Important Announcement
We are pleased to share that as of August 1, 2025, Braeden Anderson, the founder of Anderson P.C., has joined Gesmer Updegrove LLP as a Partner. Work currently performed by Anderson P.C. will be transitioning to Gesmer. This website will remain active as a curated archive for legal insights.
Gesmer Updegrove LLP, founded in 1986, is a nationally recognized law firm with a premier reputation for representing high-growth companies, innovative technology pioneers, and venture-backed startups. Together, we are enhancing our ability to provide comprehensive, end-to-end legal support to entrepreneurs, founders, investors, and scaling businesses across every stage of the corporate lifecycle. From formation, fundraising, and IP strategy to tax planning, M&A, securities compliance, enforcement defense, and strategic exits, our combined strengths now span the full spectrum of business law.
Thank you for following and supporting us on this journey. To learn more or to connect with Braeden or a member of the Gesmer team, please visit: www.gesmer.com or e-mail him at braeden.anderson@gesmer.com
SEC Charges BIT Mining with FCPA Violations in Connection with Bribery Scheme to Influence Members of Japanese Parliament
The Securities and Exchange Commission (SEC) has announced a significant enforcement action involving BIT Mining Ltd., formerly known as 500.com Limited, for violations of the Foreign Corrupt Practices Act (FCPA). The company has agreed to pay a $4 million civil penalty to resolve charges stemming from a bribery scheme that took place from 2017 to 2019. The scheme aimed to influence Japanese government officials, including members of Japan’s parliament, in an effort to establish an integrated resort and casino in the country.