Daily Archives: October 25, 2017, 9:07 pm

Former Apollo Partner Ali Rashid Busted for Fraud—Again | Observer

Mohammad Ali Rashid, a former senior partner at private equity firm Apollo Management L.P., is charged with using his clients’ fund to pay for personal expenditures, the Securities and Exchange Commission (SEC) said today. The SEC said in a press release that Rashid secretly billed his clients for approximately $290,000 for family vacations, hair salon visits, and purchasing designer clothing—including…

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SEC ignored years of warnings about cybersecurity before massive breach – The Washington Post

For years before the Securities and Exchange Commission suffered a massive breach last year, federal watchdogs had warned the agency to encrypt the sensitive financial data stored in its networks. The Government Accountability Office delivered the admonition most recently in July, a month before the SEC’s leadership learned of the 2016 hack. But the agency’s advice to the SEC on…

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