SEC, DOJ Charge Dozy Mmobuosi in ‘Massive’ Fraud
The Nigerian businessman with claimed assets of more than $7 billion was widely reported to have been close to buying English soccer club Sheffield United.
Tag: Department of Justice
Madoff Victim Fund to Pay Out $158.9M to Fraud Victims
The ninth distribution brings the total recovery to more than $4.2 billion over the past 10 years.
Alternatives
Treasury’s Record $4.3B Crypto Exchange Fine Adds to Pressure on Digital Assets
Binance was fined for money-laundering just after Kraken was charged and less than one month after a jury found FTX's Sam Bankman-Fried guilty of fraud.
News
How New Proposed Antitrust Regs May Make Things Tougher for M&A
The proposed disclosure rules in the White House’s antitrust push could make filing for deals more difficult, critics argue.
Newsmakers
Fund for Madoff Victims Tops $4 Billion in Distributions
Justice Department says total recovery from Ponzi scheme has now covered more than 88% of losses.
Pensions
Justice Department Ends Investigation of Pennsylvania PSERS
A 2020 accounting error had prompted the investigation that lasted for more than a year.
Newsmakers
Brother, Sister Charged in Alleged $124 Million Crypto Fraud Scam
John and Tina Barksdale allegedly defrauded thousands of investors through offerings of a digital token called Ormeus Coin.
Manager Selection
Madoff Victim Fund Distributes Another $568 Million
The seventh distribution brings the total compensation to victims of the world’s largest Ponzi scheme to more than $3.7 billion.
Group Charged With Sophisticated Global Pump-and-Dump Conspiracy
US authorities allege a Canadian-led group made tens of millions of dollars in penny stock scams dating back a decade.
Regulation
DOJ Lawsuit Could Hurt Aon-Willis Towers Watson’s Chances in Europe
Legal action could influence whether the European Commission approves the $30 billion acquisition.
Risk
North Korean Extradited to US to Face Money Laundering Charges
Mun Chol Myong is the first North Korean to ever face criminal charges in the US.
Risk
Swiss Bank Admits to Helping US Clients Evade Taxes
Zuirch-based 271-year-old private bank Rahn+Bodmer will pay $22 million to settle charges it defrauded the IRS.
Chamath Palihapitiya Weighs Lessons from a ‘Tough Week’
With his deals seeing double-digit declines, the venture capital star encourages fellow investors not to be afraid of making changes.
Coronavirus - COVID-19
CEO Charged in Rapid COVID-19 Test Scam
Decision Diagnostics’ stock soared 1,500% in less than two months on allegedly false claims of a 15-second COVID-19 test.
Newsmakers
Madoff Victims’ Recovery Tops 80% of Losses
Latest distribution of more than $488 million to Bernie Madoff victims hailed as ‘historic result.’