Multi-level marketing company promoted scheme to defraud more than 200,000 investors worldwide August 12, 2024/US SEC — The Securities and Exchange Commission today announced charges against Cynthia and Eddy Petion, along with their company, NovaTech Ltd., for operating a fraudulent scheme that raised more than $650 million in crypto assets […]
Frauds & Scandals
SEC Charges OTC Link LLC with Failing to File Suspicious Activity Reports
August 12, 2024/US SEC The Securities and Exchange Commission today announced charges against OTC Link LLC, a New York-based broker-dealer, for failing to file numerous reports of suspicious financial transactions, known as Suspicious Activity Reports (SARs), for a period of more than three years. OTC Link agreed to pay $1.19 […]
SEC Charges Ideanomics and Three Senior Executives with Accounting and Disclosure Fraud
August 9, 2024/US SEC The Securities and Exchange Commission today announced settled fraud charges against Ideanomics, Inc., formerly known as Seven Stars Cloud Group, Inc., and its former Chairman and CEO, Zheng (Bruno) Wu, for misleading the public about the company’s financial performance between 2017 and 2019. The SEC also […]