A former hedge fund manager was charged by Manhattan federal prosecutors with defrauding several Harvard Business School classmates and others in his social circle of more than $4 million https://t.co/9NZuKDrMxq ...

You do get a snap back in jobless claims after the big rise last week, we fall back to 231,000. That's below the estimate. Last week was revised up by a thousand, so it was to 64.But remember, this was all in theory because of fraud in Texas. Texas officials say there were a whole lot of illegal filings the week before, and that looks like it is the case. The ongoing claims number is 1,920,000.That falls from 1,000,009 27. So the jobless claims numbers improved. Take a little bit of that edge off in terms o ...

CEO of ‘Textbook Ponzi’ Pleads Guilty in $200M Bitcoin Fraud Case► https://t.co/8wJUWrGcEW https://t.co/8wJUWrGcEW ...

.@CFTC Obtains $1.2M for Fraud Victims, $2.8M Overall From Florida Commodity Firm, Owner: https://t.co/suF30gEA3V ...

Linqto, a San Jose-based fintech startup that filed for Chapter 11 bankruptcy, has agreed to a deal to repay customers. Linqto pitched retail investors the chance to buy into coveted firms such as Ripple Labs and Elon Musk’s SpaceX ahead of IPOs. But court filings revealed that Linqto structured the investments through special purpose vehicles (SPVs) owned by the company itself, not by individual customers. That meant users never held the shares they thought they had purchased. Related: Linqto, platform ...

Charlie Javice, who was convicted of defrauding JPMorgan into acquiring her student-finance startup, deserves 12 years in prison, US prosecutors told a judge https://t.co/R8lM1RHBSx ...

Industry Analysis - The buyer has essentially destroyed the core of the company, leaving only a shell [1] - Scale was once valued at $28 billion, implying Brett should be worth $56 billion [1] - Venture capital today focuses on increasing human efficiency by 10% through AI co-pilots [2] - The real goal is to reduce workforce by 75% using AI [2] Due Diligence Concerns - Venture rounds are now being completed on Saturdays, indicating a lack of proper due diligence [2] - There is a significant decline in diligence compared to two years ago [2] Ethical Considerations - Increased accountability is needed, specifically more founders committing fraud should face imprisonment [3]

Legal & Compliance Risks - Joseph Kenny was arrested for two counts of practicing healthcare without a license [1] - Kenny presented a fake license during a nursing interview, impersonating his roommate [1] - Kenny's Florida nursing license was revoked in 2022 due to past disciplinary actions [3] - Kenny has a history of nursing licenses in Florida, Alabama, and California being disciplined for diverting drugs and DUI [3] Patient Safety & Healthcare Quality Concerns - Kenny applied for at least a dozen jobs and worked at a nursing home and another facility as a registered nurse for about a week each [4] - The sheriff raised concerns about patient safety, highlighting the risks of unlicensed individuals administering drugs [4] - The incident underscores the importance of thorough vetting processes in healthcare hiring [5] Hiring & Verification Procedures - Investigators set up a fake job interview after receiving a tip [2] - The hiring manager noticed discrepancies in Kenny's appearance and application [2][3] - The hiring manager identified that the driver's license presented was not a valid Florida driver's license [3]

Duped of millions in 'digital arrest', Indian woman seeks answers from banks https://t.co/xsEPqII9KQ ...

Regulatory Action - SEC launches task force to fight cross-border fraud [1]