Tag Archives: Fraud

Tesla CEO Musk accused in lawsuit of fraud over going-private proposal
August 11, 2018 12:00 am|Comments (0)

(Reuters) – Tesla Inc and Chief Executive Elon Musk were sued on Friday by an investor who said they committed securities fraud in a scheme to “completely decimate” short-sellers that included Musk’s proposal to take the electric car company private.

FILE PHOTO: Elon Musk, founder, CEO and lead designer at SpaceX and co-founder of Tesla, speaks at the International Space Station Research and Development Conference in Washington, U.S., July 19, 2017. REUTERS/Aaron P. Bernstein/File Photo

The proposed class-action complaint filed by Kalman Isaacs in San Francisco federal court accused Tesla and Musk of trying to artificially manipulate the company’s stock price.

It said this occurred largely through a series of tweets by Musk on Aug. 7, including when he said he might take Tesla private and that there was “funding secured.”

Musk’s tweets helped push Tesla’s stock price more than 13 percent above the previous day’s close.

The stock has since retreated, in part following reports that the U.S. Securities and Exchange Commission had begun inquiring about Musk’s activity.

Tesla did not respond to a request for comment.

Isaacs accused Musk of making false and misleading statements to inflate Tesla’s stock price, and that Tesla “doubled-down” on those statements by failing to correct them.

According to the complaint, Isaacs bought 3,000 Tesla shares on Aug. 8 to cover his short position, or bet that the price would decline, in the company.

The complaint said the class period begins on the afternoon of Aug. 7, when the defendants launched their “nuclear attack” on short-sellers, and ends the next day.

Reporting by Jonathan Stempel in New York; Editing by Rosalba O’Brien

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U.S. announces arrests in $530 million cyber identity fraud scheme
February 7, 2018 6:15 pm|Comments (0)

WASHINGTON (Reuters) – The U.S. Justice Department on Wednesday announced indictments of 36 people in a global internet identity theft scheme that caused more than $ 530 million in losses to consumers, businesses and financial institutions.

International law enforcement authorities arrested 13 defendants from the United States, Australia, the United Kingdom, France, Italy, Kosovo and Serbia.

“Today’s indictment and arrests mark one of the largest cyberfraud enterprise prosecutions ever undertaken by the Department of Justice,” said Acting Assistant Attorney General John Cronan.

Reporting by Sarah N. Lynch; Writing by Doina Chiacu; Editing by David Alexander

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Preakness Notebook: Jockey Leparoux Allegedly Victim Of Fraud
August 25, 2017 7:10 am|Comments (0)

Cloud Computing will be Chad Brown’s first-ever horse in the Preakness, but the Eclipse Award-winning trainer has been hands-off so far this week.
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The next target for phishing and fraud: ChatOps
November 19, 2016 7:05 pm|Comments (0)

This vendor-written tech primer has been edited by Network World to eliminate product promotion, but readers should note it will likely favor the submitter’s approach.

Enterprise chat applications have surged in popularity, driven in large part by Slack, which now claims to serve more than three million users daily.  What’s more, the popularity of these apps has given rise to a new phenomenon known as ChatOps, which is what happens when these new messaging systems are used to automate operational tasks. 

The ChatOps term was coined by GitHub to describe a collaboration model that connects people, tools, processes and automation into a transparent workflow.  According to Sean Regan, Atlassian’s Head of Product Marketing for HipChat, this flow connects the work needed, the work happening and the work done in a consistent location staffed by people, bots and related tools.  Its transparent nature hastens the feedback loop, facilitates information sharing, and enhances team collaboration, but also ushers in a new set of challenges for securityand risk professionals.

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