Security News in Brief: Justice Department and Federal Trade Commission Seek to Strengthen Enforcement Against Illegal Mergers

Source: United States Department of Justice News

Today, the Justice Department’s Antitrust Division and Federal Trade Commission (FTC) launched a joint public inquiry aimed at strengthening enforcement against illegal mergers. Recent evidence indicates that many industries across the economy are becoming more concentrated and less competitive – imperiling choice and economic gains for consumers, workers, entrepreneurs and small businesses. These problems are likely to persist or worsen due to an ongoing merger surge that has more than doubled merger filings from 2020 to 2021. To address mounting concerns, the agencies are soliciting public input on ways to modernize federal merger guidelines to better detect and prevent illegal, anticompetitive deals in today’s modern markets.

Security News in Brief: Contractor Sentenced for Attempting to Evade Paying Taxes on Nearly Two Million Dollars of Unreported Income

Source: United States Department of Justice News

PROVIDENCE, R.I. – A Boston-area contractor who frequently traveled to Rhode Island to cash business checks at a check-cashing business as part of a scheme to not report or pay taxes on nearly $2 million in income was sentenced today in U.S. District Court in Providence, announced United States Attorney Zachary A. Cunha.

Security News in Brief: St. Petersburg Man Sentenced To More Than Three Years In Prison For Covid-19 Program Fraud

Source: United States Department of Justice News

Tampa, Florida – U.S. District Judge Susan C. Bucklew has sentenced Louis Thornton III (63, St. Petersburg) to three years and six months in federal prison for fraudulently obtaining money through various Covid-19 relief programs, including the Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) and the Economic Injury Disaster Loan (“EIDL”) program. As part of his sentence, the Court also entered a money judgment in the amount of $814,632.50, the proceeds of the wire fraud scheme.

Security News in Brief: U.S. Citizen Charged with Conspiring to Provide Electronic Equipment and Technology to the Government of Iran

Source: United States Department of Justice News

A dual Iranian-U.S. citizen was arrested Friday in Chicago, Illinois, on criminal charges related to his alleged conspiracy to illegally export U.S. goods, technology and services to end users in Iran, including the government of Iran, in violation of the International Emergency Economic Powers Act (IEEPA).