‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInNikola founder criminal charges puts other SPACs on notice
“This case is about the obligation of corporate officers like Milton to provide complete, truthful and accurate information at all times when discussing their company’s affairs,” Securities and Exchange Commission enforcement director Gurbir Grewal told reporters. “There is no end around or exception to this obligation. It applies to all public companies, even those that […]
Trevor Milton: Grand jury indicts Nikola founder on three counts of fraud
Trevor Milton, founder of EV start-up Nikola, was indicted on three counts of criminal fraud by a federal grand jury for allegedly lying about “nearly all aspects of the business,” according to the indictment, which was unsealed Thursday. The U.S. Attorney’s Office in Manhattan accused the billionaire, who resigned as chairman in September, with two […]
Elizabeth Holmes’ lawyers cite negative coverage in request to expand jury selection
A 21-page motion filed late Thursday spelled out example after example of highly descriptive and unflattering stories in the past several years about Holmes. “The publicity is pervasively negative,” lawyers for Holmes said. Adding she is, “routinely referred to in derisive and inflammatory terms that are directly relevant to the wire fraud charges in this […]
Elizabeth Holmes’ lavish lifestyle looms over Theranos fraud case
Elizabeth Holmes’ jet-setting, lavish lifestyle as CEO of Theranos took center stage on Thursday as her attorneys argued it was irrelevant to her criminal fraud case. “What she wore, where she stayed, how she flew and what she ate has nothing to do with this trial,” said Holmes’ attorney Kevin Downey, adding that its “inflammatory […]
The FBI Should Retire its Form 302 | LinkedIn
Finally, and perhaps most importantly, Form 302 of the U.S. Federal Bureau of Investigation (“302”), the memorandum used by FBI agents to memorialize their notes taken during a witness interview, can unintentionally create a materially misguided, mistaken, incomplete and wholly unreliable evidentiary record. Innocently characterized as an “interview memo,” the 302, with its “official” look […]
Wirecard employees removed millions in cash using shopping bags | Financial Times
Wirecard employees hauled millions of euros of cash out of the group’s Munich headquarters in plastic bags over a period of years, according to former employees, suggesting that the payments company was looted even more brazenly than previously known. The once high-flying fintech, which at its peak was worth €24bn, went bust last summer in […]
Lisa Monaco Is Confirmed by Senate as Deputy Attorney General – WSJ
The Senate on Tuesday confirmed Lisa Monaco to be deputy attorney general, putting a seasoned national-security official in charge of the Justice Department’s day-to-day operations as it confronts a rise in domestic extremism and threats from abroad. Ms. Monaco, 53 years old, was confirmed in a 98-2 vote, with Democrats and Republicans alike praising her […]
Bernie Madoff dies: Mastermind of the nation’s biggest investment fraud was 82
Bernard Madoff, mastermind of the biggest investment fraud in U.S. history, ripping off tens of thousands of clients of as much as $65 billion, died early Wednesday, The Associated Press reported. He was 82. Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the AP reported, citing an unidentified […]
Manhattan Is On Track to Have Its First Black U.S. Attorney – The New York Times
Senator Chuck Schumer will ask President Biden to name Damian Williams as the next U.S. attorney in Manhattan, virtually ensuring that one of the most powerful and important federal prosecutor’s offices in the country will be led for the first time by a Black man, the senator’s office said on Tuesday. Source: Manhattan Is On […]
Brooklyn Man Charged in Long-Running International Insider Trading Scheme | USAO-EDNY | Department of Justice
According to the indictment, between November 2015 and October 2020, Peltz and his co-conspirators engaged in a fraudulent scheme by which they obtained MNPI about publicly traded companies from a variety of sources, including a corporate insider and a reporter at a financial news organization (the “Reporter”). Peltz and his co-conspirators allegedly used the MNPI […]