For First Time, Pharmaceutical Distributor Faces Federal Criminal Charges Over Opioid Crisis

The charges against the wholesaler, Rochester Drug Cooperative, and two of its former executives marked a new tactic for prosecutors in tackling the epidemic of addiction to prescription painkillers. read more »

Global grounding of Boeing 737 Max will cost company more than $1bn

Boeing says it’s abandoned its 2019 financial outlook and halted share buybacks in mid-March as it deals with the crisis

The global grounding of Boeing’s 737 Max jets will cost the company more than $1bn, the company said on Wednesday.

The jets were grounded after two fatal crashes that killed 346 people and have triggered investigations into the accidents across the world and left Boeing with one of the biggest crises in its history. read more »

Mirage Or Vision? Four Blind Spots At The Core Of Theranos' Failure

From Belief To Make Believe

The parable of Elizabeth Holmes and her company, Theranos, is not an unfamiliar one. It involves a dream, a mission, a plan, a vision and quite possibly monumental corruption. It’s unclear whether Theranos’ rise and fall will turn out to be a dazzling mirage of “would-be” business greatness, one of the most infamous stories of corporate fraud in the 21st century, or, an ironic reminder of the inescapable weakness of biased decision-making. What we know for certain is that behind this particular corporate failure lies a cautionary tale of boundless visioning that all investors, entrepreneurs and organizations seeking breakthrough innovations should be interested in further understanding. read more »

Spoofing charges dropped against Chicago software developer for program used in trading fraud scheme

Last year, during a crackdown on spoofing — a form of high-speed computer trading fraud — federal prosecutors charged a Chicago software developer with creating a program that helped a rogue trader net millions in illegal gains.

On Tuesday, after his recent trial ended in a hung jury, all charges were dismissed against Jitesh Thakkar.

Spoofing floods the market with bogus large orders to temporarily trigger price swings. The spoof orders are canceled before they are filled, with the trader placing a real order on the opposite side of the market at a better price. read more »

John McAfee Vows to Unmask Satoshi Nakamoto Within Days

John McAfee, the eccentric antivirus pioneer known for his brushes with the law, said he has spoken with Bitcoin creator Satoshi Nakamoto and plans to reveal the person’s identity shortly.

The background of Nakamoto -- a pseudonym that is thought to refer to a person or group of people -- has been fiercely debated for years, with a long list of discredited theories fueling suspicion Bitcoin’s pioneer is probably dead. In recent days, McAfee has been threatening on Twitter to out Nakamoto, saying that he’s a man living in the U.S. McAfee has said that he will take the step unless Nakamoto comes forward voluntarily.

If Nakamoto is indeed alive, that could throw a wrench into Bitcoin trading. Nakamoto -- possibly along with fellow pioneers of the crypto currency -- is believed to be one of the largest holders of Bitcoins. He may possess nearly 1 million of them, a huge chunk when you consider that entire circulating supply is about 17.6 million coins. The stake would be worth $5.6 billion at current prices. read more »