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Indian Chemical Firm Indicted in US Fentanyl Precursor Smuggling Case

2025-03-21

An Indian chemical manufacturing company, Vasudha Pharma Chem Limited (VPC), and three of its high-ranking executives were indicted in a US federal court for illegally importing precursor chemicals used to make fentanyl. The indictment alleges VPC advertised and sold these chemicals globally, including two sales of 25 kilograms of N-BOC-4P to an undercover agent. A larger, planned four-metric-ton transaction—two tons to Mexico and two to the US—was also detailed. If convicted, the individuals face up to 10 years in prison, and VPC faces substantial fines. Two executives were arrested in New York City.

MoviePass Parent Company CEO Pleads Guilty to Securities Fraud

2025-01-08

Theodore Farnsworth, former CEO of Helios & Matheson Analytics Inc. (HMNY), the parent company of MoviePass, pleaded guilty to securities fraud. He admitted to a scheme to defraud investors in both HMNY and Vinco Ventures Inc. by misrepresenting MoviePass's "unlimited" subscription model as profitable and falsely claiming the use of AI technology to boost HMNY's stock price. This case, one of the Justice Department's first "AI washing" cases, highlights the risks of using AI claims to perpetrate fraud.