Latticework Capital Management has announced its acquisition of Catalina Research Institute (CRI).

CRI, based in Montclair, Calif., is a multidisciplinary clinical trials facility. Founded in 1997, the company specializes in the conduct of phase II through phase IV pharmaceutical drug studies.

Latticework, based in Dallas, makes control equity investments in the lower middle…

WindRose Health Investors has announced it has completed an investment in Third Wave Recovery Systems (TWRx).

TWRx, based in Las Vegas, is a pharmaceutical rebate manager. The company provides services to hospitals, long-term care (LTC) facilities and select specialty physician groups.

WindRose, based in New York, pursues control equity investments in healthcare companies.…

RELATED UPDATE: DOJ Announces “Pilot Program Regarding Compensation Incentives and Clawbacks” with Significant Ramifications for Corporations Facing Criminal Investigations (March 6, 2023)

On Sept. 15, 2022, U.S. Deputy Attorney General Lisa Monaco announced important guidance and new actions from the U.S. Department of Justice (DOJ or the Department) on corporate criminal enforcement. Her remarks, delivered at the New York University School of Law, echoed those McGuireWoods covered last fall regarding DOJ’s increased focus on individual accountability and corporate policing.

In short, the remarks reveal that the Biden administration continues to take an aggressive policy stance on the investigation and prosecution of corporate crime. However, Monaco acknowledged the reality that its current enforcement numbers do not reflect that aggressive posture.

Pharos Capital Group has announced it has invested in Renal Care 360°.

Renal Care 360°, based in Franklin, Tenn., is a nephrology practice and chronic care management company. Founded in 2018, the company partners with health systems, physician groups and local communities to provide community healthcare management services.

Pharos, with offices in Dallas…

LLR Partners has announced a growth investment in Vantage Point Logistics (VPL).

VPL, based in Westerville, Ohio, is a provider of supply chain management software for healthcare organizations. Founded in 2011, the company states it works with more than 700 hospitals, pharmacies and ambulatory surgery centers and more than 6,000 suppliers.

LLR, based…

On August 31, 2022, Plaintiff Melanie E. Damian, in her capacity as the Court-Appointed Receiver for Today’s Growth Consultant, Inc. d/b/a The Income Store (“TGC”) (the “Receiver”) filed a complaint against Defendant Core Financial Outsourcing of Chicago (“Core Financial”) in the Northern District of Illinois (“Damian II”) seeking damages, injunctive relief, interest, and attorneys’ fees and costs. The complaint alleges five claims for professional negligence, aiding and abetting breach of fiduciary duty, unjust enrichment, and two violations of the Illinois Uniform Fraudulent Transfer Act.

This action stems from a prior enforcement action seeking civil penalties and injunctive relief filed by the Securities and Exchange Commission (“SEC”) against TGC and its founder, Kenneth D. Courtright, III (“Courtright”), based upon TGC and Courtright’s alleged violation of federal securities laws and operation of a website services Ponzi scheme.

We previously wrote about PLB Investments LLC et al v. Heartland Bank and Trust Co. et al., a related case initiated by various defrauded investors of TGC against two bank defendants that

On September 7, 2022, Jimmy Kirby, the Acting Deputy Director of the Financial Crimes Enforcement Network (“FinCEN”), gave remarks during the 2022 Federal Identity Forum & Exposition (“FedID”) on the importance of securing digital identity.

In his opening comments, Kirby emphasized digital identity as “fundamental to the effectiveness of every financial institution’s AML/CFT program.”

Guo, et al. v. Robl, et al. was filed in the United States District Court for the Central District of California on August 8, 2022.  Plaintiffs assert claims of fraudulent inducement, fraud, breach of fiduciary duty, civil racketeering under RICO, violations of the California Penal and Corporations Codes, violations of state securities laws, and breach of contract.  Plaintiffs request compensatory damages and equitable relief against defendant media production companies and related individuals and entities that allegedly induced investors into financing film projects that ultimately failed, leaving Plaintiffs with substantial losses.

Plaintiff Gosdom, Inc. (“Gosdom”) is a California corporation, and Plaintiff Vanessa Guo (“Guo”) is its Chief Executive Officer (collectively “Plaintiffs”). Defendants Kevin Robl (“Robl”) and Chris Bremble (“Bremble”) are principals and managers of Defendants Production Capital, LLC (“Production Capital”) and/or Chinese-based production company Base Media Technology Group Limited (“Base Media”), and Defendant Remington Chase (“Chase”) is the principal of Defendants Production House International, LLC (“Production House”) (collectively, “Enterprise Financing Defendants”). The remaining Defendants consist of American and Chinese filmmakers and media companies, California attorneys, and various entities based in California, Delaware, and Wyoming—all of which benefited from or were aware of the loan and investments used to finance the film projects.

The Enterprise Defendants are alleged to have engaged in a scheme to defraud