JPMorgan Chase & Co. Chief Executive Jamie Dimon will be deposed in two civil lawsuits over the bank’s relationship with the late financier Jeffrey Epstein, according to reports Tuesday. In December, the U.S. Virgin Islands’ attorney general sued JPMorgan, alleging the bank had turned a blind eye to Epstein’s sex trafficking of minors while providing…
Alphabet Inc.’s GOOG, -2.83% GOOGL, -2.83% Google asked a federal judge Monday to dismiss the federal government’s antitrust lawsuit that’s seeking to break up its ad tech business. In a filing late Monday, Google said the Justice Department’s case ignores its ad-tech rivals and that the DOJ has failed to prove it is a monopoly….
Do Kwon, the former CEO of Terraform Labs, whose stablecoin TerraUSD crashed last year, has reportedly been charged with fraud by the U.S. after being arrested Thursday morning in Montenegro. The Wall Street Journal and Blomberg News reported late Thursday that Kwon was charged by federal prosecutors in Manhattan with eight counts, including securities fraud,…
Sen. Elizabeth Warren is calling for an independent investigation of the Federal Reserve and “the whole regulatory system” after the worst banking-sector crisis in more than a decade. ““I’m calling for an independent investigation of the Fed and the whole regulatory system here. The Fed doesn’t just get to do its own investigation.”” — Sen. Elizabeth…
Signature Bank of New York was being investigated by the U.S. Justice Department for its work with crypto clients before it was seized by regulators over the weekend, according to a new report. Bloomberg News reported late Tuesday that federal prosecutors were investigating whether the bank was taking the necessary steps to identify potential money…
Uber Technologies Inc., Lyft Inc. and DoorDash Inc. on Monday scored a major victory in their battle to continue treating their drivers as independent contractors as an appeals court let most of an embattled California law stand. A divided California appeals court overruled a judge’s ruling that Proposition 22, the ballot proposition on which Uber…
Drugstore chain Rite Aid Corp. fueled the nation’s opioid crisis for several years by knowingly filling hundreds of thousands of illegal prescriptions for drugs like oxycodone and fentanyl, the U.S. alleged in a complaint announced Monday by the Justice Department. Rite Aid RAD did not immediately respond to a request for comment. Shares fell 1.2%…
Several executives of AirBit Club, a so-calledpurported cryptocurrency mining and trading platform, have pleaded guilty in New York for their roles in an international fraud and money laundering scheme, according to a statement from the Department of Justice on Wednesday. Rather than AirBit offering members access to a club that invested in crypto trading and…
Rio Tinto PLC RIO, -3.29% said it agreed to pay a $15 million civil penalty to resolve an investigation by the U.S. Securities and Exchange Commission into payments made to a former consultant who helped the company acquire rights to massive iron-ore deposits in Guinea. The world’s second-biggest miner by market value said it agreed…
This article is reprinted by permission from NerdWallet. Last year, one of my family’s credit cards was used to rack up hundreds of dollars in bogus charges at Apple.com AAPL, +3.51%. Another card was compromised four times in a row, as thieves repeatedly charged merchandise and Uber UBER, +2.61% rides. We ultimately got our money back,…
Rupert Murdoch said some Fox News hosts and commentators endorsed the false narrative that the 2020 election was stolen, according to testimony in an ongoing defamation lawsuit. Voting-machine company Dominion Voting Systems is suing Fox News for defamation, over false claims made on the network’s air that its technology enabled widespread fraud in the election. The new details emerged in…
The Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws, according to people familiar with the matter, the latest move in the agency’s escalating campaign in crypto enforcement. The SEC’s enforcement staff issued a letter to Paxos known as a Wells notice, which the agency…
Tesla Inc. Chief Executive Elon Musk was found not liable on Friday in a federal trial in San Francisco over his “funding secured” and other tweets in 2018. Musk testified last week he considered the tweets around his idea of taking Tesla TSLA, +0.91% private his way of “doing the right thing” for all Tesla…
Oh, the humanity. The owner of the world’s largest blimp company has been sentenced to 5½ years in prison for stealing nearly $8 million in COVID-19 aid, which, according to prosecutors, he used to buy a private island and a luxury ski resort, among other real-estate investments Patrick Parker Walsh, 42, of Williston, Fla., submitted…
U.S. short seller Hindenburg Research has accused Indian conglomerate Adani Group of “brazen stock manipulation and accounting fraud” in a scathing report that pressured shares of affiliated companies. Adani Group is chaired by billionaire tycoon Gautam Adani, who is currently the world’s third richest man and is worth almost $119 billion, according to Bloomberg. Shares…
Twitter Inc. is being sued by the landlord of its San Francisco headquarters, which accuses Elon Musk’s social-media company of not paying nearly $7 million in rent in December and January. In a lawsuit filed Friday in California Superior Court in San Francisco, SRI Nine Market Square LLC said Twitter breached the terms of its…
Sam Bankman-Fried was released on bond after two anonymous individuals put up a total of $700,000, according to court filings. Bankman-Fried, the disgraced former crypto mogul whose FTX exchange declared bankruptcy in November, has been under house arrest in his parents’ $4 million Palo Alto, Calif., home since last month. He was released from federal custody in…
The Justice Department is investigating conduct at the Abbott Laboratories infant-formula plant in Sturgis, Mich., that led to its shutdown last year and worsened a nationwide formula shortage, people familiar with the matter said. Attorneys with the Justice Department’s consumer-protection branch are conducting the criminal investigation, the people said.
WASHINGTON—The Supreme Court has asked the Biden administration to weigh in on a billion-dollar intellectual property case brought by the California Institute of Technology against Apple Inc. AAPL, +0.88% and Broadcom Inc. AVGO, +0.04% In an order issued on Tuesday, the high court asked the Office of the Solicitor General to submit a brief addressing whether the case is…
“I’m everything you imagine me to be, as long as it’s good and it’s Godly.” That’s how Dennis Jali, a South African self-proclaimed finance guru sold his Christian-themed program of financial success to crowds of mainly African immigrants at churches and banquet halls in and around Baltimore and Washington, D.C. But while Jali claimed he…