Fraud

Washington D.C. — The Securities and Exchange Commission will hold a virtual event on April 28 along with the North American Securities Administrators Association (NASAA) and the AARP to examine the latest challenges and issues affecting the senior investor community. The Older Investor Roundtable will include panel discussions geared toward older investors, consumer advocates, and financial professionals nationwide as topics...

Washington D.C. — The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 58 soliciting entities, 11 impersonators of genuine firms, and one bogus regulator. The SEC’s list of soliciting entities that have been the subject of investor complaints, known as the Public Alert: Unregistered...

Los Angeles – Calling alleged actions by a COVID-19 testing company a serious violation of public trust, City Attorney Mike Feuer has announced two settlements valued at a total of $26,454,593. One settlement for $22.5 million resolved allegations that the Venice-based national COVID-testing chain Sameday Technologies (doing business as Sameday Health) and its CEO Felix Huettenbach faked and forged...

Criminal Charges Brought Against Owners and Executives of Medical Businesses, Physicians, Marketers, and Manufacturers of Fake COVID-19 Vaccination Record Cards with Losses Exceeding $149 Million The Department of Justice today announced criminal charges against 21 defendants in nine federal districts across the United States for their alleged participation in various health care related fraud schemes that exploited the COVID-19 pandemic....

SEC Uncovers $194 Million Penny Stock Schemes that Spanned Three Continents This week the Securities and Exchange Commission announced charges against 16 defendants, located in the Bahamas, the British Virgin Islands, Bulgaria, Canada, the Cayman Islands, Monaco, Spain, Turkey, and the United Kingdom, for participating in multi-year fraudulent penny stock schemes that generated more than $194 million in illicit proceeds....

A superseding indictment was unsealed today in the Southern District of Iowa charging the former Chief Financial Officer (CFO) of publicly traded reinsurance company, IRB Brasil Resseguros SA, aka IRB Brasil RE (IRB), for fraudulently propping up its stock price by spreading false information that U.S. investment firm Berkshire Hathaway Inc. had invested in IRB. According to court documents, Fernando...

Washington D.C. — The Securities and Exchange Commission today announced charges and an asset freeze against several Las Vegas-area individuals and companies allegedly behind a nearly half-billion dollar Ponzi scheme involving purported personal injury settlements. The SEC charged certain defendants with violations of the antifraud provisions of the federal securities laws, certain individual defendants with acting as unregistered brokers,...

The Department of Justice today announced the seizure of the RaidForums website, a popular marketplace for cybercriminals to buy and sell hacked data, and unsealed criminal charges against RaidForums’ founder and chief administrator, Diogo Santos Coelho, 21, of Portugal. Coelho was arrested in the United Kingdom on Jan. 31, at the United States’ request and remains in custody pending the...

Roger Ng Found Guilty of Conspiring to Violate the Foreign Corrupt Practices Act and Commit Money Laundering in Connection with 1MDB Scheme A former Managing Director of The Goldman Sachs Group Inc. (Goldman Sachs) was convicted last week by a federal jury in the Eastern District of New York for conspiring to commit bribery, to circumvent internal accounting controls, and...

Charges Involved Theft of Proprietary Software and Sensitive Databases from U.S. Government A former Acting Branch Chief of the Information Technology Division of the U.S. Department of Homeland Security (DHS-OIG) was convicted today by a jury of multiple federal charges stemming from the theft of proprietary software and sensitive databases from the U.S. government. Murali Y. Venkata, 56, of Aldie, Virginia,...