USAO

Manatt Continues to Expand San Diego Office with Arrival of Former Federal Prosecutor

Retrieved on: 
Wednesday, April 3, 2024
Legal, Professional Services, Business, Finance, Theft, White collar, Accountability Act, Partner (business rank), Digital, Notre Dame Law School, LLP, University, Privacy, Disability discrimination act, Manatt, Phelps & Phillips, Lawsuit, Fraud, Europol, Tom, Health care, INTERPOL, USAO, FBI, Intelligence, Intellectual property, Private investigator

Manatt, Phelps & Phillips, LLP, a multidisciplinary, integrated professional services firm, today announced the arrival of San Diego-based trial lawyer and Partner Kareem A. Salem to the Firm’s Trial, White Collar and Investigations practice.

Key Points: 
  • Manatt, Phelps & Phillips, LLP, a multidisciplinary, integrated professional services firm, today announced the arrival of San Diego-based trial lawyer and Partner Kareem A. Salem to the Firm’s Trial, White Collar and Investigations practice.
  • “With deep roots in the region, Kareem is a wonderful addition to our growing San Diego office, which we recently unveiled following the arrival of former U.S. Attorney and office leader Randy S. Grossman ,” said Donna L. Wilson , Manatt’s CEO and Managing Partner and co-leader of the Firm’s Privacy and Data Security practice.
  • As an Assistant United States Attorney at the USAO, Salem was directly involved in combatting cyber threats throughout California and across the nation.
  • He was also a recipient of the North San Diego Business Chamber Hero Award and named in San Diego Metro Magazine’s 40 Under 40 list.

Government Prosecutors Seek to Protect the "Privacy" of City Officials Entangled in Web of Corruption Related to DWP Billing Scandal, Says Consumer Watchdog

Retrieved on: 
Monday, March 25, 2024
Consumer Watchdog, Hurst, Crime, Commissioner, Application, Name, District court, City attorney, Private law, Record, Weeping Angel, Lawyer, USAO, FBI, DWP, Multimedia, Privacy, Government, Court, Hearing, Blood, Private investigator

In their Response Brief, government prosecutors argued that City officials who were investigated by the FBI but ultimately not charged with a crime should have their names redacted to protect their privacy and related interests.

Key Points: 
  • In their Response Brief, government prosecutors argued that City officials who were investigated by the FBI but ultimately not charged with a crime should have their names redacted to protect their privacy and related interests.
  • Ultimately, four City officials were sentenced in connection with the DWP scandal.
  • However, significant questions remain about the roles other key officials played in the City's misconduct, including former City Attorney Mike Feuer.
  • Critics ask why certain individuals — including high-ranking personnel in the city attorney's office who remain unidentified in prosecutors' public court filings — escaped punishment."

SEC Charges Former Co-CEOs of Tech Start-Up Bitwise Industries for Falsifying Documents While Raising $70 Million From Investors

Retrieved on: 
Thursday, November 9, 2023
Failure, Bitwise operation, Complaint, USAO, Fraud, State bureau of investigation, Light, Internal Revenue Service, Security (finance), District court, Cryptocurrency

The SEC’s complaint alleges that Soberal and Olguin made material misrepresentations and falsified documents concerning Bitwise’s cash position and historical financial performance while raising approximately $70 million from investors in 2022.

Key Points: 
  • The SEC’s complaint alleges that Soberal and Olguin made material misrepresentations and falsified documents concerning Bitwise’s cash position and historical financial performance while raising approximately $70 million from investors in 2022.
  • According to the complaint, Soberal and Olguin created and provided investors with falsified bank records and a fake audit report that showed, respectively, inflated cash balances and higher revenues than Bitwise actually generated.
  • Soberal and Olguin’s alleged misrepresentations and falsified materials painted Bitwise as a healthy, growing business with favorable financial performance.
  • The SEC appreciates the assistance of the U.S. Attorney’s Office, the Federal Bureau of Investigation, and the Internal Revenue Service Criminal Investigation.

SEC Charges Investment Fund Founder William K. Ichioka with $25 Million Offering Fraud

Retrieved on: 
Thursday, June 22, 2023
Crypto, CFTC, Average revenue per user, Internal Revenue Service, USAO, State bureau of investigation, Joint Sigint Cyber Unit, Judgement, Complaint, District court, Gambling, Commodity Futures Trading Commission, Security (finance), Director of the Federal Bureau of Investigation, Criminal investigation, Enforcement, Contract management, Cryptocurrency, Ichioka

In reality though, as the complaint alleges, Ichioka was unable to pay investors the promised returns and used money from new investors to repay other investors.

Key Points: 
  • In reality though, as the complaint alleges, Ichioka was unable to pay investors the promised returns and used money from new investors to repay other investors.
  • Also, as alleged in the complaint, Ichioka falsified a bank statement and other documents to create an appearance of success.
  • In parallel actions, the U.S. Attorney’s Office for the Northern District of California (USAO) and Commodity Futures Trading Commission (CFTC) today also announced charges against Ichioka.
  • The SEC appreciates the assistance of the USAO, CFTC, the Federal Bureau of Investigation, and the Internal Revenue Service – Criminal Investigation.

Former Assistant U.S. Attorney in District of New Jersey Adam Baker Joins King & Spalding in New York

Retrieved on: 
Thursday, March 2, 2023
Fordham University, FBI, Combined Forces Special Enforcement Unit – British Columbia, Health care, Special, Government, USAO, King & Spalding, Executive Office of the President of the United States, Private practice, Alston & Bird, White House, Teaching, DOJ, Boston College Law School, Alston, Private investigator, Freshfields Bruckhaus Deringer, Boston College

NEW YORK, March 2, 2023 /PRNewswire/ -- King & Spalding announced today that Adam Baker has joined the firm's Special Matters and Government Investigations team as a partner in the New York office.

Key Points: 
  • NEW YORK, March 2, 2023 /PRNewswire/ -- King & Spalding announced today that Adam Baker has joined the firm's Special Matters and Government Investigations team as a partner in the New York office.
  • Baker most recently served as Assistant U.S. Attorney in the U.S. Attorney's Office (USAO) in the District of New Jersey.
  • Baker will focus his practice on guiding healthcare and financial services clients through government and internal investigations, white-collar litigation and regulatory matters.
  • Baker is the fifth partner to join the firm's Special Matters and Government Investigations team in the past three months.

Inotiv, Inc. Provides Business Update and Select Preliminary Fiscal Year 2022 Financial Results

Retrieved on: 
Monday, December 12, 2022
European, USAO, Drug discovery, DSA, Annual report, Animal, Communication, Documentation, NHP, Government, State, Marketing, Sale, Safety, RMS, United States Fish and Wildlife Service, Exchange, CITES, Research, Supplier, Uncertainty, Breeding, Development, Partnership, Pharmaceutical industry, Risk management, Clothing, Property management

As a result of these events, the Company requires additional time to complete the financial statement closing process for FY 2022.

Key Points: 
  • As a result of these events, the Company requires additional time to complete the financial statement closing process for FY 2022.
  • These expectations are preliminary and are subject to the completion of year-end accounting and financial reporting and audit procedures.
  • Why have these issues delayed the Company’s reporting of financial results for FY 2022?
  • The preliminary figures may differ materially from the actual results that will be reflected in the Company’s financial statements when they are completed and publicly disclosed.

Power Solutions International Announces Extension to $50 Million Shareholder Loan Agreement With Weichai America

Retrieved on: 
Friday, December 2, 2022
Exercise, Gasoline, Transport, CHP, Acceleration, Natural gas, Annual report, Biofuel, Propane, COVID-19, Standard Chartered, PSI, Engineering, SOFR, USAO, OTC Markets Group, WOOD, Security (finance), Risk management

Borrowings under the Third Shareholders Loan Agreement will incur interest at the applicable Secured Overnight Financing Rate (SOFR), plus 4.65% per annum.

Key Points: 
  • Borrowings under the Third Shareholders Loan Agreement will incur interest at the applicable Secured Overnight Financing Rate (SOFR), plus 4.65% per annum.
  • Further, if the applicable term SOFR is negative, the interest rate per annum shall be deemed as 4.65% per annum.
  • If the interest rate for any loan under the Third Shareholders Loan Agreement is lower than Weichais borrowing cost, the interest rate for such loan shall be equal to Weichais borrowing cost plus 1%.
  • Power Solutions International, Inc. (PSI) is a leader in the design, engineering and manufacture of a broad range of advanced, emission-certified engines and power systems.

SEC Names Nicholas Grippo as Regional Director of Philadelphia Office

Retrieved on: 
Monday, August 15, 2022
U.S. Securities and Exchange Commission, United States Department of Justice Criminal Division, Lists of crime films, Acting, SEC, District, Security (finance), Rutgers University, Department, Commission, Rutgers Law School, Superior court, USAO, Justice, Online gambling, Assistant United States Attorney, Enforcement

Washington, D.C.--(Newsfile Corp. - August 15, 2022) - The Securities and Exchange Commission today announced that Nicholas P. Grippo has been named Regional Director of the Philadelphia Regional Office, effective September 12, 2022.

Key Points: 
  • Washington, D.C.--(Newsfile Corp. - August 15, 2022) - The Securities and Exchange Commission today announced that Nicholas P. Grippo has been named Regional Director of the Philadelphia Regional Office, effective September 12, 2022.
  • Nicholas brings a wealth of experience to our Philadelphia Regional Office, said SEC Chair Gary Gensler.
  • As Director of the Philadelphia Regional Office, Mr. Grippo will lead a staff of more than 150 attorneys, accountants, investigators, securities compliance examiners, and other personnel involved in the prosecution of enforcement actions and performance of compliance examinations across the mid-Atlantic.
  • Mr. Grippo said, I am honored and privileged to join the Commission to lead the Philadelphia Regional Office.

Power Solutions International Announces Additional $30 Million Shareholder Loan Agreement With Weichai America

Retrieved on: 
Thursday, April 21, 2022
Biofuel, COVID-19, CHP, Natural gas, The Fourth, Annual report, Acceleration, Transport, Intention, PSI, GLOBE, WOOD, Engineering, Securities Exchange Act of 1934, SOFR, Company, OTC Markets Group, Fourth, Standard Chartered, SEC, USAO, Propane, Exercise, Gasoline, Security (finance), Risk management

WOOD DALE, Ill., April 21, 2022 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the Company or PSI) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that it entered into an additional shareholders loan agreement with its majority stockholder, Weichai America Corp. (Weichai), dated as of April 20, 2022 (the Fourth Shareholders Loan Agreement).

Key Points: 
  • WOOD DALE, Ill., April 21, 2022 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (the Company or PSI) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emission-certified engines and power systems, announced today that it entered into an additional shareholders loan agreement with its majority stockholder, Weichai America Corp. (Weichai), dated as of April 20, 2022 (the Fourth Shareholders Loan Agreement).
  • The Fourth Shareholders Loan Agreement, which matures on March 31, 2023, provides the Company with access to up to $30 million of credit at the discretion of Weichai to supplement the Companys working capital.
  • Borrowings under the Fourth Shareholders Loan Agreement will incur interest at the applicable Secured Overnight Financing Rate (SOFR), plus 4.65% per annum.
  • Power Solutions International, Inc. (PSI) is a leader in the design, engineering and manufacture of a broad range of advanced, emission-certified engines and power systems.

Power Solutions International Announces CFO Transition

Retrieved on: 
Wednesday, March 30, 2022
Company, Exercise, WOOD, Natural gas, University of Illinois Urbana-Champaign, Form 10-K, Propane, Standard Chartered, CHP, Transport, CFO, SEC, Northern Illinois University, PSI, Gasoline, Akorn, Intention, Securities Exchange Act of 1934, COVID-19, GLOBE, Biofuel, Engineering, Acceleration, CPA, Accounting, Annual report, USAO, OTC Markets Group, Security (finance), Risk management

Mr. Klein will continue to serve in his current role until the effective date to ensure an orderly transition.

Key Points: 
  • Mr. Klein will continue to serve in his current role until the effective date to ensure an orderly transition.
  • He originally joined the Company as director of accounting in March 2018 and served in this capacity until June 2019.
  • Power Solutions International, Inc.(PSI) is a leader in the design, engineering and manufacture of a broad range of advanced, emission-certified engines and power systems.
  • PSI provides integrated turnkey solutions to leading global original equipment manufacturers and end-user customers within the power systems, industrial and transportation end markets.