United States Oil Fund gets Wells notice from SEC

REUTERS

 The United States Oil Fund LP, the country’s largest crude exchange-traded fund, said on Wednesday it received a Wells notice from the U.S. Securities and Exchange Commission.

The Wells notice states that SEC staff have made a preliminary determination to recommend that the U.S. securities regulator file an enforcement action against USO, United States Commodity Fund LLC and its chief executive officer John Love. read more »

United States Files False Claims Act Complaint Against Drug Maker Teva Pharmaceuticals Alleging Illegal Kickbacks

DOJ

The United States has filed a False Claims Act complaint against Teva Pharmaceuticals USA Inc. and Teva Neuroscience Inc. (Teva), alleging that they illegally paid the Medicare co-pays for their multiple sclerosis (MS) product, Copaxone, through purportedly independent foundations that the companies used as conduits in violation of the Anti-Kickback Statute, the Department of Justice announced today. read more »

U.S. prosecutors unseal charges against five people accused of running crypto mining Ponzi scheme

YAHOO

U.S. prosecutors have indicted a group of individuals in connection with conducting a Ponzi scheme centered around cryptocurrency mining fraud.

Yet the cryptocurrency mining and trading operation didn't actually exist, prosecutors alleged in an unsealed indictment, and instead, the individuals were said to have enriched themselves with the proceeds. The group was accused of laundering some $20 million a part of the scheme.

"As alleged, the defendants put a modern-day spin on an age-old investment scam, promising extraordinary rates of guaranteed return on phantom investments in cryptocurrencies. Thanks to HSI, the defendants are in custody and facing serious criminal charges," Acting United States Attorney Audrey Strauss said in a statement. read more »