California Man Arrested for Using Government’s Covid-19 PPP Loan to Buy Crypt...
The U.S. has arrested a man on criminal charges after he allegedly defrauded the government’s Covid-19 loan programs and used the money to buy cryptocurrency and Tesla. Using PPP Loan to Buy Cryptocurrency and Tesla The U.S. Department of Justice (DOJ) announced Friday that Lebnitz Tran was arrested Thursday “on criminal charges related to his alleged scheming to submit fraudulent loan applications seeking millions of dollars in Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Covid-19 relief funds.” According to an indictment unsealed Friday,....
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An ICO fraudster spent more than $7 million in fraudulently obtained covid relief on luxury personal expenses, including a Rolex, a luxury apartment, and a new Mercedes. A 24-year-old New York resident has pleaded guilty to acquiring more than $7 million in Covid-19 relief through fraudulent loan applications and misleading investors in a fraudulent initial coin offering during 2018.According to an April 20 announcement from the U.S. Department of Justice, Taiwanese national, Justin Cheng — also known as “Justin Jung” — Cheng submitted a series of online loan applications accompanied by....
A new study, which was undertaken by the Slovakian internet security company Eset, finds 50% of 35 to 44-year-olds have become involved in cryptocurrencies since the pandemic. The figure, the highest for any age group, underscores the role Covid-19 restrictions had in forcing citizens from six countries into embracing crypto assets. Changed Habits and Preferences According to Eset’s press release, a total of about 10,000 consumers participated in the study, and from that figure, 2,000 came from the United States. The rest of the respondents were from the U.K., Australia, Japan,....
Wall Street suffered Monday morning as the major U.S. stock indexes dropped further, building on losses gathered last week. Reports indicate that investors are concerned about the upcoming Federal Reserve rate hikes and China’s recent Covid-19 outbreak. As equities floundered on Monday, the crypto economy slid under the $2 trillion mark and gold prices dropped 1.6% against the U.S. dollar during the past 24 hours. However, after Elon Musk revealed he acquired Twitter at 2:50 p.m. (ET), both equities and crypto markets rebounded a great deal following the announcement.
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A new blockchain system will be used to manage and track COVID-19 exposure among students and staff in multiple charter schools across California state. The new applications and measures being implemented by public health authorities across the world during the COVID-19 pandemic have sparked debate over how to balance biosurveillance with individuals' right to the privacy of their personal information.In California, the Collaborative Charter Services Organization, which provides administrative support services to charter schools, has chosen to roll out a pandemic management system that....
Backpage.com CEO Carl Ferrer was arrested in Houston on Thursday in relation to an outstanding California warrant for multiple charges including prostitution, according to Reuters. The website has been the focus of a three-year investigation in the state of California regarding its online advertising of sexual services, and accusations of child trafficking for the purposes of sexual abuse. The two states say they have evidence of forced prostitution. A joint investigation by the offices of the Texas and California attorneys general uncovered evidence that adult and child sex trafficking....