U.S. charges head of NY money manager GPB Capital with Ponzi-like fraud
The head of a New York money manager that raised $1.8 billion from investors was criminally charged on Thursday with running a Ponzi-like fraud to cover up poor performance, and diverting investors’ money to boost their pay and fund luxury expenses. Authorities said GPB Capital Holdings LLC and its principal David Gentile promised investors consistent 8% annual returns plus occasional “special” distributions. They said GPB in fact suffered big losses, used new money to repay existing investors, and diverted funds for the personal use of its executives, including a Ferrari for Gentile. Two other individuals also face criminal charges, and the U.S. Securities and Exchange Commission and several state regulators filed related civil charges.
GPB did not immediately respond to requests for comment. Lawyers for the defendants could not immediately be located.
https://www.cnbc.com/2021/02/04/us-charges-head-of-ny-money-manager-gpb-capital-with-ponzi-like-fraud.html
from Sept 9 2020
Michael Cohn, Ex-GPB Capital Exec Pleads Guilty to Stealing SEC info
According to reports yesterday, Michael Cohn, former chief compliance officer at private equity firm, GPB Capital Holdings, pleaded guilty to a misdemeanor on Tuesday. Cohn, 61, was reportedly charged in February 2019 with stealing information about a probe into GPB Capital while he was reportedly still working for the SEC as a compliance examiner. Cohn reportedly pled guilty to theft of government property before U.S. District Judge Gary Brown in Central Islip, New York. Federal prosecutors alleged that during talks with GPB about potential employment with the firm, Cohn told GPB executives that he had inside information about an SEC investigation into the company, which they claim he shared. Cohn, who will be sentenced in January 2021, denied the allegations.
GPB Capital has been under investigation by various regulators, including the SEC, the Financial Industry Regulatory Authority and the FBI since 2018.
https://www.whitesecuritieslaw.com/2020/09/09/michael-cohn-ex-gpb-capital-exec-pleads-guilty-to-stealing-sec-info/
got peeps over on Sat but will keep eye out if ya do it then.
Outspoken Merck CEO Kenneth Frazier, who challenged Trump on race issues, to retire this year
Merck’s outspoken chairman and CEO, Ken Frazier, is retiring after almost 30 years at the drugmaker, the company announced Thursday.
Frazier, 66, will be succeeded as CEO on June 30 by Chief Financial Officer Robert Davis and will continue to serve on Merck’s board as executive chairman “for a transition period to be determined by the board,” the company said. Frazier, one of the few Black corporate leaders in the United States, has been Merck’s chief since January 2011. “It has been a privilege to serve as Merck’s CEO for the past decade and to work with the most dedicated and talented employees and management team in the industry,” Frazier said in the statement. “As executive chairman, I look forward to collaborating with Rob and our board of directors to help Merck achieve even higher levels of success.” Frazier’s final years at Merck were marked by his outspoken opposition to former President Donald Trump. He led a revolt among CEOs as the first to resign from Trump’s American Manufacturing Council shortly after the former president’s supportive comments of White nationalist and neo-Nazi groups at the deadly protest in Charlottesville, Virginia, in 2017.
He has called for business leaders to be a “unifying force” that can help solve many of the racial inequalities in America by creating new opportunities and jobs. He has said that education, and particularly financial literacy, is the “great equalizer.”
Frazier’s departure in June will leave only three Black CEOs at Fortune 500 companies. TIAA CEO Roger Ferguson, Jr. announced he would retire from his role at the end of March. Roz Brewer, Starbucks’ current chief operating officer, will take the top job at Walgreens Boots Alliance that same month.
After becoming an attorney, Frazier rose to become one of the country’s most prominent Black CEOs. Before joining Merck, Frazier helped free a Black death-row inmate who was falsely accused of murder.
Davis, 54, will become Merck’s president effective April 1, the company said. He joined the New Jersey-based pharmaceutical company as its top financial officer in 2014 after serving in leadership roles at Baxter International. Davis also spent14 years at Eli Lilly.
https://www.cnbc.com/2021/02/04/merck-says-kenneth-frazier-to-retire-as-ceo-effective-june-30.html
>>52640 pb
BLKWF14 USAF E-11A BACN GLEX on approach for Bradley Int'l Airport Hartford CT.
PF made a mistake on potential inbound Airport said NH originally
SAM627 USAF C-32A departing Phoenix Int'l after an overnight-inbound from JBA
68-10336 USAF U-2 Dragon Lady up from Skunkworks, Palmdale CA at 60k/ft
morning woody
SAM637 USAF G5 KAF AC of interdast nw from Abu Dhabi overnight
Inbound from JBA depart and Edinburgh Int'l, Scotland ground stop yesterday
about 51k for a stock one
SAM364 USAF C-32A departed Tucson-Davis Monthan AFB after an overnight
This AC departed JBA yesterday with ground stops at DIA (blucifer int'l) and Lubbock, TX-Int'l Airports.
GTMO844 US Navy Beech Huron sandwiched between to P-8's and heading to NAS Jax
168434 looks likely to set up off Space Coast
169543 just off Ft. Lauderdale
>we've been indoctrinated so deeply…
Some time ago I realized that if you don't keep a healthy dose of humor with all this it will be a poor experience.
Fully understand how first responders and mil personnel get overwhelmed by things so they turn to humor…seems the only way to keep from goin crazy.
Did not fully appreciate that until this came along.
Seer, Inc. sold by CEO/Chiar BoD: $69.87m-Feb 1
Seer, Inc. (California) engages in the development of proprietary engineered nanoparticles to provide access across the proteome. Its Proteograph product suite comprises automation instrument and software, which provides workflow to make proteomic profiling. The company was founded by Philip Ma, Robert S. Langer Jr., and Omid C. Farokhzad on March 16, 2017 and is headquartered in Redwood City, CA.
Chief Executive Officer-Omid Cameron Farokhzad
Omid Farokhzad is a Professor at Harvard Medical School (HMS) and a physician-scientist in the Department of Anesthesiology at Brigham and Women’s Hospital (BWH). Dr. Farokhzad established and directs the Center for Nanomedicine at BWH. He is a faculty member of the Brigham Research Institute Cancer Research Center and the Dana Farber/Harvard Cancer Center. Dr. Farokhzad and his team of scientists have developed a myriad of nanotechnologies for medical applications. He has authored more than 160 papers (>50,000 citations; H-Index 93; September 2019) and is an inventor of more than 200 issued / pending patents worldwide. The technologies that Dr. Farokhzad and colleagues have developed formed the basis for the launch of 4 biotechnology companies: BIND Therapeutics (clinical stage public company acquired by Pfizer), Selecta Biosciences (clinical stage public company), Tarveda Therapeutics (clinical stage private company) and Seer (clinical stage private company). These companies are translating the aforementioned academic innovations toward commercialization and societal impact. Dr. Farokhzad has served in various capacities on the Executive team, Board of Directors, and the Scientific Advisory Board of these companies. Dr. Farokhzad was inducted in the National Academy of Inventors in 2018, and the College of the Fellows of the American Institute of Medical and biological Engineering in 2012. He was a recipient of the 2013 RUSNANOPRIZE, one of the largest international nanotechnology prizes, for the development and industrialization of nanoparticle technologies for medical applications. In 2014, he received the Golden Door Award from the International Institute of New England for his societal and economic impact as a naturalized USA citizen. In 2015, he was named as one of The Worldview 100 by Scientific American, which recognized visionaries who shape biotechnology around the world. In 2016, he was among the recipients of the Ellis Island Medal of Honor for his scientific, societal and economic contributions to America as an immigrant. He was selected by Thomson Reuters among the Highly Cited Researchers in 2014, 2015, 2016, 2017 and 2018. The Boston Globe selected him among the top innovators in Massachusetts and the Boston Business Journal selected him among the Health Care Champions for his innovations. In 2012, he was among the regional Ernst & Young Entrepreneur of the Year awardees. He serves on numerous editorial boards including as Associate Editor of ACS Nano (impact factor ~14). Dr. Farokhzad completed his post-graduate clinical and post-doctoral research trainings, respectively, at the BWH/HMS and MIT in the laboratory of Institute Professor Robert Langer. He received his M.D. and M.A. from Boston University School of Medicine and his M.B.A. from the MIT Sloan School of Management.
https://farokhzad.bwh.harvard.edu/wp/members/principal-investigator/
Seer Announces Closing of Public Offering of Common Stock
Seer, Inc., a life sciences company commercializing a disruptive new platform for proteomics, today announced the closing of an underwritten public offering of 3,750,000 shares of Class A common stock at a public offering price of $67.00 per share, before deducting underwriting discounts and commissions. Of the 3,750,000 shares sold in the offering, 1,650,000 were sold by Seer and 2,100,000 were sold by selling stockholders of Seer. J.P. Morgan, Morgan Stanley, BofA Securities and Cowen acted as lead book-running managers for the offering.
https://investor.seer.bio/news-releases/news-release-details/seer-announces-closing-public-offering-common-stock
https://www.finviz.com/insidertrading.ashx?oc=1586852&tc=7&b=2
>>52640 pb
BLKWF14 USAF E-11A BACN GLEX departed Hartford, CT-Bradley Int'l ws after ground stop/crew change and refuel
This AC is likely heading to Edwards where another (newer one) was at for about a month.
Upgrade time for this one
began to break free from it in muh 20's
The family still doin' it and will never get away from what they think they know.
Learned long ago that is a difficult thing to convince anyone older than you (especially family) of anything.I stopped with them in 2018 cause they were not "hearing" a damn thing.
Their choice.
RAMSY77 USAFSOC C-32B on descent for Liberia, Costa Rica from McGuire AFB, NJ depart earlier
SAM627 USAF C-32A took a detour over to north of Lubbock TX (where SAM634 was yesterday) and on it's fourth go around at Peterson AFB
09-0017 USAF C-32A departed JBA and looks like another maintenance flight as with 16 earlier
BLKWF14 USAF E-11A BACN GLEX on descent for Wichita, KS
RCAF CFC3075 Challenger west from JBA ground stop-this AC used for VIP transports
Origin of Ottawa-Macdonald Cartier Airport this morning
Prolly going to Peterson AFB
U.S. stock funds post biggest weekly outflow since September
U.S.-based stock funds in the week ended Wednesday shed $12.4 billion, the biggest outflow since September, according to Lipper.
U.S. taxable bond funds attracted $12 billion, which was biggest weekly inflow since October, while money market funds shed $12.7 billion, marking the largest outflow in seven weeks, Lipper data showed on Thursday. U.S. municipal bond funds attracted $1.6 billion, the 13th straight weekly inflow.
https://www.reuters.com/article/usa-investments-mutualfunds/u-s-stock-funds-post-biggest-weekly-outflow-since-september-lipper-idUSL1N2KA2OP
now if they said suit up and we'll jump too you would refuse?
I'd do it as long as they came with.
even said I'd never do that again..
Duck Creek Technologies sold by Accenture plc: $182.17m-Feb 2
Duck Creek Technologies Inc. is a software as a service (SaaS) provider of core systems for the property and casualty (P&C) insurance industry. The Company's understanding of the P&C insurance industry has enabled it to develop a single, unified suite of insurance software products that promote a carriers nimbleness by enabling rapid integration and streamlining the ability to capture, access and utilize data. The Duck Creek Suite includes several products that support the P&C insurance process lifecycle, such as: Duck Creek Policy, Duck Creek Billing and Duck Creek Claims. In addition, it offers other solutions, such as Duck Creek Rating, Duck Creek Insights, Duck Creek Digital Engagement, Duck Creek Distribution Management, Duck Creek Reinsurance Management, Duck Creek Anywhere Managed Integrations and Duck Creek Industry Content.
https://www.marketscreener.com/quote/stock/DUCK-CREEK-TECHNOLOGIES-110869005/company/
Accenture began as the business and technology consulting division of accounting firm Arthur Andersen in the early 1950s when it conducted a feasibility study for General Electric to install a computer at Appliance Park in Louisville, Kentucky, which led to GE's installation of a UNIVAC I computer and printer, believed to be the first commercial use of a computer in the U.S. Joseph Glickauf, an early pioneer of computer consulting, held a position as head of Arthur Andersen's administrative services division
Accenture plc is an American-Irish multinational professional services company. A Fortune Global 500 company, it reported revenues of $44.33 billion in 2020 and had 506,000 employees. In 2015, the company had about 150,000 employees in India 48,000 in the US,and 50,000 in the Philippines. Accenture's current clients include 91 of the Fortune Global 100 and more than three-quarters of the Fortune Global 500. On 11 July 2019, Accenture appointed Julie Sweet as their new chief executive officer. She accepted her office on 1 September 2019. It has been incorporated in Dublin, Ireland since 2009.
https://en.wikipedia.org/wiki/Accenture
https://www.finviz.com/insidertrading.ashx?oc=1467373&tc=7&b=2
SAM634 USAF C-32A departed Myrtle Beach, SC after a ground stop-inbound from Tucson Davis Monthan AFB depart
This AC used as secondary AF2 and by the State Dept.
SCORE36 US Navy Triton drone has moved south from original tracking with SCORE77 US Navy P-8 Poseiden taking up that position off Delaware?Maryland coast
82-8000 USAF 747 over Atlantic City Int'l on another flight for Mandrake
SAM634 USAF C-32A departed Myrtle Beach, SC after a ground stop-inbound from Tucson Davis Monthan AFB depart
This AC used as secondary AF2 and by the State Dept.
SCORE36 US Navy Triton drone has moved south from original tracking with SCORE77 US Navy P-8 Poseiden taking up that position off Delaware?Maryland coast
82-8000 USAF 747 over Atlantic City Int'l on another flight for Mandrake
CLUB22 USAF E-4B Nightwatch west from JBA overnight
Arrived from Dyess AFB Abilene, TX
The calm before the storm.
@USMC
Marines provide security during a simulated raid exercise at @MCIWPendletonCA
https://twitter.com/DeptofDefense/status/1357433758576697348
RCAF CFC3075 Challenger on ground at Peterson AFB from JBA
Duck Creek Technologies sold by Apax Partners LLP: $273.26m-Feb 2
Duck Creek Technologies, Inc.’s Lock-Up Period To End on February 10th
Duck Creek Technologies’ (NASDAQ:DCT) lock-up period will expire on Wednesday, February 10th. Duck Creek Technologies had issued 15,000,000 shares in its IPO on August 14th. The total size of the offering was $405,000,000 based on an initial share price of $27.00. After the end of Duck Creek Technologies’ lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.
https://www.modernreaders.com/news/2021/02/03/duck-creek-technologies-inc-s-lock-up-period-to-end-on-february-10th-nasdaqdct.html
Duck Creek Technologies Inc. is a software as a service (SaaS) provider of core systems for the property and casualty (P&C) insurance industry. The Company's understanding of the P&C insurance industry has enabled it to develop a single, unified suite of insurance software products that promote a carriers nimbleness by enabling rapid integration and streamlining the ability to capture, access and utilize data. The Duck Creek Suite includes several products that support the P&C insurance process lifecycle, such as: Duck Creek Policy, Duck Creek Billing and Duck Creek Claims. In addition, it offers other solutions, such as Duck Creek Rating, Duck Creek Insights, Duck Creek Digital Engagement, Duck Creek Distribution Management, Duck Creek Reinsurance Management, Duck Creek Anywhere Managed Integrations and Duck Creek Industry Content.
https://www.marketscreener.com/quote/stock/DUCK-CREEK-TECHNOLOGIES-110869005/company/
Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of December 2017, the firm, including its various predecessors, have raised approximately $51 billion (USD) since 1981. Apax Partners is one of the oldest and largest private equity firms operating on an international basis, ranked the fourteenth largest private equity firm globally. Apax invests exclusively in certain business sectors including: telecommunications, technology, retail and consumer products, healthcare and financial and business services. Looks for a target EBITDA of $1,000mm - $5,000mm. Apax raises capital for its investment funds through institutional investors including corporate and public pension funds, university and college endowments, foundations and fund of funds. One of the firm's co-founders, Alan Patricof, was an early investor in Apple Computer and America Online (AOL).
https://en.wikipedia.org/wiki/Apax_Partners
https://www.finviz.com/insidertrading.ashx?oc=1821063&tc=7
SAM650 USAF C-40B on final at JBA from MacDill AFB ground stop
Departed from Bragg overnight earlier
State Dept AC
SAM627 USAF C-32A departed Peterson AFB after a ground stop and about 4 go arounds before touching down
SCORE36 US Navy drone back over C-Bay form off-shore work
need an eye break
back nb