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☆ 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

☆ IPG Mediabrands 'privacy alert' says clients should 'consider' a pause on Google ads product
▼ + stars: | 2023-08-17 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +18 min

Google has disputed the Adalytics report, with a spokesperson describing it in a statement to Insider as "deeply flawed and misleading." An IPG Mediabrands spokeswoman said it was not accurate to say the agency was recommending a pause on any Google product. "What worries me about this Adalytics report is that Performance Max campaigns have allegedly been observed to run on made-for children inventory," Schreurs said. The article also refers to research undertaken by 3rd party (Adalytics) and the Adalytics report also mentions the following IPG/MB clients: 1. GAF For several of the above clients, the Adalytics report references that IPG/Matterkind placed the ad.

Persons: Max, IPG Mediabrands, Adalytics, wasn't, IPG, Ruben Schreurs, Schreurs, Edward J, Markey, Marsha Blackburn, Dyson, Matterkind, Biden's Organizations: Google, YouTube, The New York Times, Federal Trade Commission, COPPA, Republican, New York Times, Brand, Adalytics, NY Times, BMO, BMW, Nike, Intuit, Honda, FTC, United States, Association, MFK Locations: Massachusetts, Tennessee, United, MFK

☆ Colombian conglomerate Grupo Aval, subsidiary settle charges of violating US law
▼ + stars: | 2023-08-10 | by ( Kanishka Singh | Thomson Reuters | Kanishka Singh Is A Breaking News Reporter For Reuters In Washington Dc | ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File PhotoWASHINGTON, Aug 10 (Reuters) - Colombian conglomerate Grupo Aval (GAA.CN) and its bank subsidiary will pay over $80 million to settle charges of violating anti-corruption laws, U.S. authorities said on Thursday. After the settlement was reached, Grupo Aval said the Justice Department did not bring any enforcement action and the SEC did not make a claim against the company for bribery. Corficolombiana will pay a criminal penalty of $40.6 million, the U.S. Justice Department said in a statement. Corficolombiana had conspired with Brazilian construction firm Odebrecht to pay bribes to Colombian government officials, according to prosecutors. Corficolombiana also agreed to continue enhancing its compliance program and providing reports to the Justice Department regarding remediation and the implementation of compliance measures, the Justice Department said.

Persons: Andrew Kelly, Grupo Aval, Corficolombiana, Odebrecht, Kanishka Singh, Isabel Woodford, Leslie Adler, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Grupo Aval, U.S . Foreign, U.S . Justice Department, Securities and Exchange Commission, SEC, Grupo, Justice Department, Odebrecht, U.S, Thomson Locations: Washington ,, Colombian, disgorgement, Swiss, Peru, Mexico, Argentina, Colombia, U.S, Washington

☆ Leon Black agrees to pay $62.5 million to avoid Jeffrey Epstein-related lawsuits in the US Virgin Islands
▼ + stars: | 2023-08-04 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

CNN —Billionaire investor Leon Black struck a multi-million dollar settlement with the government of the US Virgin Islands to avoid any legal claims tied to a Jeffrey Epstein sex-trafficking investigation. According to a settlement document obtained by CNN, Black agreed in January to pay the Virgin Islands government $62.5 million in cash. In exchange, the Virgin Islands released Black from any current and future legal claims related to Jeffrey Epstein. There is no suggestion in the USVI settlement that Mr. Black was aware of or participated in any misconduct.”Black has faced a number of accusations and lawsuits over his ties to Jeffrey Epstein. Last month, the Virgin Islands government said it is seeking $190 million in penalties and disgorgement from JPMorgan Chase, alleging that the bank benefited financially from Epstein’s sex trafficking operation.

Persons: Leon Black, Jeffrey Epstein, Black, ” Whit Clay, ” Black, Epstein, Epstein —, —, ”, Clay, “, JPM Organizations: CNN — Billionaire, CNN, Virgin, Virgin Islands, New York Times, ”, Apollo Global Management, Apollo, ” Forbes, Finance, US, US Virgin Islands, JPMorgan Chase, JPMorgan Locations: U.S, US Virgin

☆ Jeffrey Epstein lawsuit: US Virgin Islands seeks $190 million from JPMorgan Chase
▼ + stars: | 2023-07-14 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

The government for the Virgin Islands said in a court filing it also wants JPMorgan Chase to implement an independent compliance consultant to prevent human trafficking and to separate its business and compliance functions. “This document does not reflect the nature of settlement conversations,” a spokesperson for JPMorgan Chase said. The Virgin Islands’ DOJ filed a brief in the United States District Court in the Southern District of New York on Friday. The Virgin Islands government filed its own lawsuit against JPMorgan Chase in December 2022. JPMorgan Chase CEO Jamie Dimon denied knowing about internal reviews of Epstein’s criminal conduct and his account with the bank when they were happening in depositions for the lawsuit.

Persons: Jeffrey Epstein’s, JPMorgan Chase, Epstein, Jeffrey Epstein, ”, JPM, Virgin, Denise George, Jamie Dimon, “ Organizations: New, New York CNN, JPMorgan Chase, Virgin, JPMorgan, Virgin Islands Department of Justice, Islands ’ DOJ, United States, Court, of, Virgin Islands, US Virgin Islands, ”, Firm, CNN Locations: New York, Florida, Southern, of New York, Manhattan, Beach

☆ BP settles US natgas market manipulation case for $10.75 million
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +1 min

The U.S. Federal Energy Regulatory Commission (FERC) alleged that BP violated the Natural Gas Act by manipulating the next-day gas market at Houston Ship Channel from mid-September through Nov. 30, 2008. BP paid a civil penalty of $24,356,686 in December 2020 and disgorgement of unjust profits of $250,295 in January 2021 in the case. FERC said under the settlement BP will not seek return of the $250,295 of disgorgement it has paid. The case related to actions by BP traders to take advantage of market dislocations around the time Hurricane Ike smashed into the Houston area in September 2008. FERC's Office of Enforcement alleged BP traders made uneconomic physical gas sales to suppress the Houston Ship Channel Gas Daily index and boost the value of BP's financial position.

Persons: Ike, Scott DiSavino, Bill Berkrot Organizations: Bp, BP, U.S . Federal Energy Regulatory Commission, Houston Ship Channel, U.S ., Appeals, Fifth Circuit, FERC, U.S . Court, Federal, FERC's, Enforcement, Houston Ship Channel Gas, Thomson Locations: U.S, Houston

Companies Coinbase Global Inc FollowMay 30 (Reuters) - A former product manager for Coinbase Global Inc (COIN.O) and his brother have agreed to settle U.S. Securities and Exchange Commission (SEC) charges related to insider trading of crypto asset securities. A lawyer for Ishan Wahi declined to comment on the settlement. Ishan Wahi was sentenced to two years in prison earlier this month. In January, Nikhil Wahi was sentenced to 10 months in prison. In pleading guilty to the criminal charges, Ishan Wahi said he did not believe any of the relevant tokens were securities.

Persons: Ishan Wahi, Nikhil Wahi, Gurbir Grewal, Nikhil, ”, Kanishka Singh, Chris Prentice, Hannah Lang, Bill Berkrot, Cynthia Osterman Organizations: Coinbase, Coinbase Global Inc, U.S, Securities, Exchange Commission, SEC, Thomson

☆ Binance 'could be in big trouble' as the CFTC lawsuit alleges the crypto behemoth dodged regulators and breached laws
▼ + stars: | 2023-03-28 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +10 min

Binance is being blow-torched from all angles as US regulators close in on the world's largest crypto exchange. The CFTC sued the exchange this week for violating US financial laws, whilst some reports suggest Binance has engaged in secret fund transfers. On Monday, the Commodities Futures and Trading Commission (CFTC) sued Binance and Zhao himself, for allegedly breaching US financial laws. Following the shocking implosion of Sam-Bankman Fried's FTX exchange late last year, concerns have risen whether Binance faces similar risks. If US authorities decide the links meant the crypto exchange had control over the US platform, it could expose the company to enforcement action.

☆ Binance and founder Changpeng Zhao violated compliance rules to attract U.S. users, CFTC alleges
▼ + stars: | 2023-03-27 | by ( Rohan Goswami | ) www.cnbc.com time to read: +4 min

Beyond disgorgement and any monetary costs, the CFTC filing asked the court to impose further relief, including trading and registration bans. Just days prior to the CFTC filing, CNBC reported on how Binance employees worked to subvert the exchange's compliance controls in China, using some of the same techniques that the CFTC alleges Binance to solicit U.S. users. "Do not directly tell the user to run," Binance instructed its VIP team, the filing alleged. The CFTC filing alleges that Binance engaged in similar activity for its U.S. users. But, Zhao posted a tweet that said "4" in an apparent response to the CFTC filing.

The CFTC sued Binance, Zhao and its former top compliance executive with "willful evasion" of U.S. law, "while engaging in a calculated strategy of regulatory arbitrage to their commercial benefit." "Upon an initial review, the complaint appears to contain an incomplete recitation of facts, and we do not agree with the characterization of many of the issues alleged in the complaint," Zhao said in a statement. Firms such as brokers that facilitate U.S. customers' trading of such products are required to register with the agency. 'PIRATE SHIP'Founded in Shanghai in 2017, Binance sits at the heart of the global crypto industry. With a holding company based in the Cayman Islands, Binance has never revealed the location of its core exchange.

The Securities and Exchange Commission issued crypto exchange Coinbase a Wells notice, warning the company that it identified potential violations of U.S. securities law. "Based on discussions with the Staff, the Company believes these potential enforcement actions would relate to aspects of the Company's spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet," Coinbase said in a regulatory filing. A Wells notice is typically one of the final steps before the SEC formally issues charges. Coinbase described the investigation as "cursory," and said the Wells notice provided relatively little information about potential violations. The SEC sent a Wells notice to stablecoin issuer Paxos in February.

Lindsay Lohan attends/performs during a photocall for "Speed The Plow" at Playhouse Theatre on September 30, 2014 in London, England. The Securities and Exchange Commission has unveiled fraud and unregistered securities charges against crypto founder and Grenadian diplomat Justin Sun, alongside separate violations against the celebrity backers of his Tronix and BitTorrent crypto assets, which included Jake Paul, Lindsay Lohan and Soulja Boy. The unregistered offer and sale charges, on the other hand, are similar to charges the SEC has unveiled against other crypto offerings and exchanges, including Genesis, Gemini and Do Kwon's Terraform Labs. “This case demonstrates again the high risk investors face when crypto asset securities are offered and sold without proper disclosure,” said SEC Chair Gary Gensler. Tron and his backers' alleged behavior was part of an "age-old playbook to mislead and harm investors," SEC enforcement chief Gurbir Grewal said in a statement.

☆ Democratic Sen. Cortez Masto urges FEC to require campaigns to send illegal contributions to Treasury
▼ + stars: | 2023-02-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

Sen. Catherine Cortez Masto, D-Nev., center, her husband Paul, and Sen. Mazie Hirono, D-Hawaii, are seen in the U.S. Capitol on Wednesday, November 16, 2022. Sen. Catherine Cortez Masto, D-Nev., is calling on the Federal Election Commission to require campaigns to send illegal campaign contributions to the U.S. Treasury instead of refunding the money to the original donor. Cortez Masto's call for the new FEC rule comes after numerous foreign donors and companies have been caught making illegal campaign donations. Still, as Cortez Masto points out, the fine could have limited impact on Zekelman as there is expected to be a full refund of the illegal contribution. Though Cortez Masto does not mention cryptocurrency exchange FTX or its co-founder Sam Bankman-Fried in her letter, his contributions to campaigns could come under the same scrutiny by the FEC if it enacted such a rule.

WASHINGTON, Feb 17 (Reuters) - Former pro US basketball star Paul Pierce has agreed to pay more than $1.4 million to settle charges he illegally promoted digital assets, Wall Street's top regulator said Friday. The U.S. Securities and Exchange Commission said Pierce promoted crypto tokens sold by EthereumMax on social media without disclosing he was paid to do so, and made misleading statements about the product. The settlement with the former Boston Celtic and NBA Hall-of-Famer marks the latest move by the SEC to crack down on celebrity endorsements of crypto products. Pierce settled the charges without admitting or denying them, agreeing to pay $1.1 million in fines and another $240,000 representing the disgorgement of ill-gotten gains plus interest, according to the SEC. Last year, the SEC penalized several celebrities, including reality TV star Kim Kardashian and former boxer Floyd Mayweather Jr for their roles in improperly promoting crypto tokens through social media.

☆ Ex-NBA star Paul Pierce will pay $1.4 million to settle charges from the SEC that he made misleading statements while promoting crypto
▼ + stars: | 2023-02-17 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Paul Pierce will pay $1.4 million to settle charges that he made misleading statements while promoting crypto. Kim Kardashian last year paid $1.26 million to settle SEC charges related to EMAX. It found that Pierce didn't disclose that he was paid more than $244,000 worth of EMAX tokens to promote the digital asset on Twitter. EMAX tokens, a crypto asset security sold by EthereumMax, were at the center of the SEC's case against Kim Kardashian last year. The billionaire reality TV star and business owner in October agreed to pay $1.26 million to settle charges stemming from a June 2021 Instagram post about EMAX tokens.

☆ Grocery consumers sue to block Kroger’s $25 bln buy of Albertsons
▼ + stars: | 2023-02-03 | by ( Mike Scarcella | ) www.reuters.com time to read: +3 min

Kroger is the biggest grocer in the U.S. by revenue, and Albertsons is the second-largest supermarket chain. Nearly 5,000 grocery stores would be under one corporate umbrella if the deal, announced in October, goes through. A representative for Albertsons declined to comment on Friday, and a Kroger spokesperson did not immediately respond to a message seeking comment. Kroger operates stores under banners including Harris Teeter, Pay Less and King Soopers. U.S. antitrust law lets private consumers sue over proposed mergers and acquisitions, apart from any enforcement action brought by a state or federal agency policing competition laws.

☆ Crypto firms Genesis and Gemini charged by SEC with selling unregistered securities
▼ + stars: | 2023-01-12 | by ( Rohan Goswami | ) www.cnbc.com time to read: +3 min

The Securities and Exchange Commission on Thursday charged crypto firms Genesis and Gemini with allegedly selling unregistered securities in connection with a high-yield product offered to depositors. Gemini, a crypto exchange, and Genesis, a crypto lender, partnered in February 2021 on a Gemini product called Earn, which touted yields of up to 8% for customers. Genesis should have registered that product as a securities offering, SEC officials said. Gemini's Earn program, supported by Genesis' lending activities, met the SEC's definition by including both an investment contract and a note, SEC officials said. SEC officials said the possibility of a DCG or Genesis bankruptcy had no bearing on deciding whether to pursue a charge.

☆ Bankrupt cryptocurrency lender Celsius Networks allegedly defrauded investors out of billions of dollars
▼ + stars: | 2023-01-05 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

New York CNN —The New York attorney general filed a civil lawsuit Thursday against the co-founder of now-bankrupt cryptocurrency lender Celsius Networks for allegedly defrauding hundreds of thousands of investors who deposited billions of dollars into the platform. The lawsuit against Alex Mashinsky alleges he made false and misleading statements to encourage investors to place billions of dollars in digital assets with Celsius, which filed for bankruptcy court protection last year. “The law is clear that making false and unsubstantiated promises and misleading investors is illegal,” James said in a statement Thursday. When faced with losses, the lawsuit alleges, Mashinsky hid them from investors and continued to tout the safety of the platform to recruit new investors. In extending many of the loans, Celsius accepted FTX’s token, FTT, as collateral.

Jan 5 (Reuters) - Alex Mashinsky, a co-founder of bankrupt crypto lender Celsius Network who prosecutors allege bilked investors out of billions, is a serial entrepreneur who has portrayed himself as a modern-day Robin Hood. The civil lawsuit seeks to ban Mashinsky from doing business in New York and have him pay damages, restitution and disgorgement. James' lawsuit is the latest black eye for the crypto sector, which has been rocked by accusations against FTX crypto exchange founder Sam Bankman-Fried. Mashinsky became involved in crypto in 2017, when his venture fund Governing Dynamics brought on blockchain company MicroMoney as a strategic partner. In an "Ask Mashinsky Anything" YouTube video on June 10, the entrepreneur said "Celsius has billions in liquidity."

☆ New York sues Celsius Network founder Mashinsky, alleges fraud
▼ + stars: | 2023-01-05 | by ( ) www.reuters.com time to read: +2 min

Companies Celsius Network Limited FollowNEW YORK, Jan 5 (Reuters) - New York's attorney general on Thursday sued Celsius Network founder Alex Mashinsky, claiming he schemed to defraud hundreds of thousands of investors by inducing them to deposit billions of dollars with his now-bankrupt cryptocurrency lending platform. "Alex Mashinsky promised to lead investors to financial freedom but led them down a path of financial ruin," James said in a statement. The civil lawsuit accuses Mashinsky of violating the state's Martin Act, which gives James broad power to pursue securities fraud cases, and other laws. It seeks to ban Mashinsky from doing business in New York, and have him pay damages, restitution and disgorgement. But according to the lawsuit, Celsius struggled to pay the promised yields on investor deposits, prompting its move into riskier investments.

CNBC's Andrew Ross Sorkin reported that the charges against Bankman-Fried include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering. Neither the Attorney General of the Bahamas nor the Royal Bahamas Police Force would confirm the nature of the charges against Bankman-Fried. "I didn't ever try to commit fraud," Bankman-Fried said. The CFTC and lawmakers have begun their probes into FTX and Bankman-Fried, who told Sorkin he was down to his last $100,000. Failed lender BlockFi sued Bankman-Fried in November, seeking unnamed collateral that the FTX founder provided for the crypto lending firm.

Bankman-Fried could face a host of potential charges – civil and criminal – as well as private lawsuits from millions of FTX creditors, legal experts told CNBC. There are three different, possibly simultaneous legal threats that Bankman-Fried faces in the United States alone, Levin told CNBC. He told CNBC, "prosecutors would have to prove beyond a reasonable doubt that Bankman-Fried or his associates committed criminal fraud." (Carter was not an FTX investor, and told CNBC that his fund passed on early FTX rounds.) "People should not jump to the conclusion that something is not happening just because it has not been publicly disclosed," Levin told CNBC.

☆ U.S. SEC stepped up enforcement activity in fy2022, assessed record penalties
▼ + stars: | 2022-11-15 | by ( John Mccrank | ) www.reuters.com time to read: +2 min

The total assessed included a record $4.2 billion in civil penalties, up from a total amount of $3.6 billion in 2021, as it filed 760 total enforcement actions, including 462 new or stand-alone ones. The SEC chair previously announced the amount of fines and fees assessed, but the annual report published on Wednesday provided more details in its roundup of activity in the year ended Sept. 30. SEC actions against JP Morgan Securities LLC, 15 other broker dealers, and one investment adviser for widespread and long-standing failures to maintain and preserve work-related text messages conducted on employees' personal devices made up over $1.2 billion of SEC penalties in 2022. The SEC also filed charges against Deloitte's China-based affiliate of failing to comply with U.S. auditing requirements and secured a record penalty against crypto firm BlockFi for selling unregistered securities. Reporting by John McCrank in New York; Additional reporting by Chris Prentice; Editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

The SEC filed 760 enforcement actions in the year ending Sept. 30, up 9% from the year before, according to the agency’s annual enforcement report, which was made public Tuesday. The SEC imposed a total of $6.44 billion in monetary penalties, the highest amount on record and 67% above the previous year. That made it the second-highest year for both the number of awards and dollar amounts of awards issued, the SEC said. PREVIEWThe SEC whistleblower program in August reversed a Trump-era change that would have put a limit on the amount of awards it could provide. The SEC said it was focusing on actions that would deter future violations while encouraging accountability from major institutions.

The Oracle logo is shown on an office building in Irvine, California, U.S. June 28, 2018. The case covered alleged wrongdoing from 2014 to 2019, and is the second time the SEC charged Oracle with violating the federal Foreign Corrupt Practices Act ("FCPA"), an anti-bribery law. According to the regulator, Oracle's Turkey and UAE units also used slush funds to pay for foreign officials to attend technology conferences in violation of Oracle policies. Oracle, based in Austin, Texas, agreed to pay a $15 million civil fine and about $7.9 million of disgorgement and interest. In 2012, Oracle agreed to pay a $2 million fine to settle SEC charges concerning the creation of millions of dollars of unauthorized side funds by Oracle India from 2005 to 2007.

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