday, February 25, 2021

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Cisco Systems probes former employees of China unit over embezzlement allegations

Cisco Systems Inc. is investigating an alleged embezzlement scheme by former employees in China that may have involved payments to Chinese state-owned firms, the company said. The networking-equipment firm voluntarily disclosed the matter to the U.S. Department of Justice and...

China executes ex-chief of asset management firm convicted in bribery case

The former head of a Chinese state-owned asset management company was executed Friday on charges of taking bribes in an unusually severe penalty for a recent corruption case. Lai Xiaomin of China Huarong Asset Management Co. was among thousands of...

China Development Bank ex-chairman sentenced to life in prison for bribery

China sentenced Hu Huaibang, a former chairman of the nation’s biggest policy bank, to life imprisonment on charges of corruption, the second harsh punishment doled out this week in a sign President Xi Jinping is escalating a campaign to...

China sentences ex-chief of Huarong asset firm to death over bribery

The former head of state-owned China Huarong Asset Management Co. Ltd. was sentenced to death Tuesday for bribe taking in one of the harshest punishments for economic crimes in recent years. Lai Xiaomin, 58, was also found guilty by the...

U.S SEC fines China’s Luckin Coffee $180 million over accounting fraud

China’s Luckin Coffee has agreed to pay a $180 million penalty to settle accounting fraud charges, the Securities and Exchange Commission says. The SEC charged the company with defrauding investors by misstating its revenue, expenses, and net operating loss to...

Former Ohio State University professor pleads guilty to hiding China affiliation

An Ohio State University professor formally admitted Thursday that he did not disclose his affiliation with a Chinese university when securing grants in what investigators called a scheme to share federally funded medical research with China. Song Guo Zheng, 58,...

Latin America gangs use bribery, secret routes to smuggle jaguar parts to China – Report

Criminal organizations in Bolivia and other Latin American countries are bribing police and circumventing customs restrictions to smuggle parts of jaguars to mainland China, an investigation by environmental groups showed on Thursday. Seventy-five intelligence sources across Latin America, including traffickers,...

Pfizer faces inquiry over foreign bribery in China

Pfizer Inc. said it received an inquiry from the U.S. Securities and Exchange Commission’s foreign-bribery unit regarding the drugmaker’s operations in China. The inquiry was disclosed in Pfizer’s third-quarter financial statement, which was filed with regulators Thursday. It follows other...

Herbalife to pay U.S $123 million to resolve China bribery case

Herbalife, the nutritional supplements company, has agreed to pay penalties of more than $123 million to resolve charges that it conspired to bribe to Chinese officials and falsify its books to boost its business in China, according to the Department of Justice. US officials...

Texas A&M University professor arrested for wire fraud linked to China’s talent program

The US Justice Department announced the arrest Monday of a researcher in Texas for allegedly hiding his paid participation in a Chinese government talent recruitment programme while conducting scientific research for Nasa, the US space agency. The arrest of Texas...

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Turkey jails pilots, airline official for their roles in the escape of ex-Nissan CEO Ghosn

A Turkish court convicted an official from a private airline and two pilots Wednesday for involvement in former Nissan...
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