SEC charges Allianz Global and three former portfolio managers with massive fraud scheme of hiding risk and losses. Allianz agrees to pay $1 billion to settle and $5 billion in restitution to victims

The Securities and Exchange Commission (SEC) today charged Allianz Global Investors U.S. LLC (AGI US) and three former senior portfolio managers with a major fraudulent scheme that hid the immense downside risks of a complex options trading strategy they called “Structured Alpha.” AGI US marketed and sold the...

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SEC charges NVIDIA corporation with inadequate disclosures on impact of cryptomining on company gaming industry and NVIDIA will pay $5.5 million.

The Securities and Exchange Commission today announced settled charges against technology company NVIDIA Corporation for inadequate disclosures concerning the impact of crypto mining on the company’s gaming business.

The SEC’s order finds that, during consecutive quarters in NVIDIA’s fiscal year 2018, the company failed to disclose that crypto mining...

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Hearing Aid Company Eargo Inc pays $34.37 Million to settle Medicare fraud case for unsupported diagnosis codes

Eargo Inc, a public corporation that sells hearing aid devices to consumers nationwide will pay $34.37 million to settle a government case that is submitted claims for reimbursement to the Federal Employees Health Benefit Program that contained unsupported hearing loss diagnosis codes. The regulations require that diagnosis codes must be supported by...

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Crypto industry lobbies against bills targeting Russian Oligarchs from evading U.S. sanctions using cryptocurrency

According to the Blockchain Times, The Blockchain Association is lobbying U.S. lawmakers against two bills designed to prevent Russian oligarchs from using cryptocurrency to evade sanctions imposed after the Ukraine war was launched by Putin and his army. The bills give the authority to prohibit U.S. crypto exchanges from processing payments from...

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Aerojet Rocketdyne settles a major cybersecurity case for $9 million during the trial. DOJ initiative pursuing cybersecurity fraud violations advances

Aerojet Rocketdyne has settled the Government case against it involving allegations the company hid cybersecurity problems from the Government and will pay $9 million and counsel fees. The case was being tried before a federal jury in California in which the whistleblower Brian Markus, Aerojet's former senior director of cybersecurity alleged the...

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