We are in the midst of the longest government shutdown in history and the capital markets are feeling the pinch. Depending on when the shutdown ends, these next few weeks could have an impact on capital raising in 2019. Two experts explain how regulators are responding to the shutdown and how you can negotiate the regulatory terrain in the meantime.
SEC: Houston Developers Fraudulently Misused Investor Funds
The SEC announced Wednesday that America Modern Green Senior, America Modern Green Community and America Modern Green Residential have agreed to settle charges that they improperly used $49.5 million they raised from 90 Chinese investors for a project under the EB-5 Immigrant Investor Program.
SEC Settles Fraud Charges with AriseBank Execs
The SEC announced Wednesday that AriseBank ex-chief executive officer Jared Rice Sr. and ex-chief operating officer Stanley Ford will pay about $2.7 million in disgorgements and penalties for operating a cryptocurrency scheme that used former heavyweight boxing champ Evander Holyfield as a spokesperson.
FBI Charges AriseBank CEO with Fraud
Federal prosecutors in Dallas announced Wednesday that they have charged AriseBank CEO Jared Rice Sr. with multiple counts of fraud related to a North Texas cryptocurrency scheme that used former heavy weight boxing champion Evander Holyfield as a spokesman.
North Texas Real Estate Developer Indicted for Fraud
A Collin County grand jury has indicted the owners and operators of North Forty Development and Texas Cash Cow Investments for securities fraud and money laundering.
U.S. Attorney Erin Nealy Cox Named to Justice Department’s China Initiative
Nealy Cox will serve on the China Initiative with four other U.S. Attorneys from New York, California, Alabama and Massachusetts.
‘Frack Master’ Faulkner Pleads Guilty to Bilking Millions from Investors
Breitling Energy CEO Christopher Faulkner – the self-proclaimed ‘frack master’ – admitted Tuesday in federal court documents that he spent tens-of-millions of dollars of investor money on booze, strippers and expensive cars. The Texas Lawbook has full details.
Barry Sorrels Represents Ex-Dallas Councilman in Tax Evasion Plea Deal
The Dallas County schools bribery scandal, which has led to convictions of two high-ranking Dallas city officials, a school superintendent and two businessmen, appears to be winding down. Four-term Dallas City Councilman Larry Duncan pleaded guilty Monday to one count of tax evasion. The Texas Lawbook has the lawyers involved.
SEC Enforces Identity Theft Red Flags Rule for the First Time: What it Means for Texas Businesses
The SEC recently issued a cease-and-desist order against a financial firm based in part on a violation of the Identity Theft Red Flags Rule, marking the first time the agency has enforced the rule meant to regulate how businesses protect clients’ personal information. In this article, lawyers at Winstead analyze the decision and offer takeaways.
SEC/DOJ Changing Focus, Staff Attrition Challenges & TX GCs Discuss Their White-Collar Nightmares
The world of white-collar criminal prosecutions and federal government enforcement actions is in turmoil or at least evolving significantly. Then, there is the so-called “Trump Effect” on government regulation and prosecution of businesses.
