- 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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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.
2025-05-20T12:30:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
2025-05-16T14:16:00Z By Aaron Nicodemus
As the Consumer Financial Protection Bureau steps back from its core mission of protecting American consumers, states like New York and Pennsylvania are stepping up to fill the regulatory void.
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