‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInFake hedge fund manager pleads guilty to securities fraud | New York Post
Scronic, 46, on Thursday pleaded guilty to securities fraud, admitting that he defrauded 45 investors — many of them pals — out of $22 million while running his fake hedge fund from his home. In seven-plus years of running the scam, Scronic posted only one positive quarter, court papers reveal. via Fake hedge fund manager […]
Mossack Fonseca to close doors at end of month – The FCPA Blog – The FCPA Blog
The law firm whose leaked files became known as the Panama Papers said it will shut down at the end of this month. Mossack Fonseca said in a statement it will close because of “irreparable damage” to its reputation. via Mossack Fonseca to close doors at end of month – The FCPA Blog – The FCPA […]
Will the Theranos ‘indirect’ investor lawsuit break new legal ground?
The SEC’s complaint against Theranos and Holmes focused on alleged lies to investors who put money directly into the company. Those insiders were only part of the market for Theranos, though. To the extent the company’s multibillion-dollar valuation reflected investor demand for a stake in Theranos’ purportedly revolutionary – and widely publicized – technology for […]
Corporate Fraud Gatekeepers ‘In an Impossible Position’
Here’s the thing about corporate fraud: It’s kind of like trying to play hide and seek in a yurt. There’s really nowhere to hide. Someone has their eyes on the situation, and often, that someone is a gatekeeper. At least, that’s how things are supposed to work. Now, given a recent decision from the United […]
Feds Seek Third Try at Mazzo | Orange County Business Journal
Justice Department lawyers said this week they plan to try medical-device executive Jim Mazzo for a third time for violating insider trading rules after two prior efforts ended in hung juries. 10 of 12 jurors in Mazzo’s second mistrial in February favored acquitting him on at least 19 of 20 counts. In May 2017 in […]
SEC called Theranos fraud ‘massive’ — but didn’t get the company or its founder to admit guilt – MarketWatch
The Securities and Exchange Commission on Wednesday said Theranos committed a “massive” financial fraud, “raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance.” What the SEC did not get from either Theranos or company founder Elizabeth […]