Frauds & Scandals

UPS to Pay $45 Million Penalty for Improperly Valuing Business Unit

November 22, 2024/US SEC The Securities and Exchange Commission today announced settled charges against United Parcel Service Inc. for materially misrepresenting its earnings because it failed to follow generally accepted accounting principles (GAAP) in valuing one of its worst performing businesses.    According to the SEC’s order, UPS determined in […]

SEC Charges Three Broker-Dealers with Filing Deficient Suspicious Activity Reports

Firms receive credit for cooperating with SEC’s investigations November 22, 2024/US SEC The Securities and Exchange Commission today announced that broker-dealers Webull Financial LLC, Lightspeed Financial Services Group LLC, and Paulson Investment Company, LLC have agreed to settle charges that they filed with law enforcement suspicious activity reports (SARs) that […]

SEC Charges Three Senior Executives in Two Actions Alleging Massive Bribery Scheme Involving Indian Energy Companies Adani Green and Azure Power

November 21, 2024/US SEC On November 20, 2024, the Securities and Exchange Commission charged Gautam Adani and Sagar Adani, executives of Adani Green Energy Ltd., and Cyril Cabanes, an executive of Azure Power Global Ltd., for conduct arising out of a massive bribery scheme. According to the SEC’s allegations, the […]