SEC: Takeover Bid of Fortune 500 Company was a Sham

SEC

The Securities and Exchange Commission today charged Melville ten Cate, a U.S. citizen residing abroad, with fraud stemming from his allegedly phony offer to purchase Textron – a large U.S.-listed aircraft, defense, and industrial company. read more »

TracFone Wireless to Pay $13.4 Million to Settle False Claims Relating to FCC’s Lifeline Program

DOJ

TracFone Wireless Inc. (TracFone) has agreed to pay $13.4 million as part of a civil settlement to resolve allegations that TracFone violated the False Claims Act by signing up more than 175,000 ineligible customers in connection with the Federal Communications Commission’s (FCC) Lifeline Program (Lifeline). read more »

U.S. SEC chair previews path forward on crypto trading scrutiny, investor protection

REUTERS

Gary Gensler, the head of the U.S. securities regulator, said on Monday the agency is weighing how it could extend investor protections afforded to users of exchanges and alternative trading platforms to crypto trading platforms. read more »

Justice Department Files False Claims Act Complaint Against Two Laboratory CEOs, One Hospital CEO and Others Across Texas, New York, and Pennsylvania

DOJ

The Justice Department has filed a complaint against two laboratory CEOs, one hospital CEO and other individuals and entities, alleging False Claims Act violations based on patient referrals in violation of the Anti-Kickback Statute and the Stark Law, as well as claims otherwise improperly billed to federal healthcare programs for laboratory testing. read more »