Elsewhere in “fraud is legal now” news, President Donald Trump commuted Carlos Watson’s prison sentence and pardoned Trevor Milton. Watson ran Ozy Media, which impersonated a customer on a due diligence call; Milton ran Nikola Corp., which rolled a truck down a hill to pretend it had an engine. One possibility is that if you do hilarious high-profile fraud, Donald…
Kostelanetz Welcomes Former SEC Enforcement Counsel Victor Suthammanont as Partner – Kostelanetz LLP
Kostelanetz LLP is excited to welcome Victor Suthammanont as a partner in the New York City office. Coming off a decade-long stint at the Securities and Exchange Commission (SEC), where he served as a Senior Trial Counsel and, more recently, as Enforcement Counsel to then-SEC Chair Gary Gensler, Victor’s practice will be focused on securities law, commercial litigation, and white-collar criminal defense. Source:…
Sidley is pleased to announce that Ian McGinley has joined the firm as a Securities Enforcement and Regulatory partner in the Regulatory and Enforcement practice group in New York. Mr. McGinley was most recently the Director of Enforcement for the U.S. Commodity Futures Trading Commission (CFTC). At Sidley, he will focus on regulatory enforcement and white-collar criminal defense, with a…
Investor litigation around cryptocurrency won’t disappear just because the US Securities and Exchange Commission has been dropping Biden administration enforcement actions. […] But even as Trump’s SEC ends suits against Coinbase Global Inc., Binance Holdings Ltd, Ripple Labs Inc.—in which a court had ruled its token was a security when sold to institutional investors, but not to the general public—and…
A jury found Charlie Javice guilty of defrauding JPMorgan Chase when the young entrepreneur misled the bank about how many customers her buzzy startup had when selling it for $175 million. The jury of 12 New Yorkers found Javice and one of her co-executives, Olivier Amar, guilty on three counts of fraud and one count of conspiracy to commit fraud.…
Galaxy Digital and its affiliates will pay $200 million to settle a New York attorney general’s investigation into their involvement with the collapsed cryptocurrency, Luna. The New York Attorney General’s Office said it found that Galaxy promoted and sold Luna to the public without disclosing its intent to sell its holdings, according to a regulatory filing. Galaxy said Friday it…
Trevor Milton, a major Republican donor who was convicted by a federal jury in 2022 of defrauding investors in the electric truck maker Nikola, has received a pardon from President Trump, the White House said on Friday. Mr. Milton, Nikola’s founder and former chief executive, was sentenced to four years in prison and fined $1 million after a New York…
President Trump on Friday commuted the sentence of Carlos Watson, a co-founder of the now-defunct digital media company Ozy Media, on the day he was set to surrender to prison, three people familiar with the matter said. Mr. Watson was sentenced in December to almost 10 years in prison for trying to defraud investors and lenders by lying about the…
The U.S. Securities and Exchange Commission appears to have closed almost all of its outstanding crypto-related cases — at least the publicly disclosed ones — in the last two months since Mark Uyeda took over as acting chair of the agency. In many of the court filings, the SEC argued that it needs to pull these cases while the regulator’s…
President Donald Trump on Friday announced an agreement with law firm Skadden, Arps, Slate, Meagher & Flom to avoid a potential executive order restricting the work it can do with the federal government. The announcement came just hours after two other major firms, WilmerHale and Jenner & Block, sued Trump’s administration over executive orders against them, escalating a clash between…