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☆ Crypto company Consensys sued by SEC as regulator continues industrywide crackdown
▼ + stars: | 2024-06-28 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +2 min

Crypto firm Consensys has been added to the SEC's list of targets, as the regulator continues its industrywide crackdown. "Consensys violated the federal securities laws by failing to register as a broker and failing to register the offer and sale of certain securities," the court filing alleges. In April, Consensys, which provides blockchain software, tried to preempt the SEC's action with its own lawsuit, alleging overreach on the part of the regulator. The 10-year-old company said its suit followed three subpoenas issued last year, plus a Wells notice from the SEC that claimed Consensys was violating federal securities laws. Consensys said in an emailed statement Friday that the action is part of an "anti-crypto agenda" at the SEC.

Persons: Crypto, Consensys, overreach, Wells Organizations: Securities, Exchange Commission, SEC, Ethereum Locations: Brooklyn , New York, Consensys

☆ Fat Brands and chair Andy Wiederhorn indicted in $47 million 'sham' loan scheme
▼ + stars: | 2024-05-10 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

Federal authorities on Friday charged Fat Brands and its chair Andy Wiederhorn of committing a brazen scheme that netted him $47 million in bogus loans from the restaurant company that owns Fatburger, Johnny Rockets and Twin Peaks. Fat Brands, Wiederhorn and a few other people were criminally indicted by a federal grand jury in Los Angeles for wire fraud, tax evasion and other counts related to the alleged scheme. "These charges are unprecedented, unwarranted, unsubstantiated and unjust," Fat Brands counsel Brian Hennigan said in a statement. As chief executive of Fat Brands, Wiederhorn, 58, allegedly directed the company to loan its own funds to him, with no intention of ever paying the "sham" loans back, according to the indictment. He also did not report any of the so-called loans from Fat Brands as income, according to the indictment.

Persons: Andy Wiederhorn, Johnny, Brian Hennigan, Wiederhorn, overreach —, Nicola Hanna, Wiederhorn's, Thayer, Ron Roe, Rebecca Hershinger, William Amon Organizations: Brands, Johnny Rockets, U.S . Securities, Exchange Commission, Fat Brands, SEC, Fog, Wiederhorn Locations: Los Angeles, Oregon, U.S

☆ Opinion: Supreme Court drops the H-bomb and D-bomb
▼ + stars: | 2023-07-02 | by ( Richard Galant | ) edition.cnn.com time to read: +15 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. Graduates of Harvard and other Ivy League schools earn significantly more than most college graduates –— the credential opens doors. Maybe the best confirmation of that is that eight out of the nine Supreme Court justices went to law school at either Harvard or its Ivy rival, Yale. “The court’s decision Thursday is consistent with its view that race-based preferences should and would have a limited shelf life. And the Supreme Court has just guaranteed that this will be the case for many years to come.”“The court made the right decision,” wrote Ilya Somin, a law professor at George Mason University.

Persons: Harvard College Dean Rakesh Khurana, ”, Harvard isn’t, –, Michael Gerhardt, Roe, Wade, Donald, Trump, Bill Bramhall, Tan, ” Ana Fernandez, Richard Kahlenberg, Harvard …, Lanhee Chen, Peniel, Joseph, Joe Biden’s, Rachel Clark, “, Ilya Somin, Biden, ” Clay Jones, Somin, Leah Litman, isn’t, aren’t, Timothy Holbrook, Nicole Hemmer, Drew Sheneman, Phil Hands, Julian Zelizer, Yorkers, Walt Handelsman, Jill Filipovic, ’, Patrick T, Brown, DeSantis, Duncan Hosie, Ken Ballen, Trump Jack Ohman, Jennifer Martin, ” Martin, Vladimir Putin’s, Yevgeny Prigozhin, Wagner, Prigozhin, David A, Putin, Jade McGlynn, CNN’s Chris Good, it’s, Frida Ghitis, Keir Giles, Victory, Don’t, Agency Dean Obeidallah, Keith Magee, France Kara Alaimo, Vicki Shabo, Leroy Chiao, Abdullah, Billy Lezra, MonaLisa Leung Beckford, Timothy Naftali, David Horsey, It’s, Blake Moore, Marc Veasey, Hershel “ Woody ” Williams, Moore, Veasey, “ Williams, Williams, Hershel ‘ Woody ’, Abraham Lincoln, ” Moore, Lincoln Organizations: CNN, Harvard, Harvard College, Wall Street Journal, of Harvard, Ivy League, Yale, Supreme Court, University of North, University of North Carolina —, Wellesley College, Blacks, …, George Mason University, “, University of Michigan, Democratic, Agency, Trump, New Yorker, American Academy of Sleep, Soviet Union —, RFK, Republican, Utah Republican, Texas Democrat, Marines Locations: Boston, University of North Carolina, California, “, Chicago, Detroit, Great, Bedminster, New Jersey, New, Iran, Ukraine, Russia, Soviet Union, Moscow, France, Hong Kong, China, America, Utah, Texas, Iwo Jima, Lincoln

☆ Kevin McCarthy's oversight agenda will be 'a recurring skit on SNL' if he makes MAGA cheerleaders Marjorie Taylor Greene and Lauren Boebert investigators: GOP strategists
▼ + stars: | 2022-12-12 | by ( Warren Rojas | ) www.businessinsider.com time to read: +8 min

Reps. Marjorie Taylor Greene and Lauren Boebert want in on the GOP oversight blitz. the Oversight Committee member said of the need to keep congressional probes above board. McCarthy's office has repeatedly told Insider that the House GOP steering committee, which McCarthy leads, will handle assignments for the next Congress "at the appropriate time." Aaron Cutler, a former House GOP leadership aide and now partner at Hogan Lovells, urged House Republicans to avoid "focusing on the wrong things," and to cut bait if needed. Michael Reynolds-Pool/Getty ImagesGiven that some sort of spectacle is probably unavoidable at this point, Roe urged House Republicans to tread carefully.

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