SEC

Texas man made $1.76 million from insider trading by eavesdropping on wife’s business calls, Justice Department says

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[ad_1] A man from Houston overheard his work-from-home spouse talking business, and used that information to make over $1.7 million in an insider trading scheme, federal authorities said. Tyler Loudon, 42, pleaded guilty Thursday to securities fraud for buying and selling stocks based on details gleaned from his wife’s business conversations while both were working … Read more

Hex crypto founder used investor funds to buy $4.3 million black diamond, SEC says

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[ad_1] Cryptocurrency influencer Richard Heart defrauded investors of millions he obtained through the illegal sale of unregistered crypto asset securities, which he then used to make extravagant purchases, the Securities and Exchange Commission claims. The YouTuber misappropriated at least $12 million in investor funds, according to the lawsuit filed Monday, funds that he raised through his crypto … Read more

SEC sues crypto giant Binance, alleging it operated an illegal exchange

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[ad_1] The U.S. Securities and Exchange Commission on Monday sued Binance and its CEO, Changpeng Zhao, alleging the cryptocurrency company was effectively operating an illegal exchange and diverted investors’ funds into a trading entity controlled by Zhao. The lawsuit, filed Monday in federal court in Washington, D.C., claims Binance ran its trading operations without registering … Read more

Startup founder Charlie Javice arrested, charged with faking data on 4 million customers

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[ad_1] Charlie Javice, the 31-year-old founder of now-shuttered student loan software company Frank, has been arrested by law enforcement authorities after being charged with fraud by federal prosecutors.  Javice, whom Forbes named a rising star in its “30 under 30” issue in 2019, was arrested in New Jersey on Monday, the U.S. Department of Justice announced on … Read more

SEC charges Frank founder Charlie Javice with fraud in connection with 4 million fake clients

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[ad_1] Charlie Javice, the 31-year-old founder of now-shuttered student loan software company Frank, has been charged with fraud by the Securities and Exchange Commission. The SEC filed a complaint Tuesday alleging that Javice lied about having data on 4 million clients, including making up fake client information, in order to entice JP Morgan Chase to … Read more

Abbott faces SEC investigation over infant formula debacle

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[ad_1] Abbott Laboratories is facing investigations by the Securities and Exchange Commission and the Federal Trade Commission (FTC) in connection with its formula business, the company revealed in a recent SEC filing.  The developments are the latest in a series of inquiries into the factors that precipitated the company’s Michigan factory shutdown and kickstarted a … Read more