Kazakh fintech Freedom Holding is being investigated by DOJ, SEC, documents show
Publishing timestamp: 2023-10-06 10:01:41
Summary
Freedom Holding, a Kazakh financial firm listed on the Nasdaq, is under investigation by the Justice Department and Securities and Exchange Commission (SEC) over compliance issues, insider stock moves, and offshore operations tied to sanctioned individuals. The investigation is looking into the firm's internal controls, claims of providing access to U.S. IPOs, and potential securities violations. The company's CEO, Timur Turlov, acknowledges the regulatory scrutiny but denies any wrongdoing. The investigation could take years and may not result in charges.
Sentiment: MIXED
Tickers: FRHC,
Keywords: crime, breaking news: technology, breaking news: politics, sec, russia, stock exchanges, justice department, investors, fraud and false statements, breaking news: markets, markets, united states, belize, freedom holding corp, politics, kazakhstan, business news,