fraud

Nikola Corporation (NASDAQ: NKLA) founder Trevor Milton has quietly purchased shares of the Phoenix-based electric vehicle company ahead of his September fraud trial. What Happened: Milton, who was indicted on fraud charges in July 2021, resigned as CEO amid allegations that he made false...

Original publication: August 5, 2020 Phishing emails could be described as the pestilent occurrence of the modern workforce. As we ditched the typewriter for the computer, and faxes for emails, one unexpected (yet always prevalent) consequence, was spam. According to Verizon’s 2019 Data...

Fabrizio D'Aloia, the founder of Italian digital gambling firm Microgame, has been granted permission to undertake a lawsuit via NFTs against anonymous parties. What Happened: The U.K.’s recent ruling permits wallet addresses to be used in legal proceedings against anonymous parties. The...

Citron Research's Andrew Left believes cryptocurrencies are nothing but a fraud.  What Happened: The renowned short seller talked about crypto Monday at a conference about fraud in financial markets, according to a Reuters report. When asked about areas...

The U.S. commodities watchdog, Commodity Futures Trading Commission (CFTC), has charged South Africa-based Bitcoin (CRYPTO: BTC) operator Mirror Trading International (MTI) and Cornelius Johannes Steynberg for $1.7 billion of fraud and registration violations. According to CFTC, MTI accepted...

According to a U.S. Department of Justice (DOJ) statement, six people have been charged in cryptocurrency-related fraud cases, including Non-Fungible Token (NFT) scams.  DOJ has announced criminal charges against the Baller Ape Club NFT collection's creator for involvement in the "rug...

FBI special agent Sean Ragan has said that cryptocurrency investment scammers on Microsoft Corporation's (NASDAQ: MSFT) social networking platform LinkedIn are a significant threat to the platform and consumers. According to an exclusive interview with CNBC, Ragan, the FBI's...

Terra (CRYPTO: LUNA) founder Do Kwon has now come on Twitter to refute allegations against him about cashing out funds from the company.  On Thursday, TerraForm Labs (TFL) employees said that $80 million of company funds were sent to “secret wallets” every month before the LUNA...

According to a report from London-based firm Elliptic, about $10.5 billion worth of user funds has been stolen in cases of fraud and theft on DeFi products.  DeFi platforms have become increasingly popular in recent years, but the platforms are not regulated. The "total value locked...

According to the City of London Police, more than 146 million pounds ($200 million) has been lost to cryptocurrency fraud since the start of 2021.   The amount of money allegedly lost in 2021 is 30% more than all of 2020.  City of London police stated 7,118 reports of fraud related...

Workhorse Group delivered 14 electric delivery vans to customers in the second quarter but it is going back to the drawing board to figure out how to add more cargo capacity before it resumes ramping up production. In many ways, the Workhorse (NASDAQ: WKHS) earnings report for the April to June...

Indicted Nikola Corp. founder Trevor Milton sold 7 million of his 79 million shares in the electric truck startup last week, pulling in $71.5 million that he may need for his legal fight against federal fraud charges. Separately, Bloomberg reported Milton has hired two lawyers who defended Tesla...

A week ago, Nikola founder Trevor Milton was charged by the U.S. attorney's office in Manhattan with three counts of fraud in connection with the investigation into the electric vehicle startup. Milton says he is not guilty, but Nikola immediately distanced itself from the negative news. We asked...

Nikola Corp. is unlikely to sell any battery-electric trucks this year because of semiconductor shortages for critical components, but it will let select customers and dealers use the trucks to build mileage and get retrofits later. The company said Tuesday it expects to deliver 25-50 nonsaleable...

The former CFO of Roadrunner Transportation Systems was convicted of violating federal securities laws in a complex, $245 million securities and accounting fraud scheme. A federal jury convicted Peter R. Armbruster, 62, of Milwaukee, on four counts, including securities fraud, misleading...