The Securities and Exchange Commission today announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than $345 million from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze and the appointment of a receiver.
Blog
The SEC's whistleblower program has now awarded approximately $322 million to 58 individuals since issuing its first award in 2012. In that time, more than $1.6 billion in monetary sanctions have been ordered against wrongdoers based on actionable information received by whistleblowers.
The Chevrolet Colorado ZR2 is supposed to be a rough-and-tumble, body-on-frame, solid rear axle-having pickup that can handle off-road trails with ease. And yet, a number of trucks' airbags are deploying on mild off-road trails, leaving owners with major hassles. Here's what's going on.
General Motors Co (GM.N) is recalling 1.205 million pickup trucks and sport utility vehicles worldwide due to issues with a temporary loss of power steering, the No.1 U.S. automaker said on Thursday.
The Securities and Exchange Commission today announced that Connecticut-based United Technologies Corporation will pay $13.9 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) by making illicit payments in its elevator and aircraft engine businesses.
Attorney General George P. Jepsen announced Tuesday his office is suing the co-defendants under the state's False Claims Act for three times the $10.9 million in losses it claims to have suffered from the fraud.
Talk about a bad break. General Motors is issuing a recall on 210,628 vehicles in the United States and 19,385 vehicles in Canada due to a soft, spongey brake pedal. The recall impacts hundreds of thousands of 2018 and 2019 models of Chevrolet Bolt, Cruze, Equinox, Impala, Malibu, and Volt as well as Buick Cadillac XTS, LaCrosse, Regal; and GMC Terrain. The full list of car models being recalled can be found here.
James C. Katzman, a Goldman partner and the leader of its West Coast mergers-and-acquisitions practice, dialed the bank's whistle-blower hotline in 2014 to complain about what he regarded as a range of unethical practices, according to accounts by people close to Mr. Katzman
Former Volkswagen boss Martin Winterkorn was slow to address emissions test cheating that led to huge U.S. fines, a judge hearing a damages case brought by investors against the German carmaker said on Tuesday.
The Securities and Exchange Commission today charged a group of 10 individuals and 10 associated entities for their participation in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left holding virtually worthless stock.
In one of those denials, the agency said allowing whistleblowers to recover funds both under its program and a separate program for the same action "would produce the irrational result of encouraging multiple 'bites of the apple' in adjudicating claims for the same action."
Ford Motor Co said on Thursday it would recall 2 million F-150 pickup trucks in North America to address fire concerns relating to seat belts that have been linked to three serious incidents.
If markets weren't bouncing because of presidential tweets, global debt, trade wars, coming elections and Senate hearing circuses, then they got another push this week from a top JPMorgan Chase & Co. analyst who says a stock crash spurred by electronic trading could unleash social upheaval not seen since 1968.
The government's early prosecution of the crime has faced a big setback. In just the second trial for spoofing, which the Dodd-Frank Act outlawed, a Connecticut jury acquitted a former trader at UBS of spoofing this spring. That raised questions about whether prosecutors can pursue these cases.
Dutch bank ING Groep NV admitted criminals had been able to launder money through its accounts on Tuesday and agreed to pay 775 million euros ($900 million) to settle the case.
Nissan Motor Co. said today it is is recalling about 166,000 vehicles in North America because a defective ignition switch can affect the safe operation of airbag systems when an engine closes off while driving.
German carmaker Volkswagen said only half of its VW branded passenger car models in Germany are compliant with a new pollution standard, thanks to a much tougher emissions testing regime.
BNP Paribas personnel deliberately traded to move the ISDAfix benchmark in a direction at the precise time it was being set, says the CFTC.
Insider trading cases are sometimes as simple as a well-timed phone call warning an investor to bail on a stock ahead of impending bad news.
The settlements announced today resolve allegations brought in a whistleblower action filed under the False Claims Act in the U.S. District Court for the Eastern District of Texas by Stephen Dean.
