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Securities Fraud

This archive displays posts tagged as relevant to securities fraud. You may also be interested in the following pages:

Page 1 of 91

A Case Over $14M Whistleblower Award Serves as a Reminder of Benefits and Risks of Co-Whistleblowers Working Together

Posted  07/9/25
Hundreds of dollars
By the Constantine Cannon Whistleblower Team There is often strength in numbers.  Two or more whistleblowers working together can be a potent combination to bring truth to light.  Each may bring unique knowledge and information, and together the co-whistleblowers can reveal a broader scope or clearer picture of the fraud and improve the chances of a successful outcome – in other words, the whole can be greater...

Tagged in: SEC Whistleblower Reward Program, Securities Fraud,

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UPDATE: DOJ Continues Cryptocurrency Fraud Case Despite Memo Signaling Change in Enforcement Priorities – Case Ends with Conviction

Posted  05/28/25
Blockchain
By the Constantine Cannon Whistleblower Team Guity Verdict for Former CEO of Crypto and Blockchain Company SafeMoon In an earlier article, we wrote about how federal prosecutors in the Eastern District of New York reaffirmed their intent to pursue criminal fraud charges against Braden John Karony, the former CEO of the cryptocurrency and blockchain company SafeMoon.  As we previously analyzed, the decision to...

Tagged in: Cryptocurrency, Money Laundering, SEC Whistleblower Reward Program, Securities Fraud,

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SEC Charges Founder of Crypto Asset and Foreign Exchange Trading Company with $198 Million Fraud Scheme

Posted  05/12/25
crypto
By the Constantine Cannon Whistleblower Team On April 22, 2025, the Securities and Exchange Commission charged Ramil Palafox, the founder of PGI Global, with orchestrating a $198 million fraud scheme that preyed upon international investors. He also allegedly misappropriated over $57 million of investor funds to purchase luxury items, including Lamborghinis. As in a classic Ponzi scheme, the remaining funds were...

Tagged in: Cryptocurrency, SEC Whistleblower Reward Program, Securities Fraud,

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DOJ Continues Cryptocurrency Fraud Case Despite Memo Signaling Change in Enforcement Priorities

Posted  04/29/25
cryptocurrency graphic with dollar sign
Despite a memorandum signaling the DOJ under Trump Administration will scale back certain enforcement actions involving cryptocurrency and digital assets, federal prosecutors in the Eastern District of New York recently reaffirmed the DOJ’s intent to pursue criminal fraud charges against Braden John Karony, the former CEO of the cryptocurrency and blockchain company SafeMoon. The Charges Against SafeMoon’s...

Tagged in: SEC Whistleblower Reward Program, Securities Fraud,

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Former CEO of e-Commerce App nate Charged with Securities Fraud for Allegedly False Claims About AI

Posted  04/17/25
ecommerce shopping on device
By the Constantine Cannon Whistleblower Lawyer Team This year, we’ve been tracking the notable spike in enforcement actions concerning AI washing or other AI-related fraud. These types of schemes generally involve an individual or company allegedly deceiving investors with misstatements or omissions about AI use or capabilities to make the company appear better than it is. Another such enforcement action came...

Tagged in: SEC Whistleblower Reward Program, Securities Fraud,

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Startup Scandals and the Risks of “Fake-It-Till-You-Make-It” Culture

Posted  04/11/25
Office with workers
By the Constantine Cannon Whistleblower Team Startups and entrepreneurs should be admired. It takes courage to go out on your own, take big risks, and try to bring a new idea to market. They have an unrelenting drive to succeed. But there are very real legal risks when that drive leads to a “fake-it-till-you-make-it” culture that crosses the line. In recent years, the government has cracked down on these types...

Tagged in: Importance of Whistleblowers, Securities Fraud,

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Top 10 SEC Recoveries for 2024

Posted  01/24/25
Securities Exchange Commission Logo on Building
It was not necessarily the biggest year for Securities and Exchange Commission (SEC) securities fraud recoveries, with only a handful in the hundred-million-dollar range and only one in the billions.  But it was a very active year nonetheless, with the SEC under Gary Gensler pursuing a very aggressive approach to enforcing the securities laws. With Gensler's recent departure, and Paul Atkins taking the reins, all...

Tagged in: SEC Whistleblower Reward Program, Securities Fraud, Top 10,

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SEC Announces Settled Charges Against Pharma Company and Executives for Misleading Investors about FDA Clinical Review of Drugs

Posted  12/3/24
Securities and Exchange Commission seal on building
The SEC continues to go after pharmaceutical companies for securities law violations in connection with misleading investors.  The most recent example is the SEC’s settled charges against a publicly traded biotherapeutics company called Kiromic BioPharma, Inc. (KRBP), the company’s former CEO, and its former chief financial officer. In this case, Kiromic was working on developing two cancer fighting drugs...

Tagged in: FDA Fraud, SEC Whistleblower Reward Program, Securities Fraud,

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Top Ten SEC and CFTC Recoveries of 2023

Posted  01/24/24
Foreign Exchange Graph
It was an active year for fraud enforcement at the Securities and Exchange Commission (SEC) and Commodities Futures Trading Commission (CFTC).  Though by no means was it a record year for either regulator in terms of big-ticket wins.  Aside from the CFTC's $1.7 billion recovery from South African crypto company Mirror Trading for foul play with foreign currency transactions, the balance of the Top-10 recoveries was...

Tagged in: Bribery and Bid-Rigging, Cryptocurrency, FCPA, Financial and Investment Fraud, Fraud in CFTC-Regulated Markets, Misrepresentations, Securities Fraud, Top 10,

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Top FCPA Recoveries of 2023

Posted  01/19/24
Mix of Foreign Currency Scattered Around
The Foreign Corrupt Practices Act (FCPA) bars payments to foreign officials for any kind of business advantage, such as securing government contracts or other kinds of favorable business treatment.  The statute covers any form of consideration including gifts, meals, travel, and entertainment.  It also imposes strict record-keeping and internal control requirements to prevent falsifying company books and records...

Tagged in: Ballsy Bribes, Bribery and Bid-Rigging, Falsifying Invoices, FCPA, SEC Whistleblower Reward Program, Securities Fraud, Top 10,

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