Courts Financial News

Panamanian court has acquitted 28 people charged with money-laundering under cases linked to the Panama Papers and "Operation Car Wash" scandals, the country's judicial branch said in a statement on Friday. It did not provide names of the people who were acquitted. Judge Baloisa Marquinez ordered that precautionary measures be lifted against all the defendants, and said one criminal process was now canceled due to the death of an unnamed defendant.

Mo’ money, mo’ problems, as a wise man once declared. And so it seemed to go for the late great Michael Jackson, according to a new development surrounding his estate.

The Supreme Court has upended a 40-year-old decision that made it easier for the federal government to regulate the environment, public health, workplace safety and consumer protections

Executive branch agencies will likely have more difficulty regulating the environment, public health, workplace safety and other issues under a far-reaching decision Friday by the Supreme Court

A US District Court judge has signed off the settlement two months after a jury found Terraform and Kwon civilly liable for fraud after the $40 billion collapse of the company and its ecosystem.The collapse happened after, in May 2022, the TerraUSD stablecoin was de-pegged from the US dollar, prompting it and Terraform’s other tokens to plummet to close to zero in value, leading to "devastating losses to countless investors," says the SEC.Terra's implosion also set off a series of devastating events for the crypto industry, causing the failure of crypto hedge fund Three Arrows Capital which, in turn, hit Genesis Global Capital and FTX.SEC Chair Gary Gensler says: “Terraform and Do Kwon’s fraudulent activities caused devastating losses for investors, in some cases wiping out entire life savings. Their fraud serves as a reminder that, when firms fail to comply with the law, investors get hurt."The judgement, to which Terraform and Kwon consented, includes $4.05 billion of disgorgement plus interest, and a $420 million civil fine for the company.

A division bench of Justices S K Sahoo and R K Pattanaik upheld the trial court’s conviction of Shaikh Asif Ali for the rape and murder of the child under sections 302/376 of the IPC and section 6 of the Pocso Act. However, the court decided that Ali, who was 26 at the time of the crime in 2014, should be imprisoned for life, with the order specifying that the state government should pay Rs 10 lakh to the victim’s parents. Justice Sahoo, who authored the judgment, provided additional reasons for commuting Ali's death sentence to life imprisonment.

CID) probing charges against former Karnataka Chief minister B S Yediyurappa of sexually assaulting a minor girl, has alleged in the chargesheet that the BJP leader and three other accused paid money to the alleged victim and her mother to buy their silence. The 81-year-old Yediyurappa has been charged under Section 8 (punishment for sexual assault) of the Protection of Children from Sexual Offences (POCSO) Act and Sections 354A (sexual harassment), 204 (destruction of document or electronic record to prevent its production as evidence) and 214 (offering gift or restoration of property in consideration of screening offender) of the Indian Penal Code (IPC). The other three co-accused — Arun Y M, Rudresh M and G Mariswamy who are aides of Yediyurappa — are charged under IPC Sections 204 and 214, in the chargesheet filed at the Fast Track Court 1 for POCSO Act cases here on Thursday. According to the chargesheet, on February 2 this year, at around 11.15 am, the 17-year-old alleged victim, along with her 54-year-old mother — the complainant — visited Yediyurappa at his residence in Dollar's Colony here seeking help in getting justice in a previous case of sexual assault (on the daughter) and other issues.

The NTA reform panel has initiated a call for suggestions from stakeholders, including students and parents, regarding examination reforms, setting a deadline of July 7. This move follows the establishment of a high-level committee comprising seven experts tasked with ensuring the transparent, smooth, and fair conduct of examinations. The decision to form this expert panel comes amidst recent controversies surrounding the National Eligibility cum Entrance Test (NEET) 2024.

The Canada Revenue Agency is ramping up efforts to recover overpayments of pandemic-related benefits.

The Justice Department has charged nearly 200 people in a sweeping crackdown on health care fraud schemes nationwide with false claims topping $2.7 billion

The US Supreme Court curbed the Securities and Exchange Commission’s ability to press complaints before in-house judges, saying defendants have a constitutional right to make their case to a federal jury when the agency is seeking financial penalties.

Center for Investigative Reporting said Thursday it has sued ChatGPT maker OpenAI and its closest business partner, Microsoft, marking a new front in the legal battle between news publications fighting against unauthorized use of their content on artificial intelligence platforms. The nonprofit, which produces Mother Jones and Reveal, said that OpenAI used its content without permission and without offering compensation, violating copyrights on the organization's journalism. The lawsuit, filed in a New York federal court, focuses on how AI-generated summaries of articles threaten publishers — a move CIR called exploitative. «It's immensely dangerous,» Monika Bauerlein, the nonprofit's CEO, told AP. «Our existence relies on users finding our work valuable and deciding to support it.»

WASHINGTON — The Supreme Court on Thursday put new limits on the power of the Securities and Exchange Commission to enforce securities laws — the latest ruling in a series of cases that take aim at federal agencies.

Another news organization is suing ChatGPT maker OpenAI and its business partner Microsoft for alleged copyright infringement

The Supreme Court has rejected a settlement for OxyContin maker Purdue Pharma and members of the Sackler family who own the company

The chairman of a federal control board that oversees Puerto Rico’s finances has announced he is stepping down as the U.S. territory struggles to restructure more than $9 billion in debt held by its troubled power company

The Supreme Court has stripped the Securities and Exchange Commission of a major tool in fighting securities fraud in a decision that also could have far-reaching effects on other regulatory agencies

The Supreme Court has cleared the way for Idaho hospitals to provide emergency abortions for now in a procedural ruling that leaves key questions unanswered

The Environmental Protection Agency won't be able to enforce a key rule limiting air pollution in nearly a dozen states while separate legal challenges proceed around the country

An attorney for the publisher of The Sun tabloid has accused Prince Harry of destroying evidence it was seeking in his lawsuit claiming the newspaper violated his privacy

The Supreme Court has rejected a nationwide settlement with OxyContin maker Purdue Pharma that would've shielded Sackler family members who own the company from civil lawsuits over the toll of opioids but also would've provided billions of dollars to c...