- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2023-01-13T19:59:00
The former chief financial officer of bankrupt email security business GigaTrust faces up to five years in prison after pleading guilty to defrauding investors and lenders of $50 million by impersonating auditors and fabricating reports, the Department of Justice (DOJ) announced Thursday.
Nihat Cardak, together with GigaTrust founder and former chief executive officer Robert Bernardi and former vice president for business development Sunil Chandra, tricked investors and lenders into pouring millions into GigaTrust from 2016 through at least 2019, when the privately held company was financially floundering, according to their indictment, filed in U.S. District Court for the District of Southern New York in October 2021.
Cardak pleaded guilty to one count of conspiracy to commit securities fraud. His sentencing is scheduled for May 16.
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2023-01-25T21:06:00Z By Adrianne Appel
The former chief executive officer of email security company GigaTrust was sentenced to five years in prison for fabrications that allowed him and two other executives to defraud investors and lenders of millions.
2025-04-30T17:17:00Z By Adrianne Appel and Aly McDevitt
Tom Hardin AKA “Tipper X” went from a young trader with his whole career ahead of him to an inside trader who got caught, acted as a Federal Bureau of Investigation informant for two years, and pleaded guilty to a felony.
2025-04-29T21:47:00Z By Aaron Nicodemus
Like never before in modern American history, ethics and compliance are under attack.
2025-04-22T12:00:00Z
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
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