The Australian Securities and Investments Commission (ASIC) announced that it has permanently banned financial adviser Ezzat-Daniel Nesseim from providing financial services. ASIC found that Mr Nesseim engaged in misleading and deceptive conduct, that he was not of good fame or character, and that he was likely to contravene a financial services law. In the course…
Read moreThe U.S. Commodity Futures Trading Commission (CFTC) has announced that Judge Esther Salas of the U.S. District Court for the District of New Jersey has entered an Order of default judgment and permanent injunction against Alcibiades Cifuentes and Jennifer Wee Cifuentes, both of West New York, New Jersey, and their corporate entity, Cifuentes Fund Management, LLC. The Order,…
Read moreThe U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a federal civil enforcement action in the U.S. District Court for the Western District of Texas against Defendant Charles H. McAllister, of Auburn, Alabama, charging him with fraud and misappropriation in connection with contracts of sale of precious metals through his company, BullionDirect, Inc.…
Read moreThe U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action charging Defendants Michael Salerno of Chadds Ford, Pennsylvania, and his companies Black Diamond Forex LP and BDF Trading LP, both Pennsylvania limited partnerships, and Advanta FX, a Pennsylvania corporation, with fraudulently soliciting members of the public to become foreign currency (forex) proprietary traders and…
Read moreAustralia’s government is shocked by bank wrongdoing, as AMP Ltd. (ASX:AMP) has deliberately misled regulators over charging customers for services they didn’t receive. Meanwhile Commonwealth Bank of Australia (ASX:CBA) has collected fees from dead people, in one case for more than a decade, Bloomberg has informed earlier. AMP Chief Executive Officer Craig Meller announced that…
Read moreThe US Department of Justice has announced that a three-count indictment was unsealed yesterday (see below) in federal court in charging Blake Kantor, also known as “Bill Gordon,” with conspiracy to commit wire fraud, obstruction of an official proceeding and making false statements to Special Agents of the FBI. Kantor was arrested by federal authorities yesterday and…
Read morePan-Europe financial regulator The European Securities and Markets Authority (ESMA) has announced that it has been informed of an individual operating under the name “Edward Stewart”, using ESMA’s identity and logo. This individual is presenting himself as an employee of ESMA conducting investigations in order to steal personal data and convince the potential victims to transfer…
Read moreThe U.S. Commodity Futures Trading Commission (CFTC) announced that it has filed a civil enforcement action in the U.S. District Court for the Southern District of New York against Defendants Kevin P. Whylie of Mamaroneck, New York; Matthew James Zecchini of East Islip, New York; and Algointeractive Inc, a New York corporation owned and controlled by Whylie and Zecchini.…
Read moreThe U.S. Securities and Exchange Commission (SEC) has issued an Investor Alert warning investors of fraudsters claiming to be SEC employees in an attempt to trick investors into sending money or revealing sensitive account information. The alert makes clear that the SEC does not contact investors to confirm trades, set up trading accounts, or record the details…
Read moreWe have received a formal statement from legal representatives of Michael Liberty, in response to SEC charges announced yesterday against Michael Liberty of a $48 million investor fraud. Jay Dubow, Esq. Pepper Hamilton LLP Philadelphia, PA 215-981-4713 [email protected] April 2, 2018 Reference: SEC Case 2:18-cv-00139-DBH Filed 3/30/2018 US District Court, District of Maine STATEMENT ON…
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