The co-founders of a California financial tech and sustainability services company defrauded investors and lenders of $248 million, according to the Department of Justice.
Adrianne Appel
Adrianne Appel writes regulatory news, policy, and trends for Compliance Week. She previously reported about policy developments for Bloomberg Law and Bloomberg Government.
Email: adrianne.appel@complianceweek.com
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Posted inData Privacy
California privacy regulator set to launch new cyber, risk assessment and automated decision rules
Businesses operating in California will need to meet new, first-in-the-nation privacy requirements for cybersecurity, risk assessments, and automated decision-making technology, under a large expansion of rules by the state.
Posted inRegulatory Enforcement
CVS ordered to pay nearly $290M for excessive billing against Medicare
CVS’s Caremark division knowingly overcharged Medicare for prescription drugs and must pay nearly $290 million, a Pennsylvania federal judge has ordered.
Posted inRegulatory Enforcement
DOJ indicts two more in connection with long-running PEMEX bribery scandal
The Department of Justice says two Mexican businessmen living in Texas allegedly bribed Mexican officials to secure $2.5 million in contracts with Petróleos Mexicanos, Mexico’s state-owned oil company, and a subsidiary.
Posted inRegulatory Enforcement
Match.com agrees to pay $14 million in FTC settlement over subscription practices
Match.com, the online dating site, will pay $14 million and make changes to its membership terms to settle allegations that it made cancellations difficult and made misrepresentations to members, the Federal Trade Commission said Tuesday.
Posted inRegulatory Enforcement
Ransomware gang BlackSuit hit with major takedown after targeting 450 U.S. victims
The BlackSuit ransomware organization has taken a major hit under a U.S.-led, global law enforcement operation that seized the criminal group’s servers and assets, the Department of Justice said Monday.
Posted inRegulatory Enforcement
Nation’s largest apartment manager agrees to end use of RealPage algorithm
Greystar Management, the largest apartment manager in the U.S., has agreed to halt its use of a certain algorithm program to set prices under a Department of Justice proposed settlement aimed at ending the company’s alleged rental price fixing.
Posted inRegulatory Enforcement
FTC secures $145 Million in settlements over misleading health insurance sales and data practices
Two major health insurance brokers will pay a combined $145 million to resolve Federal Trade Commission allegations that they misled millions of consumers and mishandled personal data, the agency announced Thursday.
Posted inRegulatory Enforcement
Guilty pleas for cryptocurrency service used as a money highway by criminals
The owners of cryptocurrency mixing service Samourai Wallet pleaded guilty to transmitting more than $200 million in criminal transactions, according to the Department of Justice.
Posted inRegulatory Policy
FinCEN delays anti-money laundering rules for realtors and investment advisors until 2028
The Treasury Department’s Financial Crimes Enforcement Network is delaying an upcoming requirement that investment advisors and realtors begin screening clients for money laundering and other illegal activity.
