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Fraud

AP News | Equities.com |

SEATTLE (AP) — The first word Seattle political consultant Dayna Lurie had that someone filed for unemployment benefits in her name was when her boss called.“Did you quit without telling me?” he asked. “We got an unemployment form from the state of Washington saying you don’t work here anymore.”It turned out that, like thousands of Washington state residents, Lurie’s identity was used by criminals seeking to capitalize on a flood of legitimate unemployment claims by sneaking in fra...


Reuters | Equities.com |

WASHINGTON (Reuters) - The novel coronavirus outbreak and economic fallout is proving to be a bonanza for whistleblower lawyers as the U.S. securities regulator cracks down on a range of related misconduct from companies touting sham cures to misuse of federal aid.The Securities and Exchange Commission (SEC) fielded about 4,000 complaints from mid-March to mid-May, a 35% increase on the year-ago period, Steven Peikin, the agency’s co-head of enforcement, said this month as ca...


Reuters | Equities.com |

By Echo Wang NEW YORK (Reuters) - Nasdaq Inc is set to unveil new restrictions on initial public offerings (IPOs), a move that will make it harder for some Chinese companies to debut on its stock exchange, people familiar with the matter said on Monday. While Nasdaq will not cite Chinese companies specifically in the changes, the move is being driven largely by concerns about some of the Chinese IPO hopefuls’ lack of accounting transparency and close ties to powerful insiders, the source...


Reuters | Equities.com |

WASHINGTON (Reuters) - Medical diagnostic firm PerkinElmer Inc faces a federal investigation into its role in an alleged Medicare fraud involving tens of thousands of unnecessary genetic cancer tests, according to three sources with knowledge of the probe and documents reviewed by Reuters. The firm conducted the tests now under scrutiny over 18 months, earning millions of dollars, according to one of those sources and three others familiar with the company’s lab operati...


Reuters | Equities.com |

Industrial conglomerate 3M Co said on Friday it sued five vendors for allegedly attempting to target government officials with fraudulent offers to sell billions of nonexistent N95 respirators. The vendors tried to sell respirators to officials in Florida, Wisconsin and Indiana at highly inflated prices, 3M said, adding that they were not connected with the company. N95 respirators, which are designed to filter 95% of airborne particles, are among personal protective ge...


Reuters | Equities.com |

Sources said some of the banks involved in the Chinese chain’s successful U.S. IPO last year were reviewing their work in the listing.


Reuters | Equities.com |

Wells Fargo admits to pressuring employees in the fake account scandal, but watchdog group Public Citizen criticized the deal, saying it does not go far enough.


Reuters | Equities.com |

In their latest indictment against Huawei, US prosecutors accused Huawei of stealing trade secrets and helping Iran track protesters.


Equities Staff | Equities.com |

Complaints about fake check scams are up 65 percent since 2015.



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