U.S. Securities and Exchange Commission

Florida trucking company owner convicted in $112M Ponzi scheme

The owner of a Florida trucking and logistics company has been convicted for his role in an elaborate three-year truck investment Ponzi scheme that bilked investors out of $112 million.

Following a two-week trial, a federal jury in the U.S. District Court for the Southern District of Florida convicted Sanjay Singh, 45, of Coral Springs, on Nov. 8 of eight counts of wire fraud, money laundering and conspiracy charges.

On Nov. 13, U.S. District Judge David S. Leibowitz denied Singh’s motion to...

https://www.freightwaves.com/news/florida-trucking-company-owner-convicted-in-112m-ponzi-scheme

SEC charges 2 executives in $112M trucking Ponzi scheme

The U.S. Securities and Exchange Commission has charged two more Florida executives with participating in a truck investment venture that allegedly bilked investors out of $112 million. 

Ricardi Celicourt, 40, of Coconut Creek, and Brisly Guillaume, 39, of Boynton Beach, were named in a lawsuit filed by the SEC on Thursday in the U.S. District Court for the Southern District of Florida. The lawsuit charges both with violations of securities registration and broker-dealer registration provisions.

T...

https://www.freightwaves.com/news/sec-charges-2-executives-in-112m-trucking-ponzi-scheme

Reports: Justice Department investigating Lordstown Motors

The Justice Department is probing financially troubled Lordstown Motors Corp., according to several media reports Friday.

It is the latest blow to the company that plans to begin building battery-powered commercial pickup trucks this fall at a former General Motors plant in the northeast Ohio town from which it took its name and where GM built cars for 54 years.

Lordstown Motors (NASDAQ: RIDE), which began public trading last October following a merger with special purpose acquisition company...

https://www.freightwaves.com/news/reports-justice-department-investigating-lordstown-motors

Diana -C Transport Inks Time Charter Contract

Diana Shipping has entered into a time charter contract with C Transport Maritime Ltd., Bermuda, for one of its Capesize dry bulk vessels, the m/v Boston says a press release published in their company’s website.

The Company was reasonable when made because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these...

https://mfame.guru/diana-c-transport-inks-time-charter-contract/

Global Ship Lease To Add 12 Boxships To Its Fleet

Global Ship Lease, Inc. announced its agreement to purchase 12 containerships from Borealis Finance LLC with an average size of approximately 3,000 TEU, says a press release published in Global News Wire website. 

About the agreement

Global Ship Lease, Inc.(the “Company” or “Global Ship Lease”) announced that it has agreed to purchase 12 containerships from Borealis Finance LLC with an average size of approximately 3,000 TEU and a weighted average age of 11 years for an aggregate purchase price...

https://mfame.guru/global-ship-lease-to-add-12-boxships-to-its-fleet/

Performance Shipping Inc. Announces Filing of 2020 Annual Report on Form 20-F

Performance Shipping Inc. Announces Filing of 2020 Annual Report on Form 20-F

..

ATHENS, GREECE, March 5, 2021 – Performance Shipping Inc. (NASDAQ: PSHG), (the “Company”), a global shipping company specializing in the ownership of tankers, today announced that it has filed its 2020 Annual Report on Form 20-F for the fiscal year ended December 31, 2020, with the U.S. Securities and Exchange Commission. The Annual Report on Form 20-F, which contains the Company’s audited consolidated financial...

https://allaboutshipping.co.uk/2021/03/05/performance-shipping-inc-announces-filing-of-2020-annual-report-on-form-20-f/

Diana Shipping Inc. Enters Into Charter Contract With NYK Line

  • The gross charter rate is US$15,500 per day, minus a 5% commission paid to third parties, for a period until minimum January 25, 2022 up to maximum March 25, 2022.
  • As of today, the combined carrying capacity of the Company’s fleet, including the m/v Coronis and the m/v Sideris GS  is approximately 5.0 million dwt with a weighted average age of 10.17 years.
  • The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995
Diana...

https://mfame.guru/diana-shipping-inc-enters-into-charter-contract-with-nyk-line/

Trevor Milton can dump his Nikola stock on Monday — will he?

Nikola Motor Corp. (NASDAQ: NKLA) founder Trevor Milton no longer makes decisions for the startup electric truck maker. But he still wields significant influence. On Monday, he can sell his 91.6 million shares, about a quarter of all outstanding shares. What will he do?

Milton isn’t saying.

If he sells a large portion or all of his shares, the price of the already volatile stock likely would fall. A sudden glut could overwhelm the number of prospective buyers. 

“I can’t comment for Trevor,” Nikola...

https://s29755.pcdn.co/news/trevor-milton-can-dump-nikola-his-stock-on-monday-will-he

Lordstown Motors SPAC vote set amid unique business risks

Shareholders of a blank check company vote Oct. 22 on completing a reverse merger that would provide startup Lordstown Motors Corp. (LMC) twice as much money as it needs to retool a former General Motors plant to build a commercial fleet-focused electric pickup truck.

Diamond Peak Holdings Corp. (NASDAQ: DPHC) raised $780 million in an initial public offering (IPO) and through the sale of discounted shares. The full amount will transfer to LMC if the vote passes as expected. 

Since the proposed...

https://s29755.pcdn.co/news/lordstown-motors-spac-vote-set-amid-business-risks

News analysis: Evidence mounts that Nikola Badger is roadkill

The much-hyped Nikola Badger electric pickup looks like an endangered species. It is absent from the electric truck startup’s road map of milestones, and a delayed manufacturing deal with General Motors (NYSE: GM) points to its demise before a physical prototype is ever revealed.

The Badger was not in Nikola Corp.’s (NASDAQ: NKLA) business plan a year ago. And it isn’t there now. Founder Trevor Milton used it as a buzz-building tool for the company following the reveal of rival Tesla’s...

https://s29755.pcdn.co/news/news-analysis-evidence-mounts-that-nikola-badger-is-roadkill

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