By Jeffrey A. Newman, Esq. MBA with AI assistance
In the space of about eighteen months, three Chinese laboratories ran more than sixteen million conversations with an American artificial intelligence system through roughly twenty-four thousand fraudulently created accounts. A Chinese state-sponsored group jailbroke a different American AI and turned...
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Category: Securities and Exchange Commission Investigations
A special message to every single American business importing goods from China: don’t let your competitors win through evasion of U.S. customs tariffs
A direct message to owners, CEOs, presidents, CFOs, and heads of sales and trade compliance.
You already know. You have looked at a competitor’s price and known it was not possible. Not aggressive — impossible. Not a thinner margin, not a better freight contract, not a smarter factory. A...
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Franklin’s Western Asset Management settles SEC case for $100 million regarding bond investor Ken Leech
By Jeffrey Newman Esq. MBA
Western Asset Management, part of Franklin Templeton, has agreed to pay a $100m civil penalty to settle a US Securities and Exchange Commission (SEC) investigation linked to former bond investor Ken Leech. Longtime bond investor Ken Leech, 72, pleaded guilty in connection with a...
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Coinbase is expanding its legal team, hiring Christian Sabello, recent Director at the SEC, who joins Coinbase as head of cryptocurrency exchange’s capital markets work
Coinbase, the first major cryptocurrency broker to go public with an opening day valuation on the Nasdaq, is expanding its legal team, perhaps in anticipation of increased regulation by the US and other nations. It has hired Christian Sabella, who was recently acting director of the U.S. Securities and Exchange Commission’s Division...
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Securities & Exchange Commission files major suit against BitConnect promoters for $2 billion digital currency offering without proper registration
The Securities and Exchange Commission filed a lawsuit Friday in federal court in Manhattan alleging that five individuals promoted a global unregistered digital asset securities offering that raised over $2 billion from retail investors.
According to the SEC's complaint, filed in the United States District Court for the Southern...
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Insider trading lawsuit being prepare against Eastman Kodak and execs
AN insider-trading lawsuit is apparently being prepared against Eastman Kodak and its top execs relating to stock buys and...
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Record number of individuals scammed by cybercriminals over sale of cryptocurrency
Scams of with fraudulent offers of cryptocurrency investments have spiked heavily according to the Federal Trade Commision. Nearly 7,000 people reported losses of more than $80 million from October through...
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Securities and Exchange Commission awards $22 million to two whistleblowers for revealing securities violations
The Securities and Exchange Commission today announced awards totaling approximately $22 million to two whistleblowers whose information and assistance were of crucial importance to successful SEC enforcement actions brought against a financial services firm.
The first whistleblower received an award of $18 million, while the second whistleblower received a $4 million award. The larger award...
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Under Armour pays $9 million to end charges is misled investors about sales growth to meet analysts’ revenue targets
Under Armour will pay $9 million to settle...
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Securities and Exchange Commission charges investment advisor with defrauding sports clients for undisclosed fees and high risk investments
The Securities and Exchange Commission charged Douglas Elstun, an investment advisor serving pro athletes, with defrauding his clients with undisclosed fees and misleading them about a high-risk investment strategy. Elston operated registered investment advisor (RIA) Crossroads Financial Management and billed clients annual fees as high as 1.25% of assets under management, above the 1%...
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