On Sep. 11, FINRA charged broker for selling crypto securities. Timothy Ayre charged re unlawful distribution of unregistered security HempCoin. Alleged Violations Ayre tried to get investment in worthless public company, Rocky Mountain Ayre. Publicized as HempCoin “the first minable coin backed by marketable securities”. Ayre made and fraudulent, positive statements on RMTN business and…
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SEC Charge Brokers Churning
On Sep. 10, SEC charged brokers for recommending excess trades. Charges for Florida resident Emil Botvinnik, and NY resident Jovannie Aquino. Were representative with Meyers Associates, LP, (later Windsor Street Capital). For recommending excessive level of trading that are costly to retail customers. Follows similar SEC charges of excessive trading, in Jan., Sep., and Dec.…
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UK ICO British Airways Breach
On Sep. 7, UK ICO, NCSC update on British Airways data breach. Confirmed British Airways had made them aware of an incident, enquiries ongoing. BA Response CEO Alex Cruz said hackers carried out a sophisticated, malicious, criminal attack. The personal or financial details of customers making bookings were compromised. 380k transactions were affected, but data did…
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SEC Nonko Trading Fraud Charge
On Sep. 5, SEC charged two with fraud in fake trading accounts. Jeffrey Goldman and Christopher Eikenberry of Michigan, in Nonko Trading fraud. Profited from a scheme to defraud Nonko’s customers out of at least $1.4 million. Charges include fraud, aiding, abetting Nonko’s fraud, and registration violations. Allegations Nonko was marketed as a state-of-the-art platform…
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SEC Cannabis Fund Fraud Charge
On Sep. 5, SEC charged cannabis investment fund and founder. Charged Texas-based investment fund and founder, with defrauding investors By false promises of making massive returns with cannabis-related businesses. Alleged Violations SEC alleged Greenview Investment Partners L.P. and its founder Michael Cone used misleading marketing materials when raising over $3.3mn from investors. Promised investors up…
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SEC $22mn for Pharma Bribery
On Sep. 4, SEC issued $25mn settlement with Sanofi for bribery. Paris-based company Sanofi was charged for corrupt payments to win business. Alleged Violations Schemes in multiple countries and involved bribes to government procurement officials and healthcare providers to be awarded tenders and buy prescriptions. In Kazakhstan, used distributors as part of kickback scheme to…
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