SAP reports itself to SEC over Gupta scandal

German software maker SAP SE (SAP.XE) said it reported itself to U.S. authorities after finding that it paid 94 million South African rand ($6.6 million) to a company with ties to South Africa's controversial Gupta family to secure contracts with state-owned enterprises.

The Guptas are at the center of a corruption scandal in South Africa for allegedly using their close relationship with President Jacob Zuma to amass personal wealth. The Guptas and Mr. Zuma have denied wrongdoing.

The scandal has drawn in several international companies, including KPMG International and McKinsey & Co., which have both launched internal probes to investigate their ties to the Guptas but denied wrongdoing. read more »

Ex-HSBC FX Trader Scott Loses U.K. Bid to Block Extradition

U.K. judge orders extradition of Stuart Scott to America Scott accused of front-running currency deal for Cairn Energy.

HSBC Holdings Plc’s former head of currency trading in London can be extradited to the U.S. to face fraud charges, a London court ruled, three days after his old boss was convicted over the same allegations. read more »

Chicago-area father-and-son executives headed to prison for fraud

Father-and-son executives at two Chicago-area tutoring companies were sentenced to federal prison for defrauding more than 100 school districts in the U.S.

Jowhar Soultanali, 62, and his son Kabir Kassam, 38, pleaded guilty to devising an $11 million fraud scheme to obtain funds from school districts. The duo misrepresented their companies’ tutoring services and falsely inflated invoices for tutoring work that was never performed, according to the government. read more »