Reported by: Thomas Barrabi A fugitive charged over an alleged market manipulation scheme in which a small New Jersey deli mysteriously drew a $100 million valuation was arrested last week in Thailand, the feds confirmed Thursday. Peter Coker Jr., 54, had been on the lam since last September, when prosecutors slapped him, his father, Peter Coker Sr., […]
Reported by: Jonathan Richman The Second Circuit held yesterday that a government agency’s nonpublic, pre-decisional regulatory information does not constitute “property” for purposes of the federal insider-trading and wire-fraud statutes. The decision in United States v. Blaszczak (2d Cir. Dec. 27, 2022) (“Blaszczak II”) effectively vacated convictions under those statutes for defendants who had traded on nonpublic, market-moving information […]
Reported by: Serah Louis From Kim K to the Paul brothers, influencers are shelling out investing advice and touting risky tokens over social media and it’s often their young followers who are left paying the price if the market plunges. Bitcoin’s track record serves as an example of just how volatile that market can be. There’s […]
Reported by: U.S. Department of Justice A federal grand jury in the District of Maryland returned an indictment that was unsealed today charging two men for their roles in schemes to defraud investors in CytoDyn Inc., a publicly traded biotechnology company (OTCQB: CYDY) based in Vancouver, Washington. According to court documents, Nader Pourhassan, 59, of […]
Reported by: SEBASTIAN SINCLAIR&DAVID CANELLIS The US Securities and Exchange Commission (SEC) has long been a thorn in the side of the crypto ecosystem — and chairman Gary Gensler represents the very tip. Gensler’s SEC has been more prolific in its crypto cases this year. In January, Gensler directed staff to figure out how to get “these […]
Reported by: U.S. Securities and Exchange Commission The Securities and Exchange Commission today announced charges against The Hydrogen Technology Corporation, its former CEO, Michael Ross Kane, and Tyler Ostern, the CEO of Moonwalkers Trading Limited, a self-described “market making” firm, for their roles in effectuating the unregistered offers and sales of crypto asset securities called […]
Reported by: Department of Justice, U.S. Attorney’s Office, Northern District of California Oakland registered investment advisor was charged in a federal information filed today with securities fraud for trading upon non-public inside information, announced United States Attorney Stephanie M. Hinds and Federal Bureau of Investigation Special Agent in Charge Sean Ragan. According to the information […]
Reported by: InsuranceNewsNet Oppenheimer & Co., a New York-based brokerage and investment bank, was ordered to pay nearly $37 million in damages to 11 investors who lost money in a $110 million Ponzi scheme, allegedly conducted by two firms under the control of John Woods, a Marietta, Georgia resident. Woods, a long-time broker with Oppenheimer, […]
Reported by: Bloomberg Another Morgan Stanley executive whose communications were sought in a US probe into how Wall Street handles big stock trades has been placed on leave, amid a flurry of behind-the-scenes activity in the investigation. Authorities haven’t accused anyone of wrongdoing. Morgan Stanley is embroiled in the sprawling investigation examining how Wall Street […]
Reported by: Samantha Delouya Bed Bath & Beyond CFO Gustav Arnal was named in an insider trading lawsuit less than two weeks before he was found dead in an apparent suicide on Friday. The proposed class action lawsuit, filed on behalf of an individual investor Pengcheng Si, names Bed Bath & Beyond, Arnal, Ryan Cohen, […]
Financial Crime News Briefs 