Fraud

A federal jury in Atlanta convicted a Georgia man and woman yesterday for their roles in an over $11 million Paycheck Protection Program (PPP) fraud scheme. Teldrin Foster, 42, of Decatur, was convicted of bank fraud, wire fraud, conspiracy to commit bank fraud and wire fraud, false statements to a federally insured financial institution, and money laundering in connection with...

Promoter Brenda Chunga (aka Bitcoin Beautee) agrees to settle fraud and unregistered offering charges Washington D.C., Jan. 29, 2024 — The Securities and Exchange Commission this week charged Xue Lee (aka Sam Lee) and Brenda Chunga (aka Bitcoin Beautee) for their involvement in a fraudulent crypto asset pyramid scheme known as HyperFund that raised more than $1.7 billion from investors...

Defendant claimed his hedge fund would use sophisticated tools like artificial intelligence to generate returns Washington D.C., Feb. 2, 2024 — The Securities and Exchange Commission this week announced that Brian Sewell and his company, Rockwell Capital Management, agreed to settle fraud charges in connection with a scheme that targeted students taking Sewell’s online crypto trading course known as the...

https://youtu.be/BsPQ4iynaBA Featured image: by Got Credit.

https://youtu.be/uud_agtYrlc Featured image: by Got Credit.

Los Ángeles (CA) – La Comisión Nacional del Mercado de Valores (CNMV) de España tiene en el punto de mira a una serie de campañas publicitarias distribuidas a través de X, anteriormente conocida como Twitter, que pretenden estafar a los consumidores con suculentas inversiones en criptomoneda. Los anuncios publicados en la red social explotan la imagen y el nombre de...

Washington D.C. — The Securities and Exchange Commission this week announced charges against Jake Soberal and Irma Olguin, Jr., the former co-CEOs of Fresno, California-based private technology services startup Bitwise Industries Inc., for misleading investors about the company’s finances. Soberal and Olguin have agreed to resolve the charges against them. The SEC’s complaint alleges that Soberal and Olguin made material...

Washington D.C. — The Securities and Exchange Commission has announced fraud charges against Eduardo Hernandez, Christopher Flagg, Daquan Lloyd, and Corey Ortiz, all currently or formerly of Long Island, New York, for perpetrating a multi-year “free-riding” scheme that generated more than $2 million in illicit profits. The SEC alleges that, from approximately November 2018 through January 2022, the defendants opened...

Washington D.C. — The Securities and Exchange Commission today charged Richmond, California resident Tilila Walker Sumchai with raising approximately $11.8 million from more than 1,000 investors through a fraudulent securities offering targeting members of the Tongan American community across the United States. According to the SEC’s complaint, from approximately January 2021 through October 2021, Sumchai convinced retail investors to acquire...

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