A Chinese-born executive pleaded guilty on Wednesday in New York to three criminal counts in connection with a U.S. bribery probe involving a former U.N. General Assembly president.
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Attorneys with the U.S. Department of Justice informed a federal judge Monday that they need at least two more months to conduct a criminal fraud investigation into SeaWorld Entertainment Inc., court records show.
Michael Liberty advertised that Mozido, the start-up he founded which once boasted a valuation of $5.6 billion, would revolutionize mobile payments and bring financial services to 2 billion unbanked adults worldwide. But securities regulators claim Liberty hyped up Mozido while raising $55 million that mostly went into his own pocket.
The FT's Aliya Ram interviews Christopher Wylie and Shahmir Sanni, the two whistleblowers at the centre of the Facebook data breach outcry, about how the scandal broke and what it means for Facebook read more »
Two whistleblowers won a battle with the U.S. Internal Revenue Service over their share of $74 million they helped the agency to collect, marking a change that attorneys say could encourage more people to flag wrongdoing.
China accused the deal maker who bought the Waldorf Astoria hotel in New York of bilking investors of more than $10 billion, prompting him to issue a rare denial of guilt on Wednesday in a country where the courts almost always convict.
A scandal engulfing Facebook over the use of its data by political consultants widened on Tuesday when a whistleblower said Canadian company AggregateIQ had developed a program to target Republican voters in the 2016 U.S. election.
Regulators around the globe began work on replacements for Libor, the London interbank offered rate, well before the U.K.'s Financial Conduct Authority set to put the beleaguered interest-rate benchmark out of its misery. In the U.S., enter the Secured Overnight Financing Rate, or SOFR, a new reference rate being introduced next week by the Federal Reserve Bank of New York in cooperation with the U.S. Treasury Department's Office of Financial Research. The debut of SOFR is a critical step in a quest to wean more than $350 trillion of securities off Li
Alere Inc has agreed to pay $33.2 million to resolve claims it knowingly sold unreliable diagnostic testing devices to hospitals prior to its acquisition by Abbott Laboratories last year, the U.S. Justice Department said on Friday.
In fact, the SEC's whistleblower program is handing out its "highest-ever Dodd-Frank whistleblower awards" to two claimants that will share "nearly $50 million," and a third claimant that will get more than $33 million. Previously, the highest amount was a hefty $30 million paid out in 2014.
The Commodity Futures Trading Commission (CFTC) today announced that Judge Brian J. Davis of the Middle District of Florida has ordered Defendants Maverick International, Inc. (Maverick), and its principals Edward Rubin and Wesley Allen Brown to pay $8,605,274.92 in combined restitution and civil monetary penalties for commodity futures fraud, commodity pool fraud, and related violations of federal commodity laws.
The whistleblower who publicly revealed how Trump-affiliated data firm Cambridge Analytica used information mined from Facebook under false pretenses during the 2016 election cycle will give an interview to Democrats on the House Intelligence Committee as part of their investigation of Russian interference in the election, including possible ties to Donald Trump's campaign
The Securities and Exchange Commission today announced its highest-ever Dodd-Frank whistleblower awards, with two whistleblowers sharing a nearly $50 million award and a third whistleblower receiving more than $33 million. The previous high was a $30 million award in 2014.
That theory is about to undergo a critical test in a class action by indirect investors in, you guessed it, Theranos. Last month, shareholder lawyers at Hagens Berman Sobol Shapiro and Robbins Geller Rudman & Dowd filed a motion to certify a class of more than 200 investors who plunked down money in funds that owned shares of Theranos.
Political tribalism overrules common sense, even on bank regulation With the 10th anniversary of Bear Stearns' collapse coming up this week, leave it to Congress to find the perfect way to mark the occasion — by voting for another financial crisis. This effectively is what the Senate risked late Wednesday in approving, by a vote of 67 to 31, a revision of the Dodd-Frank financial reform law that weakens federal oversight of banks with up to $250 billion in assets.
Who is Haim Bodek? Haim was the first whistleblower to expose how a major stock exchange (Direct Edge) created an order type (Hide Not Slide) that provided HFT firms with unfair advantages that propelled them to the exchanges' best prices at investors' expense. Back in 2012, the financial media was all over this story and market structure savvy journalists like Scott Patterson were able to shine a light on these shady exchange practices. Scott's article "How "Hide Not Slide" Orders Work" was a virtual blueprint in how unsuspecting investors were getting ripped off by HFT traders who were armed with Direct Edge's special order type. Direct Edge was subsequently fined $14 million by the SEC for failing to properly describe order types.
Since the American civil war, the US government has relied on private whistleblowers to help it ferret out overcharging and other fraud by government contractors. Filed under the False Claims Act, these qui tam lawsuits allow individuals to sue on behalf of the federal government and then share in the proceeds if the claims hold up.
The Securities and Exchange Commission has charged a penny stock promoter based in Florida with defrauding investors in a pair of gold mining stocks by secretly amassing shares before touting the companies publicly.
Rosenberg is the fourth doctor jailed over Insys bribes following a federal probe that resulted in the indictment of billionaire founder and Chief Executive Officer John Kapoor and six other executives. The group was charged with orchestrating an elaborate scheme to bribe doctors and defraud health-care providers.
A one-time U.S. Justice Department lawyer, Wertkin came up with a plan to steal secret whistle-blower lawsuits and then sell the documents to the companies named in them because he believed his $450,000 salary at Washington's Akin Gump Strauss Hauer & Feld LLP undervalued him, a prosecutor told the judge during a sentencing hearing in San Francisco federal court.
