Coinbase is expanding its legal team, hiring Christian Sabello, recent Director at the SEC, who joins Coinbase as head of cryptocurrency exchange’s capital markets work

Coinbase, the first major cryptocurrency broker to go public with an opening day valuation on the Nasdaq, is expanding its legal team, perhaps in anticipation of increased regulation by the US and other nations. It has hired Christian Sabella, who was recently acting director of the U.S. Securities and Exchange Commission’s Division...

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Securities & Exchange Commission files major suit against BitConnect promoters for $2 billion digital currency offering without proper registration

The Securities and Exchange Commission filed a lawsuit Friday in federal court in Manhattan alleging that five individuals promoted a global unregistered digital asset securities offering that raised over $2 billion from retail investors.

According to the SEC's complaint, filed in the United States District Court for the Southern...

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Military vehicles maker Navistar Defense pays $50 million to settle whistleblower False Claims Act case for false sales histories

Military vehicles manufacturer, Navistar Defense LLC (Navistar), will pay $50 million to resolve a whistleblower case in which it was revealed  that it fraudulently induced the U.S. Marine Corps to enter into a contract modification at inflated prices for a suspension system for armored vehicles known as Mine-Resistant Ambush Protected vehicles. During...

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New charges filed against president of medical technology firm alleging conspiracy to pay kickbacks and submit over $70M in false claims for COVID tests

A federal grand jury handed down a superseding indictment against the president of California-based medical technology company Arrayit Corporation, Mark Schena, in connection with the submission of over $70 million in false and fraudulent claims for allergy and COVID-19 testing.  Additionally, a criminal information was filed against each of Paul Haje, Arrayit’s...

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SEC awards whistleblower $28 million in Panasonic Avionics Case

The U.S. Securities and Exchange Commission said it awarded more than $28 million to a whistleblower whose tip helped them and the Justice Department launch investigations that led to bribery charges against a U.S. subsidiary of Japanese electronics company APanasonic Corp. and former executives. Lawyers representing the whistleblower said the award was connected to...
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