Consumer News

Nortel Fraud Trial Resumes

Posted: March 26, 2012 at 3:48 pm   /   Consumer News

The TheGlobeandMail.com reports on the latest from the Nortel Networks Corp Fraud trail… A former Nortel Networks Corp. employee will testify Monday about the creation of excess accounting reserves at the company at the end of 2002, including entries made late in the process after the operating divisions had submitted their final numbers. The fraud […]

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Top 10 Consumer Complaint Categories for 2011

Top 10 Consumer Complaint Categories for 2011

Posted: March 18, 2012 at 4:02 pm   /   Consumer News, Personal Protection

The New Jersey division of consumer affairs has announced the top 10 consumer complaint categories of last year… Complaints related to home improvements generated the largest category of complaints filed by consumers last year with the State Division of Consumer Affairs, representing 7.7% of all consumer complaints received. The Division today released its Top 10 […]

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OCC Probing JPMorgan Chase Credit Card Collections

OCC Probing JPMorgan Chase Credit Card Collections

Posted: March 13, 2012 at 4:12 pm   /   Consumer News, Financial & Insurance Fraud

American Banker reports on the JPMorgan / Chase fraud: JPMorgan Chase & Co. took procedural shortcuts and used faulty account records in suing tens of thousands of delinquent credit card borrowers for at least two years, current and former employees say. The alleged process flaws sparked a regulatory probe by the Office of the Comptroller […]

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Bayer Settles Yaz and Yasmin Cases

Bayer Settles Yaz and Yasmin Cases

Posted: March 9, 2012 at 4:19 pm   /   Class Actions, Consumer News

Consumer Fraud Forum¬†received the following press release today, regarding the long-awaited Yaz / Yasmin settlement: Bayer has agreed to settle about 70 of the approximately 11,300 product liability claims involving the oral contraceptives Yaz and Yasmin, according to the drug company‚Äôs latest annual report. As of Feb. 13, 2012, Bayer had reached agreements, without admission […]

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Stanford Convicted by Jury in $7 Billion Ponzi Scheme

Jury Convicts Stanford in $7 Billion Ponzi Fraud

Posted: March 6, 2012 at 4:39 pm   /   Consumer News

The NY Times has breaking news on the Stanford court case: A federal jury on Tuesday convicted R. Allen Stanford, a Texas financier, on 13 out of 14 counts of fraud in connection with a worldwide fraud that lasted more than two decades and involved more than $7 billion in investments. The ruling came after […]

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Mets Owners Must Return $83 Million in Madoff Profits

Mets Owners Must Return $83 Million in Madoff Profits

Posted: March 5, 2012 at 4:50 pm   /   Business & Investment Fraud, Consumer News

The Mets team and its owners are in hot water over accepting payments from Madoff, reports WSJ online: A federal judge ordered the owners of the New York Mets baseball team and their business partners to return as much as $83 million they withdrew from Bernard Madoff’s firm and said a jury will decide whether […]

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