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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.
Matthew Heller
December 17, 2020
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.
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.
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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.
Fraud
SAExploration Accused of Accounting Fraud
The alleged multi-year fraud falsely inflated the company’s revenue and concealed the theft of millions of dollars.
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
Cybersecurity Tycoon Accused of Touting ICOs
The SEC says John McAfee promoted initial coin offerings without disclosing that issuers paid him more than $23 million for his promotions.
Fraud
Three Former Manitex Execs Charged With Fraud
Former CFO Michael Schneider and two colleagues allegedly engaged in schemes that resulted in the crane maker’s revenue and profit being overstated.
Fraud
Ex-Amazon Employee Accused of Insider Trading
The manager in Amazon's tax department allegedly made illegal trades with two family members ahead of the company's earnings announcements.
Fraud
Biotech Exec Charged With COVID Test Fraud
The SEC says Arrayit President Mark Schena falsely claimed the company had developed a test and it was awaiting emergency FDA approval.
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