Daily Archives: January 20, 2023, 6:08 pm

Elizabeth Holmes made an ‘attempt to flee the country’ after her conviction, prosecutors say | CNN Business

Elizabeth Holmes made an “attempt to flee the country” by booking a one-way ticket to Mexico in January 2022, shortly after the Theranos founder was convicted of fraud, prosecutors alleged in a new court filing Friday. *** The claim that she tried to leave the country last year surfaced as part of a new filing from prosecutors arguing that Holmes…

Read More

SEC Charges Avraham Eisenberg with Manipulating Mango Markets’ “Governance Token” to Steal $116 Million of Crypto Assets

Eisenberg, a 27 year-old U.S. citizen who was arrested and detained at MDC Guaynabo, Puerto Rico, is awaiting transport to appear before the Southern District of New York where he is facing parallel criminal and civil charges, brought by the Department of Justice and the Commodities Futures Trading Commission (CFTC), respectively. According to the SEC’s complaint, beginning on October 11,…

Read More

Elon Musk Sold Tesla Shares Before Company Acknowledged Weakness – WSJ

Late last year, after a wave of news reports pointing to sagging demand for his company’s vehicles, Tesla Inc. Chief Executive Elon Musk sold almost $3.6 billion of his shares in the electric-car maker. On Jan. 2, Tesla announced fourth-quarter vehicle deliveries that were significantly below the company’s most recent forecast to investors. The news sent Tesla’s stock price plunging…

Read More

Nexo Agrees to Pay $45 Million in Penalties and Cease Unregistered Offering of Crypto Asset Lending Product

The Securities and Exchange Commission today charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP). To settle the SEC’s charges, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors. In parallel actions announced…

Read More

NCLA Challenges Modern Star Chamber Proceedings at Public Company Accounting Oversight Board – New Civil Liberties Alliance

The New Civil Liberties Alliance filed a complaint today in the U.S. District Court for the Northern District of Texas seeking declaratory and injunctive relief from the Public Company Accounting Oversight Board’s secret, unaccountable, and inherently biased prosecutorial processes. With no meaningful supervision by any government official appointed or directly removable by the President, and using funds raised by private…

Read More

Elon Musk Jury Should Be Warned Ahead of His Testimony, Opponents Say – Bloomberg

“You must also reject and disregard any fact, testimony, or argument that he acted innocently, in good faith, or anything less than recklessly,” the plaintiffs lawyers suggested Chen tell jurors, referring to Musk. In opening arguments Wednesday, Musk’s lawyer said, “His mind was pure. His intentions were sincere. He was operating in good faith” — and “there was no fraud.”…

Read More

Holmes Should Be in Prison, Not $13,000-a-Month Estate as She Appeals, US Says – Bloomberg

Theranos Inc. founder Elizabeth Holmes should report to prison as scheduled in April, prosecutors say, rather than living on an expensive estate while she appeals her conviction. As Holmes fought fraud charges she lived on an estate with reportedly $13,000 in upkeep costs each month, conceived two children and “continues to show no remorse,” government lawyers said. Now she has…

Read More

SPAC Deals Shrink After Speculation Wanes – WSJ

Some of Wall Street’s most speculative investors are scaling back their ambitions, doing deals that are a 10th the size of their flashy, top-of-market acquisitions. Creators of special-purpose acquisition companies, or SPACs, are valuing companies they seek to take public at the lowest levels since the boom began nearly three years ago, figures from Dealogic show. The average announced SPAC…

Read More