The former CEO of bankrupt cryptocurrency lending platform Celsius Network, Alexander Mashinsky, has been arrested and is facing a string of charges for allegedly misleading investors and manipulating the price of the company’s crypto token, the Department of Justice announced on July 13. Mr. Mashinsky was arrested Thursday and charged with securities fraud, commodities fraud, and wire fraud for defrauding…
Ex-CEO of Bankrupt Cryptocurrency Exchange Celsius Arrested, Charged With Fraud
July 14, 2023
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Crypto Platform FTX Goes Bankrupt, Boss Resigns
FTX Group, a collection of some 130 companies behind the cryptocurrency platform FTX, has filed for bankruptcy, and its boss, Sam Bankman-Fried, has quit. The group has initiated voluntary bankruptcy proceedings under Chapter 11 in the District of Delaware, according to a press release on Nov. 11. Bankman-Fried, who has been replaced in his role as CEO…
Congressional Clown Show Bankrupts America
Commentary Seemingly lost in the day-to-day nonsense of our political theater is the fact that the United States Congress is responsible for passing an annual budget. You know, one of those things that determines how you spend your money and keeps you from going broke. Well, once again our elected leaders on Capitol Hill have…
The Postal Service Is Bankrupt
Commentary The U.S. Postal Service is underwater. It’s financially drowning. Ben Franklin, America’s first postmaster general, must be rolling over in his grave. Even Biden’s Postal Service director, Louis DeJoy, admits that the agency LOST $15 billion over the past two years. His prognosis is anything but promising. HE predicts some $160 billion of red…
Over 20,000 Applicants Compete for a Job in Tibet Amid China’s Unemployment Crisis
This year, workers in China have encountered waves of large-scale layoffs. In the latest Chinese civil service exams, a post office in Tibet shockingly received the most applications. Registration for China’s 2022 civil service recruitment ended at 6 p.m. on Oct. 24. According to its official website, the total number of applicants was 2,047,281, and…
Bankruptcy Judge Approves Purdue Pharma’s $7 Million Executive Bonus Plan
A bankruptcy judge on Monday approved up to $7.1 million in bonuses for five executives of Purdue Pharma, the bankrupt maker of OxyContin, at a hearing at which he faced blunt criticism for his handling of the case from a woman whose son died of an opioid overdose. Bankruptcy Judge Robert Drain in White Plains,…
China’s HNA Group Ignores Promise to Repay Employees’ Investments in the Company
China’s HNA Group was recently hit with an open letter from a whistleblower who said it was written on behalf of more than 20,000 employees, accusing former chairman, Chen Feng, of an under-the-table operation to repay his own debts. Previously, The Epoch Times reported that the acquisitive conglomerate, once synonymous with China’s global ambitions, had entered…
China’s ‘Richest Village’ in Financial Crisis
March 2, 2021
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Huaxi Village in Jiangsu Province, which was once touted by the Chinese regime as “China’s richest village,” is in financial trouble. Experts believe the situation reveals the corruption among the elite. Huaxi Group, the company which is collectively owned by the village and its residents, and has many sub-companies and listed companies, has a debt…
China in Focus (Feb. 2): Fertility App Sued for Data Sharing
One woman accuses a smartphone app of sharing data with the Chinese regime. The software helps women plan their pregnancies. Chinese people living overseas finally make their way back to their home country. But citizens there denounce their return—calling them “disease-ridden.” A major financial services company is going bankrupt. The Chinese firm’s fall from success…
Wendy’s Franchisees, Flynn to Buy Bankrupt NPC’s Burger Joints
Wendy’s Co said on Thursday restaurant operator Flynn Restaurant Group as well as a few other of its franchisees would buy about 393 of its outlets operated by the bankrupt NPC Quality Burgers Inc. The announcement brings an end to the bitter public battle between Wendy’s and Flynn, who had both submitted bids for the…
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