A Christian billionaire and philanthropist accused of inflating a business portfolio to $36 billion was convicted Wednesday on several counts of financial fraud. Sung Kook “Bill” Hwang, founder and co-CEO of Archegos Capital Management, was convicted by a federal jury on 10 criminal counts,
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Appealing to their Christian faith, Cynthia Petion promised investors returns of up to 200% in just one year through her cryptocurrency investment platform, NovaTechFX (Novatech). Four years later, in May 2023, NovaTechFX collapsed. Now New York Attorney General Letitia James is suing Petion, her husband Eddy and the defunct company for allegedly defrauding tens of thousands of investors.
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Earlier this month, billionaire trader and philanthropist Bill Hwang appeared in court to answer for his role in a high-stakes Wall Street meltdown that saw several large banks lose billions in days. Jury selection began last week, followed by opening statements and the first witness testimony on Monday. The trial is expected to last eight weeks.
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Authorities arrested Robert Dell, 56, and four other associates for stealing merchandise worth more than $1.4 million from several of The Home Depot stores and then selling the merchandise on eBay under the name “Anointed Liquidator.” The virtual store has 100% approval rating and has registered more than 35,000 items sold over the past decade, according to its page on the online retailer’s website.
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The former president of a prominent Southern Baptist seminary in north Texas spent $1.5 million in home renovations and tens of thousands more in unchecked spending, according to a report from the institution.
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