SEC, Tesla support approval of settlement
The U.S. Securities and Exchange Commission, Tesla Inc and Chief Executive Officer Elon Musk submitted a joint filing late on Wednesday in support of a settlement, saying the terms were in the best interest of investors.
Musk agreed to pay a $20 million fine, and step aside as Tesla’s chairman for three years, to settle charges that could have forced his exit from Tesla. The company also accepted a $20 million fine, despite not being charged with fraud. read more »
‘The Mother of All Scams’: Roubini Slams Crypto in Senate Hearing
Cryptocurrency critic Nouriel Roubini, the economist who’s famous for foreseeing the 2008 financial crisis, is back in the headlines again, and this time it’s because he’s dissing digital money in front of the U.S. Senate.
In a scathing prepared testimony for a hearing on crypto and blockchain Thursday, Roubini read Bitcoin believers the riot act, calling virtual currencies “the mother of all scams and (now busted) bubbles.” He also fired shots at the technology behind digital tokens, which many believe is what holds the real promise. read more »
SEC Stops Fraudulent ICO That Falsely Claimed SEC Approval
The Securities and Exchange Commission today announced that it has obtained an emergency court order halting a planned initial coin offering (ICO), which backers falsely claimed was approved by the SEC. The order also halts ongoing pre-ICO sales by the company, Blockvest LLC and its founder, Reginald Buddy Ringgold, III.
An SEC complaint unsealed yesterday alleges that Blockvest falsely claimed its ICO and its affiliates received regulatory approval from various agencies, including the SEC. According to the SEC's complaint, Blockvest and Ringgold, who also goes by the name Rasool Abdul Rahim El, were using the SEC seal without permission, a violation of federal law, and falsely claiming their crypto fund was "licensed and regulated." The complaint also alleges Ringgold promoted the ICO with a fake agency he created called the "Blockchain Exchange Commission," using a graphic similar to the SEC's seal and the same address as SEC headquarters. read more »
Peru Opposition Leader Keiko Fujimori Is Arrested in Corruption Inquiry
Ms. Fujimori has been the subject of a number of corruption investigations in recent years, including inquiries into her campaign financing, accusations of money laundering and questions regarding her ties to the Brazilian construction company Odebrecht, which has admitted paying hundreds of millions of dollars in bribes for construction projects in Latin America. read more »