Audrey Strauss, U.S. Attorney for the Southern District of New York, announced on Wednesday in a statement, that Sheng-Wen Cheng, a CEO of a financial technology company has been sentenced to 6 years in prison for fraudulently obtaining $7 million in government loans intended to provide relief during the COVID-19 pandemic as well as for…
Fintech CEO Sentenced to 6 Years in Prison for COVID-19 Relief Loan Fraud, Investment Fraud
Beijing Launches Antitrust Probe Into Tech Giant Alibaba, Scrutinizes Ant Group
Two Chinese companies founded by billionaire Jack Ma have come under Chinese regulators’ scrutiny, including with the launch of an antitrust probe. On Dec. 24, China’s State Administration for Market Regulation announced on its website that it has launched an investigation into e-commerce site Alibaba over its monopoly practices, such as a policy that forces…
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