Business

Reinaldo and Jean Wilson, owners of Advantage Choice Care and Tele Medcare, were indicted by federal prosecutors for orchestrating a $56 million healthcare fraud scheme. The couple allegedly accepted bribes from medical firms and recruited healthcare providers to order medically unnecessary orthotic braces for Medicare beneficiaries, exploiting reimbursement systems.

Japanese gaming giant Nintendo confirms coronavirus-related disruptions in product manufacturing and shipments, with Foxconn factories closed and potential delays for Switch consoles and Ring Fit Adventure game.

Airbnb has banned individuals under 25 from booking entire properties in Canada following a fatal incident in Toronto. The company's blanket policy affects law-abiding young adults, raising questions about fairness and effective safety measures for short-term rentals.

Appleby, a prominent international law firm, was at the center of the 2017 Paradise Papers leak, exposing confidential financial documents of wealthy individuals worldwide. The 13.4 million leaked documents spanning 1950-2016 highlighted offshore interests and transactions, drawing significant media and regulatory scrutiny.

Mike Lynch, former Autonomy CEO, faces fraud charges after allegedly inflating company profits before HP's £8.4bn acquisition. Prosecutors claim Lynch and executives misrepresented financial performance, leading HP to overpay significantly. The case involves a £3.8bn civil fraud trial in London and potential US criminal charges.

A senior Goldman Sachs executive was permanently barred from banking after being implicated in the 1MDB fraud scandal. The US Federal Reserve found Andrea Vella engaged in unsafe practices by arranging bond issues without fully disclosing key information about financier Low Taek Jho's involvement in the transactions.

Chinese tech company TCL will cease manufacturing BlackBerry-branded smartphones this August, ending a partnership that began in 2016. During their collaboration, TCL successfully produced the popular KEY Series, breathing new life into the once-struggling smartphone brand.

The Organization of Petroleum Exporting Countries (OPEC) and allies have moved their meeting earlier to address the sharp decline in oil prices caused by the coronavirus outbreak. With China's economic slowdown and global market uncertainty, the joint technical committee will evaluate potential production cuts to stabilize oil markets.

Singapore has revised its Global Investor Programme (GIP) to streamline permanent residency for accomplished entrepreneurs. The Economic Development Board aims to strengthen the country's financial sector and attract innovative business leaders by simplifying investment and relocation requirements for global investors.

International corporations like General Motors suspend mainland operations as COVID-19 kills over 200 Chinese and infects nearly 10,000 globally. Companies proactively shutting down to mitigate virus transmission in densely populated manufacturing and commercial spaces.