A growing number of small-cap companies are announcing plans to go after naked short sellers, claiming their stocks are being artificially depressed by illegal trading activity. Verb Technology Co. In...
Tag: Securities fraud
Opinion: Opinion: FTX was a warning. We must plug the other holes in the Swiss cheese.
FTX’s unraveling should not have come as any great surprise. When an unregulated market like crypto is opened to financial novices, mistakes are bound to be made and fraudsters are sure to take advant...
A Reckoning for Crypto and FTX
To the Editor:I’ve been hoping for some sort of catalyst that would implode the crypto market, and it has finally happened (“The Crypto Ice Age Is Here. What’s Ahead for Bitcoin and the Stocks,” Dec. ...
Bank of England calls for ‘urgent’ global action after near-collapse of UK pension funds
LONDON, February 03: Governor of the Bank of England Andrew Bailey leaves after a press conference at Bank of England on February 3, 2022 in London, England. Dan Kitwood | Getty Images News | Getty Im...
Kim Kardashian, Floyd Mayweather crypto scam lawsuit dismissed
Kim Kardashian attends the CFDA Fashion Awards in Manhattan, New York City, November 7, 2022. Andrew Kelly | Reuters A federal judge on Wednesday dismissed a proposed class action lawsuit by investors...
Trump Organization, owned by Donald Trump, convicted in tax fraud case
Two subsidiaries of the Trump Organization were convicted Tuesday by a jury in New York City of multiple crimes, including tax fraud, falsifying business records and conspiracy. The guilty verdicts on...
Fake billionaire Justin Costello co-defendant settles SEC complaint
Zoom In IconArrows pointing outwards FBI Poster for Justin Costello FBI The Securities and Exchange Commission has agreed to settle a civil lawsuit against a man accused of five separate penny stock p...
Here’s what the Wells Fargo cross selling scandal means for the bank
Wells Fargo is one of the oldest and most powerful banks in the United States. Its reputation today is in tatters, following a notorious scandal that is still unfolding. Reports of fraudulent activity...
Nikola NKLA founder Trevor Milton found guilty of fraud
Trevor Milton CEO of Nikola Massimo Pinca | Reuters Trevor Milton, the founder and former chairman and CEO of electric heavy truck maker Nikola, was found guilty in federal court Friday of three of fo...
FBI found gold, cash on fake billionaire fugitive Justin Costello
Prosecutors on Tuesday asked a California federal judge to jail without bail a recent fugitive accused of a brazen $35 million fraud that involved him falsely telling investors he was a billionaire, a...
$100 million NJ deli case: Defendants plead not guilty
Your Hometown Deli in Paulsboro, N.J. Google Earth CAMDEN, N.J. – Two men charged in an alleged stock-manipulation scheme involving a small-town New Jersey deli pleaded not guilty Tuesday morning. Pet...
Nikola Founder Trevor Milton Hangs Legal Defense on Expert Testimony
Updated Oct. 4, 2022 3:02 pm ET Listen to article (2 minutes) Lawyers for Trevor Milton are anchoring the Nikola founder’s defense against securities-fraud charges on the testimony of a Harvard profes...
Nikola Tries to Ignite Market for Its Hydrogen Fuel-Cell Trucks
As Nikola founder stands trial on securities-fraud charges, a revamped management team is pushing to make the company the first to market hydrogen-powered commercial trucks in the U.S.—and to overcome...
Nikola CEO Tells Jurors He Worried About Exaggerations by Company Founder Trevor Milton
Nikola CEO Mark Russell told a New York federal jury Monday that he had concerns about joining the electric-truck company because he believed its founder, Trevor Milton, “was prone to exaggeration in ...
Nikola Founder Faces Securities-Fraud Trial Over Promises About Electric Trucks
Trevor Milton, the Nikola founder who enticed auto-industry leaders and investors with his promise for a revolution in electric trucks, faces a securities-fraud trial beginning this week on allegation...
She called herself the Mother Teresa of Florida small-business lending, but investigators say she was really running a $194 million Ponzi scheme
Johanna Garcia claimed her merchant cash-advance business was so helpful to small businesses in Florida that she was like the Catholic saint Mother Teresa. But to the 15,400 investors who sank $194.1 ...
Ex-Advisor Sentenced to 22 Years in Prison for Ponzi Scheme
A former financial advisor was sentenced to nearly 22 years in prison for operating a Ponzi scheme that swindled $9.3 million from investors, according to the U.S. Attorney’s Office for the Northern D...
EU agrees to deal on landmark MiCA cryptocurrency regulation
Bitcoin is a volatile asset, and has been known to swing more than 10% higher or lower in a single day. Jakub Porzycki | Nurphoto | Getty Images EU officials on Thursday secured an agreement on what i...
North Korea likely behind $100 million Horizon crypto hack: Experts
A photo illustration showing the North Korean flag and a computer hacker. Budrul Chukrut | Sopa Images | Lightrocket | Getty Images North Korean state-sponsored hackers were likely the perpetrators of...
Dogecoin investor sues Elon Musk, Tesla, SpaceX for $258 billion, claiming ‘pyramid scheme’
A dogecoin investor is suing Elon Musk and two of his companies, Tesla Inc. and SpaceX, for $258 billion, accusing them of operating a “pyramid scheme” to inflate the price of the cryptocurrency. The ...
US SEC Charges Allianz Global Investors with Multibillion-Dollar Fraud
On Tuesday, the US Securities and Exchange Commission (SEC Securities and Exchange Commission (SEC) The Securities and Exchange Commission (SEC) is one of the most widely known independent authoriti...
Tax investigators identify potential $1 billion crypto Ponzi scheme, reports say
International tax officials have identified more than 50 leads to potential crypto tax crimes that may lead to official investigations in the coming weeks, including one case that could be a $1 billio...
Crypto exchange Binance wins regulatory approval in France
Binance CEO Changpeng Zhao gave a keynote at a Paris crypto industry event in April 2022 to debut a new accelerator program for so-called “Web3” start-ups. Benjamin Girette | Bloomberg | G...
SEC adds to cryptocurrency regulation staff
Gary Gensler Simon Dawson | Bloomberg | Getty Images The Securities and Exchange Commission announced Tuesday that it will almost double its staff responsible for protecting investors in cryptocurrenc...
The Hazards Of Investing In $100 Oil: Part I
American actor Larry Hagman as J.R. Ewing, in the television series, ‘Dallas.’ (Photo by Hulton … [+] Archive/Getty Images) Getty Images Investors are always looking for ways to cash...
Why naked short selling has suddenly become a hot topic
Short selling can be controversial, especially among management teams of companies whose stocks traders are betting that their prices will fall. And a new spike in alleged “naked short selling” among ...