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Space Force delays deal to ‘further evaluate’ contractor found to have acted fraudulently WASHINGTON POST

Gary Gensler, Biden's pick to head SEC, has reputation as tough regulator NBC In nominating Gary Gensler to serve as chairman for the Securities and Exchange Commission, President-elect Joe Biden is likely to please progressives, who have been agitating for more bank oversight after four years of deregulatory policy under President Donald Trump’s SEC pick, Jay Clayton, who stepped down in December.

Justice Department Recovers Over $2.2 Billion from False Claims Act Cases in Fiscal Year 2020 DOJ

Boeing to pay $25M to settle fraud case at drone unit Insitu that sparked whistleblower complaint SEATTLE TIMES Boeing’s drone subsidiary, Insitu, will pay $25 million to settle a federal lawsuit accusing it of fraudulently overcharging the government on no-bid military contracts by billing for new parts but using recycled ones.

Biden to name Gary Gensler as U.S. SEC chair REUTERS Gary Gensler will be named chair of the U.S. Securities and Exchange Commission (SEC) by President-elect Joe Biden, said two sources familiar with the matter, an appointment likely to prompt concern among Wall Street firms of tougher regulation.

SEC Charges Real Estate Fund Manager With Misappropriating Over $7 Million From Retail Investors SEC The Securities and Exchange Commission today charged fund manager Eric C. Malley and his company MG Capital Management L.P. with defrauding retail investors in two real estate funds managed by MG Capital.

New law cracks down on shell companies to combat corruption ABC A watershed reform of U.S. money laundering laws could allow investigators to uncover the proceeds of foreign bribery, drug trafficking and terrorism in just a few keystrokes The new legislation quietly passed by Congress last month after a decade-long fight is the most sweeping banking reform of its kind since passage of the Patriot Act, in the aftermath of the Sept. 11, 2001, terrorist attacks.

Boeing agrees to pay $2.5B+ to settle criminal fraud charges over 737 MAX SEATTLE TIMES Boeing has agreed with the U.S. government to pay more than $2.5 billion to defer prosecution and resolve a charge of “criminal misconduct” in its certification of the 737 MAX, the Department of Justice announced Thursday.

SEC Issues Over $1.1 Million to Multiple Whistleblowers SEC The Securities and Exchange Commission today announced awards totaling more than $1.1 million to five whistleblowers who provided high-quality information that led to successful enforcement actions.

California Challenges OCC Rule That Facilitates Predatory Lending Schemes CA AG

Millions of Dollars in False Claims Submitted to HUD’s FHA Mortgage Insurance Program DOJ The United States has filed a civil complaint in federal court in Brooklyn seeking damages and penalties against three individuals and multiple companies alleged to have engaged in a wide-ranging mortgage fraud scheme to defraud the government.

Child labor in palm oil industry tied to Girl Scout cookies AP NEWS Olivia, who earned a badge for selling more than 600 boxes of cookies, had spotted palm oil as an ingredient on the back of one of her packages but was relieved to see a green tree logo next to the words “certified sustainable.” She assumed that meant her Thin Mints and Tagalongs weren’t harming rainforests, orangutans or those harvesting the orange-red palm fruit.

Department of Justice sues Walmart over opioid crisis CBS The Justice Department is suing Walmart, alleging the country's largest retailer unlawfully dispensed controlled substances through its pharmacies and helped fuel the nation's opioid crisis.

Texas Heart Hospital and Wholly-Owned Subsidiary THHBP Management Company LLC to Pay $48 Million to Settle False Claims Act Allegations Related to Alleged Kickbacks DOJ

Luckin Coffee Agrees to Pay $180 Million Penalty to Settle Accounting Fraud Charges SEC

Massachusetts regulators expected to file complaint against Robinhood REUTERS Securities regulators in Massachusetts were expected to file a complaint on Wednesday against Robinhood Financial LLC, according to a document reviewed by the Wall Street Journal, the newspaper said on Wednesday.

Congress passes defense bill with big ramifications for AML, whistleblowers COMPLIANCE WEEK Tucked into the $740 billion defense spending bill Congress approved Friday are several anti-money laundering (AML) provisions that could dramatically improve law enforcement’s ability to identify and prosecute criminals laundering money through the U.S. banking system.

SEC Awards More Than $300,000 to Whistleblower with Audit Responsibilities SEC

Justice Department Announces Additional Distribution of more than $488 Million to Victims of Madoff Ponzi Scheme DOJ

U.S., states file sweeping antitrust lawsuits against Facebook, setting stage for potential breakup WASHINGTON POST