EUR/USD 1.17341
-0.046%
Gold 4702.44
-0.269%
Oil 97.227
-1.504%
USD/JPY 157.718
0.069%
GBP/USD 1.35375
-0.015%
GBP/JPY 213.517
0.059%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japans Economic Watchers Current Conditions Index for April was 40.8, below the expected 41.5 and the previous reading of 42.2.Samsung Electronics rose 1.3% in the afternoon, lagging behind the broader market; SK Hynix shares rose 7%.May 13th - Data released Wednesday by consulting firm Benchmark Mineral Intelligence shows that global demand for electric vehicles rose for the second consecutive month in April, primarily driven by persistently high gasoline prices prompting buyers to abandon gasoline-powered cars. BMI stated that, as a measure of sales volume, the number of newly registered pure electric vehicles and plug-in hybrid electric vehicles increased by 6% year-on-year in April, reaching 1.6 million units, although this figure is 9% lower than the record high set in March.The European-Mediterranean Seismological Centre reported that a 4.3-magnitude earthquake struck off the coast of Chiapas, Mexico, at 12:05:41 Beijing time, with a focal depth of 15 kilometers.On May 13th, at the Create2026 Baidu AI Developer Conference, Shen Dou, Executive Vice President of Baidu Group and President of Baidu Smart Cloud Business Group, revealed that the Kunlun Chip P800 has completed large-scale verification, and multiple 10,000-card clusters have been delivered since 2025. Furthermore, on the Kunlun Chips domestically produced clusters, training on the important version 5.1 of Wenxin has been successfully completed, achieving an effective training rate of 97% for the entire cluster. The linear scalability of the 10,000-card cluster exceeds 85%, meeting the requirements of cutting-edge large-scale model training for computational accuracy, operator stability, framework adaptation, and long-term operation. In addition, the Tianchi 256-card supernode based on the Kunlun Chip was lit up last month and will be officially launched in June.

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