Lawyers for FTX founder and former CEO Sam Bankman-Fried have refused to accept a subpoena for the disgraced cryptocurrency magnate to appear before the Senate Banking Committee, the Democratic and Republican leaders of the panel said Monday. In a Monday statement, Senate Banking Committee Chairman Sherrod Brown and ranking Republican Sen.
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—SEC charges Samuel Bankman-Fried with defrauding FTX investors, diverting funds to its investment arm, Alameda research.
A husband and wife from the Pee Dee have pleaded guilty to stealing almost half a million dollars in COVID-19 relief money through an elaborate identity fraud scheme, the U.S. Attorney’ s Office for South Carolina announced Thursday. Mohammad Ribhi Farraj and Nariman Mahmoud Masoud, from Florence, pleaded guilty in South Carolina federal court, along with…
In addition, UCB Financial Advisors president Lina Maria Garcia, 50, is suspended from the financial services industry for a year while director Ramiro Jose Sugranes, 59, is banned from the industry. READ MORE: SEC asset freeze, fraud charges for UCB Financial and directors. Sugranes registered UCB Financial Advisors with the state of Florida in 2005, a year…
The Wisconsin Office of the Commissioner of Insurance recently released a list of administrative actions for November. The actions are…
If convicted, Iakovou faces a maximum sentence of 20 years in prison and a $250,000 fine for the wire fraud charges and a maximum sentence of 10 years in prison and a $250,000 fine for the monetary transactions involving criminally derived property charges. Iakovou was previously charged by criminal complaint out of the Middle District of Georgia and taken…
Gautam Arora, 38, was charged with 11 felony counts of securities violations and money laundering, the California Department of Insurance said on Thursday. In reality, Arora misrepresented his financial status, which included overdrawn bank accounts, over $68,000 in credit card debt, and filed civil suits and orders to pay unpaid debts, according to an…
MEMPHIS, Tenn.– A rapper from Memphis who bragged about getting rich by scamming a COVID relief program in a music video will spend the next six years behind bars, the U.S. Attorney's Office Central District of California announced. 33- year-old Fontrell Antonio Baines, known as Nuke Bizzle, was sentenced Thursday to six years in federal prison and ordered to pay…
The state has lost an estimated $11 billion in fraudulent unemployment insurance payments due to the New York State Department of Labor's mismanagement, according to an audit by NYS Comptroller Thomas DiNapoli spanning Jan. 2020 to March 2022. According to the comptroller's office, the state had an average of $9.3 billion in loans from the federal UI trust…
The team is appealing a February ruling that said Mr. Trump did not enjoy presidential privileges in this situation and the lawsuits could proceed. Protesters aligned with Mr. Trump stormed the Capitol as lawmakers were attempting to certify the election results that sealed President Biden’ s victory. Mr. Trump indicated during his speech that his supporters…
TAMPA, Fla.– Florida State Representative Joseph Harding has been indicted on six counts of wire fraud, money laundering and making false statements, the U.S. Attorney's Office said Wednesday. On applications for Economic Injury Disaster Loans, Harding reportedly claimed The Vak Shack had over $420,000 in revenue in 2019, while Harding Farms had gross revenue…
Manhattan District Attorney Alvin Bragg said the investigation involving former President Trump is "ongoing" in the aftermath of his family organization being convicted of tax fraud. The testimony of former Chief Financial Officer Allen Weisselberg, who pleaded guilty to tax evasion in August as part of a deal with prosecutors, and Senior Vice President…
House lawmakers have dozens of questions for former FTX CEO Sam Bankman-Fried, whose cryptocurrency empire went bankrupt last month amid allegations of fraud. The leaders of the House Financial Services Committee are pushing Bankman-Fried to testify at a Dec. 13 hearing about the FTX collapse and speak to his role in the company's decline.
Insurance Commissioner Ricardo Lara announced that Essilor Laboratories of America, Inc. (Essilor) has agreed to a $23.8 million settlement in…
ST. LOUIS- Jeffrey Boyd, one of three former St. Louis City Board of Aldermen members indicted in a bribery scheme, has been sentenced to three years in federal prison. Boyd is one of three former St. Louis Aldermen facing prison time for their roles in the bribery and pay-to-play case. Former Board of Aldermen President Lewis Reed also faces sentencing, while a…
Chinese hackers with ties to the country's ruling Communist Party stole at least $20 million in U.S COVID-19 relief funds, the Secret Service said Monday. A hacking group known as APT41 consists of the first foreign, state-sponsored cybercriminals that the U.S. government has acknowledged as defrauding American pandemic relief funds, according to a report…
Donald Trump's company was convicted of tax fraud Tuesday for helping executives dodge taxes on lavish perks such as Manhattan apartments and luxury cars, in a significant repudiation of financial practices at the former president's business. Manhattan District Attorney Alvin Bragg said the verdict "underscores that in Manhattan we have one standard of…
TAMPA, Fla.— Florida Attorney General Ashley Moody announced that she is suing a Florida real estate company for "swindling" homeowners. Moody said she filed a complaint for injunctive and monetary relief against Florida- based MV Realty. According to Moody, MV Realty offered homeowners $300 to $5,000 as a cash loan alternative in exchange for an agreement to use…
A federal judge in California sentenced disbarred attorney Michael Avenatti to 14 years in prison Monday for wire fraud and a tax offense. District Judge James V. Selna ordered that Avenatti's term of imprisonment run consecutive to sentences totaling five years previously imposed in two federal cases in the Southern District of New York, "the office said.
