Securities fraud
Former Amazon employee convicted in Capital One hack
Signage is displayed on the exterior of a Capital One Financial Corp. cafe branch in Walnut Creek, California, U.S., on Tuesday, July 18, 2017. Bloomberg | Getty Images A former Amazon Web Services employee was convicted of hacking into Capital One and stealing the data of more than 100 million people nearly three years ago in […]
Read More
Here are the main takeaways from the Jan. 6 Capitol riot committee’s second hearing
U.S. Representative Zoe Lofgren (D-CA), Chairperson Bennie Thompson (D-MS) , Vice Chair U.S. Representative Liz Cheney (R-WY) listen during the second public hearing of the U.S. House Select Committee to Investigate the January 6 Attack on the United States Capitol, at Capitol Hill, in Washington, U.S. June 13, 2022. Joshua Roberts | Reuters The House […]
Read More
More than 46,000 people have lost more than $1 billion to crypto scams since 2021, says FTC
The crypto market can be volatile, but it’s still attractive to young people who have “higher risk appetites,” said Chris Adam of SharpRank. Insta_photos | Istock | Getty Images More than 46,000 people say they lost over $1 billion in crypto to scams since the start of 2021, according to a report released by the […]
Read More
Michael Avenatti sentenced to 4 years in prison for stealing from Stormy Daniels
Stormy Daniels and attorney Michael Avenatti are seen at The Abbey on May 23, 2018 in West Hollywood, California. Tara Ziemba | Getty Images A federal judge in New York on Thursday sentenced disgraced lawyer Michael Avenatti to four years in prison for stealing from his former client, onetime adult film actor Stormy Daniels, who […]
Read More
Do Kwon is unlikely to face prison time for $60 billion UST crypto wipeout — fines and lawsuits are more likely
Do Kwon, co-founder and chief executive officer of Terraform Labs, leaves the company’s office in Seoul, South Korea, on Thursday, April 14, 2022. Woohae Cho | Bloomberg | Getty Images Do Kwon, the 30-year-old South Korean founder of a $60 billion stablecoin project that imploded last month, has a knack for convincing people to buy […]
Read More
Former OpenSea employee charged in first-ever NFT insider trading case
U.S. prosecutors are now going after insider trading in the crypto industry. On Wednesday, prosecutors in New York’s Southern District charged and arrested Nathaniel Chastain, a former product manager at the online marketplace OpenSea. The 31-year-old faces one count of wire fraud and one count of money laundering, in connection with a scheme to commit […]
Read More
Fraud had ‘significant’ role in $163 billion leak from pandemic-era unemployment system
Courtneyk | E+ | Getty Images More than $163 billion in benefits likely leaked from the unemployment system during the pandemic, with a “significant portion” attributable to fraud, according to a U.S. Department of Labor report. Congress created many new programs in March 2020 to support millions of people who lost their jobs from the […]
Read More
Five U.S. states order a metaverse casino with alleged ties to Russia to halt sale of NFTs
Zoom In IconArrows pointing outwards Source: Flamingo Casino Club Regulators in five states simultaneously filed emergency orders Wednesday against a virtual casino they say has ties to Russia and that has been operating in the metaverse, a digital world where participants can interact with each other, purchase products and even gamble. State law enforcement officials […]
Read More
France becomes first big European nation to grant crypto giant Binance regulatory approval
Binance CEO Changpeng Zhao gave a keynote at a Paris crypto industry event in April 2022 to debut a new accelerator program for so-called “Web3” start-ups. Benjamin Girette | Bloomberg | Getty Images Binance has been granted approval from regulators to operate its cryptocurrency exchange in France. The company is now listed as a registered […]
Read More
Citi says a trader error caused Europe’s ‘flash crash’. Here’s how it unfolded
Citigroup said it had identified the cause of the flash crash and corrected the error “within minutes.” Jim Dyson | Getty Images News | Getty Images A so-called “flash crash” in European markets on Monday prompted several indexes to tumble sharply, sparking alarm among investors on a day when trading was thin due to public […]
Read More