SEC Accuses Greg Lindberg and His RIA of $75 Million Fraud Scheme

Earlier this summer season, insurance coverage government Greg Lindberg left jail after efficiently interesting bribery and fraud convictions. Now he finds himself in authorized hassle once more. 

The SEC Tuesday sued Lindberg, affiliate Christopher Herwig, and their Malta-based registered funding advisory agency, Normal Advisory Providers Restricted, accusing them of defrauding purchasers out of greater than $75 million by undisclosed transactions that benefited themselves and their firms.

The U.S. Securities and Change Fee seal

Andrew Harrer/Bloomberg

The regulator filed civil prices in opposition to the 2 males and the agency in a federal court docket in North Carolina, in search of

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Insurance coverage magnate wins new trial on bribery and fraud expenses

  • N.C. insurance coverage commissioner recorded conversations with the exec as a part of FBI sting operation
  • Appeals courtroom faults a jury instruction about which each events complained

(Reuters) – A federal appeals courtroom has thrown out the 2020 bribery and fraud conspiracy convictions of insurance coverage magnate Greg Lindberg and likewise marketing consultant John Grey, who have been caught on tape providing North Carolina’s insurance coverage commissioner as much as $2 million to exchange the deputy in control of monitoring Lindberg’s firms.

The 4th U.S. Circuit Courtroom of Appeals on Wednesday mentioned the trial choose improperly lowered the prosecution’s burden

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A Magic Johnson Affiliate Funded a Small-Enterprise Lender. That Lender’s CEO Now Faces Fraud Prices.

Federal prosecutors filed fraud prices towards the chief of a monetary agency that acquired funding from an organization affiliated with basketball legend Earvin “Magic” Johnson to subject loans by the federal government’s Paycheck Safety Program.

The federal authorities alleges that

Rafael Martinez,

chief govt officer of MBE Capital Companions, used fraudulent monetary statements to realize approval from the Small Enterprise Administration to subject loans to small firms by the Paycheck Safety Program. Beneath this system, government-approved lenders supplied Covid-19 help to small companies within the type of forgivable loans backed by the SBA.

The costs have been filed final week

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Monetary audit investigation into South Dakota Corn finds proof of enterprise mismanagement; no fraud

A monetary audit investigation into the state’s largest agriculture group discovered proof of enterprise mismanagement practices by its former government director and legislative director.

Bob Rauenhorst, a licensed fraud examiner at ELO Prof, an accounting service in Mitchell, addressed the South Dakota Corn Utilization Council throughout their assembly Thursday, saying that the group’s longtime government director Lisa Richardson and legislative director Teddi Mueller didn’t act in the perfect curiosity of the council.

It was discovered that Mueller had allowed the disbursement of SD Corn Utilization funds when she was neither an worker of the group or a registered agent of

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Trump Group and Allen Weisselberg Search Dismissal of Fraud Expenses

As soon as the district legal professional’s workplace responds, the choose overseeing the case, Juan Merchan, will resolve whether or not to dismiss among the expenses. Such motions are customary, and judges not often toss out legal instances altogether.

If Justice Merchan declines to dismiss the case, it’s prone to proceed to trial in State Supreme Courtroom in Manhattan. He has tentatively set a late summer season trial date.

The filings on Tuesday adopted a brutal stretch for the Trump Group, which can be contending with Ms. James’s civil investigation. In a court docket submitting final week, the state legal

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UK is branded the ‘financial institution rip-off capital of the world’ with an absence of police assets blamed for rampant fraud

A scarcity of assets and lax attitudes amongst cops are being blamed for document will increase in financial institution fraud. Banks stopped scammers duping £736m out of account holders within the first half of this yr however the complete quantity stolen rose 30 per cent to £753.9m, in response to knowledge from banking commerce physique UK Finance.

The banking business has loads of assets set as much as attempt to stop fraud and make account holders suppose earlier than they switch funds.

This consists of the Banking Protocol scheme that enables financial institution employees to alert police after they suppose

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