18/9/2018/Mastercard Mastercard has reached an agreement to settle monetary damages claims in the U.S. merchant class-action litigation. The agreement formalizes prior discussions and has been executed by all of the defendants – including Mastercard, Visa and a number of banks – and the court-appointed class counsel for the merchants. The […]
Frauds & Scandals
SEC Halts Microcap Fraud Scheme Orchestrated Through International Accounts
3/10/2018/US SEC The Securities and Exchange Commission yesterday filed an emergency action and obtained an asset freeze against two individuals and their companies in a scheme that generated more than $165 million of illegal sales of stock in at least 50 microcap companies. SEC investigators unraveled the multi-year scheme with […]
Court Enters $64 Million Judgment Against Connecticut-Based Investment Professional
3/10/2018/US SEC On September 27, 2018, a federal district court in Connecticut ordered a Greenwich, Connecticut investment professional charged by the Securities and Exchange Commission with fraudulently diverting tens of millions of dollars from the venture capital funds he advised, to pay over $64 million. The final judgment ordered Iftikar […]
