Whistleblower News: McKinsey, SoftBank, Overstock, Manipulative Trading11/13/2019
McKinsey Faces Criminal Inquiry Over Bankruptcy Case Conduct
NEW YORK TIMES
Prosecutors are examining the consulting company’s behavior in at least two bankruptcy cases.
McKinsey & Company, the elite consulting firm that advises many of the world’s largest and most powerful institutions, is facing a federal criminal investigation of its conduct advising bankrupt companies, according to five people familiar with the matter. read more »
The SoftBank Effect: How $100 Billion Left Workers in a Hole
NEW YORK TIMES
SoftBank poured money into start-ups that use armies of contractors. That has upended the lives of drivers, hotel operators and real estate agents around the world.
The New York Times reviewed contracts and internal company documents, and interviewed more than 50 workers with SoftBank-funded start-ups like Oyo, the delivery firm Rappi and the real estate brokerage Compass in places such as Chicago, New Delhi, Beijing and Bogotá, Colombia. What emerged was a pattern that repeated across the world: a distinctly modern version of the bait-and-switch. read more »
Overstock says SEC subpoenaed it in Oct
SEC Wins Jury Trial in Layering, Manipulative Trading Case
SECURITIES AND EXCHANGE COMMISSION
Jurors in New York federal court returned a verdict in the Securities and Exchange Commission's favor against a trading firm headquartered in Kiev, Ukraine, and two individuals for their roles in an unlawful trading scheme that generated more than $25 million in illicit profit. read more »