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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-06-12T22:14:00
The former chief executive officer of an artificial intelligence (AI) recruitment startup that is now closed faces up to 40 years in prison and the potential of penalties levied by the Securities and Exchange Commission (SEC) for allegedly defrauding investors of more than $27 million.
Ilit Raz, an Israeli citizen, was indicted by a grand jury in New York for misleading investors about the success of Joonko, which she founded. Joonko told investors it used AI to recruit job candidates to fulfill diversity, equity, and inclusion hiring goals for its Fortune 500 clients.
Between 2021 and 2022, Raz falsely claimed the company’s customers included one of the world’s largest credit card companies, a sports apparel company, an online travel business, and a major fashion brand. But none of them were customers, the Southern District of New York (SDNY) alleged in a press release Tuesday.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-06-26T13:54:00Z By Adrianne Appel
A Nevada energy and manufacturing company headquartered in Nova Scotia agreed to pay $1 million to settle charges levied by the Securities and Exchange Commission for alleged market manipulation and fraud, while the agency further investigates its former chief executives.
2024-05-07T10:50:00Z By Jaclyn Jaeger
Prudent chief compliance officers should ensure artificial intelligence-related risks are being properly addressed at their businesses considering growing scrutiny being paid to the technology by the Department of Justice.
2024-10-22T21:18:00Z By Adrianne Appel
Precision Toxicology has agreed to pay $27 million to settle allegations first brought by whistleblowers in three cases, that the company billed the federal government for unnecessary drug tests and paid kickbacks to doctors, the Department of Justice (DOJ) said.
2024-10-22T16:08:00Z By Aaron Nicodemus
Fund management company WisdomTree will pay $4 million to settle allegations by the Securities and Exchange Commission that it improperly invested in fossil fuel and tobacco companies in environmental, social and governance (ESG) funds despite promising to avoid them.
2024-10-18T18:10:00Z By Adrianne Appel
A Vietnamese alcohol company has agreed to pay $860,000 to settle allegations by the Office of Foreign Assets Control (OFAC) that its business with North Korea involved U.S. financial institutions.
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