A California man was sentenced Tuesday to more than six years in prison for fraudulently obtaining about $39 million in business loans from seven banks, which were tricked into believing the loans were for construction equipment, the DOJ said.
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 inRegulatory Enforcement
FTC warns companies about ‘Made in USA’ labels
Seven companies received warnings Monday from the FTC for falsely claiming their products were made in the United States.
Posted inData Privacy
Amazon fined $2.25M for failing to respond to identity theft victim requests
Amazon has agreed to pay $2.25 million for failing to provide records to customers who were victims of identity theft, as required by the Fair Credit Reporting Act (FCRA), the Federal Trade Commission (FTC) said. The fine, described in a proposed order, is the largest ever levied for an FCRA violation, the FTC said in a […]
Posted inRegulatory Enforcement
Hedge fund founder faces five years in prison for extensive market spoofing scheme
A California day trader and founder of a hedge fund faces up to five years in prison after pleading guilty to manipulating stock prices through buy and sell “spoofing” schemes.
Posted inPharmaceuticals
Former biopharm director heads to prison for insider trading ahead of Novartis purchase
A former director of biopharmaceutical company, Chinook Therapeutics, has been sentenced to prison for insider trading related to the company’s $3.2 billion sale to Novartis in 2023, a fraud detected through data analysis by the SEC.
Posted inRegulatory Enforcement
U.S. agencies take aim against Cambodian money laundering conglomerate
United States enforcement agencies have landed more blows against a sprawling, Cambodian-based money laundering, financial conglomerate, believed to operate hand-in-glove with cybercriminals who scam U.S. individuals out of their life savings.
Posted inAML
Bosnia and Herzegovina, and Iraq, added to international watchdog’s list for AML failings
Iraq and Bosnia and Herzegovina need to improve their anti-money laundering/countering the financing of terrorism programs and have been added to the FATF’s grey list.
Posted inTop Stories
Bosch receives first declination under DOJ’s new policy for self-reporting misconduct
The Department of Justice (DOJ) won’t prosecute German-based Robert Bosch GmbH (Bosch) for export violations under the Criminal Division’s Corporate Enforcement and Voluntary Self-Disclosure Policy (CEP). It is the first corporate declination under the CEP, which credits self-disclosure and self-remediation. The CEP, issued in March, credits corporations that self-disclose misconduct, cooperate with the DOJ investigation […]
Posted inSurveys & Benchmarking
ITM survey: Some organizations pull DEI programs—and some keep them—under feds’ DEI reversal, compliance officers report
Nearly four in 10 compliance teams have made it a priority to review risks related to their traditional DEI efforts and other programs in the face of the Trump administration’s unprecedented broadsides against the programs.
Posted inTop Stories
Bank imposter fraud jumped in 2025, FTC finds
Bank impersonators scammed the public out of nearly $1 billion in 2025, a sharp increase over 2024 levels, the FTC said.
