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<ul class="summary-list"><li>The <keyword id="11898795" type="UNKNOWN" weightage="60" keywordseo="sec" source="Orion">SEC</keyword> is investigating Terraform Labs' marketing practices prior to its <keyword id="11931191" type="UNKNOWN" weightage="60" keywordseo="stablecoin" source="Orion">stablecoin</keyword>'s collapse, sources told Bloomberg.</li><li>The move follows <keyword id="13891032" type="UNKNOWN" weightage="60" keywordseo="terrausd" source="Orion">TerraUSD</keyword>'s loss of its one-to-one dollar peg that roiled cryptocurrency <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword>.</li></ul>The Securities and Exchange Commission is investigating Terraform Labs for allegedly violating federal investor protection regulations, <a href="https://www.bloomberg.com/news/articles/2022-06-09/sec-investigating-ust-stablecoin-blowup-in-fresh-threat-to-terra">sources told Bloomberg.</a>Terraform Labs is the firm behind TerraUSD, a stablecoin that sent shockwaves throughout cryptocurrency markets last month when it lost its one-to-one dollar peg. Its sister token, Luna, also collapsed in response to TerraUSD's fall. The SEC is exploring if Terraform Labs broke investment and securities products rules in its marketing, Bloomberg reported. The company didn't immediately respond to Insider's request for comment. But Terra told Bloomberg it was not aware of any SEC probe into any alleged violations.The probe is the latest headwind for Terra. The SEC previously sought information from the firm in November 2021 in response to its Mirror Protocol, which the regulator alleged was <a href="https://www.sec.gov/litigation/litreleases/2021/lr25262.htm">an effort to sell securities without registering them</a>.Meanwhile, the company is being <a href="https://www.ft.com/content/a8319c03-3d49-4923-a51a-fc403dcce58a?list=intlhomepage">investigated for an employee's alleged embezzlement in South Korea</a>, according to the Financial Times. South Korean authorities are already probing separate complaints that the company deceived investors. Terraform co-founder Daniel Shin denied the investors' accusations in a statement to the FT. Terra has tried to rebound from its stablecoin collapse by issuing new coins via "airdrop" to existing wallets. Co-founder Do Kwon's proposal last month to split the Terra ecosystem in two in an effort to move away from its native stablecoin won approval last month. Terra's blockchain is now split into Luna Classic and Terra Classic with new native coins.

The SEC is investigating if TerraUSD's marketing violated investor protection regulations, report says

<ul class="summary-list"><li>A Maryland man was tricked into embezzling $4m from his employer to save a woman from make-believe mobsters.</li><li>The family-run online con helped pay for luxury watches and a Rolls Royce.</li></ul>A man believed he was saving a woman from a <keyword id="11892836" type="UNKNOWN" weightage="60" keywordseo="new-york" source="Orion">New York</keyword> mobster, but he was lining the pockets of a family who spent his money on luxury watches and a Rolls Royce.Archie Kaslov, 55, and Candy Evans, 52, have been sentenced to prison for their roles in a wide-ranging <keyword id="11893299" type="UNKNOWN" weightage="60" keywordseo="fraud" source="Orion">fraud</keyword>, <keyword id="13690177" type="UNKNOWN" weightage="60" keywordseo="extortion" source="Orion">extortion</keyword>, and money-laundering scheme, the Department of Justice (DoJ) <a href="https://www.justice.gov/usao-dc/pr/new-york-couple-sentenced-prison-roles-4-million-extortion-scheme">said in a press release</a> on Tuesday. Their sons, Tony John Evans, Corry Blue Evans, Robert Evans, and Robert Evans' common-law ex-wife Gina Russell, also faced charges, said the DoJ.The scam targeted a Maryland man who was tricked into embezzling more than $4 million from his Washington, DC employer, the DoJ said.The man, who had not been identified, believed he was saving a New York woman he met on Backpage, also unidentified, who he had met online. She claimed that she was in danger because she owed money to local mobsters. To save her, he embezzled millions from his employer between January 2017 and March 2017. He then converted the funds into cash and gold bars and delivered the money to drop-off locations across New York, believing it would pay off the mobsters.But the money, the DoJ said, funded a spending spree for the Evans-Kaslov family. They used it to buy Rolexes watches worth hundreds of thousands of dollars and a Rolls Royce Phantom Drophead Coupé, per the press release.The mob enforcer was played by one of the New York couple's sons, the press release said.And the woman, per the release, had conspired with the family to extort money from the Maryland victim.In 2017, the press release said, Candy Evans, became "panicked" and asked Russell to marry the New York woman who was in on the scheme. They married at City Hall in New York City.Evans, according to the DoJ, believed that married individuals could not testify against each other.Evans also convinced the New York woman and Russell to sign a notarized, handwritten confession — an attempt to try and absolve the Evans-Kaslov family.She then changed the story to blame the extortion scheme on her son Tony John Evans, Russell, and the New York woman, the press release said. Evans was sentenced to 12 months and a day in prison, and three years of supervised release. Kaslov was sentenced to 30 months in prison, followed by three years of supervised release.Evans and Kaslov will, at some point, have to pay back their swindled funds in restitution.Their son Tony John Evans was jailed for five years in September 2018, after pleading guilty to interference with interstate commerce by extortion.Robert Evans and his ex-wife Russell have also pleaded guilty and are awaiting sentencing.Corry Blue Evans has pleaded not guilty.

New York couple part of a plot to trick a man into embezzling $4m to 'save' woman from make-believe mob enforcer

<ul class="summary-list"><li>Former CEO of Raiffeisen Bank, Pierin Vincenz, has been found guilty of <keyword id="11893299" type="UNKNOWN" weightage="60" keywordseo="fraud" source="Orion">fraud</keyword> and other charges. </li><li>The former "banker of the year" was sentenced to almost 4 years in prison.</li></ul>A Swiss ex-banker once awarded the title of "banker of the year" has received three years and nine months in jail for charges including fraud after a trial exposed his spending of nearly 200,000 Swiss francs ($200,000) of company money on strip clubs, tinder dates, and more, <a href="https://www.reuters.com/world/europe/verdict-due-swiss-banker-year-strip-club-bill-trial-2022-04-12/">Reuters report. </a> Former Chief Executive of Raiffeisen Bank, Pierin Vincenz, 65, was also fined 840,000 Swiss francs ($900,600) and ordered to pay nearly 1.6 million francs to firms affected by his fraud.Vincenz has been found guilty of several charges, including fraud, embezzlement, and forgery in a series of illicit deals that made him millions, said the <a href="https://www.sueddeutsche.de/wirtschaft/raiffeisen-vincenz-schuldspruch-1.5566094">German newspaper Süddeutsche Zeitung.</a> The expenses he charged to the bank became a feature of the trial poured over by the media.According to <a href="https://www.thetimes.co.uk/article/in-the-red-banker-put-20-year-tour-of-strip-joints-on-expenses-j0qxsbkxn">The Sunday Times,</a> Vincenz was accused of using his company credit card to fund what the prosecutor called a 20-year "tour de Suisse of the red-light zones."Most notable was the $217,675 paid to strip clubs and burlesque bars, the <a href="https://uk.finance.yahoo.com/news/banker-pierin-vincenz-says-200k-141351421.html">Daily Beast</a> previously reported. Vincenz spent approximately $97,000 at one burlesque cabaret theatre, The Sunday Times said, which he charged to his Raiffeisen company card.<a href="https://www.bbc.co.uk/news/world-europe-61092952">The BBC</a> previously reported that Vincenz spent 700 francs ($749.37) on dinner with a woman he met on Tinder, which he labeled a "job interview."<a href="https://www.thetimes.co.uk/article/in-the-red-banker-put-20-year-tour-of-strip-joints-on-expenses-j0qxsbkxn">The Times </a>reported that Vincenz claimed almost 250,000 Swiss francs on private jets and family holidays to Mallorca, Tenerife, and Dubai. Vincenz justified the spending by stating they were necessary to maintain contacts with international banks, German <keyword id="11893589" type="UNKNOWN" weightage="100" keywordseo="news" source="Orion">news</keyword> site <a href="https://www.tagesschau.de/wirtschaft/raiffeisen-chef-schweizer-bank-pierin-vincenz-gefaengnisstrafe-rotlichtmilieu-101.html">Tagesschau</a> said.During the trial, The Sunday Times said he admitted to "mistakes" regarding his corporate expenses. One of these errors, the newspaper said, was spending more than $5,000 on his company credit card to repair a Zurich hotel room wrecked in what prosecutors called a "massive row" with a stripper.<a href="https://www.reuters.com/world/europe/verdict-due-swiss-banker-year-strip-club-bill-trial-2022-04-12/">Reuters reports </a>that Judge Sebastian Aeppli, who sentenced Vincenz, said "(His) understanding, whereby practically all expenditures of a business person fall under disposable company expenses so long as any remote connection to the business activity exists, clearly went too far," Aeppli said.

Former 'banker of the year' jailed for almost 4 years after spending more than $217,000 at strip clubs and on Tinder dates

<ul class="summary-list"><li>A <keyword id="81673" type="PERSON" weightage="60" keywordseo="nun">nun</keyword> ran an embezzlement scheme at the Catholic elementary school where she worked for ten years.</li><li>Now, two years after she retired as principal, she's agreed to plead guilty to fraud and money laundering.</li><li>Over the course of her scheme she caused losses equal to $835,339, according to the <a href="https://www.justice.gov/usao-cdca/pr/nun-who-ran-catholic-school-torrance-will-plead-guilty-federal-charges-after-embezzling">Justice Department.</a></li></ul>A religious sister and <keyword id="221098" type="ORGANIZATION" weightage="60" keywordseo="Catholic-school">Catholic school</keyword> principal diverted school funds to bankroll her own personal expenses, including gambling trips to casinos and credit card charges, prosecutors allege.Mary Margaret Kreuper, a retired nun who served as principal of a Catholic elementary school in Torrance, California, for 28 years, agreed on Tuesday to plead guilty to fraud and money laundering charges for stealing more than $835,000 from her place of employment to support her secular lifestyle, <a href="https://www.justice.gov/usao-cdca/pr/nun-who-ran-catholic-school-torrance-will-plead-guilty-federal-charges-after-embezzling">prosecutors said.</a>From 2008 to 2018, Kreuper embezzled money from St. James Catholic School, where, as principal, she was in charge of the money the school received from tuition and charity donations. According to the Justice Department, Kreuper had access to the school's savings account and a credit union account that paid living expenses for other nuns who worked at the school.In her plea agreement, Kreuper admitted to falsifying monthly and annual reports to the school's administration in order to cover up her embezzlement. She also "lulled St. James School and the Administration into believing that the school's finances were being properly accounted for and its financial assets properly safeguarded, which in turn, allowed [her] to maintain her access and control of the school's finances and accounts and, thus, continue operating the fraudulent scheme."Kreuper acknowledged that she used the diverted funds "to pay for expenses that the order would not have approved, much less paid for," including gambling expenses in Nevada. Prosecutors have also accused Kreuper of directing school employees to change or destroy financial records during an audit of the school. Kreuper's lawyers told <a href="https://www.washingtonpost.com/nation/2021/06/09/nun-embezzlement-gambling-california-kreuper/">The Washington Post</a> on Wednesday that she is "very remorseful" and "sorry for any harm she has caused." "As soon as she was confronted she accepted full responsibility for what she had done and she has cooperated completely with law enforcement and the Archdiocese," her attorneys told the outlet, adding that "later in her life she has been suffering from a mental illness that clouded her judgment and caused her to do something that she otherwise would not have done."Kreuper was 18 years old when she became a nun and spent the next six decades in the church, according to The Post. She became principal at St. James Catholic School in 1990.After Kreuper retired in 2018, a financial review conducted by the school for the new principal revealed her schemes, <a href="https://www.latimes.com/local/lanow/la-me-ln-st-james-school-nuns-20181129-story.html">The Los Angeles Times</a> reported in 2018. The Archdiocese alerted authorities to their discovery soon after.The sisters' order agreed to reimburse the school and impose "appropriate" penalties and sanctions against Kreuper, The LA Times reported. Kreuper agreed to plead guilty to fraud and money laundering charges which carry a maximum statutory penalty of 40 years in federal prison, according to the Justice Department. She will next appear in court for an arraignment on July 1.

California nun embezzled hundreds of thousands from the Catholic school where she was principal to support her gambling, prosecutors say

A new <keyword id="23009" type="PERSON" weightage="60" keywordseo="Poll">poll</keyword> has found that marital infidelity is far from damning for a politician in the eyes of the public. 
Last night, former South Carolina Governor Mark Sanford (R-S.C.) <a href="http://www.businessinsider.com/mark-sanford-wins-south-carolina-election-2013-5">pulled off the comeback of his career,</a> winning his old congressional seat in the South Carolina 1st district special election. 
Sanford — despite a long political career and abundant name recognition — had a lot working against him.
In 2010 it was discovered that the then-Governor was engaged in a long-standing affair with an Argentinian woman.
During the election, it eventually came out that Sanford had trespassed on his wife's property to watch the Super Bowl. 
Still, Sanford was able to overcome these scandals and win the election. As it turns out, it helps that most people don't consider infidelity a reason to drop support for a candidate.
We and our polling partner SurveyMonkey — <a href="http://www.businessinsider.com/surveymonkey-election-online-poll-2012-11">whose Audience polling feature enjoyed outstanding success throughout the 2012 election</a> — developed a poll that tried to figure out what depravities a highly effective politician would have to do to make Americans stop supporting them.
The poll structure was simple. We mentioned certain crimes and moral lapses that a hypothetical "effective" congressional representative committed and asked them if they'd still support them.
The answers were surprising. For example, old-fashioned <keyword id="30454" type="UNKNOWN" weightage="60" keywordseo="Adultery">adultery</keyword> isn't as politically damning as it once was. Only 28% of those polled said that would make them stop supporting the candidate:
<table class="image-container" width="200"><tr><td><div class="image"></div>SurveyMonkey Audience - Business Insider Poll</td></tr></table>
As for Sanford's other lapse — the trespassing — people didn't much care about that either:
<table class="image-container" width="200"><tr><td><div class="image"></div>SurveyMonkey Audience - Business Insider Poll</td></tr></table>
Looking into lapses far beyond those of the newly-elected representative from South Carolina, people were more likely to oppose a candidate engaged in an extramarital affair if the third party was more than two decades the politician's junior:
<table class="image-container" width="200"><tr><td><div class="image"></div>SurveyMonkey Audience - Business Insider Poll</td></tr></table>
However, if the politician paid for the encounters that's an entirely different story. Half of voters would drop support for <keyword id="27469" type="UNKNOWN" weightage="60" keywordseo="politicians">politicians</keyword> who are also johns:
<table class="image-container" width="200"><tr><td><div class="image"></div>SurveyMonkey Audience - Business Insider Poll</td></tr></table>
Not as much of an issue is if the politician was caught driving under the influence, as Sen. Mike Crapo was earlier this year:
<table class="image-container" width="200"><tr><td><div class="image"></div>SurveyMonkey Audience - Business Insider Poll</td></tr></table>
However, an act that 60 percent of voters find totally inexcusable is the use of an illegal drug:
<table class="image-container" width="200"><tr><td><div class="image"></div>SurveyMonkey Audience - Business Insider Poll</td></tr></table>
These two charts are perhaps the most interesting. As the Philadelphia Eagles quarterback could tell you, an excellent way to lose support from nearly all Americans is to abuse animals. 
Strangely, 12% of those polled think that is not a completely damning offense. 
<table class="image-container" width="200"><tr><td><div class="image"></div>SurveyMonkey Audience - Business Insider Poll</td></tr></table>
 
However, there is one more crime a politician can do that is considered worse than abusing animals. 
That crime would be embezzlement, which would cause the politician to lose 87% of supporters:
<table class="image-container" width="200"><tr><td><div class="image"></div>SurveyMonkey Audience - Business Insider Poll</td></tr></table> 
What makes this even more interesting is the breakdown by political party. 
Republicans are more likely to drop support for a philanderer, drug user or trespasser.
Democrats are more likely to drop support for an animal abuser or embezzler.
Drunk drivers break down essentially evenly:
<div class="image-container click-to-enlarge" style="width:590px"><div class="image"><a title_source="SurveyMonkey Audience - Business Insider Poll" title_caption="" class="zoomin" href="http://static2.businessinsider.com/image/5189a3d8ecad04a30100000c-960/chart_1%20(7)-2.png"></a></div>SurveyMonkey Audience - Business Insider Poll</div>

You Searched For "embezzelment" and got 5 results

The SEC is investigating if TerraUSD's marketing violated investor protection regulations, report says

Brian Evans

New York couple part of a plot to trick a man into embezzling $4m to 'save' woman from make-believe mob enforcer

Joshua Zitser

Former 'banker of the year' jailed for almost 4 years after spending more than $217,000 at strip clubs and on Tinder dates

Bethany Dawson

California nun embezzled hundreds of thousands from the Catholic school where she was principal to support her gambling, prosecutors say

Erin Snodgrass

POLL: Americans Are Pretty Cool With Politicians Cheating On Their Spouses As Long As It's Not With A Prostitute

Walter Hickey

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