Financial Crime Weekly: Former Celsius Vice President pleads guilty to insider trading, Lockheed Martin pays nearly $30 million in settlement – Nasdaq (NASDAQ: CELH)

Stephen Georgeformer vice president and controller Celsius Holdings, Inc. Celhon Tuesday, he pleaded guilty in a role in an insider trading program that brought him more than $1.6 million in profits.

According to court documents, George served as a member of the finance division of Celsius Holdings from November 2017 to April 7, 2023, and served as a role including vice president and controller. After George left the company, George allegedly sent himself internal data on the company’s first-quarter financial results and purchased 20,000 shares of Celsius stock in the next month and 300 calls options on the stock.

George sold his stock and phone options contracts in May 2023 for a net worth of $1.68 million after Celsius reported record quarterly revenue.

George pleaded guilty to one count of securities fraud and faced a maximum sentence of 20 years in prison on April 28.

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Lockheed Martin pays nearly $30 to address flawed pricing charges

The U.S. Department of Justice announced Thursday Lockheed Martin LMT Agree to pay $29.74 million to resolve false claims laws for flawed pricing for F-35 military aircraft contracts.

The payment also adds $11.3 million that LMC has previously paid to the Department of Defense to the same unpublished fees and pricing data for certain contracts.

According to court documents, between 2013 and 2015, Lockheed Martin’s pricing proposal was exaggerated by not providing accurate, complete and current costs to the Department of Defense’s Joint Program Office and Pricing data to obtain the F-35 contract awarded to the F-35 for production or maintenance.

“Those who do business with the government must be fair and honest,” the acting assistant attorney general said. Brett A. Shumate Civil department of the Ministry of Justice. “We will seek contractors who intend to abuse taxpayer funds.”

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