James Patten, who helped orchestrate a stock manipulation scheme that led to a company that owned a single money-losing New Jersey deli being valued at $100 million, was sentenced to 21 months in prison on Tuesday. Patten, 67, asked Judge Christine O’Hearn to sentence him to no time in prison at a hearing in U.S. District Court in Camden, New…
United States Attorney for the Southern District of New York, Jay Clayton, announced today that VADIM KOMISSAROV, the former Chief Executive Officer of Trident Acquisitions Corp. (“TDAC”), a publicly traded special purpose acquisition company (“SPAC”), was sentenced to three years in prison for committing securities fraud in connection with a scheme to defraud TDAC investors and investors in TDAC’s successor…
A federal judge in the Central District of California on Monday sentenced Daren Li to the statutory maximum of 20 years in prison for his role in a cryptocurrency investment fraud and money laundering conspiracy that stole at least $73.6 million from victims. Li, a 42-year-old dual citizen of China and St. Kitts and Nevis, remains at large after fleeing…
Nader Pourhassan, 62, of Lake Oswego, Oregon, was sentenced Friday to 30 months in prison for misleading investors about his company’s development of a new drug, then selling his personal stock in the company at artificially inflated prices. “The defendant lied to investors about a drug to treat HIV and COVID-19 so he could engage in insider trading,” said Assistant…
Disgraced crypto tycoon Do Kwon was sentenced to 15 years in prison on Thursday after pleading guilty to fraud in connection with the $40 billion crash of his TerraUSD and Luna coins in 2022. Kwon, who had asked for a sentence of five years, pleaded guilty to two criminal counts in August, including one count of wire fraud and one…
Charlie Javice co-defendant Olivier Amar sentenced to over 5 years in prison for defrauding JPMorgan
A former finance executive convicted of helping Charlie Javice defraud JPMorgan Chase into buying the college financial aid startup Frank for $175 million was sentenced on Wednesday to 68 months in prison. Olivier Amar, who was Frank’s chief growth officer, was sentenced by US District Judge Alvin Hellerstein in Manhattan. Hellerstein also sentenced Javice to 85 months in prison on…
A man who pleaded guilty to receiving and passing along tips about an aerospace part maker’s acquisition must serve one year and one day in prison, a federal court said in a judgment Monday. Jonathan Whitesides is also subject to two years’ probation and a $100 assessment, the US District Court for the Southern District of New York said in…
Charlie Javice, who was convicted of defrauding JPMorgan Chase & Co. into acquiring her student-finance startup, deserves 12 years in prison, US prosecutors told a judge. In a court filing late Monday, the government said Javice “committed a brazen fraud to pocket nearly $50 million for herself by claiming her company had as customers millions of people who did not…
A father and son were each sentenced to years in prison for misleading firms like Vanguard Group Inc. and AllianceBernstein Holding LP about the prospects of an Arizona sports complex backed by $280 million in municipal bonds. Manhattan US District Judge Lewis Kaplan on Tuesday gave Randy Miller six years behind bars and his son, Chad Miller, five years. The…
Former cryptocurrency evangelist Alex Mashinsky was sentenced to 12 years in prison on Thursday after pleading guilty to fraud in connection with the multibillion-dollar collapse of his firm, Celsius Network, three years ago. A pseudobank that touted returns of as much as 18.6% on customers’ crypto deposits, Celsius was one of the first big crypto companies to topple into bankruptcy…