racketeering News

JPMorgan Inherited ‘Spoof’ Method From Bear Stearns, U.S. Says

When JPMorgan Chase & Co. took over Bear Stearns more than a decade ago, it got two traders with a new trick. Their strategy: Use multiple fake orders to manipulate the prices of precious metals futures. The maneuver, adopted by …

Opioid Manufacturer Insys Files for Bankruptcy after Kickback Probe

Drugmaker Insys Therapeutics Inc filed for bankruptcy protection on Monday amid mounting expenses driven by a U.S. Justice Department probe into claims it paid doctors bribes to prescribe a powerful opioid medication. The Chapter 11 bankruptcy filing marked a first …

McKesson Opioid Deal in West Virginia May Spur More Accords

McKesson Corp.’s settlement of an opioid lawsuit with West Virginia — the state with the highest U.S. rate of drug-overdose deaths — may encourage other states to seek quick cash to cope with the rising societal costs of addiction. West …

Former Louisiana Deputy Insurance Commissioner Sentenced

A former deputy commissioner at the Louisiana Department of Insurance has received a prison sentence for racketeering, according to Justice Department officials. Acting United States Attorney J. Walter Green in the U.S. Attorney’s Office for the Middle District of Louisiana …