Daily Archives: June 7, 2024, 1:31 pm

SEC Charges Three New Yorkers for Raising More Than $184 Million Through Pre-IPO Fraud Schemes

The Securities and Exchange Commission today charged three individuals with fraud for selling unregistered membership interests in LLCs that purported to invest in shares of pre-IPO companies, first on behalf of StraightPath Venture Partners LLC, the subject of the Commission’s emergency action in May 2022, and, later, on behalf of Legend Venture Partners LLC, the subject of the Commission’s emergency…

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SEC Cyber Disclosures Delayed Several Times Since December – WSJ

The U.S. government has delayed public disclosures of cyber incidents several times since new rules came into force last December, a senior Justice Department official said. On a number of occasions, the Justice Department has delayed companies’ disclosures because making the attacks public would create substantial risks and raise national-security concerns, said Matthew Olsen, assistant attorney general for national security.…

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SEC sued by trade association for details on record-keeping probe | Reuters

A financial industry trade association has sued the U.S. Securities and Exchange Commission for information about the agency’s multibillion-dollar crackdown on how banks and other firms handle work-related communication on personal devices. The American Securities Association said in its lawsuit in Tampa federal court on Thursday that the SEC had improperly rejected its request under federal public records law for…

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NYAG Sues 2 Crypto Pyramid Schemes, Promoters Targeting Haitian-Americans in $1B Scam

New York Attorney General Letitia James has filed suit against two purported crypto companies and their top promoters, a married couple, for allegedly operating two consecutive pyramid schemes that predominantly targeted Haitian immigrants to the U.S. According to the complaint filed Thursday, the two schemes – AWS Mining and NovaTechFX – preyed on Creole-speaking church-goers via WhatsApp group chats, bilking…

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Former Federal Prosecutors, Agents Ask U.S. Sec. Blinken to ‘Step Up’ Efforts to Secure Detained Binance Exec’s Release

A group of 108 former federal prosecutors and agents have signed a public letter to U.S. Secretary of State Antony Blinken urging the State Department to “step up” its efforts to secure Binance compliance head Tigran Gambaryan’s release from a Nigerian prison, Axios reported Thursday evening. The letter, reportedly spearheaded by investor and Coinbase board member Katie Haun – a former…

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