Bitcoin Options Bought for $1 Million Will Soon Be Worthless

The biggest-ever bet on Bitcoin options is about to expire worthless. read more »

Drug Maker Actelion Agrees to Pay $360 Million to Resolve False Claims Act Liability for Paying Kickbacks

Pharmaceutical company Actelion Pharmaceuticals US, Inc. (Actelion), based in South San Francisco, California, has agreed to pay $360 million to resolve claims that it illegally used a foundation as a conduit to pay the copays of thousands of Medicare patients taking Actelion’s pulmonary arterial hypertension drugs, in violation of the False Claims Act, the Justice Department announced today. read more »

Huawei Executive Took Part in Sanctions Fraud, Prosecutors Say

The reasons that the United States asked the Canadian authorities to arrest a top executive of the Chinese technology company Huawei last week had been shrouded in mystery.

On Friday, the details of the arrest and what led up to it came out in a Canadian courtroom.

At a bail hearing in Vancouver for Meng Wanzhou, the chief financial officer of Huawei and a daughter of the company’s founder, Canadian prosecutors said she was accused of fraud. The heart of the charges related to how Ms. Meng may have personally participated in a scheme to trick American financial institutions into making transactions that violated United States sanctions against Iran, they said. read more »