NY-based company to pay $20.5 million to settle charges September 5, 2023/IMF The Securities and Exchange Commission today charged Prime Group Holdings LLC, a private equity firm focused on alternative real estate asset classes, for failing to adequately disclose millions of dollars of real estate brokerage fees that were paid […]
Frauds & Scandals
AfDB Debars Beza Consulting Engineers, Gidey Gebrezgabher Gebremariam for 15 Months for Fraudulent Practices
During the debarment period, Beza Consulting Engineers PLC and its affiliates and Mr. Gidey Gebrezgabher Gebremariam will be ineligible to participate in Bank Group-financed activities September 1, 2023/AfDB The African Development Bank Group on 29 August 2023, announced the 15-month debarment of Beza Consulting Engineers PLC and Mr. Gidey Gebrezgabher […]
SEC Charges Citigroup Global Markets Inc. with Recordkeeping Failures concerning Underwriting Expenses
August 29, 2023/US SEC The Securities and Exchange Commission today announced settled cease-and-desist proceedings against broker-dealer Citigroup Global Markets Inc. (CGMI) for willfully violating recordkeeping requirements concerning expenses that the firm incurred in connection with its underwriting business. Recordkeeping requirements of the federal securities laws require broker-dealers to make and […]