Editors Picks

Washington D.C. — The Securities and Exchange Commission today announced insider trading charges against a former Coinbase product manager, his brother, and his friend for perpetrating a scheme to trade ahead of multiple announcements regarding certain crypto assets that would be made available for trading on the Coinbase platform. The SEC’s complaint alleges that, while employed at Coinbase, Ishan Wahi...

Washington D.C. — The Securities and Exchange Commission this week announced charges against Health Insurance Innovations (HII) and its former CEO Gavin Southwell for concealing extensive consumer complaints about short-term and limited health insurance products HII offered. HII has since changed its name to Benefytt Technologies and become a private company. According to the SEC’s order, from March 2017 through...

CEO of Dozens of Companies and Entities Charged in Scheme to Traffic an Estimated $1 Billion in Fraudulent and Counterfeit Cisco Networking Equipment A federal grand jury in the District of New Jersey returned an indictment last week charging a resident of Florida with running a massive operation over many years to traffic in fraudulent and counterfeit Cisco networking equipment...

A federal jury convicted a New York man this week in an over $600 million health care fraud, wire fraud, and identity theft scheme. According to court documents and evidence presented at trial, Mathew James, 54, of East Northport, operated a medical billing company that billed for procedures that were either more serious or entirely different than those James’ doctor-clients...

As scheme collapsed, defendants stopped investor withdrawals and relocated to Brazil Washington D.C. — The Securities and Exchange Commission has announced fraud charges against Empires Consulting Corp. (EmpiresX), its founders Emerson Sousa Pires and Flavio Mendes Goncalves, and its head trader Joshua David Nicholas, for a scheme that allegedly raised at least $40 million by luring investors with false claims...

The Department of Justice, together with federal law enforcement partners, has announced criminal charges against six defendants in four separate cases for their alleged involvement in cryptocurrency-related fraud, including the largest known Non-Fungible Token (NFT) scheme charged to date, a fraudulent investment fund that purportedly traded on cryptocurrency exchanges, a global Ponzi scheme involving the sale of unregistered crypto...

Washington D.C. — The Securities and Exchange Commission has announced that UBS Financial Services Inc. has agreed to pay approximately $25 million to settle fraud charges relating to a complex investment strategy referred to as YES, or Yield Enhancement Strategy. According to the SEC’s order, UBS marketed and sold YES to approximately 600 investors through its platform of domestic financial...

A California man was extradited from Mexico on March 8 and pleaded guilty today to conspiracy to commit mail fraud and wire fraud, mail fraud, and money laundering charges for two high-yield investment fraud schemes. According to court documents, Daniel Thomas Broyles Sr., aka Dan Thomas, aka Daniel Cruz Torrez, 64, of Malibu, participated in a high-yield investment fraud scheme...

AN IMPORTANT NOTE: On June 22, 2021, Hadari Oshri –Marc Lubaszka’s business partner– filed a civil harassment restraining order (CHRO) against Investor News reporter Aitana Vargas to stop the publication of her investigative series “A Special Report: The Harrowing Impunity of White-Collar crime,” and any subsequent installments or future media coverage. On August 3, 2021, Vargas filed an anti-SLAPP...

"A Special Report: The Harrowing Impunity of White-Collar Crime" competes for top journalism award Los Angeles (CA) – Investor News correspondent Aitana Vargas just walked the red carpet at the LA Press Club 64th Annual Awards Gala, which is being held at the Sheraton Universal Hotel in Universal City tonight and honors journalism and editorial excellence across Southern California in...