Category: Fraud
-
Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes By Reuters
•
By Chris Prentice, Mike Spector, and David Shepardson NEW YORK/WASHINGTON (Reuters) – Boeing Co has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle a U.S. Justice Department investigation into two deadly crashes of its 737 MAX jetliner, the government said…
-
Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes By Reuters
•
By Chris Prentice, Mike Spector, and David Shepardson NEW YORK/WASHINGTON (Reuters) – Boeing Co has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle a U.S. Justice Department investigation into two deadly crashes of its 737 MAX jetliner, the government said…
-
Crypto Price Manipulation and Securities Fraud Lead to Two Prison Sentences
•
Two men have been sentenced for manipulating the price of Hydrogen Technology’s cryptocurrency, HYDRO, and plotting to defraud investors. This case marks the first time a jury in a federal criminal trial has classified a cryptocurrency as a security and found that cryptocurrency price manipulation constitutes securities fraud. $300 Million…
-
Crypto Price Manipulation and Securities Fraud Lead to Two Prison Sentences
•
Two men have been sentenced for manipulating the price of Hydrogen Technology’s cryptocurrency, HYDRO, and plotting to defraud investors. This case marks the first time a jury in a federal criminal trial has classified a cryptocurrency as a security and found that cryptocurrency price manipulation constitutes securities fraud. $300 Million…
-
Washington Watchdog Issues Fraud Alert
•
Washington state regulators are investigating Ethfinance, a cryptocurrency trading platform, after a local investor reported a staggering $310,000 loss. This case raises red flags about potential cryptocurrency scams targeting unsuspecting victims via social media. Ethfinance: Error in friend request The investor, whose name was not mentioned, according to Washington Department…
-
Judges hear Elizabeth Holmes’ appeal of fraud conviction while she remains in Texas prison
•
Breadcrumb links BMN Business Article writer: Associated Press Michael Liedtke Posted on June 11, 2024 • 3 minutes read You can save this article by registering for free here. Or log in if you have an account. Article content SAN FRANCISCO (AP) — A panel of federal judges spent two…
-
Walgreens-backed CityMD settles COVID fraud claims (NASDAQ:WBA)
•
Justin Sullivan/Getty Images News walgreens (Nasdaq: WBAThe U.S. Department of Justice (DoJ) announced that subsidized urgent care provider CityMD has agreed to pay more than $12 million to resolve allegations that the company falsely claimed government payments related to coronavirus (COVID-19) tests during the pandemic. Settlement follows An investigation into…
-
China’s First Crypto Fraud Trial Ends With Student’s 4-Year Prison Sentence
•
In a groundbreaking case that attracted significant attention in China, a university student named Yang Qichao was sentenced to 4 years and 6 months in prison and fined 30,000 yuan ($41,000) for “fraud” in issuing a cryptocurrency called BFF on Binance’s BNB chain. . The case, which took place in…
-
China’s First Crypto Fraud Trial Ends With Student’s 4-Year Prison Sentence
•
In a groundbreaking case that attracted significant attention in China, a university student named Yang Qichao was sentenced to 4 years and 6 months in prison and fined 30,000 yuan ($41,000) for “fraud” in issuing a cryptocurrency called BFF on Binance’s BNB chain. . The case, which took place in…
-
Mike Lynch Acquitted of All Fraud Charges in Hewlett-Packard Case
•
British businessman Mike Lynch was acquitted Thursday of all 15 fraud charges in connection with the $11.1 billion sale of his company Autonomy to Hewlett-Packard in 2011. The trial, which began in March in San Francisco, follows a long extradition battle from England to the United States, where Lynch first…
-
Mike Lynch Acquitted of All Fraud Charges in Hewlett-Packard Case
•
British businessman Mike Lynch was acquitted Thursday of all 15 fraud charges in connection with the $11.1 billion sale of his company Autonomy to Hewlett-Packard in 2011. The trial, which began in March in San Francisco, follows a long extradition battle from England to the United States, where Lynch first…
-
China, UAE Vow to Combat Telecom Fraud and Online Gambling
•
In a move that signals a global shift, China and the United Arab Emirates have established a strategic alliance to combat cybercrime involving cryptocurrencies. Joint effort to combat cryptocurrency crimes The partnership comes amid a surge in cryptocurrency fraud activity in Hong Kong, highlighting the growing need for international cooperation…
-
UK Finance Urges Post-Election Government to Prioritise Growth and Fraud Prevention
•
UK Finance, the prominent banking trade association, has issued a call to action for the next government to implement policies that will stimulate economic growth and promote financial participation. Their Financial Services Statement sets out key initiatives aimed at tackling critical issues such as financial education, fraud prevention, and supporting…
-
Former Investment Banker Receives 41-Month Sentence for Crypto Fraud
•
Rashawn Russell, a former investment banker, was sentenced to 41 months in prison for cryptocurrency-related wire fraud and access device fraud. Russell was sentenced in Eastern New York District Court in Brooklyn after pleading guilty in September 2023. Former $1.5 Million Cryptocurrency Banking Fraud Prosecutors Hinge Russell began soliciting investments…
-
Trump’s media company stock sinks in the wake of fraud verdict
•
Shares of Trump Media and Technology Group, which owns the social networking site Social truthStock prices fell on Thursday following the conviction of former President Donald Trump in his hush money trial. New York jury Trump was found guilty Charged with falsifying business records in a scheme to illegally influence…
-
SEC, Terraform Labs, and Do Kwon Reach Agreement in Civil Fraud Case: Report
•
Terraform Labs and its founder, Do Kwon, have reached a settlement with the US Securities and Exchange Commission (SEC) following fraud allegations surrounding the collapse of the TerraUSD stablecoin, Reuters reports. The agreement, which was disclosed on the court’s website, was reached after a jury found Kwon and Terraform Labs…
-
10 Major Banks Join Swift’s AI Initiative to Combat $485B in Fraud
•
Swift has announced the launch of two artificial intelligence (AI) pilot programs in collaboration with major global banks to enhance fraud detection in cross-border payments. The initiative aims to leverage AI technology to save the industry billions in fraud-related costs and improve the efficiency of the cross-border payments ecosystem. The…
-
FTX’s Former Executive Ryan Salame Sentenced to Over 7 Years for Fraud and Conspiracy
•
Ryan Salama, who was a high-ranking executive at cryptocurrency exchange FTX, was sentenced to more than seven years in prison on charges of fraud and conspiracy to operate an unlicensed money transfer business, the Financial Times reported. Rayan Salama, 30, pleaded guilty to charges of election fraud and conspiracy to…