Category: Charges

September 18, 2023 BY Elizabeth Anderson

Wells-Fargo executive escapes prison time

Tolstedt captained the retail and small business lending institution from 2007 to 2016 and became the only top Executive to face criminal charges. This occurred after the company’s forceful sales culture, which resulted in opening millions of accounts and selling products customers did not want, came to light.   Prosecutors in the case vied for a…

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Qantas Airline faces lawsuit over fraudulent flights
September 01, 2023 BY Elizabeth Anderson

Qantas Airline faces lawsuit over fraudulent flights

The crux is that these flight cancellations were typically due to circumstances that fell within the airline’s control, including re-routing, availability of landing and take-off runways in airports, and consumer demand.   In the court filing, the watchdog Australian Competition and Consumer Commission suggested that tickets remained available on various airline comparison sites and Qantas’ website…

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Visa under the DOJ microscope once again
August 17, 2023 BY Elizabeth Anderson

Visa under the DOJ microscope once again

A world leader in payments, the company now finds its policies regarding this tokenisation initiative under the DOJ microscope. Visa confirmed that the department’s antitrust arm requested information on US-based debit card practices in May 2023. When using tokenisation technology, those with sensitive card numbers can use a token to make payments. This token is…

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August 01, 2023 BY Alan Sayer

Richard Heart in hot water after SEC charges

On his website, Heart, also known as Richard Scheuler, proclaims himself as a kind of modern-age guru, with his products holding the answer to all political, economic, and social issues. He stated that: “I receive sincere thanks from multiple people every day for changing their life meaningfully. I’ve gotten thousands of people to stop gambling,…

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CFTC
April 24, 2023 BY Steffy Bogdanova

CFTC charges 14 FX dealer firms for fraudulent registrations claims

The US regulator seeks a cease-and-desist order against the firms from violations of the Commodity Exchange Act (CEA) and CFTC regulations. CFTC’s complaint detailed that these entities have claimed to be registered FCMs and RFEDs and members of NFA since January 2023. Twelve of the companies claim to have an identical NFA identification number and…

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OneCoin
March 22, 2023 BY Steffy Bogdanova

Crypto scam OneCoin’s head of compliance extradited and facing charges in the US

U.S. Attorney Damian Williams said: Irina Dilkinska, the supposed Head of Legal and Compliance for the OneCoin cryptocurrency pyramid scheme, accomplished the exact opposite of her job title and allegedly enabled OneCoin to launder millions of dollars of illegal proceeds through shell companies.  Dilkinska helped perpetuate a wide-ranging scheme with millions of victims and billions…

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CFTC
February 24, 2023 BY Steffy Bogdanova

CFTC issues charges in a $145 million Ponzi scheme

Additionally, between October 2020 and May 2022, at least 43 p[ool participants transferred around $470,780 to Yas Castellum LLC to participate in its supposed commodity pool after misrepresented historical trading records or how their funds were going to handled and traded. Furthermore, Brisco and Yas Castellum LLC, assisted by Sims, transferred the funds to entities…

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