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It is widely recognized that deceiving investors is the bread-and-butter of a Ponzi Scheme . However, the term “investors” often conjures images of Shark Tank or Wall Street – and this is far from the type of investor that...more
In this episode of The Consumer Finance Podcast, Chris Willis is joined by Mary Zinsner and Heryka Knoespel, partners in Troutman Pepper Locke’s Consumer Financial Services Practice Group, to discuss the latest in deposit...more
On March 6, the SEC announced it had filed an emergency action against a Miami-based investment adviser and one of its principals (collectively, “defendants”) in connection with a $100 million crypto asset fraud scheme. ...more
On August 31, 2022, in a lengthy order, Judge Timothy Hillman of the U.S. District Court of Massachusetts denied motions to dismiss that were filed by multiple defendant banks (the “Banks”) in an attempt to avoid liability...more
IN THIS ISSUE - Eleventh Circuit Overturns Dismissal of Cryptocurrency Ponzi Scheme Class Action Suit; Federal Court of Appeals Dismisses Leading Fannie Mae and Freddie Mac Shareholder Lawsuits; NY Seeks Blockchain...more
In March, the Securities and Exchange Commission (SEC)’s Division of Examinations announced its 2021 examination priorities. The SEC has committed to focusing its investigations on, among other issues, “attendant risks...more
John Louis Anthony Bigatton will not be providing financial services in Australia and likely not anywhere else, anytime soon. On Thursday, September 3, 2020, the Australian Securities and Investments Commission (“ASIC”)...more
Deutsche Bank on Wednesday confirmed the basics of a recent German newspaper report that revealed that the bank “had used faulty software to screen customer transactions for suspicious activity” while claiming that “no...more
Three weeks after his initial arrest, Japanese prosecutors have officially indicted former Nissan Chair Carlos Ghosn for understating his income by $43 million....more
Walmart’s broader foray into the grocery biz—letting customers order online and pick up in person and expanding home delivery—is paying dividends for the retailer and helping push its revenue up 3.8% from this period a year...more
Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more