Miami-Based VirtuOx, Inc. Agrees to Pay $3.15 Million to Resolve Allegations that it Fraudulently Billed Medicare

DOJ

VirtuOx, Inc. (“VirtuOx”), based in Coral Springs, Florida and operating Medicare approved Independent Diagnostic Testing Facilities (“IDTF”), has agreed to pay $3,150,000.00 to resolve allegations that it submitted or caused to be submitted false claims to Medicare for reimbursement. read more »

SEC Charges Wells Fargo Advisors With Anti-Money Laundering Related Violations

SEC

The Securities and Exchange Commission today announced charges against Wells Fargo Advisors for failing to file at least 34 Suspicious Activity Reports (SARs) in a timely manner between April 2017 and October 2021. Wells Fargo Advisors, the St. Louis-based broker-dealer, has agreed to pay $7 million to settle the charges. read more »

CFTC Charges Oregon and Illinois Residents and Florida Company in $44 Million Misappropriation in Ongoing Digital Asset and Commodity Futures Fraud

CFTC

The Commodity Futures Trading Commission announced today that it has filed a civil enforcement action in the U.S. District Court for the Northern District of Illinois, charging Sam Ikkurty a/k/a Sreenivas I Rao (Ikkurty) of Portland, Oregon, Ravishankar Avadhanam of Aurora, Illinois, and Jafia LLC, a company Ikkurty owns in Florida, with fraudulently soliciting at least $44 million for participation interests in a so-called income fund invested in digital assets and other instruments. The enforcement action also charges the defendants with operating an illegal commodity pool and failing to register as a Commodity Pool Operator. read more »