Tag: Securities Fraud
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Billionaire owner of Tottenham football club charged with insider trading
[ad_1] U.S. prosecutors have called an offsides on the British billionaire owner of Tottenham Hotspur soccer team, charging him with a “brazen insider-trading scheme,” in which he passed secret stock tips worth millions to his girlfriends, private pilots and assistants for years. Joe Lewis, 86, who is one of the richest people in the United…
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CSX shares come off the rails while Peloton goes up a gear, and other early Friday movers
[ad_1] Here are some of the biggest movers of the day: Stock gainers: Digital World Acquisition Corp. DWAC, -2.05%, the special purpose acquisition company (SPAC) looking to take Donald Trump’s Truth Social media company public, soared 20% in premarket trades after the SPAC reached a settlement with the Securities and Exchange Commission over fraud charges. RedHill Biopharma…
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Fraudster set free by Trump charged with running new $38-million Ponzi scheme
[ad_1] It pays to have friends in high places. A two-time convicted fraudster who had a 24-year sentence for running a $200 million Ponzi scheme commuted by President Donald Trump on his last day in office has been charged with running a new multimillion-dollar fraud. Eliyahu Weinstein, a 48-year-old, former used-car salesman from Lakewood, N.J.,…
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These are now the hot cryptocurrencies for crime
[ad_1] As Wall Street ramps up its campaign to sell bitcoin funds to the public, a new report reveals just how far the original cryptocurrency has already been displaced by thousands of newer rivals in the field where it was arguably most influential —financing crime. Bitcoin’s share of “illicit cryptocurrency activity” has collapsed by an astonishing 80%…
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Bad boys: Four dumb ways people just allegedly got caught insider trading
[ad_1] Insider trading may seem like an easy bet to some, but it’s a dumb way to lose if you get caught. On Thursday, federal prosecutors in Manhattan announced four separate, head-scratching busts of people for allegedly trading on inside information in ways so brazen that it would have been amazing if they hadn’t been…
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California man sentenced to seven years in $9 million cow-poop Ponzi scheme
[ad_1] It was all just a pile of manure. A California con artist has been sentenced to nearly seven years in prison for duping investors out of close to $9 million in a Ponzi scheme that claimed to be converting cow poop into green energy. Ray Brewer, 66, pleaded guilty earlier this year to running…
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China’s shadow banking sector poses ‘rising risks of a financial crisis’: report
[ad_1] The Chinese government has been engaged in a decade-long campaign to stave off a financial crisis triggered by excessive debt growth, an effort that has critically damaged its $10.7 trillion real-estate debt market and set the stage for a political showdown between local and central governments as the country attempts to navigate sharply slowing…