Risk & Compliance

Fraud

CEO of Digital Ad Startup Charged With Fraud

Andrew Chapin falsely represented to investors that well-known brands including Nike and Patagonia were using his company Benja's services, the SEC says.

Matthew Heller
November 24, 2020
Credit

PPP “Loan Necessity” Form Causes a Stir

A questionnaire asking borrowers to justify their $2 million-plus Paycheck Protection Program loans is confusing and burdensome, says the AICPA.
Regulation

FTC Says Fintech Startup Beam Misled Consumers

Beam allegedly made false promises to users of its app that it would provide them with 24/7 access to their funds and substantial interest rates.
Regulation

Facebook, Twitter CEOs Defend Their Election Actions To The Senate

Mark Zuckerberg told Sen. Mike Lee, Utah Republican, that the company occasionally made "mistakes."
Legal

Feds Subpoena Nikola as Part of Fraud Probe

The electric vehicle maker has been under scrutiny since a short-seller accused it of misleading investors about its technology.
Regulation

EU Charges Amazon With Antitrust Violations

Regulators say Amazon illegally uses nonpublic data that it collects from sellers on its retail platform to boost sales of its own-label products.
Workplace Issues

Apple Rebukes Supplier for Labor Code Violations

The company's decision to put Taiwan's Pegatron on probation underscores the “challenge facing Apple as it seeks to address abuses in its supply chain."
Regulation

Wells Fargo Former Execs Charged With Misleading Investors

The SEC said John Stumpf and Carrie Tolstedt misled investors about the bank’s success in selling multiple products to customers.
COVID-19

Early Analysis Shows Pfizer COVID-19 Vaccine 90% Effective

The company said 50 million doses of its two-shot vaccine could be available globally by the end of 2020.
Credit

Court Orders Release of PPP Borrower Details

The decision was a victory for media organizations that sued the SBA for access to data about roughly $600 billion in COVID-19 loans to small businesses.
COVID-19

COVID-19 Vaccines Could Generate Over $10B Annual Revenue

Analysts estimate that people will need the vaccine every year, like a flu shot, at a projected cost of $20 per dose.
Regulation

Nebraska Voters OK 36% Cap on Payday Loan Interest

“This is a huge victory for Nebraska consumers and the fight for achieving economic and racial justice."
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