No, Walmart and Litecoin Are Not Partnering

Litecoin and other digital currencies jumped by as much as 30 percent after the announcement, which was republished as legitimate by media companies.

#businesswire, #hoaxes-and-pranks, #securities-and-commodities-violations, #securities-and-exchange-commission, #shopping-and-retail, #thomson-reuters-corporation, #twitter, #virtual-currency, #walmart-stores-inc

Google Could Be Violating Labor Laws With Pay for Temp Workers

The company realized months ago that it could be running afoul of pay laws in a number of countries but has been slow to fix the problem, according to internal documents.

#adecco-sa, #alphabet-inc, #australia, #brazil, #canada, #computers-and-the-internet, #europe, #far-east-south-and-southeast-asia-and-pacific-areas, #google-inc, #labor-and-jobs, #mexico, #outsourcing, #regulation-and-deregulation-of-industry, #securities-and-commodities-violations, #securities-and-exchange-commission, #temporary-employment, #wages-and-salaries

Schemer or Naïf? The Trial of Elizabeth Holmes

The trial for the founder of Theranos, the once high-flying blood testing start-up, will cap a saga of Silicon Valley hubris, ambition and deception.

#balwani-sunny, #boards-of-directors, #computers-and-the-internet, #entrepreneurship, #ethics-and-official-misconduct, #holmes-elizabeth-1984, #legal-profession, #medical-devices, #securities-and-commodities-violations, #start-ups, #tests-medical, #theranos-inc

A Skeptical Stock Analyst Wins Big by Seeking Out Frauds

The activist short-seller behind Hindenburg Research has become known for research that sends companies’ stock sinking. He says he’s not in it just to move share prices.

#block-carson-c, #citron-research, #draftkings-inc, #electric-and-hybrid-vehicles, #hedge-funds, #hindenburg-research, #left-andrew-e-1970, #lordstown-ohio, #lordstown-motors-corp, #manhattan-nyc, #muddy-waters-research, #nikola-motor-co, #ponzi-and-pyramid-schemes, #securities-and-commodities-violations, #securities-and-exchange-commission, #short-selling, #special-purpose-acquisition-companies-spac, #stocks-and-bonds, #university-of-connecticut, #whistle-blowers

U.S. Sells One-of-a-Kind Wu-Tang Album to Cover Martin Shkreli’s Debt

Prosecutors did not announce who purchased the album, or for how much, but a lawyer for Mr. Shkreli said the sale price appeared to be at least $2.2 million.

#msmb-capital-management-llc, #msmb-healthcare-ltd, #once-upon-a-time-in-shaolin-album, #rap-and-hip-hop, #securities-and-commodities-violations, #shkreli-martin-1983, #turing-pharmaceuticals-ag, #wu-tang-clan

Emergent BioSolutions Faces Investor Revolt Over Botched Vaccines

In the latest shareholder lawsuit, a pension fund accused executives at Emergent BioSolutions of insider trading. The company, under investigation by Congress, has halted manufacturing of Covid-19 vaccines at its Baltimore factory at regulators’ request.

#baltimore-md, #coronavirus-2019-ncov, #drugs-pharmaceuticals, #el-hibri-fuad, #emergent-biosolutions-inc, #factories-and-manufacturing, #johnsonjohnson, #maryland, #securities-and-commodities-violations, #shareholder-rights-and-activism, #stocks-and-bonds, #suits-and-litigation-civil, #vaccination-and-immunization

Biotech Company That Botched Vaccines Faces Investor Revolt

In the latest shareholder lawsuit, a pension fund accused executives at Emergent BioSolutions of insider trading. The company, under investigation by Congress, has halted manufacturing of Covid-19 vaccines at its Baltimore factory at regulators’ request.

#baltimore-md, #coronavirus-2019-ncov, #drugs-pharmaceuticals, #el-hibri-fuad, #emergent-biosolutions-inc, #factories-and-manufacturing, #johnsonjohnson, #maryland, #securities-and-commodities-violations, #shareholder-rights-and-activism, #stocks-and-bonds, #suits-and-litigation-civil, #vaccination-and-immunization

Supreme Court Gives Goldman Sachs a Do-Over in Securities Fraud Suit

The justices said the bank may renew its arguments that its statements about honesty and integrity were too generic to support a class action for billions of dollars.

#appeals-courts-us, #banking-and-financial-institutions, #barrett-amy-coney, #conflicts-of-interest, #goldman-sachs-group-inc, #securities-and-commodities-violations, #stocks-and-bonds, #subprime-mortgage-crisis, #suits-and-litigation-civil, #supreme-court-us

Elon Musk Impostors Scammed $2 Million in Cryptocurrency, U.S. Says

Overall, nearly 7,000 investors lost $80 million in assorted cryptocurrency scams from October through March, according to a Federal Trade Commission report.

#bitcoin-currency, #dogecoin-project, #federal-trade-commission, #impostors-criminal, #musk-elon, #securities-and-commodities-violations, #virtual-currency

S.E.C. Chair Gensler Emphasizes Transparency in Markets

In a hearing focused on the frenzied trading of GameStop stock, the new S.E.C. chairman suggests more disclosure is needed.

#archegos-capital-management-llc, #banking-and-financial-institutions, #gamestop-corporation, #gensler-gary-s, #house-committee-on-financial-services, #house-financial-services-committee, #regulation-and-deregulation-of-industry, #robinhood-financial-llc, #securities-and-commodities-violations, #securities-and-exchange-commission, #stocks-and-bonds

Hollywood Actor Charged With Running Film-Distribution Ponzi Scheme

Zach Avery convinced clients, to the tune of $227 million, that he had a deal with HBO and Netflix that would help net them speedy 35 percent returns, the S.E.C. said.

#movies, #ponzi-and-pyramid-schemes, #securities-and-commodities-violations

Penny Stocks Are Booming, Which Is Good News for Swindlers

Retail investors see the tiny companies as the next big opportunity after meme stocks and cryptocurrency. But shares are an easy target for fraud.

#financial-industry-regulatory-authority, #penny-stocks, #securities-and-commodities-violations, #stocks-and-bonds

Wall Street’s Most Reviled Investors Worry About Their Fate

Short sellers — self-described financial detectives who make money when companies fail — were already worried about their success and safety. Then GameStop happened.

#enron-corp, #gamestop-corporation, #hedge-funds, #point72-asset-management-lp, #reddit-inc, #regulation-and-deregulation-of-industry, #securities-and-commodities-violations, #securities-and-exchange-commission, #short-selling, #social-media, #stocks-and-bonds

Jeff Immelt Oversaw the Downfall of G.E. Now He’d Like You to Read His Book.

The C.E.O. who followed Jack Welch tried, and failed, to revive the company’s stock price. He’s owning up to some of his mistakes now — and assigning some blame.

#bolze-stephen-r-1963, #executive-compensation, #executives-and-management-theory, #general-electric-company, #immelt-jeffrey-r, #securities-and-commodities-violations, #welch-john-f-jr

Lev Parnas, Giuliani Associate, Faces New Fraud Accusations

The Securities and Exchange Commission claimed in a lawsuit that Mr. Parnas and a business partner duped investors in a start-up called Fraud Guarantee.

#campaign-finance, #correia-david-p-1975, #frauds-and-swindling, #giuliani-rudolph-w, #impeachment, #parnas-lev, #securities-and-commodities-violations, #trump-ukraine-whistle-blower-complaint-and-impeachment-inquiry, #trump-donald-j, #united-states-politics-and-government

A GameStop Evangelist’s Videos Draw a Regulator’s Attention

Keith Gill was an early endorser of GameStop on his YouTube channel. But a regulator in Massachusetts wants to know about his day job.

#gamestop-corporation, #gill-keith-1986, #massachusetts-mutual-life-insurance-co, #regulation-and-deregulation-of-industry, #securities-and-commodities-violations, #stocks-and-bonds

A GameStop Ringleader’s Videos Draw a Regulator’s Attention

Keith Gill was an early endorser of GameStop on his YouTube channel. But a regulator in Massachusetts wants to know about his day job.

#gamestop-corporation, #gill-keith-1986, #massachusetts-mutual-life-insurance-co, #regulation-and-deregulation-of-industry, #securities-and-commodities-violations, #stocks-and-bonds

GameStop Stock Soars as Reddit Investors Take On Wall St.

GameStop shares have soared 1,700 percent as millions of small investors, egged on by social media, employ a classic Wall Street tactic to put the squeeze — on Wall Street.

#financial-brokers, #gamestop-corporation, #hedge-funds, #reddit-inc, #securities-and-commodities-violations, #short-selling, #social-media, #stocks-and-bonds

Deutsche Bank Said to Pay $100 Million Over Bribery Charges

The German lender will enter a deferred prosecution agreement to resolve charges stemming from its attempts to win business in places like China, according to a person familiar with the matter.

#bribery-and-kickbacks, #deutsche-bank-ag, #justice-department, #securities-and-commodities-violations

Cryptocurrency Company Ripple Facing an S.E.C. Lawsuit

Ripple, the company behind the third most valuable digital token, is expecting to be sued by regulators as cryptocurrency values skyrocket.

#larsen-chris-1960, #ripple-labs-inc, #securities-and-commodities-violations, #securities-and-exchange-commission, #virtual-currency

Robinhood Settles S.E.C. Charges Over Misleading Customers

Millions of investors have turned to Robinhood in recent years, lured by a sales pitch of no trading fees. The charges announced on Thursday apply to Robinhood’s disclosures from 2015 to late 2018, the regulator said.

#customer-relations, #regulation-and-deregulation-of-industry, #robinhood-financial-llc, #securities-and-commodities-violations, #securities-and-exchange-commission, #stocks-and-bonds

Ponzi Scheme Suspect Uses Underwater Scooter to Flee F.B.I.

After a chase, Matthew Piercey disappeared underwater using a submersible scooter, the authorities said. When he surfaced, agents were waiting with dry clothes his wife had provided.

#california, #crime-and-criminals, #diving-and-divers, #piercey-matthew, #ponzi-and-pyramid-schemes, #securities-and-commodities-violations, #submarines-and-submersibles, #winton-kenneth

Goldman Sachs Unit Pleads Guilty Over Fraud Scheme

All told, Goldman will pay billions in penalties and disgorgement in Malaysia, the United States and Hong Kong for its role in the looting of the 1Malaysia Development Berhad fund.

#1malaysia-development-berhad-1mdb, #banking-and-financial-institutions, #blankfein-lloyd-c, #bribery-and-kickbacks, #department-of-financial-services-nys, #goldman-sachs-group-inc, #justice-department, #leissner-tim, #low-jho-1981, #ng-roger, #politics-and-government, #securities-and-commodities-violations, #securities-and-exchange-commission

Samsung’s J.Y. Lee Faces New Charges

Lee Jae-yong stands accused of stock price manipulation and other offenses as he sought to tighten his control over the major corporate empire.

#decisions-and-verdicts, #lee-jae-yong-1968, #mergers-acquisitions-and-divestitures, #samsung-electronics-co, #samsung-group, #securities-and-commodities-violations, #stocks-and-bonds

Wirecard’s Ex-C.E.O., Markus Braun, Is Arrested in Germany

The payment company is ensnared in an accounting scandal after it admitted that $2 billion in its accounts probably did not exist.

#accounting-and-accountants, #braun-markus-1969, #germany, #securities-and-commodities-violations, #wirecard-ag

Supreme Court Limits S.E.C.’s Power to Recoup Ill-Gotten Gains

But the justices rejected a request that they rule the agency can never sue for disgorgement of profits obtained by fraud.

#foreign-investments, #securities-and-commodities-violations, #securities-and-exchange-commission, #sotomayor-sonia, #supreme-court-us, #thomas-clarence

Volkswagen Settles Emissions Charges Against Two Managers

The German carmaker will pay a relatively modest fine to resolve criminal cases involving the chairman and chief executive. They were accused of not warning shareholders about a looming scandal.

#bayerische-motorenwerke-ag, #diess-herbert, #environmental-protection-agency, #fines-penalties, #frauds-and-swindling, #fuel-emissions-transportation, #germany, #potsch-hans-dieter-1951, #securities-and-commodities-violations, #volkswagen-ag

Chinese Coffee Chain’s Scandal Renews U.S. Calls for Oversight

The implosion of a Chinese competitor to Starbucks has bolstered the cause of American politicians aiming to stop opaque Chinese companies from raising money in the U.S.

#accounting-and-accountants, #china, #coffeehouses, #communist-party-of-china, #company-reports, #frauds-and-swindling, #international-trade-and-world-market, #law-and-legislation, #luckin-coffee, #nasdaq-stock-market, #pensions-and-retirement-plans, #rubio-marco, #securities-and-commodities-violations, #stocks-and-bonds, #united-states-economy, #united-states-politics-and-government, #venture-capital