Day: September 27, 2022

Written by FinCrime

Chinese Authorities Crack Down on $5.6B Crypto-Related Money Laundering

Reported by: Pandaily Authorities in China’s Hunan province have recently busted a criminal group that used cryptocurrency to launder 40 billion yuan ($5.6 billion). The trade of digital currencies was banned in the country last September. Police in Hengyang, a county in China’s southern province of Hunan alleged that the criminal group had been buying cryptocurrencies […]

Written by FinCrime

SEC charges Cheetah Mobile executives with insider trading— purported 10b5-1 plan provided no defense

Reported by: Cydney Posner It may look like just another run-of-the-mill insider trading case, but there’s one difference in this settled SEC Enforcement action: according to the SEC, it involved sales under a purported 10b5-1 trading plan while in possession of material nonpublic information. As you probably know, to be effective in insulating an insider […]