SEC Issues Whistleblower Awards Totaling Over $1.7 Million

SEC

The Securities and Exchange Commission today announced awards totaling more than $1.7 million to two whistleblowers in separate proceedings.  Both whistleblowers provided Forms TCR to the Commission within 30 days of their first learning of the Form TCR filing requirement as set forth in new Securities and Exchange Act Rule 21F-9(e). read more »

GameStop shares rise in early trade before being halted

REUTERS

GameStop Corp shares shot higher in early trading on Thursday before a series of NYSE trading halts, a day after an unexpected surge doubled the price of the video game retailer’s stock. The stock hit $160 at the open before being halted after several minutes of trading. Shares were changing hands at around $129 before the second halt. read more »

Final Defendant Sentenced in $7 Billion Investment Fraud Scheme

DOJ

The former chief of Antigua’s Financial Services Regulatory Commission (FSRC) was sentenced today to 10 years in prison for his role in connection with a $7 billion Ponzi scheme involving the Stanford International Bank (SIB). read more »

Father and son from Inland Empire must pay $26.7 million for drug rehab fraud

THE PRESS ENTERPRISE

A father-son team must pay $26.7 million in restitution, and do time in federal prison, for fraudulently signing up addicts for health insurance and getting kickbacks from treatment centers in California. read more »

Has McKinsey Lost Its Luster?

NEW YORK TIMES

Partners at McKinsey yesterday voted out their leader, Kevin Sneader, as the company deals with blowback over its role in the U.S. opioid crisis. It was the latest tough headline for the consulting firm, which may face growing threats to its status as a trusted adviser to companies and governments — and as a magnet for top talent. read more »