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Eric Council Jr., 26, was sentenced to 14 months in prison and three years of supervised release on Friday for participating in the hack of the official X account of the U.S. Securities and Exchange Commission. The U.S. Department of Justice announced the sentencing in a press release. Council and other hackers took over the…
Elon Musk, the CEO of X and various other companies with the letter “X” in their names, is in regulators’ crosshairs after skipping testimony this month in an investigation related to Musk’s takeover of Twitter. In a filing today, the U.S. Securities and Exchange Commission (SEC) said that it intended to seek sanctions against Musk…
The Securities and Exchange Commission (SEC) filed a lawsuit last week against a company and a specific business deal that directly involves President Joe Biden’s younger brother, James Biden. The complaint was filed in the Southern District of Florida against Third Friday Management and Michael Lewitt, a business associate of James’. The Commission alleges Third…
Elon Musk called for an overhaul of the Securities and Exchange Commission (SEC) on Thursday, the same day the agency sued him in an effort to compel him to testify about his purchase of Twitter, the platform now known as X. “A comprehensive overhaul of these agencies is sorely needed, along with a commission to…
Banking executives sold millions in stock before crash: WSJ Executives at First Republic Bank sold company’s stock worth millions of dollars in the months before this week’s crash, according to The Wall Street Journal. The banking executives sold $11.8 million worth of stock in the company over the last two months, with First Republic Executive Chairman…
“Sam Bankman-Fried’s ex Caroline Ellison likely works with feds” Sam Bankman-Fried’s reported ex-girlfriend was likely among the first people to turn on him and help prosecutors build their fast-moving fraud case in the epic, $8 billion-plus collapse of his FTX cryptocurrency exchange, a former US government lawyer said Wednesday, Caroline Ellison, 28, is a key…
“US, Bahamas in tug-of-war over FTX’s $256M real estate portfolio” The Bahamas wants the US government to give back 35 different properties that are valued at more than $256 million that were purchased by Sam Bankman-Fried’s cryptocurrency exchange FTX before it filed for Chapter 11 bankruptcy protection last month. Attorneys representing the Bahamian government told…
“SEC charges Sam Bankman-Fried with $1.8B fraud over FTX scandal” The Securities and Exchange Commission on Tuesday accused Sam Bankman-Fried of defrauding investors out of $1.8 billion, a day after the disgraced crypto mogul was arrested in the Bahamas. The 30-year-old wunderkind — who may also be facing a criminal indictment from US prosecutors over…
SEC charges former FTX CEO with defrauding investors in ‘house of cards’ The Securities and Exchange Commission (SEC) has charged former FTX CEO Sam Bankman-Fried with organizing a scheme to defraud investors after he was arrested in the Bahamas on Monday ahead of expected charges being filed. “We allege that Sam Bankman-Fried built a house…
“Freshpet investors howl as execs work for rival pet-food seller” Investors in Freshpet — an upscale pet food maker whose stock soared during the pandemic but has tanked this year — are hissing and howling after learning that some of the company’s top executives and directors have quietly been moonlighting at a startup that also…