Daily Archives: June 27, 2019, 11:35 am

A Fraudster Loses to the SEC But Beats the Clock on Penalties – Bloomberg

Over the course of 12 years, Charles Kokesh quietly misappropriated more than $30 million from investors, a jury found in 2014. Kokesh, now 71, cultivated some expensive and unusual hobbies, such as importing Argentine polo ponies and participating in cowboy-style shooting competitions, according to trial testimony. But the really unusual part of the story is how the U.S. Supreme Court…

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Everything Everywhere Is Securities Fraud – Bloomberg

This is mostly a theory of U.S. law. It is also not an exactly accurate statement of U.S. law, and sometimes courts actually reject everything-is-securities-fraud theories, but it is a good practical tool for predicting whether a scandal at a U.S. public company will lead to a securities-fraud lawsuit. It always predicts that the answer will be “yes,” and the answer is always “yes.”…

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