A former Wells Fargo executive has been sentenced to probation for her role in a scandal that rocked the bank in 2016. Carrie L. Tolstedt, a former head of retail banking at Wells Fargo who left the bank in 2016, received a sentence of three years of...
A former executive at now-bankrupt Celsius Network, Roni Cohen-Pavon, has reportedly pleaded guilty to criminal charges in the United States and has agreed to cooperate with prosecutors’ investigations. Cohen-Pavon, who served as chief revenue officer at the cryptocurrency lender founded by Alex Mashinsky, admitted to four...
During a high-stakes antitrust trial, a Google lawyer, John Schmidtlein, reportedly said that companies choose Google as their default search engine not because of a lack of competition but because it is simply the best option available. Making his opening statements Tuesday (Sept. 12) at the start of...
In its heyday, FTX paid millions to professional athletes to promote its platform. Now, the cryptocurrency company is hoping to get that money back. As Bloomberg News reported Friday (Sept. 8), the company’s advisers have been studying if payments made to sports figures such as NBA legend Shaquille...
The war over Sam Bankman-Fried’s jailhouse internet access continues. Attorneys for the accused cryptocurrency fraudster said in a memo to the court Friday (Sept. 8) that prosecutors are overstating the access their client has to material to assist his defense. Bankman-Fried, 31, is accused of...
Wells Fargo will pay $1 billion to settle an investor lawsuit tied to authorized customer accounts. The settlement was approved Friday (Sept. 8) by U.S. District Judge Jennifer L. Rochon and brings the amount the banking giant has agreed to pay in connection with its “fake...
A federal appeals court has upheld a ruling limiting how the White House can communicate with social media platforms. The ruling Friday (Sept. 8) by the U.S. Fifth Circuit Court of Appeals says that President Joe Biden’s administration’s efforts to restrict what it deems misleading content about COVID-19 on social...
Federal prosecutors want Wells Fargo’s former retail banking head to spend time behind bars. Carrie Tolstedt agreed earlier this year to plead guilty to obstructing an investigation into her bank’s practice of opening accounts for millions of customers without their consent. And a Bloomberg News report Saturday (Sept. 2) — citing...
The criminal fraud trial of FTX founder Sam Bankman-Fried is reportedly facing a potential delay. Bankman-Fried’s defense lawyers have raised concerns about the limited time they have had to review the extensive evidence in the case, Reuters reported Wednesday (Aug. 30). U.S. District Judge Lewis...
