All articles tagged with #businesscrime
Carlos Watson, cofounder of Ozy Media, was found guilty of fraud by a federal jury for misleading investors with falsified financial records and inflated audience numbers. Watson faces up to 37 years in prison, while his cofounder Samir Rao, who previously pleaded guilty to related charges, awaits sentencing.
Former 3Com CEO Robert Scott Murray has pleaded guilty to securities fraud for attempting to inflate Getty Images' share price through misleading announcements and a false acquisition bid, allowing him to sell his shares for a profit.
Former FTX CEO, the company that sponsored the Mercedes Formula 1 team, has been sentenced to 25 years in prison for fraud and conspiracy to launder money, after being held responsible for losing approximately $10 billion in customer funds. The partnership between FTX and Mercedes ended prior to the 2022 Brazilian Grand Prix, and the CEO has also been ordered to forfeit $11 billion in assets to the US government.
Sam Bankman-Fried, the FTX founder facing a 25-year sentence, may struggle to maintain his vegan diet in prison, particularly if he is sent to a facility with limited vegan options. The judge recommended a low- or medium-security prison, taking into account Bankman-Fried's wealth and autism diagnosis. A prison consultant suggested that his safety could be at risk in a medium-security facility, and food options are likely to be an issue regardless of the prison's security level.
Several Taco Bell restaurants in Oakland, California, have closed their dining rooms and are only offering drive-thru service due to a surge in crime, with one location being robbed four times since November. The rise in crime has also led to closures and safety concerns for other fast-food chains and businesses in the area, prompting some to go cashless or shut down entirely. The city has seen a significant increase in robberies and burglaries, leading to heightened security measures and closures, while state and local officials are taking steps to address the issue.
Fredericksen’s Hardware and Paint in San Francisco is implementing a one-on-one shopping experience to combat rampant shoplifting, with certain hours dedicated to individual customer assistance and a blocked-off entrance to deter thieves. The store's manager cites significant losses and safety concerns for employees and customers, with little help from city leaders or police. San Francisco supervisor Catherine Stefani acknowledges the crisis and calls for urgent action to address the police staffing shortage, while Mayor London Breed reports declines in certain crime rates for January.
Fredericksen’s Hardware and Paint in San Francisco is implementing a one-on-one shopping experience to combat rampant shoplifting, with specific hours for individual customer assistance and a blocked-off entrance to deter thieves. The store's manager cites significant losses and dangerous snatch-and-grab incidents, expressing frustration at the lack of support from city leaders and police. The initiative has been in place for three weeks, with plans to review its effectiveness after a month, while a city supervisor emphasizes the need to address the police staffing crisis.
Seattle restaurant Sandia has been broken into five times in six months, causing significant damage and financial loss. The owner, Nathan Yeager, expressed frustration and concern, stating that if the break-ins continue, the business may not survive. He called for community support and urged residents to contact city officials for action.
Denny's, a 54-year-old branch in Oakland, has closed due to soaring crime rates, including a 37% increase in robbery, 24% in burglary, and 45% in motor vehicle theft. The closure follows that of other businesses like Subway, Starbucks, and In-N-Out Burger, all of which have become targets for car burglaries. The city's mayor is facing a recall campaign, and businesses and residents are expressing concern over the safety and wellbeing of the community amidst the crime surge.
In-N-Out's decision to close its Oakland location due to increasing crime has sparked debate about the city's public safety issues. Some blame Mayor Sheng Thao for not addressing the crime problem, while others point to state and local laws that impede enforcement. The closure has drawn attention to the broader crime issues in Oakland, with calls for a regional interagency public safety task force. Despite efforts to address the problem, crime rates have risen, and the city's police department has been operating without a permanent chief since last February.
UK billionaire Joe Lewis, owner of Tottenham Hotspur football club, has pleaded guilty to insider trading in a US court, admitting to passing on information about his companies to various contacts. The fraud netted millions of dollars in profit, and Lewis pleaded guilty to conspiracy and two counts of securities fraud as part of a deal with prosecutors. He faces a maximum sentence of 20 years for each securities fraud count, but the plea agreement allows him to appeal if sentenced to prison time.