VC Firm CEO Gets Six Years in Prison for Ponzi Scheme
David Wagner solicited nearly $10 million and used investor funds to buy a Porsche and pay earlier investors.
Risk
Restoring Pensions from 401(k) Plans Could Cost San Diego Millions
The city might have to retroactively create DB plans for some 4,000 city workers.
SEC Charges Las Vegas Business Owner for Alleged Role in Defrauding Elderly Investors
Ponzi scheme allegedly raised more than $170 million from approximately 1,100 investors.
SEC Charges 23-Year-Old Crypto Fund Manager with Fraud
Stefan Qin allegedly lied to investors about Virgil Sigma Fund’s strategy, assets, and financial condition.
CPPIB Loses $113 Million Days After Buying SolarWinds Stake, Following Hack
Canadian pension giant, authorities likely to look into whether firm had been aware of cybersecurity risks.
State Treasurers File Shareholder Action over Alleged Gilead Price Gouging
Pennsylvania, Rhode Island call for independent chair at biotech firm after it reportedly priced remdesivir at more than 500 times the cost.
COVID-19 Spurs Economic Policy, Investment Trends Acceleration
While some changes induced by the pandemic will fade away, others are here to stay.
CEO Charged in Rapid COVID-19 Test Scam
Decision Diagnostics’ stock soared 1,500% in less than two months on allegedly false claims of a 15-second COVID-19 test.
Former Nanotech Firm CEO Charged with Fraud over Fictitious Cancer Detector
James Barbera allegedly told investors that his firm had a NASA-developed breathalyzer that could detect cancer and narcotics.
Former Asset Management Firm COO Gets 3 Years in Prison for Fraud
Richard Diver admitted that the money he stole was consumed by his ‘wild’ personal spending.
Court Rules Pensions Can’t Exist in a State of Limbo
In ‘most unusual case,’ judges back PBGC and find that someone must be held responsible for a pension even if the sponsor is long gone.
‘No End in Sight’ to Government Spending, Gundlach Says
Bond King says that output will bring much more Treasury issuance, and the Fed’s buying a lot of it.
Head of Norway’s Wealth Fund Resigns Over Security Clearance Denial
Norges Bank’s deputy governor said his clearance was rejected because he has a wife who lives in China.
A Look Ahead to 2021: Institutional Investors Brace for a Bumpy Road
The majority of global allocators are planning defensive strategies, expecting slides in everything from stocks to SPACs, a Natixis survey says.
SEC Charges Firm for Targeting Haitian-Americans in Alleged Fraud
The CEO told investors their money would help to fund agriculture, renewable energy, and ecommerce projects in Haiti.