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> Seems to be just regular run-of-the-mill fraud. I’m surprised the DOJ hasn’t charged them with a crime yet. The money the SEC is seeking has to be long gone
by elliekelly 6y ago
> Seems to be just regular run-of-the-mill fraud.
I’m surprised the DOJ hasn’t charged them with a crime yet. The money the SEC is seeking has to be long gone right?
- dragonwriter 6y ago> I’m surprised the DOJ hasn’t charged them with a crime yet. When both civil SEC charges and criminal charges by DOJ emerge out of the same act, the former is often well ahead of the latter, so, when civil charges are filed without concurrent criminal charges, one shouldn’t read too much in to it. Though, as a reply points out, that separation does not actually apply in this case. EDIT: corrected error of ordering pointed out in a reply, and expanded somewhat for clarity of intent.
- kbenson 6y agoSo, since DOJ criminal charges awe usually well ahead of SEC civil charges, that means we probably won't see them? Or did you mix up some of the ordering there (as the wording makes it look like maybe you were trying to say we might see DOJ charges eventually because they take longer).
- etimberg 6y agoFrom the article > In a parallel action, the U.S. Attorney’s Office for the Northern District of California today announced criminal charges against Shamim.