Investing

Guidehouse Inc., headquartered in McLean, Virginia, has paid $7,600,000 and Nan McKay and Associates (Nan McKay), headquartered in El Cajon, California, has paid $3,700,000 to resolve allegations that they violated the False Claims Act by failing to meet cybersecurity requirements in contracts intended to ensure a secure environment for low-income New Yorkers to apply online for federal rental assistance...

Six Texas men were sentenced a few days ago for their roles in a conspiracy to fraudulently obtain more than $20 million in forgivable Paycheck Protection Program (PPP) loans that the Small Business Administration (SBA) guaranteed under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Hamza Abbas, 31, Ammas Uddin, 31, and Arham Uddin, 27, all of Richmond, were...

A federal jury convicted a California man yesterday for his role in a scheme to defraud Medicare by billing $2.8 million for hospice services that patients did not need. According to court documents and evidence presented at trial, Dr. John Thropay, 74, of Arcadia, was the medical director of several hospice companies, including Blue Sky Hospice Inc. located in Van...

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...

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

Washington D.C. — The Securities and Exchange Commission this week charged Impact Theory, LLC, a media and entertainment company headquartered in Los Angeles, with conducting an unregistered offering of crypto asset securities in the form of purported non-fungible tokens (NFTs). Impact Theory raised approximately $30 million from hundreds of investors, including investors across the United States, through the offering. According...

Washington D.C. — The Securities and Exchange Commission has announced that it obtained a temporary asset freeze, restraining order, and other emergency relief against Digital Licensing Inc., a Draper, Utah based entity doing business as “DEBT Box,” as well as the company’s four principals, Jason Anderson, his brother Jacob Anderson, Schad Brannon, and Roydon Nelson, and 13 other defendants...

Employee and friend traded ahead of Pfizer’s “game-changer” announcement on the success of its Paxlovid trial Washington D.C. — The Securities and Exchange Commission has announced insider trading charges against Amit Dagar, a former Pfizer Inc. employee, and his close friend and business partner, Atul Bhiwapurkar, for trading in advance of the company’s November 5, 2021, announcement that a randomized,...

Washington D.C., June 22, 2023 — The Securities and Exchange Commission today charged William K. Ichioka, of New York, New York, with fraudulently raising $25 million from individual investors primarily in California and Oregon by making false claims about his investing success and promising large anticipated returns but instead using investor funds for gambling and to enrich himself. Ichioka...