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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2022-09-20T19:35:00
Software development company Sparkster and its Chief Executive Officer Sajjad Daya agreed to collectively pay more than $35 million and consent to a cease-and-desist order for the offer and sale of unregistered crypto securities, the Securities and Exchange Commission (SEC) announced Monday.
From April 2018 to July 2018, Sparkster and Daya conducted an unregistered securities offering of cryptocurrency tokens, raising $30 million from 4,000 investors from the United States and abroad, the SEC alleged in its order.
Without admitting or denying wrongdoing, Sparkster agreed to destroy its remaining tokens; request the removal of its tokens from trading platforms; and pay $30 million in disgorgement, approximately $4.6 million in prejudgment interest, and a $500,000 civil penalty.
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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.
2022-09-16T14:30:00Z By Kyle Brasseur
To see a prominent representative from the CFTC accuse the SEC of “regulation by enforcement” might raise the eyebrow of some observers. But it shouldn’t—not when that’s the latter’s stated strategy.
2022-08-04T18:44:00Z By Aaron Nicodemus
The Securities and Exchange Commission’s move to classify nine cryptocurrencies as securities as part of insider trading charges it brought against a former Coinbase manager has touched a nerve with other regulators, particularly the Commodity Futures Trading Commission.
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The Department of Justice and Securities and Exchange Commission charged a former product manager at Coinbase with insider trading for allegedly passing on tips to his brother and friend regarding when certain cryptocurrency assets would be made available on the platform.
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DaVita, a multi-state dialysis provider, agreed to pay more than $34 million to resolve allegations it engaged in numerous kickback schemes to doctors who referred Medicare patients to its dialysis centers, the Department of Justice announced.
2024-07-18T20:20:00Z By Adrianne Appel
A multi-state hospice home health provider agreed to pay $19.4 million to settle allegations that it paid kickbacks and knowingly billed federal health programs to treat non-terminally ill patients.
2024-07-17T20:37:00Z By Jeff Dale
California-based cancer testing company Guardant Health agreed to pay more than $945,000 to settle allegations levied by the Department of Justice of violating the False Claims Act and Stark Law.
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