EUR/USD 1.16158
-0.414%
Gold 4455.22
-1.984%
Oil 92.814
6.575%
USD/JPY 159.689
0.272%
GBP/USD 1.34257
-0.307%
GBP/JPY 214.399
-0.035%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The UK Ministry of Defence: A training accident occurred in northern Iraq on Sunday, May 31, 2026, resulting in the death of a British soldier.The UK Maritime Trade Operations Office has received a report of an incident 40 nautical miles southeast of Umm Qasr, Iraq. A cargo ship sailing in the Arabian Gulf was struck on its starboard side by an unidentified flying object, which subsequently caused a large explosion.Novartis (NVS.N) shares fell 3%, on track for their worst performance since November 2025.June 1st - The US ISM Manufacturing PMI for May was 54, up 1.3 points from April, the highest level since May 2022, driven by increases in new orders and production. The manufacturing PMI has shown expansion for five consecutive months, indicating renewed vitality in the manufacturing sector against the backdrop of significant increases in investment in artificial intelligence, more favorable tax policies, and reduced trade policy uncertainty. New orders accelerated to their highest level in four months, while factory production also rose. Part of the increase may also be attributed to consumers attempting to stockpile goods in anticipation of future price increases. Conflicts in the Middle East and the closure of the Strait of Hormuz have led to rising prices for oil and other raw materials. Although oil prices have fallen from their peak, they remain well above pre-war levels. ISM data shows that for producers, raw material costs continue to rise sharply, and while the price index has declined, it remains near its highest level since 2022.Citi/YOUGOV survey: UK one-year inflation expectations fell to 4.7% in May, while long-term inflation expectations fell to 4.0%.

Ex-CFO pleads guilty to stealing from SPACs to trade meme stocks, cryptocurrencies

Skylar Shaw

Jan 04, 2023 14:13

微信截图_20230104095705.png


An ex-chief financial officer (CFO) of several special purpose acquisition companies (SPACs) pled guilty to stealing more than $5 million from them and losing almost all of it in joke stocks and cryptocurrencies.


Tuesday in federal court in Manhattan, Cooper Morgenthau, 35, of Fernandina Beach, Florida, entered a plea of guilty to one count of wire fraud. The judge was U.S. District Judge Paul Engelmayer.


When Morgenthau is sentenced on April 25, the suggested federal guidelines call for a jail term of between six and seven and a half years.


The U.S. Securities and Exchange Commission also resolved related civil allegations against him in exchange for his agreement to lose $5.11 million and pay an equivalent amount in restitution.


A representative for Morgenthau, Michael Bowen, refused to comment.


According to the authorities, Morgenthau stole more than $1.2 million from African Gold Acquisition Corp between June 2021 and August 2022, covered it up by fabricating account statements, and either spent it all in securities trading or lost it all.


The SEC said that Morgenthau then solicited $4.7 million from investors in SPACs known as Strategic Metals Acquisition Corp to make up for his losses, only to lose the majority of it in cryptocurrency trading.


African Gold, a New York-based company formed to purchase a gold mining company, raised $414 million in an IPO in February 2021.


According to the SEC, it dismissed Morgenthau in August of last year when he ran out of money and its suppliers refused to do business with him.


At the time, African Gold said that it fired Morgenthau after becoming aware of his "improper withdrawals" and efforts to hide them.


According to a statement from Manhattan U.S. Attorney Damian Williams, Morgenthau "confessed that he betrayed the trust that he owed to his public and private investors."


Suggestion