Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInBankman-Fried’s Cabal of Roommates in the Bahamas Ran His Crypto Empire – and Dated. Other Employees Have Lots of Questions
How can that be? It may have something to do with a luxury penthouse in the Bahamas. That’s where 30-year-old Bankman-Fried is roommates with the inner circle who ran his now-struggling crypto exchange FTX and trading giant Alameda Research. Many are former co-workers from quantitative trading firm Jane Street, others he met at the Massachusetts […]
W. Anders Folk and Kristin Berger Parker join Jones Day as partners in Minneapolis | Jones Day
The global law firm Jones Day announced today that W. Anders Folk and Kristin Berger Parker have joined the Firm as partners in the Minneapolis Office. Mr. Folk joins Jones Day’s Investigations & White Collar Defense Practice, and Ms. Parker joins the Firm’s Labor & Employment Practice. Mr. Folk spent the last four years at […]
US Tether Bank Fraud Investigation Changes Hands Within the DOJ: Report
A criminal investigation into whether Tether’s executives committed bank fraud in the early days of the stablecoin issuer’s existence has been reassigned after months of stagnation, according to Bloomberg. The Department of Justice’s (DOJ) probe will now be led by U.S. Attorney Damian Williams in the Southern District of New York (SDNY), Bloomberg said, citing […]
SEC Charges Mattel with Financial Misstatements and Former PwC Audit Partner with Improper Professional Conduct
The Securities and Exchange Commission today announced that California-based Mattel Inc. has agreed to pay $3.5 million to settle charges relating to misstatements in its third and fourth quarter 2017 financial statements. Separately, the SEC is initiating litigation against Joshua Abrahams, a former audit partner at PricewaterhouseCoopers LLP, or PwC, to determine whether he engaged […]
Ex-Goldman Sachs analyst and lawyer brother faces 2023 UK insider trading trial – Reuters
A former Goldman Sachs analyst and his brother, who was a lawyer at Clifford Chance, face a trial in London next year for alleged fraud and insider dealing. Mohammed Zina, 34, who was employed by Goldman Sachs International in the conflicts resolution group of its London office, and Suhail Zina, 35, formerly an associate at […]
Will SEC v. Ripple Restrain Federal Agency Candor?
While federal litigators well know that their investigative file will be turned over to the defendant, it was quite shocking for those of us litigating on behalf of the federal government at the time to imagine that presumably privileged material could be disclosed and potentially damage our agency’s positions. *** Overall, the Ripple court’s decision […]
Crypto Remains a Priority for UK Under New Leader, Drawing Industry Excitement
The U.K. said it still plans on becoming a crypto hub despite a recent leadership shuffle, and industry advocates are thrilled. Even with all of the change in its leadership, the U.K. government is set to press forward with former Finance Minister Rishi Sunak’s plans to turn the country into an international hub for crypto, […]
Billy McFarland Is Out of Jail and Ready for His Next Move – The New York Times
Mr. McFarland, who in 2018 entered guilty pleas for fraud stemming from his role in organizing the Fyre Festival — a Coachella-for-the-Bahamas affair that went spectacularly awry and established him as the Elizabeth Holmes of party promoters— had been a free man for all of 15 minutes. And he didn’t seem inclined to lay low […]
SEC Amends Whistleblower Rules to Incentivize Whistleblower Tips
The Securities and Exchange Commission today adopted two amendments to the rules governing its whistleblower program. The first rule change allows the Commission to pay whistleblowers for their information and assistance in connection with non-SEC actions in additional circumstances. The second rule affirms the Commission’s authority to consider the dollar amount of a potential award […]
Nasdaq to Defend Board Diversity Push After California Setbacks
A three-judge panel of the US Court of Appeals for the Fifth Circuit will hear oral arguments on Monday in an appeal of a Securities and Exchange Commission decision approving new Nasdaq Inc. rules. The tech-heavy stock exchange is requiring its listed companies to have diverse corporate boards or explain why they don’t. The conservative […]