Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInFormer Start-Up Founder Charged by Prosecutors for Defrauding JPMorgan Chase – The New York Times
Charlie Javice, the 31-year-old start-up founder who JPMorgan Chase accused in a December lawsuit of lying to the bank as it prepared to acquire her company, is now facing criminal charges as well. On Tuesday, the U.S. attorney’s office for the Southern District of New York charged her with wire, bank and securities fraud. It […]
SEC Charges Founder of Frank with Fraud in Connection with $175 million Sale of Student Loan Assistance Company
The Securities and Exchange Commission today charged Charlie Javice, the founder of the now shuttered student loan assistance company previously known as Frank, with fraud in connection with the $175 million sale of the company to JPMorgan Chase Bank, N.A., (JPMC) in 2021. The SEC’s complaint alleges that Javice orchestrated a scheme to deceive JPMC […]
Judge Jed Rakoff on Fraud and Fraudsters – Business Law Prof Blog
Judge Rakoff also offered–relevant to some of the work that I have done and am doing on friends-and-family insider trading cases–that based on his personal experience, fraud and other white collar criminal misconduct may be motivated by greed, a desire for power or status, psychological issues, etc. But he noted overall that those who commit […]
Chinese Billionaire Guo Says He’d Be Worse Off if He Fled US – Bloomberg
Chinese billionaire Guo Wengui, who was arrested in New York earlier this month on fraud charges, says he’d be worse off if he fled the US than if he stayed and faced trial. Guo, also known as Ho Wan Kwok, asked to be released on a $25 million bond, arguing he’s not a flight risk. […]
SEC Charges Three Executives at U.S. Navy Shipbuilder Austal USA with Accounting Fraud
The Securities and Exchange Commission today charged three executives of Mobile, Alabama-based shipbuilder, Austal USA LLC, for orchestrating a fraudulent revenue recognition scheme that allowed its parent company to meet or exceed analyst expectations. The SEC alleges that, from at least January 2013 through July 2016, Austal USA’s former president, Craig D. Perciavalle, its current […]
Do Kwon Charged With Fraud by US After Arrest in Montenegro – Bloomberg
Terraform Labs co-founder Do Kwon was charged by US prosecutors with orchestrating a yearslong cryptocurrency fraud that wiped out at least $40 billion in market value. His indictment Thursday evening by the US attorney’s office in Manhattan capped a dramatic day that began with the news that Kwon, already a fugitive from charges in his […]
SEC Charges Three Sales Agents at StraightPath Venture Partners With Fraud and Unregistered Broker Activity
The Securities and Exchange Commission today charged Scott Hollender, Gabriel Migliano, Jr., and Frank Vecchio for selling interests in shares of pre-IPO companies on behalf of StraightPath Venture Partners LLC, despite not being registered broker-dealers, and for misleading investors about the fees associated with those investments. The Commission previously charged StraightPath Venture Partners, StraightPath Management […]
SEC Charges Cannabis Company American Patriot Brands, CEO, and Others with Fraud
The Securities and Exchange Commission today charged American Patriot Brands Inc. (APB), a cannabis cultivation and distribution company, its CEO, and five other entities and individuals for their participation in a long-running scheme in which they raised more than $30 million from more than one hundred investors across the country and siphoned off millions of […]
Guo Wengui Charged in Alleged $1 Billion Fraud Conspiracy – WSJ
Federal prosecutors in Manhattan have charged exiled Chinese businessman Guo Wengui with duping investors out of hundreds of millions of dollars to bankroll the purchase of a sprawling mansion, a 145-foot luxury yacht and other lavish items. Mr. Guo, also known as Kwok Ho Wan, was arrested Wednesday morning in New York and is charged with […]
SEC Charges Exiled Chinese Businessman Miles Guo and His Financial Advisor William Je in $850 Million Fraud Scheme
The Securities and Exchange Commission today charged exiled Chinese businessman Miles Guo and his financial advisor William Je for their involvement in unregistered and fraudulent offerings that raised more than $850 million. According to the SEC’s complaint, since April 2020, Guo, also known as Ho Wan Kwok, Miles Kwok, Wengui Guo, and Brother Seven, and […]