Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInGuo Wengui Charged in Alleged $1 Billion Fraud Conspiracy – WSJ
Federal prosecutors in Manhattan have charged exiled Chinese businessman Guo Wengui with duping investors out of hundreds of millions of dollars to bankroll the purchase of a sprawling mansion, a 145-foot luxury yacht and other lavish items. Mr. Guo, also known as Kwok Ho Wan, was arrested Wednesday morning in New York and is charged with […]
Santander, HSBC, Deutsche Bank, Others Still Willing to Serve Crypto Clients After Banking Failures, DCG Says
Crypto conglomerate Digital Currency Group (DCG) is trying to find new banking partners for portfolio companies following the collapse of Silicon Valley Bank (SVB), Signature Bank (SBNY) and Silvergate Bank, according to a memo viewed by CoinDesk. Santander (SAN), HSBC (HSBA), Deutsche Bank (DB), BankProv, Bridge Bank, Mercury, Multis and Series Financial are still willing […]
SEC Charges Exiled Chinese Businessman Miles Guo and His Financial Advisor William Je in $850 Million Fraud Scheme
The Securities and Exchange Commission today charged exiled Chinese businessman Miles Guo and his financial advisor William Je for their involvement in unregistered and fraudulent offerings that raised more than $850 million. According to the SEC’s complaint, since April 2020, Guo, also known as Ho Wan Kwok, Miles Kwok, Wengui Guo, and Brother Seven, and […]
Slarskey LLC Welcomes Prominent Shareholder Rights Attorney and Commercial Litigator Adam Hollander as Partner
Slarskey LLC announced today that the New York-based litigation boutique has welcomed Adam Hollander, a commercial litigator with an extensive history of wins for investors in high-profile securities-related disputes and matters involving corporate fraud, as a partner. Source: Slarskey LLC Welcomes Prominent Shareholder Rights Attorney and Commercial Litigator Adam Hollander as Partner
Former Assistant U.S. Attorney Lara Treinis Gatz joins Reed Smith’s regulatory and investigations practice | Reed Smith LLP
Global law firm Reed Smith announced today that Lara Treinis Gatz, a former federal prosecutor with the Department of Justice (DOJ), has joined the firm as a partner, adding firepower to its Global Regulatory Enforcement practice group. Gatz, who prior to joining Reed Smith served as a federal prosecutor in both the Southern District of […]
Silicon Valley Bank’s Lack of Risk Officer Emerges as Focus for Fed, Lawyers – Bloomberg
Silicon Valley Bank’s lack of a chief risk officer for much of last year is being examined by the Federal Reserve as part of its probe of the bank’s failure, two people familiar with the matter said. SVB revealed in a 2023 proxy statement that Chief Risk Officer Laura Izurieta left the company in October […]
SEC Is ‘Completely Out Of Control,’ Says a16z Crypto’s Head of Policy
Crypto industry players ramped up the heat towards regulators Tuesday afternoon at the annual Futures Industry Association conference for what they see as failing to provide an adequate regulatory framework for the novel asset class. Over the past several weeks, regulators such as the Securities and Exchange Commission (SEC) unveiled a slew of enforcement actions […]
Short-Seller Citron Deletes All Its Old Tweets, Citing Trolls and Lawsuits – Bloomberg
Citron Research has deleted all of its old tweets after spending too much time dealing with class-action attorneys and Internet trolls because of them, founder Andrew Left said on Tuesday. Left, best-known for short positions on Tesla Inc., GameStop Corp. and China Evergrande Group, told Bloomberg by telephone that he was getting “so many” subpoenas […]
Everything is Securities Fraud – Bloomberg
I said above that, as a moral hazard matter, SVB’s executives are out of their jobs and their shares are zeroed, which is a good warning to other risk-loving bank executives. But several of them sold stock just before the failure, so they are not really zeroed, and you can see how that would rub people the […]
Citi, Valero, ADT Flag New Investment Risk: the Anti-ESG Effect
Citi, Valero and ADT are telling shareholders that anti-ESG sentiment is a new business risk, as companies start to raise alarms about conservative attacks on socially conscious policies in their annual reports this year. The bank, oil refiner and home security provider were among 11 companies that directly referenced “anti-ESG” in their 10-Ks for the […]