- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2022-11-04T18:28:00
The co-founder of NS8, a cyber-fraud prevention company, was sentenced to five years in prison and ordered to forfeit $17.5 million for defrauding investors of more than $100 million, the Department of Justice (DOJ) announced Thursday.
Adam Rogas, who formerly served as chief executive officer and chief financial officer at NS8, pleaded guilty in March in U.S. District Court for the Southern District of New York for fabricating customers, revenue, and assets for the fraud detection software company. The misstatements allowed him to defraud investors with the help of co-founder and Chief Information Officer David Hansen, according to the DOJ.
Rogas controlled a company bank account into which NS8 customer revenue was deposited. He provided monthly statements from the account to the finance department so it could create NS8’s official financial statements. He also controlled spreadsheets intended to track customers and revenue.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
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.
Adam Rogas, the former CEO of cyber-fraud prevention company NS8 who was sentenced to five years in prison for fraud, now faces charges of impeding and retaliating against a whistleblower following an amended complaint from the Securities and Exchange Commission.
Global professional services firm Huron announced that it has promoted Hope Katz to executive vice president, general counsel, and corporate secretary, effective Jan. 1.
Federal Reserve Bank of St. Louis announced that Jennifer Haynes, currently vice president and deputy general counsel, will be promoted to senior vice president, general counsel and corporate secretary, effective Jan. 1.
Purported “testimonial and review” service Rytr agreed to stop selling its program that used artificial intelligence to create fake content as part of a consent order with the Federal Trade Commission.
Bank of America avoided a monetary penalty in agreeing to settle charges with the Treasury Department’s Office of the Comptroller of the Currency but was ordered to shore up previously disclosed deficiencies in its Bank Secrecy Act/anti-money laundering (BSA/AML) and sanctions compliance programs.
Aviation maintenance services provider AAR Corp. will pay nearly $56 million to settle charges that it violated the Foreign Corrupt Practices Act when it paid bribes to government officials in Nepal and South Africa.
