On Apr. 26, 2019, Elon Musk agreed with SEC not to tweet on Tesla's revenue, financial condition, potential merger/acquisition, production, sales numbers. Or new, proposed business line, projection, forecast without lawyer approval. To resolve SEC contempt motion on Feb. 25, 2019, for violating pre-approval requirements of Oct. 16, 2018 final judgement by tweeting on Feb.…
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DoJ $1.5bn Japan and US Ponzi
On Apr. 18, 2019, DoJ said two investment executives were extradited by Japan. Junzo Suzuki and son Paul Suzuki, 40, were charged in 2015 indictment re fraud. Japan arrested Suzukis in Jan 2019 at US request and extradited them on Apr. 17. Junzo Suzuki previously was an executive VP for Asia Pacific of MRI International.…
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CAN BC GVT Real Estate AML
On Apr. 15, CAN BC GVT issued a statement on AML in real estate. Follows CAN BC GVT Apr. 2019 receipt of money-laundering report. Apr. 15 Statement BC AG, Minister of Finance praised commitment by five real-estate organizations. The bodies have jointly committed, to fighting money laundering in the province. To collaborate and develop best…
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SEC $1.2bn Woodbridge Ponzi
On Apr. 11, SEC, DoJ charged Woodbridge owner in $1.2bn Ponzi. Two former Woodbridge Group directors Ivan Acevedo and Dane Roseman were arrested and charged by authorities, with the Woodbridge owner Robert Shapiro. Follows SEC Jan. 2019 court order to Woodbridge pay $1bn settlement, #52374. Charged with conspiracy for mail and wire fraud, money laundering,…
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SEBI Insider Trading Disclosure
On Apr. 2, 2019, NSE clarified that trading restriction period is required to commence not later than end of every quarter till 48 hours after the declaration of financial results. Trading window shall be closed when compliance officer determines that a designated person can reasonably be thought to have unpublished price sensitive information.
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SEC Silicon Valley Startup Fraud
On Apr. 2, SEC fined Silicon Valley start-up CEO $17mn for fraud. Daniel Mattes CEO of Jumio, private mobile payments company charged re fraud. Charges Overstated 2014-14 revenue and sold his shares in the private, secondary market. Complaint alleges he made $14mn selling shares and hiding sales from the board. Falsely told an investor that…
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