Investment Fund CIO Pleads Guilty to Securities Fraud
Joshua Goltry ‘lied about nearly every aspect’ of his fund’s operations and performance, according to federal prosecutors and the SEC.
Law Enforcement
Illinois Multiemployer Fund Agrees to Repay $8M in Excess Bailout Funds
The repayment is the second related to overpayment of excess funds received from the PBGC in connection with the Special Financial Assistance Program.
Former Allianz Global Investors CIO Pleads Guilty to Fraud
Gregoire Tournant allegedly lied to investors and distributed altered risk reports.
State Court Rules Anti-ESG Investing Law Violates Oklahoma Constitution
Judge grants temporary injunction against the Energy Discrimination Elimination Act saying it could affect OPERS’ ‘financial soundness.’
Ohio Attorney General Calls for Removal of Two Teachers’ Pension Board Members
Attorney General Dave Yost accused the members of breaching their fiduciary duty to the fund.
SEC’s Climate Risk Disclosure Rule Faces 3 Lawsuits Within 1 Week of Finalization
The two initial complaints were filed by 19 Republican-leaning states and, separately, the Sierra Club.
‘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.
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.