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Department of Justice (DOJ) Wire Fraud Financial Services Industry

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – April 2025 # 4

Troutman Pepper Locke on

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Orrick, Herrington & Sutcliffe LLP

DOJ announces crackdown on fraud networks targeting consumer accounts

On December 15, in conjunction with the DOJ’s Consumer Protection Branch efforts to crack down on fraud, the DOJ unsealed two cases against groups that allegedly stole money from consumer accounts with financial institutions....more

The Volkov Law Group

U.S. Department of Justice Unseals Indictment against Celsius Network’s Alexander Mashinsky

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On July 13, 2023, U.S. prosecutors unsealed an indictment against Alexander Mashinsky, the founder and former CEO of beleaguered Celsius Network LLC (“Celsius”) charging him with securities fraud, commodities fraud, and wire...more

Polsinelli

Concerning Questions Raised by SEC Action Against Former Coinbase Employee

Polsinelli on

On July 21, 2022, the Department of Justice (DOJ) and the US Securities and Exchange Commission (SEC) each alleged insider trading violations against a former Coinbase employee, his brother, and another alleged acquaintance...more

The Volkov Law Group

DOJ Loses Another Libor-Rigging Case on Appeal

The Volkov Law Group on

The Justice Department trumpeted its criminal prosecutions against defendants charged with Libor-rigging.  It had a right to toot its own horn.  But many of these convictions have not withstood the scrutiny of appellate...more

Vinson & Elkins LLP

New Year, New DOJ: Recent Resolution of Fraud Allegations Signals DOJ’s Increased Use of Corporate Monitorships

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On December 21, 2021, the U.S. Department of Justice (“DOJ”) announced a resolution of its criminal investigations into NatWest Markets Plc (“NatWest”), a global banking and financial services firm based in the United...more

BakerHostetler

New Crypto Services Address Custody, Payment Cards and ATS’s, OCC Says Banks Can Custody Crypto, DOJ Charges Bitcoin ATM Operator...

BakerHostetler on

Reports Detail New Plans for Crypto Custody Services, Payment Cards and ATS Platforms - According to recent reports, a major multinational financial services firm is taking steps toward launching a cryptocurrency custody...more

Society of Corporate Compliance and Ethics...

US targets Iranian financial services firm

Report on Supply Chain Compliance 3, no. 11 (May 28, 2020) - The U.S. Department of Justice indicted an Iranian national, Seyed Sajjad Shahidian, for helping Iranian businesses buy goods from the U.S. through his firm,...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Three weeks after his initial arrest, Japanese prosecutors have officially indicted former Nissan Chair Carlos Ghosn for understating his income by $43 million....more

Ballard Spahr LLP

Federal jury convicts operator of payday lenders sued by CFPB and FTC

Ballard Spahr LLP on

Richard Moseley Sr., the operator of a group of interrelated payday lenders, was convicted by a federal jury on all criminal counts in an indictment filed by the Department of Justice, including violating the Racketeer...more

The Volkov Law Group

A Money Laundering Nightmare: Western Union Ponies Up $770 Million to Settle with DOJ, FTC and FinCEN

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Earlier this year, in January 2017, Western Union entered into a Deferred Prosecution Agreement with the Justice Department and the FTC, and agreed to pay $586 in forfeiture to settle anti-money laundering and consumer fraud...more

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