Heavy

Silvergate Capital Settles for $50 Million Amid Regulatory Crackdown, Multiple Executives Face Heavy Penalties

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Washington, D.C. — Silvergate Capital Corp. has agreed to pay a hefty $50 million to settle charges by the Securities and Exchange Commission (SEC), which accused the firm and its key executives of misleading investors about its compliance protocols and customer monitoring capabilities. This agreement comes amid heightened scrutiny from federal and state regulators. The SEC’s allegations centered around claims that Silvergate Capital, its subsidiary Silvergate Bank, and two former officials, including the CEO, provided false assurances about the robustness of their Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) systems. Particularly in focus was the firm’s … Read more

Wendy’s Slapped with Heavy Fines for Widespread Violation of Child Labor Laws in Pennsylvania

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Philadelphia, Pennsylvania – The Department of Labor and Industry in Pennsylvania has fined nearly two dozen Wendy’s restaurants for violating child labor laws. The operator of 21 Wendy’s locations, GCWen Management, is facing a total of 766 violations at restaurants in Bucks, Montgomery, and Chester counties. This marks a serious breach of labor laws in the state. The investigation into Wendy’s locations in Pennsylvania was initiated by the Bureau of Labor Law Compliance at L&I. The department received a tip regarding injuries suffered by working children, prompting them to look into the matter further. As … Read more

Man Allegedly Threatens to Harm University of Minnesota Students, Prompts Heavy Police Presence in Watson

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WATSON, Minnesota – Law enforcement officials have surrounded the home of a suspect in an alleged threat, leading to the shutdown of a portion of the city of Watson. The University of Minnesota identified the suspect as 41-year-old Joseph Mark Rongstad, who reportedly made a threat on social media to “start killing kids” on the Twin Cities campus. The university canceled its alert around 1 p.m. after announcing that the Chippewa County Sheriff’s Office had contained Rongstad in their county. Posts made on a Facebook page for Rongstad’s business, which appear to be from him, … Read more