Feds

Federal officials said they recovered $242,579 in back wages covering 72 workers at a Westminster restaurant after investigators determined the employer didn’t pay the legally required minimum wage, illegally kept employees’ tips and denied overtime. The U.S. Department of Labor said Monday that Lychen Inc., operating as East Moon Asian Bistro, violated the federal Fair Labor Standards Act when it failed to pay overtime to employees who worked more than 40 hours in a work week. The business also didn’t keep accurate…

The Department of Justice unsealed an indictment Friday that claims to identify the two hackers who brought down the notorious Mt. Gox cryptocurrency exchange more than a decade ago. He Tossed His Bitcoin, Now He Wants It BackPopularly remembered as one of the first major crypto exchanges to buckle under the weight of theft and financial mismanagement, Mt. Gox was hacked in 2011, leading to the loss of some 647,000 bitcoins. Not long afterward, the company imploded, and its former CEO was arrested and charged with fraud…

WASHINGTON—A Federal Reserve official cautioned policy makers against undertaking a broad revamp of the regulatory framework facing small and regional banks, saying complex new rules could hasten the consolidation of the banking industry and potentially push more activities outside of the regulated banking system. WASHINGTON—A Federal Reserve official cautioned policy makers against undertaking a broad revamp of the regulatory framework facing small and regional banks, saying complex new rules…

Federal vehicle-safety regulators are calling for a recall of air-bag inflation devices that would trigger one of the largest safety actions in U.S. history, citing at least two deaths and eight injuries. Federal vehicle-safety regulators are calling for a recall of air-bag inflation devices that would trigger one of the largest safety actions in U.S. history, citing at least two deaths and eight injuries. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an…

A top Federal Reserve official said changes in lending conditions and their potential effects on economic activity and hiring would be a top focus as officials determine whether they have raised rates enough to bring inflation down. In a speech Tuesday, New York Fed President John Williams cited the lag between when the Fed raises interest rates and when those actions slow down the economy in cautioning that it will take time for the central bank’s rapid rate increases to slow down economic activity to…

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. On today’s episode of our Equity podcast, the team dives in to ponder whether First Republic’s share tumble is a victim of SVB’s collapse, or whether there’s something else in the water. It’s well worth a listen — as ever! Another not-to-miss today is Jacquelyn’s Chain Reaction newsletter, where she picks apart what’s coming down the pike now that Binance.US sailed away from its $1.3…

Coinbase, one of the largest cryptocurrency exchanges in the world, is no stranger to U.S. courts, federal investigations, or lawsuits. But usually, the crypto company is defending itself, not filing the legal complaints. In a rare twist on the classic, Coinbase has sued the Securities and Exchange Commission. And, counterintuitively to what one might expect, the suit is because Coinbase is asking the SEC for more (or at least clearer) rules.Crypto Exchanges Restrict WithdrawalsThe exchange filed a mandamus petition…

On Monday, the U.S. Attorney’s Office for the Eastern District of New York alleged that the Chinese government used all sorts of techniques to harass and spy on Chinese dissidents living in the United States. This included a massive bot farm on Twitter, harassing dissidents on Zoom calls, and even physically setting up shop in a defacto “police station” on U.S. soil.Why is the Dancing Baby an NFT?According to Department of Justice officials, China’s Ministry of Public Security used the national police task force called…

Since late June, federal authorities have seized $961 million worth of goods over suspected ties to forced labor, officials told CNBC.In many instances, companies have no idea their supply chain is tainted, officials said.CNBC received exclusive access in February to the Port of New York and New Jersey, the largest port on the East Coast, located a few miles southwest of Manhattan. There, millions of dollars' worth of cargo – from solar panels to bedding to floor tiles – was being held while major companies scrambled to…

MISSION, Texas —  There was the teenager from Texas. The father from San Diego. The runner from Indiana.They went for a day trip. Or a wedding. Or a winter vacation. But they all died after taking counterfeit pain pills purchased at drugstores in Mexico. And they all got those medications in the more than three years between the time the federal government learned of the threat and officials finally warned the public.A Times investigation published last month showed that both the U.S. State Department and the Drug…