Investigation Archives - Page 2 of 2

JPMorgan claims entrepreneur Charlie Javice duped bank into buying $175M startup

Jack J. Kelly Due Diligence, Fraud, Investigation, Lawsuit, Scandal January 12, 2023

JPMorgan Chase claims it was duped by a 30-year-old entrepreneur who lied about the number of college kids who were using Frank — a financial-planning site that the mega-bank bought for $175 million. JPMorgan Chase alleges that Charlie Javice, who was featured on the Forbes ...Read More

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FTX’s Sam Bankman-Fried pleads not guilty to criminal fraud charges

Jack J. Kelly Cryptocurrency, Investigation, SEC, Securities and Exchange Commission, Wire Fraud January 3, 2023

FTX founder Sam Bankman-Fried pleaded not guilty to criminal charges Tuesday and is set to face a trial in October, which is expected to be one most high-profile white collar fraud trials in recent years. Bankman-Fried appeared in US District Court in New York ...Read More

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US Prosecutors Look to Charge Binance, Executives on Possible Money Laundering Violations

Jack J. Kelly Cryptocurrency, Investigation, Money Laundering December 12, 2022

U.S prosecutors are considering criminal charges against crypto exchange Binance and individual executives, including founder and CEO Changpeng Zhao, Reuters reported, citing two people. The Department of Justice has also discussed possible plea deals with Binance’s lawyers, the report added. Prosecutors in the U.S. Attorney’s Office ...Read More

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Congressman Calls for Investigation Into Gensler, SEC’s Role in FTX Collapse

Jack J. Kelly Cryptocurrency, Investigation, SEC, Securities and Exchange Commission December 9, 2022

A Democratic congressman is calling for an independent investigation into the Security and Exchange Commission’s failure to prevent the historic collapse of crypto exchange FTX. In a strongly worded letter sent Tuesday, Representative Ritchie Torres (D-NY) called upon the Government Accountability Office (GAO) to ...Read More

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Prosecutors, SEC Squeeze FTX Associates For Information

Jack J. Kelly Cryptocurrency, Investigation, Investors, SEC, Trading December 5, 2022

While FTX founder Sam Bankman-Fried continues to make lawyers cringe every time he opens his mouth, US authorities are seeking information from investors and trading firms that worked closely with the company. According to Bloomberg, the US Attorney’s Office for the Southern District of New York (SDNY) ...Read More

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U.S. authorities probe FTX collapse, executives’ involvement

Jack J. Kelly Bankruptcy, CFTC, Commodity Futures Trading Commission, Cryptocurrency, Department of Justice, Investigation, SEC, Securities and Exchange Commission November 14, 2022

U.S. prosecutors in New York are probing FTX’s collapse, a source with knowledge of the investigations said, after the crypto exchange filed for bankruptcy protection last week following a rush of customer withdrawals. The Justice Department, Securities and Exchange Commission and Commodity Futures Trading Commission are ...Read More

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FTX, Sam Bankman-Fried Under Investigation by Regulators

Jack J. Kelly Investigation, Regulation, Securities October 18, 2022

Cryptocurrency exchange FTX, its FTX US division, and founder and CEO Sam Bankman-Fried are being investigated by Texas regulators over potential securities violations, according to a state filing. Regulators are probing whether yield-bearing accounts offered by FTX US should be considered unregistered securities, as described ...Read More

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Wall Street to Pay $1.8 Billion in Fines Over Traders’ Use of Banned Messaging Apps

Jack J. Kelly Banks, CFTC, Investigation, SEC, Securities and Exchange Commission, Trader, Trading September 28, 2022

Eleven of the world’s largest banks and brokerages will collectively pay $1.8 billion in fines to resolve regulatory investigations over their employees’ use of messaging applications that broke record-keeping rules, regulators said Tuesday. The firms include brokerage units of Bank of America Corp., Barclays PLC, Citigroup, Credit ...Read More

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