SoftBank has recently filed a lawsuit against a UK-based immersive robotics company called IRL which stands for In Reality Limited. The lawsuit alleges that the company took part in a “massive and elaborate” international fraud scheme to fraudulently obtain more than $150 million from SoftBank’s Vision Fund. The lawsuit alleges that IRL, started by serial… Continue reading SoftBank sues IRL over ‘elaborate scheme’ that swallowed $150M
Category: fraud
Etsy sellers say a fraud protection program is destabilizing their businesses
In recent years, Etsy has become a household name as a vibrant marketplace for artisans and small business owners to sell their handmade items. The platform offered these entrepreneurs the ability to reach a wide audience and gave them a greater sense of autonomy than traditional retail stores. However, a new fraud protection system implemented… Continue reading Etsy sellers say a fraud protection program is destabilizing their businesses
US charges fugitive crypto exec Do Kwon with eight counts of fraud
On Friday, April 2, 2021, the United States Department of Justice (DOJ) charged fugitive South Korean cryptocurrency executive Do Kwon with eight counts of fraud related to a “multi-million dollar fraud scheme.” Kwon was the former CEO of Korea Financial Investment Association, a Korean-based investment firm, and Linkcoin, a cryptocurrency exchange. He fled to Singapore… Continue reading US charges fugitive crypto exec Do Kwon with eight counts of fraud
Whoops! Crypto company Gemini is having some trouble with fraud
In recent news, popular crypto company Gemini has been the victim of some fraud. On March 9th, Gemini announced that an unauthorized party had accessed some of its customer accounts and transferred funds to unknown external wallets. Fortunately, Gemini reported that only a small portion of their customers were affected and all customer funds are… Continue reading Whoops! Crypto company Gemini is having some trouble with fraud
Don’t Call It a Comeback: Ozy’s CEO Arrested for Fraud
In a shocking turn of events, the CEO of the once respected tech company Ozy has been arrested on suspicion of fraud. The news has sent shockwaves through the tech community, with the stock market reeling from the news. Christian Saul, 43, was arrested yesterday after federal investigators discovered that he had been using his… Continue reading Don’t Call It a Comeback: Ozy’s CEO Arrested for Fraud
Victory for Elon: Jury Says Tesla ‘Funding Secured’ Tweet Wasn’t Fraud
Winning a high-stakes court case to prove innocence of an act of alleged fraud is a huge victory for anyone; for a larger-than-life entrepreneur like Elon Musk, that victory may be all the sweeter. On March 11th, a jury found that Tesla founder Elon Musk did not commit fraud when he famously tweeted that he… Continue reading Victory for Elon: Jury Says Tesla ‘Funding Secured’ Tweet Wasn’t Fraud
Elon Musk cleared of fraud in ‘funding secured’ trial
Tesla founder and tech entrepreneur Elon Musk has been cleared of fraud in his infamous “funding secured” case following a ruling by a federal district court in New York earlier this summer. Musk had been accused of committing securities fraud after tweeting “funding secured” in August 2018, claiming that he had secured funds to take… Continue reading Elon Musk cleared of fraud in ‘funding secured’ trial
Daily Crunch: US law enforcement charges SBF with fraud as he awaits extradition after Bahamas arrest
News of a US law enforcement agency charging businessman Sean “SBF” Faries with fraud rocked the world last week after his arrest in the Bahamas. Faries is now awaiting extradition to the United States, where he will face numerous criminal charges. Sean “SBF” Faries is a high-profile businessman and entrepreneur, managing a variety of investments… Continue reading Daily Crunch: US law enforcement charges SBF with fraud as he awaits extradition after Bahamas arrest