Panama Intermediaries Each Sentenced to 36 Months in Prison for International Bribery and Money Laundering Scheme
Two brothers, each a dual-citizen of Panama and Italy, were each sentenced to 36 months in prison for laundering $28 million in a bribery and money laundering scheme involving Odebrecht S.A. (Odebrecht), a Brazil-based global construction conglomerate. The defendants were also ordered to forfeit more than $18.8 million, pay a $250,000 fine and serve two years’ supervised release.
Luis Enrique...
Allianz Global Investors Agrees to Pay More Than $1 Billion to Resolve SEC Charges
SEC Charges Allianz Global Investors and Three Former Senior Portfolio Managers with Multibillion Dollar Securities Fraud
Washington D.C. — The Securities and Exchange Commission (SEC) this week charged Allianz Global Investors U.S. LLC (AGI US) and three former senior portfolio managers with a massive fraudulent scheme that concealed the immense downside risks of a complex options trading strategy they called...
SEC Obtains Emergency Relief to Halt Pre-IPO Stock Fraud Scheme by Unregistered Broker-Dealer
Defendants, including persons barred from the brokerage industry, allegedly sold shares they didn’t own, and pocketed more than $75 million
Washington D.C. — The Securities and Exchange Commission announced this week that it obtained asset freezes and other emergency relief against StraightPath Venture Partners LLC, StraightPath Management LLC, Brian K. Martinsen, Michael A. Castillero, Francine A. Lanaia, and Eric D....
SEC Extends Comment Period for Proposed Rules on Climate-Related Disclosures, Reopens Comment Periods for Proposed Rules Regarding Private Fund Advisers and Regulation ATS
Washington D.C. — The Securities and Exchange Commission this week announced that it has extended the public comment period on the proposed rulemaking to enhance and standardize climate-related disclosures for investors until June 17, 2022. The SEC also announced that it will reopen the comment periods on the proposed rulemaking to enhance private fund investor protection and on the...
Woman Convicted of Laundering Over $750,000 from Health Care Fraud Scheme
A federal jury convicted a Florida woman Friday for laundering approximately $786,000 in money stolen from Medicare, Medicaid, and private health insurers as part of a sprawling health care fraud scheme in Miami.
According to court documents and evidence presented at trial, Jesmina Ramirez, 50, of Miami Gardens, laundered hundreds of thousands of dollars in fraud proceeds by cashing checks...
Two Men Sentenced for COVID-19 Relief Fraud Scheme
Two Florida men were sentenced Friday for leading a nationwide scheme to defraud the Paycheck Protection Program (PPP) for millions of dollars in loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The U.S. District Court for the Northern District of Ohio sentenced Phillip J. Augustin, 53, of Coral Springs, to...
Founders of cryptomining scheme accused of using investments to fund lavish lifestyle
SEC Halts Fraudulent Cryptomining and Trading Scheme
Washington D.C. — The Securities and Exchange Commission this week announced fraud charges against MCC International Corp. (MCC), which does business as Mining Capital Coin Corp., its founders Luiz Carlos Capuci, Jr. (aka Junior Caputti or Capuci) and Emerson Souza Pires (Pires), and two other entities controlled by Capuci, CPTLCoin Corp. (CPTLCoin) and...
SEC Charges Archegos and its Founder with Massive Market Manipulation Scheme
Multiple Archegos Executives Charged with Misleading Counterparties
Washington D.C. — The Securities and Exchange Commission has charged Sung Kook (Bill) Hwang, the owner of family office Archegos Capital Management, LP (Archegos), with orchestrating a fraudulent scheme that resulted in billions of dollars in losses. The SEC also charged Archegos’s Chief Financial Officer, Patrick Halligan; head trader, William Tomita; and Chief...
SEC Nearly Doubles Size of Enforcement’s Crypto Assets and Cyber Unit
Washington D.C., May 3, 2022 — The Securities and Exchange Commission today announced the allocation of 20 additional positions to the unit responsible for protecting investors in crypto markets and from cyber-related threats. The newly renamed Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) in the Division of Enforcement will grow to 50 dedicated positions.
"The U.S....
President of Synergy Settlement Services accused of misusing beneficiaries’ funds on golf tournaments and beach parties
Defendants allegedly used funds from deceased beneficiaries’ accounts on golf tournaments and beach parties
Washington D.C., May 2, 2022 — The Securities and Exchange Commission today announced fraud charges against Synergy Settlement Services, Inc., CEO Jason D. Lazarus, Esq., both based in Orlando, FL, and President Anthony F. Prieto, Jr. of Tampa, FL, for allegedly defrauding individuals with disabilities into...