Fraud

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.
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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