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Monster Worldwide's Former Chief Operating Officer Charged in Options Backdating Case The former chief operating officer of Monster Worldwide was arrested, charged with backdating stock option grants to employees between 1997 and 2003.

News & Insights

This Week in the SmartPros News & Insights Newsletter SOX Costs Down, Audit Fees Up ... IRS Collects More in 2007 ... The Fair Value Problem ... CPE Spotlight: D&O Insurance: Good News on the Horizon? Fraud Charges Against Block Brokerage Dismissed Regulators dismissed 3.5-year-old civil fraud charges today against the brokerage business of H&R Block that arose from its sales of Enron Corp. bonds to investors shortly before its spectacular 2001 failure. Wesley Snipes to Serve 3 Years in Prison for Tax Convictions Wesley Snipes called on famous friends to vouch for him, highlighted his clean criminal record and even wrote the government $5 million in checks - all in an effort to convince a judge that his conviction on tax charges should cost him nothing more than home detention and some public service announcements. SEC to Consider Tighter Regulations on Rating Agencies The Securities and Exchange Commission is considering new rules to limit conflicts of interest in the credit rating industry, a key financial player under scrutiny for not sounding the alarm about risky mortgage investments soon enough. SEC Charges Broadcom With Stock Option Backdating The Securities and Exchange Commission says it has charged Broadcom Corp. with falsifying its reported income by illegally backdating stock options for five years. Former Fannie Mae Chief Agrees to $24.7 Million Settlement Former Fannie Mae chief Franklin Raines and two top executives have agreed to a $31.4 million settlement with the government announced Friday over their roles in a 2004 accounting scandal. IRS Asks for Charges Against Former Mercury Interactive CFO Government investigators have filed a criminal complaint against the former chief financial officer of software maker Mercury Interactive accusing her of tax evasion in connection with a stock options backdating scheme. Judge: 3 Fraud Defendants Must Remain Jailed; 1 Other Freed A federal judge ordered one defendant convicted in a $1.9 billion corporate fraud case released from jail on bond, but said three others he dubbed a "leadership cabal" must stay behind bars while awaiting sentencing. Judge Dismisses Some Parmalat Charges Against Citigroup Part of a $7 billion negligence lawsuit filed by Italian dairy firm Parmalat SpA against Citigroup Inc. will go to trial May 5, a state judge has ruled. Former Sprint Nextel Executive Says She Was Fired in Part for Blowing the Whistle on Fraud A former Sprint Nextel executive contends a wireless company purchased by Sprint for $6.5 billion in 2006 fraudulently inflated its customer numbers to drive up the sale price. Court Hears Appeal of Enron's Skilling Former Enron Corp. CEO Jeffrey Skilling, convicted for his role in the once might energy giant's collapse, took risks when he ran the company but they were always for its benefit, his attorney told an appeals court Wednesday.

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