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Law
fromAxios
3 days ago

Charlie Javice sentenced to 7 years in prison for defrauding JP Morgan

Charlie Javice convicted of conspiracy, wire, bank and securities fraud for fabricating data and overstating Frank's size; sentenced and ordered to pay $309,862,055 restitution.
fromSun Sentinel
6 days ago

Investors spent $112 million to fund online rebirth of RadioShack, Pier 1 Imports and others. It was fraud, SEC says.

In a complaint filed in U.S. District Court in Miami, the Securities and Exchange Commission on Thursday charged co-founders of Retail Ecommerce Ventures LLC with carrying out fraudulent securities offerings, misusing investor funds and making Ponzi-like payments to investors. According to the SEC complaint, the company's primary business was to purchase distressed but recognizable retail companies and convert them into online-only operations.
US news
fromFortune
1 week ago

Harvard Business School grad charged with swindling fellow alums out of $4 million in Ponzi scheme | Fortune

It will be your best investment. The insight is air tight.
US news
Startup companies
fromFortune
4 weeks ago

CEO who ran tech unicorn once valued at $1.2 billion charged with fraud after allegedly spending millions on his wedding and art classes

Former IRL CEO Abraham Shafi allegedly misled investors about organic user growth and hid paid-ad spending, resulting in criminal and SEC charges.
#tesla
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#insider-trading
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Brooklyn
fromBrooklyn Eagle
3 months ago

Sentenced to 18 years for fraud, in a second round of prison

Richard Sterritt was sentenced to 18 years in prison for swindling $17 million from investors.
#investment-fraud
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fromEntrepreneur
4 months ago

$100 Million Deli Fraudster Sentenced to Prison | Entrepreneur

"I'm terribly sorry for my part. This episode has been the worst time of my life." - Peter L. Coker Sr.
NYC startup
Fundraising
fromBrooklyn Eagle
4 months ago

Former private equity executives sentenced to prison

Gentile and Schneider sentenced to prison for defrauding investors in GPB Capital scheme. Their actions led to significant financial losses for over 10,000 investors.
fromBusiness Insider
5 months ago

The chairman of a failed 'TikTok killer' pleaded guilty to lying to investors to inflate the company's stock

I did everything Ted asked me to do and never questioned him. I concealed my relationship with Ted from the board and shareholders and allowed others to use my signature, not telling investors and the public that the company was failing even though I knew it was.
Venture
fromBusiness Insider
5 months ago

NASCAR fraudster pleads guilty to tricking his hedge fund investors, scuttling Monday jury trial

"The judge's decisions were limiting a great deal of the evidence," Corozzo explained of the decision that ultimately led Franzone to plead guilty instead of facing a jury.
NYC startup
Artificial intelligence
fromTechCrunch
5 months ago

Week in Review: Jeff Bezos' secret EV startup | TechCrunch

Slate, backed by Jeff Bezos, plans to produce a $25,000 two-seater electric pickup truck by 2026.
Meta is accused of collusion with China by a former executive, raising national security concerns.
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