Freedom Holding, a Kazakh financial firm traded on Nasdaq, is currently being investigated by federal prosecutors and the Securities and Exchange Commission (SEC) over compliance issues, insider stock trading, and ties to sanctioned individuals, according to CNBC sources and documents. The SEC’s Boston office has been investigating Freedom for several months, while the US Attorney’s Office for Massachusetts has also made preliminary inquiries. The investigations focus on the firm’s internal controls, offshore operations, and CEO Timur Turlov’s claims about providing Russian clients access to US IPOs. Neither the SEC nor the Justice Department commented. These probes were intensified after reports from short sellers Hindenburg Research and Citron Research.
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