Tesla and Elon Musk Are Given Week to Reach Accord With S.E.C.

Elon Musk has another week to work out his latest dispute with the Securities and Exchange Commissio

A federal judge on Thursday granted a request by the two sides for more time to resolve a fight over whether Mr. Musk, Tesla’s chief executive, had violated an earlier settlement with the commission governing his public statements about the company’s finances. read more »

Facebook security lapse affects millions more Instagram users than first stated

News that the company had insecurely stored passwords came on the same day as the release of Robert Mueller’s long-awaited report

Facebook chose one of the busiest news days in American politics this year to admit that millions more Instagram users were affected by a security lapse than it had previously disclosed. read more »

Japanese Investment Company Executives Extradited on Charges Relating to $1.5 Billion Ponzi Scheme

Japanese authorities have extradited to the United States two former executives of a Las Vegas, Nevada, investment company in connection with their alleged roles in a $1.5 billion Ponzi scheme.

The defendants allegedly solicited investments by, among other things, promising investors that their investments would be used only for the purchase of medical accounts receivable (MARS) and by representing that investors funds would be managed and safeguarded by an independent third-party escrow company.

The indictment further alleges that MRI operated as a Ponzi scheme, in which the defendants used new investors’ money to pay prior investors’ maturing investments.  According to the indictment, the defendants also allegedly used investors’ funds for purposes other than the purchase of MARS, including paying themselves sales commissions, subsidizing gambling habits, funding personal travel by private jet and other personal expenses. read more »