Newsmakers
Brother, Sister Charged in Alleged $124 Million Crypto Fraud Scam
John and Tina Barksdale allegedly defrauded thousands of investors through offerings of a digital token called Ormeus Coin.
Tag: Justice Department
Regulation
DOJ Lawsuit Could Hurt Aon-Willis Towers Watson’s Chances in Europe
Legal action could influence whether the European Commission approves the $30 billion acquisition.
Risk
North Korean Extradited to US to Face Money Laundering Charges
Mun Chol Myong is the first North Korean to ever face criminal charges in the US.
Risk
Swiss Bank Admits to Helping US Clients Evade Taxes
Zuirch-based 271-year-old private bank Rahn+Bodmer will pay $22 million to settle charges it defrauded the IRS.
Coronavirus - COVID-19
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.
Manager Selection
Software Firm CEO Indicted in $2 Billion Tax Evasion Scheme
Robert Brockman allegedly used a web of offshore entities to hide private equity income from the IRS.
Regulation
Justice Department Launches Cryptocurrency Enforcement Framework
The guide provides an overview of the threats faced by the illicit use of cryptocurrencies and ways to combat them.
Regulation
JPMorgan Chase to Pay Nearly $1 Billion to Settle Trade Manipulation Charges
Bank avoids criminal charges by agreeing to record $920.2 million CFTC fine and a $35 million SEC fine.
Regulation
SEC, DOJ, CFTC Charge Three in Ponzi Scheme Targeting African Immigrants
The defendants allegedly posed as pastors to gain the trust of unsuspecting churchgoers, among other things.
Risk
San Diego Magnate Masterminded $400 Million Liquor License Scam
Gina Champion-Cain pleads guilty to the largest Ponzi scheme ever uncovered in Southern District of California.
Alternatives
15 Plead Guilty to International Cyber Fraud Conspiracy
Romanian conspirators sold non-existent cars and used bitcoin to launder proceeds.
Regulation
US Indicts 33 in $2.5 Billion Scheme to Aid North Korean Nukes
North Korean, Chinese nationals charged with funneling money through US banks.
Corporate Moves
Wells Fargo to Pay $3 Billion Settlement for ‘Gaming’ Investors
Payment includes $500 million civil penalty distributed to investors by SEC.
Regulation
Mennonite Accountant Charged in $60 Million Ponzi Scheme
Philip Riehl allegedly scammed fellow Mennonites and Amish for nearly a decade.
Regulation
Two Sent to Prison for $2.8 Million Investment Fraud Targeting Elderly Victims
Robert Stencil, Michael Duke allegedly enticed investors with a pre-public offering for a company that did not exist.