Corporate Crime

YU KUAN CHON, Director of Rapid Synergy Bhd, tricks Malaysia Security Commission in a botched cover-up of indirect shareholdings. CHAN WENG FUI, a connected party, has undisclosed substantial shares in the company.

Discover how the Yu Syndicate, led by brothers Yu Kuan Chon and Yu Kuan Huat, allegedly swindled RM800 million from Rapid Synergy Shareholders through land scams involving Malaysian public companies YNH Property BHD and Rapid Synergy BHD.

Delve into the alleged shady scheme used by the Yu Syndicate, controlled by Yu Kuan Chon and Yu Kuan Huat, to siphon RM1 billion from YNH Property BHD through joint ventures involving 18 dead or frozen projects.

A Filipino-Chinese businessman was arrested in Manila for selling overpriced infrared thermometers during the coronavirus pandemic. Police seized 100 thermometers priced at P4,700 each and confiscated marked money in an entrapment operation targeting pandemic price gouging.

International law enforcement agencies report a 400% increase in coronavirus-related frauds, including online shopping scams, phishing emails, and financial fraud targeting vulnerable consumers seeking safety products and information.

Volkswagen confronts massive $34.69 billion penalty for the 2015 diesel emissions scandal, revealing significant financial impact and strategic pivot towards high-nickel battery technology. The revelations expose the company's ongoing challenges from regulatory investigations and legal settlements stemming from fraudulent emission testing devices.

Lev Dermen, a California gas station owner, was found guilty on 10 felony counts for a massive fraud scheme involving government biodiesel incentives. Working with polygamist brothers Jacob and John Kingston, Dermen helped falsely claim production credits through their company Washakie Renewable Energy, resulting in a $500 million fraudulent claim.

A former Microsoft software engineer has been found guilty of extensive fraud, stealing $10 million worth of digital currency while working on the company's online retail sales platform. Convicted of 18 federal felonies, including wire fraud and money laundering, Kvashuk faces up to 20 years in federal prison for his elaborate scheme.

Apple will pay between $310M to $500M to settle claims of deliberately throttling performance on older iPhone models. Affected devices include iPhone 6, 6 Plus, 6s, 6s Plus, 7, 7 Plus, and SE running iOS 10.2.1 or later, purchased before December 21, 2017.

A Japanese couple who ran Moritomo Gakuen were convicted of fraudulently obtaining government subsidies by falsely inflating teacher and student numbers, resulting in significant financial damage to local and national authorities.