Michael and Gerald Shvartsman, who had originally pleaded not guilty to securities fraud charges, each pleaded guilty to one count of securities fraud.
Category: Frauds and Swindling
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Sam Bankman-Fried Sentenced to 25 Years in Prison
Mr. Bankman-Fried, who was convicted of stealing $8 billion from customers of his FTX cryptocurrency exchange, faced a maximum sentence of 110 years.
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How Sam Bankman-Fried’s Sentence Compares With Other White-Collar Cases
Here’s how the former crypto mogul’s 25-year sentence stacks up against the prosecutions of Michael Milken, Bernie Madoff and others.
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The Government’s Struggles With Outsourcing Software Development
The bloated cost of the ArriveCAN app and new investigations into possible fraud have highlighted some problems with turning to outside companies.
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I.R.S. Stepping Up Efforts to Squash Fraud in Tax Credit Program
The Employee Retention Tax Credit continues to be ripe for abuse as Congress mulls shutting the program down.
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A Mexican Drug Cartel Targets Retirees and Their Timeshares
One of Mexico’s most powerful criminal groups, Jalisco New Generation, runs call centers that offer to buy retirees’ vacation properties. Then, they empty their victims’ bank accounts.
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China Evergrande Founder Accused of Exaggerating Revenue by $78 Billion
China’s securities regulator fined the developer’s founder, Hui Ka Yan, and banned him from participating in the country’s financial markets for life.
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Prosecutors Say Sam Bankman-Fried Should Get 40 to 50 Years in Jail
Mr. Bankman-Fried, who was convicted of seven counts of fraud and conspiracy, faces a maximum penalty of 110 years.
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Strategic Financial Solutions, Facing Fraud Charges, Is Blocked From Operating
Strategic Financial Solutions is accused of fraud in a lawsuit by federal and state prosecutors.
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Wayne LaPierre: Dapper as Charged
His financial misdeeds may have led to conviction, but his extravagant sartorial tastes proved little help to the former NRA chief’s case.