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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInCaroline Ellison Apologizes for Misconduct in FTX Collapse – WSJ
FTX executives had enacted special settings that granted Alameda access to an unlimited line of credit without having to post collateral, pay interest on negative balances or be subject to margin calls, she said. “I also understood that many FTX customers invested in crypto derivatives and that most FTX customers did not expect that FTX […]
Caroline Ellison and FTX Co-Founder Gary Wang Plead Guilty to Fraud – The New York Times
Two former top executives of Sam Bankman-Fried’s crypto trading empire have pleaded guilty to federal criminal fraud charges and are cooperating in the prosecution of the disgraced crypto entrepreneur, the U.S. attorney for the Southern District of New York said on Wednesday night. The two are Caroline Ellison, 28, who was the chief executive of […]
US Prosecutors Charge 21 Alleged ‘Money Mules’ With Using Crypto to Launder Proceeds of Cybercrimes
Maryland woman Zenobia Walker, 65, pleaded guilty in January to her role in a a scheme in which she received over $300,000 from victims of romance scams and other fraud schemes, deposited the money in her personal bank accounts, exchanged it for cryptocurrency and passed the crypto on to her foreign co-conspirators. She was sentenced […]
Head Trader of Crypto Platform EmpiresX Pleads Guilty in $100 Million Fraud Scheme – WSJ
The head trader of South Florida-based cryptocurrency platform EmpiresX pleaded guilty in an alleged investment fraud scheme that raised around $100 million from investors, the Justice Department said. Joshua David Nicholas, of Stuart, Fla., pleaded guilty Thursday at the U.S. District Court for the Southern District of Florida in Miami to one count of conspiracy […]
CEO of Titanium Blockchain Pleads Guilty in $21 Million Cryptocurrency Fraud Scheme | Department of Justice
The CEO of Titanium Blockchain Infrastructure Services Inc. (TBIS) pleaded guilty Friday for his role in a cryptocurrency fraud scheme involving TBIS’s initial coin offering (ICO) that raised approximately $21 million from investors in the United States and overseas. According to court documents, Michael Alan Stollery, 54, of Reseda, California, was the CEO and founder […]
U.S. Attorney: Former Attorney Pleads Guilty To Defrauding Investors
Marc Celello, a former state securities enforcement attorney and General Counsel for a Georgia investment company, has pleaded guilty to conspiring to defraud investors out of over $40 million. “Marc Celello used his skills as an attorney to help his employer cheat investors out of millions of dollars,” said U.S. Attorney Byung J. “BJay” Pak. […]
Ex-SAC Fund Manager Has Insider-Trading Plea Tossed by Judge – Bloomberg
A former SAC Capital Advisors LP fund manager had his conviction for insider trading tossed out after a judge said current law no longer supports his guilty plea. Richard S. Lee pleaded guilty in 2013 days before SAC Capital was indicted for orchestrating a massive insider-trading scheme. Lee, who cooperated with prosecutors before seeking to […]
Fake hedge fund manager pleads guilty to securities fraud | New York Post
Scronic, 46, on Thursday pleaded guilty to securities fraud, admitting that he defrauded 45 investors — many of them pals — out of $22 million while running his fake hedge fund from his home. In seven-plus years of running the scam, Scronic posted only one positive quarter, court papers reveal. via Fake hedge fund manager […]
Local men plead guilty to insider trading | fox5sandiego.com
On the morning his insider trading trial was slated to begin in U.S. District Court, a San Diego man pleaded guilty to conspiracy, with his plea coming just days after his co-defendant was convicted of the same charge by a federal jury. Stockbroker Paul Rampoldi, 50, of San Diego was found guilty Friday after the […]
Florida lawyer pleads guilty in insider trading case –Reuters
A Florida lawyer accused by U.S. prosecutors of engaging in a nearly $1 million insider trading scheme using information he improperly obtained from his law firm’s databases pleaded guilty on Thursday, prosecutors said. via Florida lawyer pleads guilty in insider trading case –Reuters