Daily Archives: April 12, 2024, 7:44 am

SEC Obtains Final Judgment Against Zachary Horwitz in Connection With a $690 Million Ponzi Scheme

On February 14, 2024, the Securities and Exchange Commission obtained a final judgment against Zachary Horwitz, who the SEC charged with an alleged Ponzi scheme that raised over $690 million. The complaint alleged that Horwitz falsely claimed to have a track record of successfully selling movie rights to Netflix and HBO when, in fact, he had never sold any movie…

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Who controls a company? – Bloomberg

A reader, knowing how fond I am of this sort of thing, sent me three articles in Bicycle Retailer and Industry News with the following perfect sequence of headlines: “Scott Sports replaces CEO ‘to refresh’ brand” (March 29) “Beat Zaugg says he’s still CEO of Scott Sports” (April 1) “Police called to Scott Sports headquarters” (April 4) Honestly that’s all…

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Morgan Stanley’s Wealth Arm Probed by Multiple Federal Regulators – WSJ

Multiple federal regulators are probing Morgan Stanley over how it vets clients who are at risk of laundering money through the bank’s sprawling wealth-management division. The Securities and Exchange Commission, the Office of the Comptroller of the Currency and other Treasury Department offices are involved, according to people familiar with the matter. That is in addition to the Federal Reserve,…

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Man Convicted for Insider Trading Scheme | United States Department of Justice

A federal jury in Los Angeles convicted a California man this week for insider trading. According to court documents and evidence presented at trial, Shahriyar Bolandian, 35, of Brentwood, Los Angeles, participated in an insider trading scheme that netted more than $650,000 in illicit profits. Between 2012 and 2013, Bolandian received material non-public information about two upcoming corporate acquisitions from…

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