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The Securities and Exchange Commission today announced that AT&T agreed to pay a $6.25 million penalty and three company executives agreed to pay $25,000 apiece stemming from charges brought in March 2021 related to the company’s selective disclosure…
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AT&T Settles SEC Charge of Selectively Disclosing Material Information to Wall St. Analysts
The Securities and Exchange Commission today announced that AT&T agreed to pay a $6.25 million penalty and three company executives agreed to pay $25,000 apiece stemming from charges brought in March 2021 related to the company’s selective disclosure…
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Interesting article from Forbes – SBF borrowed half a billion dollars from his hedge fund to finance a purchase of Robinhood stock.
When Sam Bankman-Fried bought a nearly 7.6% stake in Robinhood, the popular stock-trading app, earlier this year, he financed the deal with more than half a billion dollars borrowed from his own hedge fund — the entity that prosecutors say was illegally funneling customer funds from its affiliated platform, FTX.
In an affidavit that emerged Tuesday, Bankman-Fried said he and FTX co-founder Gary Wang borrowed more than $546 million from the hedge fund, Alameda Research, which they used to purchase the Robinhood shares via a holding company primarily controlled by Bankman-Fried.
Wang has since pleaded guilty to four counts of fraud and conspiracy, in cooperation with US prosecutors investigating FTX’s collapse. Bankman-Fried has been indicted on eight criminal counts.
https://www.cnn.com/2022/12/28/business/robinhood-sam-bankman-fried-alameda/index.html
SBF Borrowed a Half Billion Dollars from his Fund
Interesting article from Forbes – SBF borrowed half a billion dollars from his hedge fund to finance a purchase of Robinhood stock.
When Sam Bankman-Fried bought a nearly 7.6% stake in Robinhood, the popular stock-trading app, earlier this year, he financed the deal with more than half a billion dollars borrowed from his own hedge fund — the entity that prosecutors say was illegally funneling customer funds from its affiliated platform, FTX.
In an affidavit that emerged Tuesday, Bankman-Fried said he and FTX co-founder Gary Wang borrowed more than $546 million from the hedge fund, Alameda Research, which they used to purchase the Robinhood shares via a holding company primarily controlled by Bankman-Fried.
Wang has since pleaded guilty to four counts of fraud and conspiracy, in cooperation with US prosecutors investigating FTX’s collapse. Bankman-Fried has been indicted on eight criminal counts. https://www.cnn.com/2022/12/28/business/robinhood-sam-bankman-fried-alameda/index.html
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https://seclaw.blogspot.com/2022/12/sbf-borrowed-half-billion-dollars-from.html
The Securities and Exchange Commission today announced an award of more than $20 million to a whistleblower who provided information and assistance that significantly contributed to a successful enforcement action. The whistleblower provided new…
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
Antonia Apps Named Director of New York Regional Office
The Securities and Exchange Commission today announced that former federal prosecutor Antonia M. Apps will become Regional Director of the New York Regional Office next month. Thomas Smith and Maurya Keating, who have served as Acting Co-Directors,…
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The Securities and Exchange Commission today announced that former federal prosecutor Antonia M. Apps will become Regional Director of the New York Regional Office next month. Thomas Smith and Maurya Keating, who have served as Acting Co-Directors,…
Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
SEC Awards More Than $20 Million to Whistleblower
The Securities and Exchange Commission today announced an award of more than $20 million to a whistleblower who provided information and assistance that significantly contributed to a successful enforcement action. The whistleblower provided new…
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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
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The Securities and Exchange Commission today announced fraud charges against Danske Bank, a multinational financial services corporation headquartered in Denmark, for misleading investors about its anti-money laundering (AML) compliance program in its…
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SEC Charges Danske Bank with Fraud for Misleading Investors about Its Anti-Money Laundering Compliance Failures in Estonia
The Securities and Exchange Commission today announced fraud charges against Danske Bank, a multinational financial services corporation headquartered in Denmark, for misleading investors about its anti-money laundering (AML) compliance program in its…
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Have a securities law question? Call New York Securities Lawyers at 212-509-6544.
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