Daily Archives: October 12, 2018, 9:03 am

Ponzi scheme suspect paid $720K for prayers amid SEC probe – Beaumont Enterprise

An investment adviser charged with orchestrating a multimillion-dollar Ponzi scheme spent nearly three-quarters of a million dollars on prayers by Hindu priests in India to ward off a federal investigation and save her failing business, according to testimony at her trial this week. Using investors’ money, Dawn Bennett paid a man in Washington state approximately $720,000 between 2015 and 2017…

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SEC Chair Jay Clayton Says Quarterly Reporting Won’t Change ‘Anytime Soon’ – WSJ

In the near term, public companies won’t get a break from quarterly earnings reporting, an idea that President Trump asked U.S. regulators to study. The Securities and Exchange Commission may weigh the idea of moving to six-month reporting for smaller firms, but “I don’t think quarterly reporting is going to change for our top names anytime soon,” SEC Chairman Jay…

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