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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2024-06-07T18:18:00
Food service distributor HF Foods Group agreed to pay a $3.9 million penalty as part of a settlement with the Securities and Exchange Commission (SEC) regarding alleged fraudulent conduct carried out by its former chief executive officer and former chief financial officer.
The settlement, announced in an administrative proceeding Thursday, follows charges the SEC levied earlier this week against former HF Foods CEO Zhou Min Ni and former CFO Jian Ming Ni. Zhou Min Ni agreed to pay a $300,000 penalty in settling, while Jian Ming Ni will pay $80,000.
From August 2018 through 2020, the former executives misappropriated approximately $3.4 million from HF Foods through related party transactions and other methods, the SEC alleged in its order. The executives also allegedly schemed to remove $7.4 million of liabilities from a predecessor company’s books as part of the process of HF Foods going public via a special purpose acquisition company.
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2024-06-04T18:40:00Z By Aaron Nicodemus
The chief financial officer of the Epoch Times was charged with laundering at least $67 million in illegally obtained funds to bolster the fortunes of the newspaper and himself.
2024-05-06T15:30:00Z By Aaron Nicodemus
SoFi’s brokerage unit will pay a $1.1 million fine to the Financial Industry Regulatory Authority for fraud detection weaknesses that allowed thieves to create SoFi Money accounts using fake or stolen identities.
2023-12-22T17:00:00Z By Kyle Brasseur
Brooge Energy agreed to pay $5 million in a settlement with the Securities and Exchange Commission resolving fraud charges related to a scheme to inflate revenues.
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RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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