Skype audio graded by workers in China with 'no security measures'

THE GUARDIAN

A Microsoft programme to transcribe and vet audio from Skype and Cortana, its voice assistant, ran for years with “no security measures”, according to a former contractor who says he reviewed thousands of potentially sensitive recordings on his personal laptop from his home in Beijing over the two years he worked for the company. read more »

The fall of the god of cars

BBC

When Carlos Ghosn flew into Tokyo’s Haneda Airport on a November afternoon in 2018, he was at the height of his powers.

He was the chairman of Nissan, the man credited with saving the Japanese carmaker from potential bankruptcy. He was also chief executive of the French carmaker Renault – and the driving force behind a global alliance between the two. Along with the smaller manufacturer Mitsubishi, they made up a motor industry group that sold more than 10 million cars a year. read more »

CFTC Charges US Coin Bullion LLC and its Owners with $7.9 Million Precious Metals Fraud

COMMODITY FUTURES TRADING COMMISSION

The complaint alleges that from at least 2012 through July 2019, the defendants received over $7.9 million from at least 120 customers for the purpose of investing in precious metals. Instead of making these purchases, the defendants misappropriated the entire amount to pay for personal and business expenses, diverted funds invested by new customers to make Ponzi scheme-like payments to earlier customers who requested account withdrawals, and used customer funds to trade leveraged precious metals in US Coin accounts at precious metals dealers. The complaint alleges that, in order to conceal their fraud, the defendants provided customers with account statements falsely representing ownership of specific amounts of precious metals purchased at particular prices. read more »

New York settles with South Carolina firm it accused of predatory lending

REUTERS

New York regulators on Friday reached a $3.76 million settlement with a South Carolina firm that they said engaged in predatory lending by luring vulnerable consumers into buying rundown homes financed with costly loans it provided.

Vision Property Management LLC, of Columbia, South Carolina, did not admit wrongdoing in agreeing to pay $600,000 in restitution, forgive $3.16 million in unpaid principal on 58 homes, and transfer deeds to those homes to its borrowers.

The settlement announced by New York Attorney General Letitia James and Financial Services Superintendent Linda Lacewell followed a $2.77 million settlement last August by Atalaya Capital Management LP, a New York hedge fund that the regulators said provided Vision with funding and assistance. read more »