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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2022-09-30T19:42:00
The Securities and Exchange Commission (SEC) charged Paul Edalat and two pharmaceuticals companies he controlled with engaging in a fraudulent investment scheme.
Edalat has been chief executive officer, controlling shareholder, and chairman of the board at Vivera Pharmaceuticals since April 2018. During that time, he was also controlling shareholder and chairman of the board at Sentar Pharmaceuticals.
From May 2018 until June 2020, Vivera raised about $6.6 million from 63 investors through a private placement memorandum that claimed Vivera owned an exclusive global license for a method of delivering CBD and THC, both derived from cannabis, under the tongue, according to the SEC’s complaint, filed Friday in U.S. District Court for the Central District of California.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
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.
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
2024-07-01T21:14:00Z By Adrianne Appel
A Minnesota dermatology practice, its owner, and chief executive agreed to pay $1.6 million to settle allegations, first brought by two whistleblowers, that the company violated the Anti-Kickback Statue by making false claims to Medicare.
2024-06-27T16:56:00Z By Jeff Dale
Italy-based Mondo TV agreed to pay $538,000 to settle charges with the Treasury Department’s Office of Foreign Assets Control over 18 apparent violations of North Korea sanctions regulations.
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