Federal prosecutors have charged Jeffrey Spotts, 58, of Summit, New Jersey, with orchestrating a $294 million securities fraud conspiracy while serving as CEO and co-founder of Prophecy Asset Management LP, …
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SEC
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PHILADELPHIA — A federal grand jury has indicted Daryl F. Heller, a 56-year-old businessman from Lititz, Pennsylvania, for operating a massive Ponzi scheme that defrauded investors out of approximately $402 …
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CryptoCryptocurrency Scams
Alabama Man Pleads Guilty to Hacking SEC’s Social Media, Causing Bitcoin Value Surge
An Alabama man, Eric Council Jr., pleaded guilty on Monday to hacking into the Securities and Exchange Commission’s (SEC) social media account in January 2024 and posting a fraudulent message …
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Fake Financial Services ScamsFinancial
Brentwood Man Sentenced to 2 Years in Prison for Insider Trading Scheme
LOS ANGELES — Shahriyar Bolandian, 36, of Brentwood, was sentenced today to 24 months in federal prison for his involvement in an insider trading scheme that generated more than $650,000 …
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CryptoCryptocurrency Scams
Chinese Entrepreneur Justin Sun’s $30 Million Investment in Trump Crypto Venture
Chinese Billionaire Justin Sun’s $30 Million Investment in Trump’s Crypto Venture Raises Concerns A $30 million investment from Chinese entrepreneur Justin Sun into Donald Trump’s cryptocurrency venture, World Liberty Financial, …
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Ravie Lakshmanan Robert Westbrook, a 39-year-old London resident, has been charged with a massive hack-to-trade fraud scheme that allegedly brought him nearly $3.75 million in illegal profits. The U.S. Department …
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While venture capitalists and tech leaders are enjoying summer breaks or attending the Paris Olympics, the U.S. Securities and Exchange Commission (SEC) is busy with legal action. In a notable …
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Iheanyi Nwachukwu Mariam Suleiman, the Managing Director of Famzhi Interbiz Limited, has been sentenced to five years in prison for defrauding investors of over N2 billion. Justice Inyang Ekwo of …
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Business & Job Opportunity ScamsBusiness-Related
SEC Charges BF Borgers with Fraud, Impacting Trump Media
The Securities and Exchange Commission (SEC) has charged BF Borgers, the independent accounting firm for Trump Media & Technology Group, with widespread fraud, labeling it a “sham audit mill.” The …