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Financial Crime Weekly: SEC Charges 3 Texans With Running $91 Million Ponzi Scheme & Raytheon, RTX Agree To Pay $8.4 Million To Settle Allegations
Sunday, May 4, 2025 - 3:58pm | 571SEC Charges 3 Texans With Running $91 Million Ponzi Scheme The Securities and Exchange Commission on Tuesday charged Texas residents Kenneth W. Alexander II, Robert D. Welsh and Caedrynn E. Conner with running a Ponzi scheme that raised at least $91 million from over 200 investors. According to the...
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Financial Crime Weekly: Man Charged With Operating $198 Million Crypto Ponzi Scheme
Sunday, April 27, 2025 - 3:02pm | 420The Securities and Exchange Commission filed charges on Tuesday against Ramil Palafox, accusing him of running a fraudulent investment scheme that collected nearly $198 million from Bitcoin (CRYPTO: BTC) and foreign exchange investors and misappropriated more than $57 million for his personal...
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Financial Crime Weekly: Charlie Javice Convicted Of Fraud In JPMorgan Acquisition Case, Man Sentenced To 15 Years For Investment Fraud
Friday, March 28, 2025 - 5:25pm | 467Charlie Javice Found Guilty Of Defrauding JPMorgan Chase Charlie Javice was convicted on Friday of defrauding JPMorgan Chase & Co. (NYSE:JPM) in its $175 million acquisition of the student finance startup Frank. According to a Bloomberg report, a Manhattan federal jury determined...
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Financial Crime Weekly: Toyota Subsidiary To Pay Over $1.6 Billion For Emissions Fraud Scheme
Sunday, March 23, 2025 - 2:39pm | 640Toyota Subsidiary Order To Pay Over $1.6B In Penalties For Emissions Fraud Scheme U.S. District Court Judge Mark A. Goldsmith of the Eastern District of Michigan on Wednesday accepted Hino Motors, Ltd.'s guilty plea to a single criminal charge for engaging in a multi-year conspiracy to defraud the...
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Financial Crime Weekly: Man Sentenced To 78 Months For Investment Scheme, Woman Convicted Of $20 Million Insurance Fraud
Sunday, March 16, 2025 - 2:40pm | 610Man Sentenced To 78 Months In Prison For Tax Crimes, Investment Fraud Rick Tariq Rahim of Great Falls, Virginia was sentenced on Friday to 78 months in prison for tax crimes and a wire fraud scheme. Rahim owned multiple businesses, including laser tag facilities and an Amazon reseller, failed...
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Financial Crime Weekly: $1.4 Billion Ethereum Stolen In Largest Crypto Hack Ever, SEC Creates Cyber And Emerging Technologies Unit
Sunday, February 23, 2025 - 2:20pm | 548$1.4 Billion Ethereum Stolen In Largest Crypto Hack In History Cryptocurrency exchange Bybit suffered a major breach on Friday which resulted in the theft of $1.4 billion Ethereum (CRYPTO: ETH). The incident is considered the largest cryptocurrency hack in history, surpassing the 2021 Poly Network...
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Financial Crime Weekly: Man Pleads Guilty To Hacking SEC Social Media Account, Two Plead Guilty In $577 Million Crypto Fraud Scheme
Monday, February 17, 2025 - 1:00pm | 443Man Pleads Guilty To Hacking SEC Social Media Account The U.S. Department of Justice on Monday announced that Eric Council pleaded guilty to conspiracy to commit aggravated identity theft in a federal court in Washington, D.C.. Council is accused of hacking the SEC's X account and posting a fake...
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Financial Crime Weekly: Former Celsius VP Pleads Guilty To Insider Trading, Lockheed Martin Pays Nearly $30 Million Settlement
Sunday, February 9, 2025 - 3:20pm | 437Stephen George, former vice president and controller of Celsius Holdings, Inc. (NASDAQ:CELH), on Tuesday pleaded guilty for his role in an insider trading scheme that netted him over $1.6 million in profits. According to court documents, George was a member of the Finance Department at Celsius...
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Financial Crime Weekly: Judge Orders $5.9 Billion Fine In Ponzi Scheme Case, SEC Chairman Appoints New Staff Members
Saturday, February 1, 2025 - 3:40pm | 462Federal Judge Orders $5.9 Billion Fine In Ponzi Scheme Case Chief Judge David Godbey of the Dallas federal court on Wednesday ordered Allen Stanford to pay a $5.9 billion civil fine, ending the Securities and Exchange Commission’s 16-year lawsuit against Stanford. Stanford is serving a 110-...
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Financial Crime Weekly: Pfizer Pays Nearly $60 Million To Resolve False Claims Allegations, SEC Creates Crypto Task Force
Sunday, January 26, 2025 - 1:15pm | 482Pfizer Pays Nearly $60 Million To Resolve False Claims Allegations The U.S. Department of Justice announced on Friday that Pfizer Inc. (NYSE:PFE), on behalf of its subsidiary Biohaven Ltd. (NYSE:BHVN) (Biohaven), agreed to pay $59,746,277 to resolve allegations that Biohaven knowingly caused...
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Financial Crime Weekly: American Express Pays $108 Million To Settle Deceptive Marketing Charges, Vanguard Group Pays $106 Million For Violations
Monday, January 20, 2025 - 5:07pm | 546American Express Pays $108 Million To Settle Deceptive Marketing Charges The U.S. Department of Justice announced on Thursday that American Express Co. (NYSE:AXP) agreed to a $108.7 million settlement to resolve allegations of violating the Financial Institutions Reform, Recovery and Enforcement...
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Financial Crime Weekly: DOJ Sues 6 Of The Nation's Largest Landlords, Man Pleads Guilty To $9.4 Million Crypto Scheme
Sunday, January 12, 2025 - 4:45pm | 483DOJ Sues 6 Of The Largest Landlords For Pricing Schemes That Harmed Struggling Renters The U.S. Department of Justice on Tuesday amended its antitrust lawsuit against RealPage to include six of the nation's largest landlords for allegedly participating in algorithmic pricing schemes. The...
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Financial Crime Weekly: $4.3 Billion Paid To Bernie Madoff Ponzi Scheme Victims, Do Kwon Pleads Not Guilty
Sunday, January 5, 2025 - 2:50pm | 422Do Kwon Pleads Not Guilty In U.S. Courtroom According to a Reuters report, Do Kwon, co-founder of Terraform Labs, the incubator of TerraUSD (CRYPTO:USTC) and Luna (CRYPTO: LUNC) pleaded not guilty on Thursday to criminal fraud charges in a U.S. court. Kwon was handed over to U.S. law...
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Financial Crime Weekly: SEC Charges Tai Mo Shan With Misleading Terra USD Investors, Rocket Companies Sued Over Alleged Kickback Scheme
Saturday, December 28, 2024 - 10:00am | 639Consumer Financial Protection Bureau Sues Rocket Homes, Alleges Kickback Scheme The Consumer Financial Protection Bureau sued Rocket Homes, a division of Rocket Companies, Inc. (NYSE:RKT), on Monday in what it said is an action stop the company from providing incentives to real estate brokers and...
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Financial Crime Weekly: Becton, Dickinson And Co. Pays $175 Million Penalty, Express Fails To Disclose CEO's Full Compensation
Saturday, December 21, 2024 - 10:30am | 547Becton, Dickinson And Co. Agrees To Pay $175 Million Civil Penalty The Securities and Exchange Commission on Monday announced it had settled charges against Becton, Dickinson and Company (NYSE:BDX), known as BD, for repeatedly misleading investors about risks associated with its continued sales of...