PALO ALTO, Calif., March 13, 2026 (GLOBE NEWSWIRE) — Scilex Holding Company (“Scilex” or the “Company”) (Nasdaq: SCLX), an innovative revenue-generating company focused on acquiring, developing, and commercializing non-opioid pain management products for the treatment of acute and chronic pain and neurodegenerative and cardiometabolic disease, today announced that it has filed a complaint (the “Complaint”) in the United States District Court for the Central District of California against Marc Wade, The St. James Bank & Trust Company Ltd. (“St. James Bank”), Omega & Corinth Group Ltd., and related parties (collectively, the “Wade Defendants”), alleging a scheme involving the unauthorized transfer and sale of approximately 96 million Datavault AI, Inc. (“Datavault”) common shares (“DVLT”) that were pledged as collateral in a stock loan transaction (the…
This category refers to crimes committed by employees or insiders against their own organizations. It is often the most damaging because the perpetrator has authorized access to systems.
- Asset Misappropriation: The most common form, involving the theft of company resources. This ranges from simple “skimming” (taking cash before it’s recorded) to complex schemes involving the theft of inventory or intellectual property.
- Payroll Fraud: Employees may create “ghost employees” on the system, falsify their own timesheets to claim unworked overtime, or divert salary payments to their own accounts.
- Financial Statement Fraud: Management deliberately misrepresents the company’s financial health by inflating revenue or hiding liabilities to attract investors or meet performance bonuses.