Fraud

Fraud

uBiome Founders Charged With $60 Million Fraud

The SEC says Jessica Richman and Zachary Apte misrepresented that their biotech startup was generating reliable revenue from insurance reimbursements.

Matthew Heller
March 19, 2021
Ex-Dewey & Leboeuf, Fraud
Fraud

Seven Accused of $45M Pump-and-Dump Fraud

Kelly Kabilafkas allegedly orchestrated a fraud that culminated in him and his associates dumping shares in Airborne Wireless Network.
Fraud

Coinseed Accused of Illegal Digital Token Sales

The crypto platform allegedly sold tokens without registering the offerings and misrepresented the financial services experience of its former CFO.
Credit

Loan System Bugs Holding Up PPP Loans: AICPA

In a letter to the SBA this week, the AICPA said legitimate loan applications are being denied acceptance because they are being incorrectly flagged.
Fraud

Luckin Coffee Fined $180M in Accounting Fraud

The SEC says the Chinese retailer fabricated more than $300 million in coupon sales to present a false picture of rapid growth to investors.
Fraud

Disbarred Attorney Charged With Microcap Fraud

Richard Rubin, who formerly worked for the SEC, allegedly collaborated with a Florida lawyer to issue phony opinion letters for microcap stock offerings.
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.
Fraud

Cryptocurrency Crime Fell Last Year

A report by CipherTrace finds that losses from cryptocurrency theft fell 57% in 2020.
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.
Risk & Compliance

SEC Fines From Enforcement Hit Record $4.68B

The number of new enforcement actions fell 17% this year but the SEC opened more than 150 COVID-related inquiries and investigations.
Fraud

Billionaire Robert Brockman Charged in $2B Tax Fraud Scheme

Officials said the fraud is the largest ever such case brought against an American.
Fraud

Wells Fargo Fires Over 100 Employees for Alleged COVID-19 Relief Fraud

The bank’s internal investigation found up to 125 employees applied for relief intended for small businesses.
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