Investing

The Securities and Exchange Commission today charged 18 individuals and entities for their roles in a fraudulent scheme in which dozens of online retail brokerage accounts were hacked and improperly used to purchase microcap stocks to manipulate the price and trading volume of those stocks. Those charged include Rahim Mohamed of Alberta, Canada, who is alleged to have coordinated...

A federal jury in Atlanta convicted a South Carolina man today of fraudulently obtaining a $300,000 forgivable Paycheck Protection Program (PPP) loan guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. According to court documents and evidence presented at trial, Travis Crosby, 32, of Wellford, conspired to submit a PPP loan application...

Former CEO Agrees to Settle to Same Charges and Pay $1 Million The Securities and Exchange Commission today charged The Boeing Company and its former CEO, Dennis A. Muilenburg, with making materially misleading public statements following crashes of Boeing airplanes in 2018 and 2019. The crashes involved Boeing’s 737 MAX airplane and a flight control function called the Maneuvering Characteristics...

The Securities and Exchange Commission today charged two North Carolina-based executives, Gregory E. Lindberg and Christopher Herwig, and their Malta-based registered investment adviser, Standard Advisory Services Limited, for defrauding clients out of more than $75 million through undisclosed transactions that benefited themselves and their companies. According to the SEC’s complaint, from July 2017 through 2018, Lindberg and Herwig, through Standard...

A través de un comunicado, el Sindicato Nacional de Escritores (NWU) condena la corrupción periodística de Antonio García Ferreras, director de la televisora española La Sexta, por influir en las elecciones presidenciales de España usando “fake news” New York (USA) – El Sindicato Nacional de Escritores (NWU) de EEUU condena tajantemente la manipulación informativa y la praxis antiprofesional y antidemocrática...

Defendant Defrauded Investors of Over $6 Million A federal jury convicted a New York man this week in connection with a scheme to defraud investors by marketing and selling fraudulent virtual currency. According to court documents and evidence presented at trial, Randall Crater, 51, of East Hampton, founded My Big Coin Pay Inc. (My Big Coin), a purported cryptocurrency and virtual...

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...