All articles tagged with #financial investigation
Italian police have arrested nine suspects linked to a Hamas financing network, seizing over eight million euros and uncovering a complex international scheme to fund terrorist activities, including support for Hamas in Gaza, with connections across Europe and involvement in military training and propaganda.
Italian police arrested nine suspects and seized over €8 million in an operation targeting a Hamas-linked terrorist financing network, which involved complex international currency transactions and diverted funds for military and terrorist activities, with cooperation from Dutch and Israeli authorities.
The Financial Times reports that First Brands is under investigation for potentially pledging invoices multiple times, raising concerns about possible financial misconduct. The article also promotes subscription options for FT journalism.
Macy's has concluded an investigation into a $151 million accounting error attributed to a single employee who made an initial mistake in late 2021 and subsequently covered it up. The error, which did not affect revenue or vendor payments, led to a delay in Macy's third-quarter earnings release and a drop in stock price. Macy's is now implementing stronger controls to prevent future issues. Despite the scandal, Macy's is focusing on growth opportunities at select store locations and remains committed to sustainable, profitable growth.
Macy's is investigating a former employee who allegedly concealed $132 to $154 million in delivery expenses through fraudulent accounting practices. The company delayed its third-quarter earnings release to complete the investigation. Experts suggest the employee may have manipulated expense coding to hide costs, possibly motivated by performance incentives. Despite the issue, analysts believe the problem is contained and not significant compared to Macy's overall expenses. The company is focusing on strategic growth plans amid ongoing financial challenges.
Macy's has uncovered a scheme where an employee concealed millions of dollars in delivery expenses, prompting an internal investigation into the financial misconduct within the company.
Macy's has delayed its quarterly sales update after discovering that a single employee concealed over $130 million in delivery-related costs over three years. The company is conducting an investigation and has stated that the issue will not affect its payments to other firms. The employee responsible is no longer with the company. Despite the incident, Macy's is focusing on its holiday season strategy amid declining sales.
Macy's has delayed its third-quarter earnings release after discovering an employee hid up to $154 million in expenses over several years. The issue, related to delivery expenses, was uncovered through an independent investigation, and the responsible employee is no longer with the company. Despite the accounting scandal, Macy's reported a 2.4% decline in net sales to $4.74 billion, slightly above analyst expectations. The company plans to release full financial results by December 11, while focusing on a successful holiday season.
Macy's has postponed its third-quarter results release after discovering an employee concealed $132 million to $154 million in delivery expenses through erroneous accounting entries since late 2021. The company has initiated an independent investigation and stated that the employee is no longer with the company. Preliminary results showed a slight decline in sales to $4.74 billion, leading to a 3% drop in Macy's shares in pre-market trading.
Super Micro Computer (SMCI) has experienced significant stock volatility in 2024, with a dramatic rise followed by a steep decline due to financial impropriety allegations and an investigation by the U.S. Department of Justice. Despite these challenges, the appointment of BDO USA as a new auditor and a compliance plan to avoid NASDAQ delisting have renewed investor confidence. Top investor JR Research sees potential in SMCI, citing its partnerships and advancements in AI technology, though Wall Street remains cautious with a consensus Hold rating.
As three clubs fight to avoid relegation from the Premier League, Everton's financial losses of £371.8m between 2018 and 2021 have led to an investigation into the club's spending, with a decision expected before next season. Rival clubs have pressed for a resolution, aware that a potential points deduction for financial violations might seal Everton's relegation instead of their own. The Premier League has been pushing for a resolution, too, but the independent commission has refused to be hurried. Everton, a fixture in the Premier League since its inception in 1992, currently holds a slim advantage over its rivals.