FTC targets online computer repair tool scams Restoro and Reimage
According to the Internet Crime Complaint Center, online scams defrauded Americans out of $12.5 billion in 2023, with Americans over 60 bearing the brunt with $3.4 billion in losses.
“Sam is not the ‘evil genius’ depicted in the media or the greedy villain described at trial,” Bankman-Fried attorney Marc Mukasey said.
According to the Internet Crime Complaint Center, online scams defrauded Americans out of $12.5 billion in 2023, with Americans over 60 bearing the brunt with $3.4 billion in losses.
At stake was not just bragging rights to the creation of bitcoin, the world’s most popular virtual currency, but control of the intellectual property rights.
MANHATTAN — The Second Circuit ruled that cryptocurrency exchanges on the website Binance are domestic transactions, reversing a New York federal court’s decision to dismiss the crypto purchasers’ lawsuit under the Securities and Exchange Act for being an impermissible, extraterritorial application of the law. The parties were “bound to the transactions in the United States.”
BOISE, Idaho — A federal court in Idaho granted the Securities and Exchange Commission’s motion for penalties against a crypto investment broker who lured investors into paying millions into his company through false representations, then misappropriated the funds for his personal use. He’ll disgorge over $5.2 million in ill-gotten gains, over $125,000 in interest, and will pay almost $7 million in civil penalties.
Bitcoin has a history of drastic swings in price — which can come suddenly in trading that continues at all hours, every day.
WASHINGTON — A federal court in Washington, D.C., sided with a proxy adviser firm in its challenge to a Securities and Exchange Commission final rule that would have placed such firms, which help shareholders determine how to vote at shareholder meetings, under SEC regulation.
LAS VEGAS — A federal court in Nevada granted the Securities and Exchange Commission’s motion for partial summary judgment in its suit against author and wealth coach Loral Langemeier, who sold oil and gas securities as an unregistered broker. She acted as an investment adviser and failed to disclose conflicts of interest, such as her entitlement to compensation for the sales, and this was a violation of her and her associates’ fiduciary duties.
Paxton's defense team expressed confidence Friday that the attorney general will be acquitted of charges that have dogged him since 2015.
Chenguang Gong is accused of seeking to give China's government trade secrets from U.S. companies, and of stealing confidential material on detecting and tracking missiles.
BROOKLYN — A federal court in New York granted final judgment to the Securities and Exchange Commission and ordered iFresh, a chain of Asian shopping markets on the East Coast, to disgorge over $1 million in ill-gotten gains and to pay more than $650,000 in penalties and interest after settling claims for securities violations. The chain did not tell investors about its payments of over $12 million to third parties controlled by the company’s owner and his brother.