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Page 16 of 26

American Success Story or an Illegal Tipster for Jury to Decide

Posted  04/11/18
By the C|C Whistleblower Lawyer Team On Tuesday, attorneys delivered opening arguments in the trial of Benjamin Chow, a Chinese immigrant who has been charged with securities fraud in connection with Canyon Bridge Capital Partners’ failed $1.3 billion acquisition of Lattice Semiconductor Corp. Last year, the Trump Administration blocked the Chinese-backed private equity firm from buying the U.S.-based chipmaker,...

Founders of Celebrity-Backed Cryptocurrency Charged with Fraud

Posted  04/3/18
By the C|C Whistleblower Lawyer Team Two founders of Centra Tech, a cryptocurrency firm that was endorsed by Floyd Mayweather, have been charged with carrying out a fraudulent $32 million initial coin (“ICO”) offering by the SEC. The co-founders of Centra, Sohrab Sharma and Robert Farkas, claimed to offer a debit card backed by Visa and Mastercard that allow people to convert cryptocurrency to U.S. dollars to...

Barclays Agrees to Pay $2 Billion in Civil Penalties

Posted  03/30/18
By <the C|C Whistleblower Lawyer Team Barclays will pay the United States two billion dollars to settle a civil action filed in December 2016 in which the United States sought civil penalties for alleged conduct related to Barclays’ underwriting and issuance of residential mortgage-backed securities (RMBS) between 2005 and 2007. Agreement has also been reached with two former Barclays executives who were named as...

SEC Makes Largest-Ever Whistleblower Awards

Posted  03/20/18
The Securities and Exchange Commission yesterday announced its highest-ever Dodd-Frank whistleblower awards.  According to the SEC press release trumpeting the landmark awards under the SEC whistleblower program, two whistleblowers will share nearly $50 million, and a third whistleblower will receive more than $33 million.  The previous high was a $30 million award in 2014. Consistent with its strong commitment...

SEC Fines New York Stock Exchange $14 Million for Regulatory Failures

Posted  03/7/18
By the C|C Whistleblower Lawyer Team In a landmark settlement, the Securities and Exchange Commission (SEC) announced yesterday that it has charged New York Stock Exchange LLC (NYSE) and two affiliated exchanges in connection with five separate investigations into several regulatory failings, including the first ever charge based on a violation on Regulation Systems Compliance and Integrity (Reg SCI)...

Constantine Cannon’s Eric Havian Will Join Panel with SEC, CFTC & IRS Whistleblowing Chiefs at OffshoreAlert Conference

Posted  03/6/18
The SEC's Jane Norberg, the CFTC's Christopher Ehrman and the IRS's Lee Martin will join Constantine Cannon Partner Eric Havian for a panel entitled "Enriching Domestic & Foreign Whistleblowers: The Growth & Spreading Reach of U.S. Programs." The panel will, among other things, look at the growing number of submissions from whistleblowers outside the United States. The OffshoreAlert Conference on financial...

Constantine Cannon’s Eric Havian Will Join Panel with SEC, CFTC & IRS Whistleblowing Chiefs at OffshoreAlert Conference

Posted  03/6/18
The SEC's Jane Norberg, the CFTC's Christopher Ehrman and the IRS's Lee Martin will join Constantine Cannon Partner Eric Havian for a panel entitled "Enriching Domestic & Foreign Whistleblowers: The Growth & Spreading Reach Of US Programs." The panel will, among other things, look at the growing number of submissions from whistleblowers outside the United States. The OffshoreAlert Conference on financial...

Fraudster of the Week -- BitFunder Founder Jon E. Montroll

Posted  02/23/18
By the C|C Whistleblower Lawyer Team On Wednesday, the Securities and Exchange Commission filed a lawsuit against Jon E. Montroll and his former company, BitFunder, alleging violations of the anti-fraud and registration provisions of the federal securities laws. In parallel criminal proceedings, the U.S. Attorney’s Office for the Southern District of New York charged Montroll with perjury and obstruction of...

Dodd-Frank's Anti-Retaliation Protections Apply Only to Whistleblowers Who Report to the SEC

Posted  02/23/18
In Digital Realty Trust, Inc. v. Somers, a 9-0 opinion by Justice Ginsburg, the Supreme Court held that the anti-retaliation provisions of the 2010 Dodd-Frank Act do not extend to employees who have reported internally but extend only to employees who have reported suspected securities law violations to the SEC. The Supreme Court's decision reversed the Ninth Circuit, and resolved a longtime circuit split. The Fifth...

Judge Determines that PricewaterhouseCoopers was Negligent in Colonial Bank Auditing Case

Posted  01/3/18
By the C|C Whistleblower Lawyer Team Late last week, a federal judge determined that accounting giant PricewaterhouseCoopers (PwC) was negligent in its auditing of Colonial Bank, the Alabama institution that failed in 2009 in the midst of the financial crisis. Colonial failed as a result of a $2 billion fraud orchestrated by Florida-based mortgage lender Taylor Bean & Whitaker, a major Colonial customer, which was...
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