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Enforcement
Enforcement
New York: Former SPAC CFO Pleads Guilty to Fraud Charges
By Editors | 05/01/2023
The former CFO embezzled money from a SPAC to pay for personal expenses and trade in meme stocks and crypto assets. He also incorporated two other SPACs to conceal his theft.
ESG / Sustainability
ASIC Fines Another Listed Energy Firm for Alleged Greenwashing
By Editors | 05/01/2023
ASIC says Black Mountain Energy made misleading statements in three ASX announcements regarding a natural gas development project.
AML / KYC
NYDFS Ends Coinbase AML Probe With $100m Settlement
By Editors | 05/01/2023
The settlement includes a $50mn penalty and a commitment by Coinbase to invest a further $50mn in its compliance programme over the next two years.
Enforcement
FSC Korea Reorganises Capital Market Fraud Investigation Unit
By Editors | 05/01/2023
The change will improve the efficiency and expertise available for conducting investigations into capital market frauds, the FSC said.
Crypto / Digital Assets
Korean Court Jails Former Crypto Execs for Running Ponzi Scheme
By Editors | 04/01/2023
Crypto exchange V Global promised to triple investments in six months, then used funds from new members to make payouts to existing members.
Crypto / Digital Assets
US Court Sets October Date for Bankman-Fried Trial
By Manesh Samtani | 04/01/2023
Bankman-Fried pleaded not guilty to all eight charges against him. The court set a 2 October 2023 date for trial, which is expected to last about four weeks.
Enforcement
CSRC Bars Two Online Brokers from Onboarding Mainland Investors
By Editors | 04/01/2023
Futu Holdings and Tiger Brokers have been offering offshore trading services to mainland clients though they are not licensed in China.
Enforcement
US FTC Orders Mastercard to Stop Blocking Competing Networks
By Editors | 03/01/2023
The FTC says Mastercard used its control over its “tokenisation” process to block the use of competing payment card networks.
Enforcement
China: Two Former P2P Lending Executives Jailed for 20 Years
By Editors | 03/01/2023
Two executives of now-defunct Tuandai.com were convicted for fundraising fraud and illegal collection of public deposits, among other charges.
Enforcement
Singapore Imposes 36-Year Jail Sentence for Market Manipulation
By Editors | 03/01/2023
John Soh Chee Wen and Quah Su-Ling were sentenced to 36 and 20 years in jail, respectively, for manipulating three penny stocks ten years ago.
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