Reported by Bloomberg News For years, Artem Uss had appeared in Russian media as the owner of fancy real estate, luxury cars and Italian hotels. Now US officials allege he’s at the center of a suspected secret supply chain that prosecutors say used American technology to support President Vladimir Putin’s war in Ukraine. Court documents […]
Reported by Angela Berkowitz, Brendan Blake, Benjamin Halper, Jennifer Burns Luz, Jonathan Shapiro, and Marco Wong On February 3, 2023, in the matter In re Tesla Inc. Securities Litigation, Case No. 3:18-cv-04865, a California federal jury cleared Tesla, Inc. (Tesla), and CEO Elon Musk of claims that they committed securities fraud, causing investors to suffer losses […]
Reported by Joseph Menn An exiled Chinese tycoon indicted in New York earlier this month in a billion-dollar fraud case controls the conservative social media platform Gettr and used it to promote cryptocurrencies and propaganda, former employees have told The Washington Post. They said the arrested expatriate, Guo Wengui, and his longtime money manager, William […]
Reported by Gabrielle Fonrouge and Dan Mangan A former fugitive in the securities fraud case involving a New Jerseydeli company once valued at $100 million renounced his U.S. citizenship in 2019, prosecutors revealed Thursday as they asked a judge to deny him bail. Peter Coker Jr. “poses a serious risk of flight, and … there are no conditions or combination thereof that […]
Reported by Marianna Parraga CARACAS, March 25 (Reuters) – An expanding anti-corruption probe in Venezuela has led to the detention of 10 officials and 11 businessmen, the country’s attorney general said on Saturday, adding that arrest warrants for 11 more people have been issued. The investigation, which began in October, is focused on state oil […]
Reported by Dana Kennedy On Monday, the Grammy-winning Pras Michel, 50, goes on trial in a Washington, DC, federal court as a key figure in a complex, multi-billion dollar global finance and political influence conspiracy involving two foreign nationals: Jho Low, a flashy Malaysian billionaire with ties to China, and Guo Wengui, the exiled Chinese […]
Reported by Thomas Georges The bipartisan Corporate Transparency Act (CTA), which requires anonymous companies and other entities registered in the U.S. to report identifying information on their true, “beneficial” owners, is under serious threat of being weakened by a combination of flawed rulemakings and a draft information intake formreleased by Treasury that could make reporting functionally optional under […]
Reported by Steven Stradbrooke Coinbase (NASDAQ: COIN) says it has been warned by the U.S. Securities and Exchange Commission (SEC) to expect imminent legal action for violating federal securities laws. On Wednesday, Coinbase disclosed that it had received a Wells notice from SEC staff regarding a “preliminary determination” that the regulator should “file an enforcement action” against the digital asset […]
Reported by Rohan Goswami and MacKenzie Sigalos Shares of Jack Dorsey’s Block plunged 16% after short seller Hindenburg Research announced Thursday that the payment company was its latest short position, alleging that Block allowed criminal activity to operate with lax controls and “highly” inflates Cash App’s transacting value user base, a key metric of performance. […]
Reported by Bloomberg News Russia’s gold holdings jumped by 1 million troy ounces over the last year as the central bank bought the metal amid sanctions on its reserves imposed by the US and its allies over the invasion of Ukraine. The Bank of Russia said it held 74.9 million ounces of gold at the […]
Financial Crime News Briefs 