#sec-investigation
#sec-investigation
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fromBusiness Insider
5 months agoThe FBI is investigating a startup founder accused of using VC money to pay for her house and a Caribbean wedding.
In a civil complaint, the SEC has charged Luckey with violating securities laws for using millions of dollars of company funds to pay for her home, Super Bowl tickets, and a destination wedding in the Caribbean. The SEC alleges she painted a rosy picture of the company's booming revenue when ComplYant never brought in more than $620 in monthly revenue.
Venture
fromNewsNation
6 months agoSenators want FTC, SEC to probe alleged social media scam ads
Earlier this month, Reuters reported internal documents from late 2024 stated Meta expected to earn about 10% of its revenue that year, about $16 billion, from illicit advertising. One document noted Meta earns $3.5 billion in revenue from "higher risk" scam ads every six months. Other documents stated that Meta's anti-fraud rules didn't appear to apply to many ads that regulators and the company's own staff believed "violated the spirit" of its rules against scam advertising.
US politics
Tech industry
fromTESLARATI
6 months agoLuminar-Volvo breakdown deepens as lidar maker warns of potential bankruptcy
Volvo canceled a five-year lidar contract with Luminar, citing failure to meet contractual obligations, while Luminar faces loan defaults, layoffs, potential bankruptcy, and asset sales.
Food & drink
fromTasting Table
8 months agoWhy This Once Popular Italian Restaurant Chain Ended Up In Bankruptcy (With Under 50 Locations) - Tasting Table
Buca di Beppo's long-term decline, compounded by pandemic losses, led to numerous closures and a 2024 Chapter 11 bankruptcy with only 44 locations remaining.
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