The Securities and Exchange Commission (SEC) has informed the public that it has charged a Dallas-based oil-and-gas company and two of its executives with defrauding investors out of at least $950,000 through a string of fraudulent oil-and-gas securities offerings. The SEC’s complaint, which was filed yesterday in federal court in the Northern District of Texas,…
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ASIC informed the public that it has commenced civil penalty proceedings in the Federal Court of Australia against Antares Energy Limited ('Antares') and one of its directors, former CEO and Chairman James Cruickshank regarding Antares' announcements made in September 2015 about the proposed sale of its oil and gas interests in the Permian Basin of…
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The Court of First Instance has ordered Starlight Culture Entertainment Group Limited’s (Starlight) former chairman Mr Tong Shek Lun and two former executive directors, Ms Kinny Ko Lai King and Ms Regina Chung Wai Yu, to pay a sum of US$890,241.37 as compensation to Starlight following findings of misconduct in connection with their handling of…
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The Financial Markets Authority (FMA) announced that it has filed criminal charges against a company and its New Zealand-based director for breaching the Financial Service Providers (Registration and Dispute Resolution) Act (FSP Act). The company is charged with two counts of breaching section 12 of the FSP Act. The New Zealand-based director is charged with…
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The Court of First Instance (CFI) announced that it has granted orders sought by the Hong Kong Securities and Futures Commission (SFC) in its proceedings against Qunxing Paper Holdings Company Limited (Qunxing), its former chairman and vice-chairman – Mr Zhu Yu Guo and his son, Mr Zhu Mo Qun – as well as its subsidiary…
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Ms Lorraine Bullock of Croydon, Victoria has pleaded guilty to dishonestly using her position as a director to fraudulently remove company property, ASIC announced earlier. Ms Bullock, a former director of Twently12 Pty Ltd operated a liquor store in Healesville, Victoria. An ASIC investigation found that soon after the appointment of the liquidator to the…
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The Ontario Securities Commission (OSC) announced today that Marc and Helene Brunet of Chesterville, Ontario, have been charged with fraud and related offences under the Securities Act (Ontario) following a lengthy investigation by the OSC’s Joint Serious Offences Team (JSOT). Mr. Brunet and Mrs. Brunet have both been charged with the following offences under the…
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Samrat Bhandari, who played a prime role in the operation of an investment scheme which led to investors losing just over £1.4 million, was today sentenced at Southwark Crown Court to a total of 3½ years’ imprisonment, the FCA just announced. He was also disqualified from holding the position of director for 12 years. In…
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ASIC announced that it has today commenced legal proceedings in the Federal Court in Melbourne against the Commonwealth Bank of Australia (CBA) for unconscionable conduct and market manipulation in relation to CBA's involvement in setting the bank bill swap reference rate (BBSW) between 31 January 2012 and October 2012. The BBSW is the primary interest…
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The High Court today informed that it has found that the Securities Commission Malaysia (SC) had successfully proven an insider trading case against Chan Soon Huat, a former founder and director of WCT Bhd (WCT). In the suit that was filed in 2015, the SC claimed that Chan had breached section 188(2)(a) of the Capital…
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