On June 14, 2021, the Department of Justice filed a complaint in intervention against Paksn, Inc., a nursing home operator, Prema Thekkek, Paksn’s owner, and seven nursing home companies that Paksan operated and Thekkek owned. The complaint alleged that the defendants paid physicians ostensibly to serve as medical directors of the nursing...
Coinbase is expanding its legal team, hiring Christian Sabello, recent Director at the SEC, who joins Coinbase as head of cryptocurrency exchange’s capital markets work
Coinbase, the first major cryptocurrency broker to go public with an opening day valuation on the Nasdaq, is expanding its legal team, perhaps in anticipation of increased regulation by the US and other nations. It has hired Christian Sabella, who was recently acting director of the U.S. Securities and Exchange Commission’s Division...
Contech Engineering Solutions LLC pleads guilty to bid rigging and fraud scheme and pays $7 million criminal fine
A North Carolina engineering firm was sentenced after pleading guilty to lengthy conspiracies to rig bids and defraud the North Carolina Department of Transportation (NCDOT).
According to court documents, Contech Engineered Solutions LLC (Contech) pleaded guilty to one count of violating the Sherman Act and one count of conspiracy...
Securities & Exchange Commission files major suit against BitConnect promoters for $2 billion digital currency offering without proper registration
The Securities and Exchange Commission filed a lawsuit Friday in federal court in Manhattan alleging that five individuals promoted a global unregistered digital asset securities offering that raised over $2 billion from retail investors.
According to the SEC's complaint, filed in the United States District Court for the Southern...
Military vehicles maker Navistar Defense pays $50 million to settle whistleblower False Claims Act case for false sales histories
Military vehicles manufacturer, Navistar Defense LLC (Navistar), will pay $50 million to resolve a whistleblower case in which it was revealed that it fraudulently induced the U.S. Marine Corps to enter into a contract modification at inflated prices for a suspension system for armored vehicles known as Mine-Resistant Ambush Protected vehicles. During...
New charges filed against president of medical technology firm alleging conspiracy to pay kickbacks and submit over $70M in false claims for COVID tests
A federal grand jury handed down a superseding indictment against the president of California-based medical technology company Arrayit Corporation, Mark Schena, in connection with the submission of over $70 million in false and fraudulent claims for allergy and COVID-19 testing. Additionally, a criminal information was filed against each of Paul Haje, Arrayit’s...
U.S. Customs rules U.S. importer Vivaldi evades duties on Chinese quartz products mislabeled as crushed glass
U.S. Customs and Border Protection preliminarily found that two major U.S. importers Vivaldi Commercial LLC and Vivaldi Interiors evaded duties when they imported quartz surface products of Chinese producer Xiamen Sunrise Stone Company Ltd by describing the merchandize as ECO Glass or slabs of crushed glass and failed to report that it...
SEC awards whistleblower $28 million in Panasonic Avionics Case
The U.S. Securities and Exchange Commission said it awarded more than $28 million to a whistleblower whose tip helped them and the Justice Department launch investigations that led to bribery charges against a U.S. subsidiary of Japanese electronics company APanasonic Corp. and former executives. Lawyers representing the whistleblower said the award was connected to...
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Insider trading lawsuit being prepare against Eastman Kodak and execs
AN insider-trading lawsuit is apparently being prepared against Eastman Kodak and its top execs relating to stock buys and...
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Record number of individuals scammed by cybercriminals over sale of cryptocurrency
Scams of with fraudulent offers of cryptocurrency investments have spiked heavily according to the Federal Trade Commision. Nearly 7,000 people reported losses of more than $80 million from October through...
