Frauds & Scandals

SEC probes $1bn Milost Global investment in Unity Bank

May 21, 2018/The Sun The Securities and Exchange Commission (SEC) on Monday said it was investigating the $1 billion alleged investment in Unity Bank Plc by Milost Global Incorporated. Efe Ebelo, SEC’s Acting Head, Corporate Communications, who confirmed this  in Lagos said the investigation into the Unity Bank/Milost case was […]

Dismissal Of UK Serious Fraud Office Charges Against Barclays PLC And Barclays Bank PLC

Culled—Proshare May 21, 2018/SFO Barclays announces that the Crown Court has today dismissed all charges brought by the Serious Fraud Office (“SFO”) against Barclays PLC and Barclays Bank PLC regarding matters which arose in the context of Barclays’ capital raisings in 2008.  Following application by Barclays to the Crown Court, […]

SEC Obtains Preliminary Injunction and Continuing Asset Freeze Against Biotech Start-up and CEO

18/5/2018/US SEC On May 18, 2018, a federal district court in Massachusetts entered a preliminary injunction against PixarBio Corporation, Francis M. Reynolds, Kenneth A. Stromsland, and M. Jay Herod, restraining the defendants from violating federal securities laws and maintaining an existing asset freeze until further notice. The SEC’s complaint, filed […]