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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInElizabeth Holmes Says Fraud Trial Unfair Since She Went Before Theranos’ Balwani – Bloomberg
Theranos Inc. founder Elizabeth Holmes asked for a new trial on the grounds that she was unfairly disadvantaged by being tried before her ex-boyfriend and Theranos President Ramesh “Sunny” Balwani. Facing a sentencing next month that could put her in prison for as much as a decade, Holmes has filed a flurry of long-shot motions […]
SEC to form a new office for crypto disclosures
The Securities and Exchange Commission will establish a new office for cryptocurrency filings. The office will be within the Division of Corporation Finance, which handles disclosures for publicly traded firms, said Cicely LaMothe, the associate director for disclosure operations within that division. LaMothe told the audience at a legal conference in Washington on Thursday that […]
Head Trader of Crypto Platform EmpiresX Pleads Guilty in $100 Million Fraud Scheme – WSJ
The head trader of South Florida-based cryptocurrency platform EmpiresX pleaded guilty in an alleged investment fraud scheme that raised around $100 million from investors, the Justice Department said. Joshua David Nicholas, of Stuart, Fla., pleaded guilty Thursday at the U.S. District Court for the Southern District of Florida in Miami to one count of conspiracy […]
U.S. judge rejects AT&T bid to dismiss SEC lawsuit over leaks to analysts | Reuters
A U.S. judge on Thursday rejected AT&T Inc’s bid to dismiss an unusual Securities and Exchange Commission lawsuit accusing the phone company of selectively leaking financial information to Wall Street analysts. In a 129-page decision, U.S. District Judge Paul Engelmayer in Manhattan said he found “formidable” evidence that AT&T and three investor relations executives improperly […]
Coinbase bankrolls suit against Treasury Department following Tornado Cash sanctions
Coinbase is footing the bill for a lawsuit filed against the Treasury Department Thursday by users of the recently sanctioned crypto service, Tornado Cash. The six plaintiffs include Coinbase employees and other users of the mixing service that was blacklisted by the Treasury’s Office of Foreign Assets Control (OFAC) in August. Mixing services like Tornado […]
Crypto Exchange Binance to Issue ‘Soulbound’ Tokens to Users Who Complete Know-Your-Customer Checks
Cryptocurrency exchange Binance plans to issue a “soulbound” token on the BNB blockchain to all users who complete know-your-customer (KYC) requirements, according to an official announcement. Soulbound tokens, which in this case act as an identity passport across the BNB chain, are unique and non-transferrable. Users who would prefer their identity not be shared across […]
Justice Department Recruits AB InBev Data Expert to White-Collar Crime Force – WSJ
A former executive for the world’s largest brewer who championed the use of machine learning to help companies detect and prevent employee misconduct is joining the Justice Department to help fight white-collar crime. Matt Galvin, Anheuser-Busch InBev SA’s former global compliance chief, will join the Justice Department’s fraud section in Washington on Monday, a department […]