RESS RELEASE
Ford Motor Company will pay the United States $365 million to resolve allegations that it violated the Tariff Act of 1930 by misclassifying and understating the value of hundreds of thousands of its Transit Connect vehicles.
The
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China raises state chip investment by $27 billion which will increase capacity to catch up on cutting edge chips
According to an excellent article in the Economist, China is reportedly raising more than US$27bn for the third phase of its National Integrated Circuit Industry Investment Fund. This is the state-owned investment fund backed by China’s finance ministry and state-owned enterprises. This is an example of China’s new special...
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SEC charges TallGrass Energy former Board member Roy Cook and four others with insider trading just before Blackstone acquisition
The Securities and Exchange Commission announced insider trading charges against Roy Cook, a former board member of Tallgrass Energy LP, and four of his friends for trading on material nonpublic information in advance of a...
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SEC charges Skechers with making undisclosed payments to Execs family members and it will pay $1.25 Million
The Securities and Exchange Commission has announced that Skechers U.S.A. Inc., a footwear company based in California, agreed to settle charges for failing to disclose payments for the benefit of its executives and their immediate family members. Skechers agreed to pay a...
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Intel stands to make $3.5 Billion for semiconductors for military and intelligence programs
The U.S. government is likely to invest $3.5B in Intel to allow the company to make advanced semiconductors for military and intelligence programs, Bloomberg News reported citing congressional aides. The funds are now in a spending bill the House passed on Wednesday, would set Intel as a commanding local player in the defense...
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Justice Department engages pilot program to pay whistleblowers revealing corporate crime
The Justice Department is launching a new pilot program to reward whistleblowers who tell prosecutors about corporate crime, adding a new incentive to attract more tipsters to aid the government.Tipsters will be paid some of money that defendants forfeit when they settle criminal...
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Chinese national residing in California arrested for theft of artificial intelligence related trade secrets from Google
A federal grand jury has indicted Linwei Ding, aka Leon Ding, charging him with four counts of theft of trade secrets in connection with an alleged plan to steal from Google LLC (Google) proprietary information related to artificial intelligence (AI) technology. The announcement was made by Attorney General...
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Generic pharmaceutical maker KVK research Inc. pleads guilty to distributing adulterated drugs and pays $1.5 Million crminal penalty and $2 million to settle False Claims Act case
KVK Research Inc., a generic drug manufacturer in Bucks County, Pennsylvania, pleaded guiltyto criminal charges that it introduced adulterated drugs into interstate commerce. In a criminal information filed in federal court in Philadelphia charged KVK Research and its corporate affiliate, KVK Tech Inc., with two misdemeanor...
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Advanced Micro Devices will reportedly need export license for AI Chips tailored for China
Advanced Micro Devices (AMD) has been told by U.S. officials that the chips it has designed are still too powerful to sell to China and that the company will have to obtain a license from the Commerce Department to sell the...
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Russian international money launderer pleads guilty to procuring U.S. manufactured military grade microelectronics for Russian entities
Defendant Maxim Marchenko Participated in Overseas Illicit Procurement Network That, After Russia’s Invasion of Ukraine, Illegally Procured Large Quantities of Dual-Use, Military Grade Organic Light-Emitting Diode (OLED) Micro-Displays which have application for riflescopes, night vistion goggles, thermal optics and other weapons systems.
Maxim...
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