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☆ New York tax preparer charged with causing more than $100 million in losses from fraudulent returns
▼ + stars: | 2024-04-15 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Damian Williams, U.S. Attorney for the Southern District of New York, speaks during a press conference in New York City, Sept. 22, 2023. A New York tax preparer was arrested Monday on charges related to causing "substantially" more than $100 million in tax losses through the filing of false returns — one of the largest tax frauds ever by a preparer, federal prosecutors said. The false information allegedly included bogus itemized deductions, fake capital losses, and phony business expenses and tax credits. ATAX New York grossed more than $15 million from 2016 through 2019, according to Thomas Fattorusso, the IRS special agent in charge of criminal investigations. Alvarez was the CEO, owner and manager of ATAX from 2010 through 2020, and the firm during that time prepared more than 90,000 income tax returns, according to prosecutors.

Persons: Damian Williams, preparer, Rafael Alvarez, Alvarez, Thomas Fattorusso, ATAX Organizations: Attorney, Southern, of, New, Manhattan U.S, ATAX New, IRS, Attorney's Locations: U.S, of New York, New York City, New York, York, Manhattan, ATAX, ATAX New York, United States, disgorgement

☆ Trump posts $175 million bond in New York civil fraud case
▼ + stars: | 2024-04-01 | by ( Kara Scannell | Jeremy Herb | ) edition.cnn.com time to read: +2 min

CNN —Former President Donald Trump has posted a $175 million bond as he appeals the judgment against him in the New York civil fraud case brought by state Attorney General Letitia James. (Trump himself was ordered to pay $454 million; the $464 million includes the disgorgement for his adult sons Don Jr. and Eric.) That prompted James to take steps to prepare to seize Trump’s assets in the event Trump failed to post bond. When the 30-day deadline hit, however, the New York appeals court stepped in and lowered the bond to $175 million, giving Trump an additional 10 days. “As promised, President Trump has posted bond,” Trump attorney Alina Habba said in a statement.

Persons: Donald Trump, Letitia James, Trump’s, James, Trump, Don Jr, Eric, Judge Arthur Engoron, “, ” Trump, Alina Habba, Jean Carroll Organizations: CNN, Knight Specialty Insurance, Trump Locations: New York, California, York

☆ As Trump's $454 million fraud judgment deadline looms, son Eric gripes 'they want to bankrupt him'
▼ + stars: | 2024-03-24 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

"They're trying to deprive him of his cash, they want to bankrupt him, they want to hurt him so badly," Eric Trump told Fox News in an interview. Trump's son Eric, a co-defendant in the fraud case, accused Attorney General Letitia James on Sunday of trying to bankrupt his father with the judgment. Eric's complaint came days after news that James's office had registered the massive fraud judgment with the Westchester County, New York, county clerk's office. Donald Trump Jr. and Eric Trump have run their father's company since he was elected president in 2016. Losers in New York civil cases must routinely post an appeal bond or be liable for the judgments against them as they appeal a verdict.

Persons: Donald Trump, Morton, Barbara Mandel, Eric Trump, Donald Trump's, James, Eric, Letitia James, Donald Trump Jr, Arthur Engoron, Trump, Engoron Organizations: U.S, Center, Fox News, Trump Organization, Trump Locations: Palm Beach , Florida, York, Westchester County , New York, Trump's, Springs, Manhattan, New York

☆ Legal consequences are harsh and painful when they finally arrive in Trump’s orbit
▼ + stars: | 2024-03-19 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Multiple insurance firms have balked at Trump’s attempt to finance the bond based on the value of his real estate assets. As always with Trump, there is a legal front and a political one. His claims are inaccurate but appear to be politically effective among his supporters who revile political and legal elites in Washington. Therefore, there are good reasons why James – a Democrat – may seek other legal remedies to secure the judgment. Although his case is historic, Navarro is far from the only ex-Trump associate to serve time in jail.

Persons: Donald Trump, Peter Navarro, ’, readying, Trump, —, Trump’s, Andrew McCabe, CNN’s Wolf Blitzer, Judge Arthur Engoron, Letitia James, “, ” James, He’s, Jean Carroll, Joe Biden, Cohen, James, he’s, James –, Democrat –, Hunt, ” Trump, Navarro, Navarro Monday, John Roberts, Roberts, Barrett Prettyman, Anna Moneymaker, ”, Sam Mangel, ” Navarro, Paul Manafort, CNN’s Kristen Holmes, Manafort, Robert Mueller’s Organizations: CNN, Trump, Trump Organization, FBI, New York, ABC, Oval, GOP, Black, Democratic, White, Democrat, Republican, Getty, of Prisons, White House, Republican National Convention, Washington Post Locations: New York, Trump, Manhattan, Washington, United States, Washington , DC, Miami, Milwaukee, Robert Mueller’s Russia

☆ Trump asks appeals court to stay $454 million judgment until his appeal is over
▼ + stars: | 2024-02-28 | by ( Kara Scannell | ) edition.cnn.com time to read: +1 min

CNN —Former President Donald Trump asked a New York appeals court on Wednesday to delay his obligation to post $454 million until his appeal of the civil fraud verdict is over. “The judgment order unprecedented and punitive disgorgement of nearly $460 million and overbroad permanent injunctive relief against Appellants in the absence of legal authority or factual support,” Trump’s attorneys wrote in the filing. Trump has less than 30 days to post the money to prevent the New York attorney general’s office from taking steps to execute the judgment, including potentially move to seize properties. The judge also ordered that an independent monitor, who has been in place at the Trump Organization since 2022, continue in the position for an additional three years. He also said the real estate company needed to install an independent compliance director.

Persons: Donald Trump, ”, Trump, Arthur Engoron, Donald Trump Jr, Eric Trump Organizations: CNN, New, Trump, Trump Organization Locations: York, New York

☆ Trump is racking up $2.6 million in interest for every month that he hasn't paid his $355 million fine
▼ + stars: | 2024-02-21 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

Read previewFormer President Donald Trump has been ordered to pay interest for the $355 million in penalties from the New York case against him, and it's likely already added about $100 million to his total fine. Trump will have to pay interest on this dating back to May 2022, which is currently $20 million. Trump now stands to lose about $32 million from interest per year if he does not clear his $355 million disgorgement. Advertisement"Trump, Donald Trump, Jr., Eric Trump, and his former executives must pay over $450 million in disgorgement and interest," she wrote. Donald Trump Jr. and Eric Trump have each been ordered to pay $4 million in penalties for their involvement in the Old Post Office sale.

Persons: —, Donald Trump, Arthur Engoron, Trump, Engoron, Letitia James, Donald Trump , Jr, Eric Trump, Donald Trump Jr, Christopher Kise, Kise, James, Jean Carroll, Stormy Daniels Organizations: Service, Business, Post, Trump, New York, Newsweek, Department of Justice, White Locations: York, Washington , DC, Ferry, Bronx, Manhattan, Fulton County , Georgia

☆ Judge Engoron’s ruling: What will it mean for Donald Trump’s businesses?
▼ + stars: | 2024-02-17 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

There is still a lot to parse from the ruling and its potential impact on Trump’s business empire, but here’s what we know so far. And Trump himself might have been permanently barred from the New York state real estate industry, something James had requested. The ruling extended the monitor’s role “for no less than three years.”That new governance structure is the reason Judge Engoron cited for not cancelling the Trumps’ business certificates. “The court’s decision to impose governing requirements [on Trump’s businesses] makes the injunction more likely to survive appeal,” Thomas said. First, at the Appellate Division and then at the New York State Court of Appeals.

Persons: Donald Trump, Trump, Donald Jr, Eric, — Trump, Judge Arthur Engoron, Letitia James, “ Trump, ”, Will Thomas, Ross, James, David Cay Johnston, Engoron, “, ” Thomas, can’t, It’s, it’s, recently, Jean Carroll, Thomas, he’s, Johnston Organizations: New, New York CNN, Trump Organization, New York, New York State, University of Michigan’s Ross School of Business, Trump, Independent Monitor, Appellate Division, of Appeals Locations: New York, New York State, ”

Judge Arthur Engoron has issued a ruling in Donald Trump’s’ New York civil fraud trial. New York Attorney General Letitia James is asking for $370 million from Trump and the co-defendants in disgorgement – or ill-gotten gains, alleging he filed fraudulent financial statements that allowed him to obtain loans and insurance policies at more favorable rates. The case goes to the heart of Trump’s image as a successful billionaire and includes accusations of fraud regarding his Trump Tower apartment, Mar-a-Lago estate and several golf courses, among others. Engoron has already ruled that Trump and his co-defendants engaged in fraud and ordered the cancelation of any business certificates they hold in New York, an action that is on hold pending Trump’s appeal. This ruling will address six additional claims against some or all of the defendants including conspiracy, issuing false financial statements, falsifying business records and insurance fraud.

Persons: Arthur Engoron, Donald Trump’s ’, Letitia James, Trump, Engoron Organizations: New York, Trump, disgorgement, New Locations: York, Mar, New York

CNN —Judge Arthur Engoron hit Donald Trump with his biggest punishment to date on Friday, in a ruling that fined the former president $355 million for fraudulently inflating the values of his properties. Combined with the $83 million judgment issued against Trump for defaming E. Jean Carroll, that means Trump has been fined roughly $438 million over the past four weeks. Engoron found that the defendants’ fraud saved them about $168 million in interest, fining Trump and his companies that amount. “Overall, Donald Trump rarely responded to the questions asked, and he frequently interjected long, irrelevant speeches on issues far beyond the scope of the trial,” Engoron wrote. properties that offered a much lower valuation than reported on Donald Trump’s financial statements.

Persons: Arthur Engoron, Donald Trump, Jean Carroll, Trump, Friday’s, Engoron, “, ” Engoron, Letitia James, fining Trump, –, Bernard Madoff, Alexander Pope, ’, Trump’s, fixer ‘, Michael Cohen’s, Cohen, “ Michael Cohen, “ Trump, Michael Cohen, – who’ve, execs Allen Weisselberg, Jeff McConney, Eric Trump’s, “ Eric Trump’s, begrudgingly ”, Eric Trump unconvincingly, Donald Trump’s, Eric, Donald Trump Jr, Ivanka Trump, ”, Christopher Kise, ” Kise Organizations: CNN, Trump, defaming, Trump Organization, New York, Post, Independent, ‘, Trump Org, Independent Monitor, SFC, Washington DC, OAG, Division Locations: New York, Washington , DC, Ferry, Bronx, York, –, disgorgement, Washington

☆ Haley attacks Trump’s morals, age and wealth as she looks to stave off home state loss
▼ + stars: | 2024-02-02 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Haley laid out a stinging character study of the former president in an interview with CNN’s Jake Tapper on Thursday. Grouping Trump with President Joe Biden, she said it was “absurd” that the country would be stuck with two 80-year-old candidates. In recent campaign events, Haley has also questioned Trump’s morality and capacity to tell right from wrong. They had to find a way to exploit Trump’s greatest general election liabilities in the knowledge that most Republican voters had no interest in hearing about them. South Carolina state Rep. Bill Taylor hit back at some of Haley’s recent criticisms that Trump only thinks of himself.

Persons: Nikki Haley, Donald Trump, —, besmirching, Haley, CNN’s Jake Tapper, Joe Biden, Biden, Trump, quagmire, she’s, they’ve, Jeb Bush, Sen, Marco Rubio, Ron DeSantis, DeSantis, ”, ” DeSantis, ” Haley, Hilton, Chris Christie, Liz Cheney, Tapper, “, He’s, he’s, doesn’t, E, Jean Carroll, hadn’t “, Carroll, Haley —, Nancy Mace, ” Mace, Bill Taylor, “ Nikki Haley, Nikki, ” Taylor Organizations: CNN, South, GOP, Trump, Hampshire, United Nations, Gov, Republican, Wyoming, New York Times, UN, Capitol, Republicans don’t, Republicans, South Carolina Rep, Rep Locations: South Carolina, United, Florida, Iowa, America, Hilton Head, Columbia , South Carolina, New York, York, Trump, Columbia, New Hampshire, vise, China, United States

☆ Ex-Trump Org. CFO in talks to plead guilty to perjury charge tied to civil fraud investigation
▼ + stars: | 2024-02-01 | by ( Kara Scannell | ) edition.cnn.com time to read: +3 min

CNN —The former chief financial officer of the Trump Organization is in talks to potentially plead guilty to a perjury charge related to a civil investigation into the real estate company’s finances, people familiar with the matter said. He testified at the criminal tax fraud trial of two Trump Organization entities, which were convicted and fined. The New York Times first reported that Weisselberg was in talks with prosecutors to resolve the investigation. The district attorney’s office has pressured Weisselberg for months about potential charges related to insurance fraud and perjury. The New York attorney general’s office is seeking more than $370 million in disgorgement from Trump as well as a ban from doing business in the state.

Persons: Allen Weisselberg, Weisselberg, Donald Trump, Trump, Seth Rosenberg, Alvin Bragg Organizations: CNN, Trump Organization, New, New York Times, Trump Locations: Manhattan, New York, Trump

☆ Trump civil fraud trial: What to know as the verdict nears
▼ + stars: | 2024-01-30 | by ( Dan Berman | ) edition.cnn.com time to read: +7 min

CNN —A New York state judge has the future of Donald Trump’s business empire in his hands. The civil lawsuit from New York Attorney General Letitia James, a Democrat, is seeking $370 million from Trump and the other defendants (the figure was originally $250 million). The back and forth between the judge, Trump and the former president’s lawyers during the trial was repeatedly heated. “What evidence do you have – I just haven’t seen it – that they knew that there was fraud?” Engoron asked. Furthermore, Trump says, companies like Deutsche Bank wanted to do business with Trump Org.

Persons: Donald Trump’s, Judge Arthur Engoron, Trump, Letitia James, Engoron, What’s, James, ”, Andrew Amer, Allen Weisselberg, Jeff McConney, Mr, ” Amer, “, ” Engoron, Donald Trump Jr, Eric Trump, Ivanka Trump, belittle James, colluding, ” Trump, I’m, “ It’s Organizations: CNN, New York, Democrat, Trump, disgorgement, Trump Organization, Trump Org, Deutsche Bank, Engoron Locations: York, New, Mar, New York, Westchester County , New York

☆ Appeals court upholds 'pharma bro' Martin Shkreli lifetime ban from drug industry
▼ + stars: | 2024-01-23 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

A federal appeals court Tuesday upheld a lifetime ban on "pharma bro" Martin Shkreli from working in the pharmaceuticals industry as well as an order to pay up to $64.6 million in disgorged profits for blocking competition to the drug Daraprim. His lawyer, Benjamin Brafman, in a statement to CNBC on the appeals court decision, said, "The lifetime ban is too severe." In its eight-page ruling, the appeals court noted that Shkreli argued that Manhattan federal court Judge Denise Cote "abused" her discretion in imposing a lifetime ban on him from the drug business. "The district court found, and Shkreli does not dispute, that Shkreli's illegal scheme was "egregious, deliberate, repetitive, long-running, and ultimately dangerous." "Given his strategic decision in the district court, there is no injustice to Shkreli by us declining to address his new argument."

Persons: Martin Shkreli, pharma bro, Shkreli, Benjamin Brafman, Brafman, Denise Cote, —, Peluso Organizations: Turing Pharmaceuticals AG, pharma, U.S, Circuit, New, Federal Trade Commission, CNBC, FTC, Vyera Pharmaceuticals, Phoenixus, Mr Locations: New York, California, Manhattan

☆ SEC charges ex-CEO of medical device company with fraud, says some devices were 'just a piece of plastic'
▼ + stars: | 2023-12-19 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

The headquarters of the U.S. Securities and Exchange Commission (SEC) is seen in Washington, D.C., May 12, 2021. The complaint alleges that Perryman misrepresented a Stimwave device that was supposedly able to treat chronic nerve pain by using electrical signals. She was arrested in Delray Beach, Florida, and charged with one count of conspiracy to commit wire fraud and health care fraud, and one count of health care fraud, according to a release. The SDNY on Tuesday filed a superseding indictment against Perryman that added criminal securities fraud charges, the SEC said. Stimwave voluntarily recalled the PNS devices, but Curonix still offers a PNS system called Freedom PNS, according to the Curonix website.

Persons: Laura Tyler Perryman, Perryman, Monique C, Winkler, Stimwave, Curonix Organizations: U.S . Securities, Exchange Commission, Washington , D.C, Technologies, Exchange, SEC, U.S . Food, Drug Administration, San, CNBC, U.S, Attorney's, Southern, of Locations: Washington ,, San Francisco, of New York, Delray Beach , Florida

☆ Swiss Banque Pictet pays $123 mln for helping clients evade US taxes
▼ + stars: | 2023-12-04 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

According to prosecutors, U.S. taxpayers with Pictet accounts in Switzerland and elsewhere evaded about $50.6 million in taxes between 2008 and 2014. As part of the agreement, Banque Pictet agreed to pay $122.9 million to the U.S. Treasury. As part of the agreement, Pictet, which oversees 632 billion Swiss francs ($724 billion) in client assets, will implement remedial measures and cooperate with the authorities' investigation. U.S. authorities have long accused Swiss banks of helping wealthy Americans evade taxes, and Pictet signalled it had been in contact with the U.S. for more than a decade. Credit Suisse in 2014 agreed to pay a $2.5 billion fine for helping Americans evade taxes in a conspiracy that spanned decades.

Persons: Andrew Kelly, Banque Pictet, Jim Lee, Pictet, Julius Baer, Renaud de Planta, Marc Pictet, Luc Cohen, Noele, Jan Harvey, Bill Berkrot, Christina Fincher Organizations: Internal Revenue Service, Washington , D.C, REUTERS, Banque Pictet, Justice Department, Banque, U.S . Treasury, U.S, Credit Suisse, UBS, Prosecutors, Noele Illien, Thomson Locations: Washington ,, Swiss, Switzerland, Pictet, New York, Zurich

☆ US SEC sues Kraken crypto exchange over failure to register
▼ + stars: | 2023-11-20 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Kraken cryptocurrency exchange logo is seen in this illustration taken July 28, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 20 (Reuters) - Kraken, one of the world's largest cryptocurrency exchanges, was sued on Monday by the U.S. Securities and Exchange Commission, which accused it of illegally operating as a securities exchange without first registering with the regulator. In June, the SEC filed similar lawsuits against Binance, the world's largest cryptocurrency exchange, and Coinbase, the largest in the United States. Monday's lawsuit seeks a civil fine, disgorgement of ill-gotten gains, and a halt to acting as a crypto exchange without registering. The case is SEC v Payward Inc et al, U.S. District Court, Northern District of California, No.

Persons: Dado Ruvic, Gary Gensler's, Kraken, Gurbir Grewal, Binance, Jonathan Stempel, Chris Prentice, David Gregorio, Stephen Coates Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Binance, Payward Inc, Payward Ventures Inc, Blockchain, Digital Currency Group, Hummingbird Ventures, Tribe Capital, Payward, Court, Northern District of, Thomson Locations: San Francisco federal, United States, San Francisco, U.S, Northern District, Northern District of California, New York

“No company is too big to ensure that their products do not damage our environment and public health. All New Yorkers have a basic right to clean water, yet PepsiCo’s irresponsible packaging and marketing endanger Buffalo’s water supply, environment, and public health,” James said in a statement. PepsiCo is the single largest identifiable contributor to the plastic waste contaminating the Buffalo River, according to the lawsuit. Microplastics have also been found in fish species that are known to inhabit Lake Erie and the Buffalo River, as well as Buffalo's drinking water supply, according to the lawsuit. The lawsuit alleges that the opposite is happening, and that PepsiCo misled the public about its efforts to combat plastic pollution.

Persons: Letitia James, ” James, Microplastics, ”, Jill Jedlicka, James Organizations: — New York, PepsiCo Inc, PepsiCo, Frito, Lay Inc, Lay, America Inc, state’s Department of Environmental, Buffalo Niagara, Gatorade, Pepsi Locations: ALBANY, N.Y, Buffalo, “, Lake Erie, United States, New York

☆ US SEC enforcement garnered nearly $5 billion in financial remedies last year
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: 1 min

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Nov 14 (Reuters) - The U.S. Securities and Exchange Commission (SEC) filed 784 enforcement actions in the fiscal year that ran through September, garnering $4.95 billion in penalties and other financial remedies, the agency said in a statement on Tuesday. The total financial remedies in fiscal 2023 were the second-highest in SEC history, following last year's record of $6.4 billion, including both disgorgement and interest in addition to civil penalties, and underscored how the agency has sought to more aggressively police violations and misconduct under Democratic leadership. Reporting by Chris PrenticeOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Chris Prentice Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, SEC, Democratic, Thomson Locations: Washington ,

☆ Son burn: Donald Trump Jr. learns on the stand that AG wants even more fraud penalties thanks to his $60M golf-course sale
▼ + stars: | 2023-11-02 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

Donald Trump, Jr., completed two days of testimony in the Trump civil fraud trial in New York. AdvertisementAdvertisementNew York officials want even higher penalties from Donald Trump than the $250 million they've already said they're seeking, it was revealed during testimony Thursday by Donald Trump, Jr. It was signed by Donald Trump Jr., president of Trump Ferry Point LLC, which held the lease. There was another flurry of objections, cut short when Donald Trump, Jr. cheerfully mooted the dispute by cracking, "I didn't make any." AdvertisementAdvertisementThe AG's office has said it will ask for a total of at least $250 million in total "disgorgement" from her lawsuit's defendants: Donald Trump, Donald Trump, Jr., Eric Trump, and longtime Trump Organization executives Allen Weisselberg and Jeffrey McConney.

Persons: Donald Trump , Jr, Eric Trump, —, Donald Trump, Trump, Colleen Faherty, Letitia James, Donald Trump Jr, I'm, Faherty, It's, James, Christopher Kise, Arthur Engoron, Allen Weisselberg, Jeffrey McConney Organizations: Service, Trump, New, longtime Trump Organization, Post, Trump International Hotel Locations: New York, Bronx, York, Manhattan, Trump Ferry, Washington ,

☆ Exclusive: Law firm tied to bankruptcy judge resignation did not make conflict disclosures -data analysis
▼ + stars: | 2023-10-30 | by ( Tom Hals | Thomson Reuters | Tom Hals Is An Award-Winning Reporter With Years Of Experience Working In Asia | ) www.reuters.com time to read: +8 min

Freeman also worked as a contract lawyer for Jackson Walker after leaving the firm. Jones and Jackson Walker signed off on the arrangement without disclosing the relationship, court papers show. Until then he was the busiest bankruptcy judge in the United States, overseeing the dissolution or restructuring of corporate titans ranging from Neiman Marcus to J.C. Penney. Bankruptcy judges often serve as mediators in complex cases that are being run by other judges. In the GWG bankruptcy, Jackson Walker on Nov. 30 asked the judge overseeing the case to appoint Jones as mediator.

Persons: David Jones, Jones, Jackson Walker, Elizabeth Freeman, Freeman, Neiman Marcus, J.C, Tom Kirkendall, Jackson, Debtwire, Tehum, Bruce Markell, Tom Hals, Dietrich Knauth, Alexia Garamfalvi, Amy Stevens, Grant McCool Organizations: Reuters, REUTERS, Staff, McDermott International, Houston, GWG Holdings, Wall Street, U.S, Circuit, Appeals, U.S . Department of, Tehum Care Services, Corizon, U.S ., Thomson Locations: Houston , Texas, U.S, WILMINGTON , Delaware, Texas, Houston, United States, Penney, GWG, Wilmington , Delaware, New York

Through the lawsuit, Attorney General James is seeking restitution for investors and "disgorgement of ill-gotten gains," along with a ban on all the three cryptocurrency firms from the financial investment industry in New York. At the heart of the lawsuit is a program that Gemini ran in partnership with Genesis, dubbed "Gemini Earn". Gemini did not reveal any of this information to the investors of Gemini Earn, she added. Genesis and Gemini have clashed several times over the past few months, including over Gemini Earn. DCG said it was blindsided by the attorney general's complaint and the company's CEO Barry Silbert said the lawsuit had "baseless allegations".

Persons: Dado Ruvic, Letitia James, cryptocurrency, Sam Bankman, James, Gemini, Genesis, Mark Zuckerberg, DCG, Barry Silbert, Silbert, Niket, Krishna Chandra Eluri, Shinjini, Shounak Organizations: REUTERS, New York, Genesis Global, Digital Currency Group, Gemini, Meta, Arrows, Thomson Locations: New York, Alameda, Bengaluru

The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. REUTERS/Jim Bourg/File Photo Acquire Licensing RightsCompanies Nano-X Imaging Ltd FollowNEW YORK, Sept 29 (Reuters) - Nano-X Imaging (NNOX.O) and its founder Ran Poliakine agreed to pay nearly $1.1 million to settle U.S. Securities and Exchange Commission charges accusing the Israeli medical imaging company of negligently misleading investors about the cost to make its flagship product. The SEC said Nano-X also touted the misleadingly low estimate before and after its August 2020 initial public offering, which raised $165 million. Poliakine was Nano-X's chief executive at the time of the misleading statements, and is now non-executive chairman, the SEC said. Without admitting or denying wrongdoing, Nano-X and Poliakine agreed to pay respective civil fines of $650,000 and $150,000, and Poliakine will pay $267,000 in disgorgement plus interest.

Persons: Jim Bourg, Ran Poliakine, Poliakine, Jonathan Stempel, Chris Reese Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, X Imaging, U.S, Securities, Exchange, Thomson Locations: Washington, New York

☆ Biden's son Hunter sues Giuliani, lawyer over alleged data breach
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +3 min

Hunter Biden, son of U.S. President Joe Biden, departs federal court after a plea hearing on two misdemeanor charges of willfully failing to pay income taxes in Wilmington, Delaware, U.S. July 26, 2023. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsWASHINGTON, Sept 26 (Reuters) - U.S. President Joe Biden's son, Hunter Biden, sued Rudy Giuliani and Giuliani's former lawyer Robert Costello, accusing the pair of violating his privacy over data allegedly taken from his laptop, court documents filed on Tuesday showed. Republicans have focused on Hunter Biden as President Joe Biden, a Democrat, seeks re-election next year. Representatives for Giuliani and Costello could not immediately be reached for comment on the lawsuit. Earlier this month, Costello and his law firm separately sued Giuliani over more than $1.3 million in unpaid legal fees.

Persons: Hunter Biden, Joe Biden, Jonathan Ernst, Joe Biden's, Rudy Giuliani, Robert Costello, Biden, Giuliani, Donald Trump, Costello, Trump, Jonathan Stempel, Susan Heavey, Jonathan Oatis Organizations: REUTERS, Rights, White House, Trump, U.S . Internal Revenue Service, Republicans, Democrat, Democratic, Plaintiff, Thomson Locations: Wilmington , Delaware, U.S, Los Angeles, Delaware

NEW YORK (AP) — JPMorgan Chase agreed Tuesday to pay $75 million to the U.S. Virgin Islands to settle claims that the bank enabled the sex trafficking acts committed by financier Jeffrey Epstein. JPMorgan said that $55 million of the settlement will go toward local charities and assistance for victims. The Virgin Islands, where Epstein had an estate, sued JPMorgan last year, saying its investigation has revealed that the financial services giant enabled Epstein’s recruiters to pay victims and was “indispensable to the operation and concealment of the Epstein trafficking enterprise." JPMorgan sued Staley earlier this year, alleging that he covered up or minimized Epstein's wrongdoing in order to maintain the lucrative account. JPMorgan had already agreed to pay $290 million in June in a class-action lawsuit that involved victims of Epstein's trafficking crimes.

Persons: JPMorgan Chase, Jeffrey Epstein, Epstein, James “ Jes ” Staley, Staley, Dánica Coto Organizations: JPMorgan, U.S . Virgin, Virgin, ___ Associated Press Locations: U.S, San Juan , Puerto Rico

CNN —A New York judge has found Donald Trump and his adult sons liable for fraud, saying the Trumps provided false financial statements for roughly a decade. Judge Arthur Engoron’s ruling came days before the civil case involving the New York attorney general’s office and the former president was set to go to trial. Engoron granted Attorney General Letitia James’ motion for summary judgment, finding Trump, his sons, and others “to be liable as a matter of law for persistent violations” of New York state law. He found the financial statements the Trumps provided to lenders and insurers for about a decade to be false and said they repeatedly engaged in fraud. In the order, the judge rejected Trump’s deposition testimony in which the former president said that the financial statements were not fraudulent because they contained disclaimers.

Persons: Donald Trump, Judge Arthur Engoron’s, Engoron, Letitia James ’, Trump, ” Engoron, “, Chico Marx, Christopher Kise, ”, Eric Trump, ” James, Trump’s, James Organizations: CNN, New, Trump, “ Locations: York, New York, Mar, Seven Springs, Trump, Chico

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