SEC proposes rules on cybersecurity risk management, strategy, governance, and incident disclosure by public companies
Washington D.C. — The Securities and Exchange Commission has proposed amendments to its rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies.
"Over the years, our disclosure regime has evolved to reflect evolving risks and investor needs," said SEC Chair Gary Gensler. "Today, cybersecurity is an emerging risk with which public...
Adam Rogas raised $123M from investors using phony financial statements
Adam Rogas Raised $123 Million From Investors Using Financial Statements That Showed Tens of Millions of Dollars of Revenue and Assets that Did Not Exist
Damian Williams, the United States Attorney for the Southern District of New York, announced that ADAM ROGAS, the co-founder and former CEO, CFO, and member of the board of directors of Las Vegas-based cyberfraud prevention...
The US announces increased international cooperation to target Russian assets
Australia, Canada, the European Commission, Germany, Italy, France, Japan, the UK, and U.S., Agree to Increased Cooperation to Target Russian Assets
Attorney General Merrick B. Garland and Secretary of the Treasury Janet L. Yellen today met virtually with representatives from Australia, Canada, Germany, France, Italy, Japan, the United Kingdom, and the European Commission, to launch the Russian Elites, Proxies, and Oligarchs (REPO)...
Call Center Operators charged with fraud in $58 million penny stock scheme
Washington D.C. – The Securities and Exchange Commission today announced fraud charges against five individuals for allegedly operating a call center in Medellin, Colombia, which used high pressure sales tactics and made false and misleading statements to retail investors to convince them to buy the stocks of small companies trading in the U.S. markets.
According to the SEC’s complaint, filed...
Two Defendants Plead Guilty in a Nationwide Racketeering Conspiracy Targeting the Elderly
San Diego (CA) – Two defendants charged in a nationwide “grandparent scam” have pleaded guilty to conspiracy charges under the Racketeer Influenced and Corrupt Organizations (RICO) Act.
Jack Owuor, 25, of Paramount, California pleaded guilty in federal court today. Timothy Ingram, 29, of North Hollywood, California, pleaded guilty on March 2, 2022.
According to court documents, the defendants were members and...
Hadari Oshri deactivates LinkedIn account following PPE exposé
AN IMPORTANT NOTE: On June 22, 2021, Hadari Oshri –Marc Lubaszka’s business partner– filed a frivolous civil harassment restraining order (CHRO) against Investor News reporter Aitana Vargas to stop the publication of her investigative series “A Special Report: The Harrowing Impunity of White-Collar crime,” and any subsequent installments or future media coverage. On August 3, 2021, Vargas filed an...
SEC Charges Siblings in $124 Million Crypto Fraud Operation that included Misleading Roadshows, YouTube Videos
Washington D.C., March 8, 2022 — The Securities and Exchange Commission today charged siblings John and JonAtina (Tina) Barksdale with defrauding thousands of retail investors out of more than $124 million through two unregistered fraudulent offerings of securities involving a digital token called “Ormeus Coin.”
According to the SEC’s complaint, from June 2017 through the present, the Barksdales offered and...
SEC Charges Venture Capital Fund Adviser with Misleading Investors
Alumni Ventures Group, LLC Repays $4.7 Million
Washington D.C. — The Securities and Exchange Commission today charged venture capital fund adviser Alumni Ventures Group, LLC (AVG) with making misleading statements about its management fees and engaging in inter-fund transactions in breach of fund operating agreements. The SEC also charged AVG’s CEO, Michael Collins, with causing AVG’s violations. To settle the...
City National Rochdale to Pay More Than $30 Million for Undisclosed Conflicts of Interest
Harmed Investors to Receive Amounts Recovered
Washington D.C., — The Securities and Exchange Commission today announced that registered investment adviser City National Rochdale, LLC (CNR) has agreed to pay more than $30 million to settle charges that its undisclosed conflicts of interest defrauded current and prospective clients. The money CNR pays will be placed into an SEC Fair Fund for...
U.S. Secret Service Launches Cryptocurrency Awareness Hub
Washington – The U.S. Secret Service has launched a cryptocurrency public awareness hub featuring a new public service announcement video and information on the security of digital assets and cryptocurrencies.
The new website will feature the latest in the agency’s work combating illicit use of digital assets as well as provide public awareness information on digital asset security and how...