The Securities and Exchange Commission settled charges against two investment advisers, Delphia (USA) Inc. and Global Predictions Inc., for making false and misleading statements about their purported use of artificial intelligence (AI). The firms agreed to settle the SECās charges and pay $400,000 in total civil...
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Department of Justice announces new whistleblower program to reveal large corporate or financial misconduct
The new program will reward an individual who āhelps DOJ discovery significant corporate or financial misconductāotherwise unknown to [DOJ]ā by allowing them to qualify to receive a portion of the forfeiture award resulting from an enforcement action.
This new program will focus on ;
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U.S. Treasury probes why U.S. American Club insures ships carrying Iranian oil
Representative Zach Nunn of Iowa, a member of the House Financial services Committee has issued a letter inquiring about American Club, which has apparently insured many vessels suspected to have Iranian links. According to a Bloomberg article, American Club insures more tankers suspected of violating US sanctions than any of its allies....
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Ford to pay $365 Million to settle claims of tariff fraud for misclassified under valued cars
RESS RELEASE
Ford Motor Company will pay the United States $365 million to resolve allegations that it violated the Tariff Act of 1930 by misclassifying and understating the value of hundreds of thousands of its Transit Connect vehicles.
The
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China raises state chip investment by $27 billion which will increase capacity to catch up on cutting edge chips
According to an excellent article in the Economist, China is reportedly raising more than US$27bn for the third phase of its National Integrated Circuit Industry Investment Fund. This is the state-owned investment fund backed by Chinaās finance ministry and state-owned enterprises. This is an example of Chinaās new special...
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SEC charges TallGrass Energy former Board member Roy Cook and four others with insider trading just before Blackstone acquisition
The Securities and Exchange Commission announced insider trading charges against Roy Cook, a former board member of Tallgrass Energy LP, and four of his friends for trading on material nonpublic information in advance of a...
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SEC charges Skechers with making undisclosed payments to Execs family members and it will pay $1.25 Million
The Securities and Exchange Commission has announced that Skechers U.S.A. Inc., a footwear company based in California, agreed to settle charges for failing to disclose payments for the benefit of its executives and their immediate family members. Skechers agreed to pay a...
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Intel stands to make $3.5 Billion for semiconductors for military and intelligence programs
The U.S. government is likely to invest $3.5B in Intel to allow the company to make advanced semiconductors for military and intelligence programs, Bloomberg News reported citing congressional aides. The funds are now in a spending bill the House passed on Wednesday, would set Intel as a commanding local player in the defense...
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Justice Department engages pilot program to pay whistleblowers revealing corporate crime
The Justice Department is launching a new pilot program to reward whistleblowers who tell prosecutors about corporate crime, adding a new incentive to attract more tipsters to aid the government.Tipsters will be paid some of money that defendants forfeit when they settle criminal...
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Chinese national residing in California arrested for theft of artificial intelligence related trade secrets from Google
A federal grand jury has indicted Linwei Ding, aka Leon Ding, charging him with four counts of theft of trade secrets in connection with an alleged plan to steal from Google LLC (Google) proprietary information related to artificial intelligence (AI) technology. The announcement was made by Attorney General...
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