Amazon reportedly faces EU antitrust charges over use of third-party seller data

THE VERGE

The European Union is set to file formal antitrust charges against Amazon over its use of third-party seller data, The Wall Street Journal reports. The charges, which could be filed as soon as next week, will reportedly accuse Amazon of using data gathered from sellers on its marketplace to compete against them. read more »  

South Korean Engineering Company Pleads Guilty to Defrauding U.S. Army, Agrees to Pay $68.4 Million

DOJ

SK Engineering & Construction Co. Ltd. (SK), one of the largest engineering firms in the Republic of Korea, pleaded guilty today to one count of wire fraud, in connection with a fraudulent scheme to obtain U.S. Army contracts through payments to a U.S. Department of Defense contracting official and the submission of false claims to the U.S. government. read more »  

Ernst & Young sued over Wirecard as accounting woes add up

ACCOUNTING TODAY

Accounting firm Ernst & Young was sued over its work for Wirecard AG, just two days after Wirecard’s headquarters were raided as part of a market manipulation probe.

The German lawsuit alleges that EY failed to flag that 1 billion euros ($1.1 billion) in assets were improperly booked on the payment processor’s 2018 accounts, Wolfgang Schirp, a lawyer for private investors, said in a statement on Monday.

The suit adds to a list of criticism over EY’s work, which peaked Friday with a London judge slamming the firm for its treatment of a whistleblower during a trial that ended earlier this year. In addition, EY is being investigated by U.K. regulators over its audit of NMC Health Plc, the hospital administrator that collapsed in April. read more »