‘Shadow CEO’ of Real Estate Investment Firm Pleads Guilty to $650M Ponzi Scheme
Nicholas Salzano agreed to a prison term of eight to 12 years for securities fraud, conspiracy to commit wire fraud and conspiracy to defraud the U.S.
Law Enforcement
SEC Charges Crypto Fund Founders in Nearly $2B Fraud
The regulator alleges the now-defunct HyperFund was a ‘pyramid and a Ponzi scheme.’
JP Morgan Settles SEC Charges It Violated Whistleblower Protection Rule
The banking giant’s subsidiary agreed to be censured and pay an $18 million penalty.
SEC, DOJ Charge Dozy Mmobuosi in ‘Massive’ Fraud
The Nigerian businessman with claimed assets of more than $7 billion was widely reported to have been close to buying English soccer club Sheffield United.
Madoff Victim Fund to Pay Out $158.9M to Fraud Victims
The ninth distribution brings the total recovery to more than $4.2 billion over the past 10 years.
Treasury’s Record $4.3B Crypto Exchange Fine Adds to Pressure on Digital Assets
Binance was fined for money-laundering just after Kraken was charged and less than one month after a jury found FTX's Sam Bankman-Fried guilty of fraud.
Asset Management Advisory Firm President Charged by SEC in Massive Fraud
John Hughes bilked dozens of victims of nearly $300 million in a ‘brazen and sophisticated fraud’ and has already pleaded guilty to criminal charges.
SEC Accuses Kraken of Operating Unregistered Securities Exchange
The charge will only stick if the court agrees with the SEC that the tokens involved are, indeed, securities.
Federal Court Enters Judgment Against Former Hedge Fund Trader
Premium Point had inflated the value of private funds it advised by hundreds of millions of dollars to hide poor performance.
Investment Firm Pays $2.5M to Settle Allegations It Defrauded Madoff Victim Fund
Austin-based Fulcrum bought recovery rights from Madoff victims, then required them to conceal the proceeds to inflate the payments.
Michigan Pension Loses Lawsuit Against Unilever Over Ben & Jerry’s Israel Boycott
A federal judge dismissed a case that alleged Unilever misled investors by concealing a board resolution.
SEC Charges Investment Firm for Fraudulent Coin Scam
Red Rock Secured allegedly tricked victims into selling off 401(k) assets to invest in coins at an exorbitant markup.
How Russia’s Military Move Roils Markets
Stocks oscillate as oil shoots up, with more wildness expected ahead.
Litigation Finance Firm Founder Pleads Guilty to Securities Fraud
Jaeson Birnbaum faces up to 20 years in prison for using investor funds for personal use and to pay earlier investors.