Opinion: Wirecard fraud shows it’s time to regulate the regulators
Kate Ferguson, 29 April 2021
What would you do if you were confident you could get away with it? Perhaps you’d rob a bank, or have a wild affair. Or maybe you’d subsist on nothing but candy floss for the rest of your life.
The chances are you won’t, though. The risk of being arrested, destroying your marriage or becoming a diabetic are simply too high. For most of us, the question is destined to remain hypothetical. After all, life has taught us that bad behavior does not generally go unpunished.
Generally doesn’t mean always
There are notable exceptions to the rule, though. In recent years, three major scandals in Germany have provided pleasingly concrete answers to the question. Continue reading “Article: Opinion: Wirecard fraud shows it’s time to regulate the regulators”
He promised to turn dirt into gold. He got millions of dollars — and prison time
Amanda Jackson, CNN, 26 April 2021
(CNN) — A Utah man promised investors his business could turn dirt into gold and swindled millions of dollars from them over several years, according to federal officials. Now, he has been sentenced to prison for his role in an $8 million telemarketing fraud scheme.
Marc Tager, 55, is the latest defendant to be sentenced in the scam that started in 2014, according to the Department of Justice. On April 14, he was sentenced to 43 months in federal prison for conspiracy to commit wire and mail fraud, money laundering and possession of a firearm by a convicted felon. Continue reading “Article: He promised to turn dirt into gold. He got millions of dollars — and prison time”
This $800 million whistleblower program is losing its top cop
Matt Egan, 16 April 2021
The head of the Securities and Exchange Commission’s highly-successful whistleblower program is stepping down at a delicate moment for the market watchdog.
Jane Norberg is leaving the SEC on Friday, after presiding over a four-and-half-year period during which the whistleblower office handed out a staggering $702 million in awards to 114 individuals who aided the agency’s investigations.
Her departure comes as former Obama-era official Gary Gensler takes over the SEC and as regulators come under fire from progressives — and even some famous investors — for failing to do enough to protect investors. Continue reading “Article: This $800 million whistleblower program is losing its top cop”