June 2002
Prison Sentences for Fraudulent Executives - 2002-06-30
President Bush has vowed to punish fraudulent executives in American companies following significant financial scandals affecting markets. WorldCom and Xerox are highlighted as examples of…
Today, Seventeen Thousand Employees of WorldCom Will Be Laid Off - 2002-06-28
WorldCom is laying off 17,000 employees due to a financial scandal involving nearly $4 billion. The company has admitted to inflating profits by misclassifying expenses,…
Indictment Issued Against a Female Banker in America - 2002-06-28
An indictment has been issued against Consuelo Marquez, a former banker in New York, for allegedly facilitating unauthorized financial transactions linked to drug trafficking profits…
According to the Treasury Secretary, Executives of Fraudulent and Deceptive Companies are Liable to Prosecution - 2002-06-27
U.S. Treasury Secretary Paul O'Neill announced that executives of fraudulent companies can be prosecuted, following the WorldCom scandal where reported profits were overstated. This situation…
President of Azerbaijan Calls for Constitutional Change
Heydar Aliyev, the President of Azerbaijan, is proposing constitutional changes that critics argue will consolidate his power. The changes include lowering the majority needed for…
Two Lebanese Brothers Convicted of Cigarette Smuggling and Assisting Hezbollah
Two Lebanese brothers were convicted in North Carolina for cigarette smuggling and financing Hezbollah. Mohammad Hamoud is notably the first convicted under federal anti-terrorism laws.…
According to a reputable Russian publication, Osama bin Laden is still alive - 2002-06-13
A Russian publication claims that Osama bin Laden is still alive and plotting against the U.S., citing an email from Mullah Mohammad Omar. This raises…