Draven LLC and owner Derek Springfield banned and fined in multi million dollar Forex fraud LeapRate

November 13, 2017 BY LeapRate Staff

Draven LLC and owner Derek Springfield banned and fined in multi million dollar Forex fraud

The U.S. Commodity Futures Trading Commission (CFTC) has announced that Judge David G. Campbell of U.S. District Court for the District of Arizona entered a Consent Order against Defendants Derek Springfield and his company, Draven, LLC (Draven), both of Mesa, Arizona finding that they fraudulently solicited and received at least $1.8 million from approximately 112 commodity pool participants in…

November 10, 2017 BY Valentina Kirilova

US Department of Justice compensates victims of Bernard Madoff fraud scheme

The Department of Justice today announced that on November 9, the Madoff Victim Fund (MVF) began its initial distribution of $772.5 million in funds forfeited to the U.S. Government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme. These funds will be sent to 24,631 victims across the globe. This distribution…

November 09, 2017 BY Valentina Kirilova

Court of Appeal upholds SFC’s case of insider dealing and fraud against solicitors

The Court of Appeal has today upheld the decision of the Court of First Instance (CFI) which had ruled in favour of an insider dealing and fraud case brought by the Hong Kong Securities and Futures Commission (SFC) against two solicitors – Ms Betty Young Bik Fung and Mr Eric Lee Kwok Wa – and…

November 06, 2017 BY LeapRate Staff

Australia consumer watchdog warns of sports investment and betting scams on Melbourne Cup Day

Australia's consumer watchdog Australian Competition and Consumer Commission (ACCC) has issued a warning for 'Punters' to watch out for betting and sports investment scams which falsely promise high odds and big returns on the annual Melbourne Cup Day. Melbourne Cup Day is Australia’s best known horse racing event, held on the first Tuesday of November every…

UN report says North Korea laundered $2 billion theft via Hong Kong firm

November 01, 2017 BY Valentina Kirilova

MAS issues prohibition orders against individuals involved in 1MDB-related breaches

The Monetary Authority of Singapore (MAS) announced today that it has issued Prohibition Orders (POs) against Mr Ang Wee Keng Kelvin and Mr Lee Chee Waiy. MAS has also served notice of its intention to issue a PO against Mr Yeo Jiawei. Mr Kelvin Ang and Mr Lee Chee Waiy Further to its announcement on…

Securities and Exchange Commission proposes Transaction Fee Pilot for NMS Stocks

October 30, 2017 BY Valentina Kirilova

Day trader Joseph P. Willner charged in brokerage account takeover scheme

The Securities and Exchange Commission (SEC) informed that it has charged a day trader based in the Philadelphia area with participating in a scheme to access the brokerage accounts of more than 100 unwitting victims and make unauthorized trades to artificially affect the stock prices of various companies. The SEC alleges that Joseph P. Willner…

October 25, 2017 BY LeapRate Staff

Apollo Management former senior partner Mohammed Ali Rashid charged with secretly billing clients for personal expenses

The U.S. Securities and Exchange Commission has announced charges against Mohammed Ali Rashid, a former senior partner at Apollo Management L.P., for defrauding his fund clients by secretly billing them for approximately $290,000 in personal expenditures. Mr. Rashid is charged with using client funds for family vacations, visits to a hair salon, and purchases of…

October 05, 2017 BY LeapRate Staff

SEC charges Michael Scronic with multi million dollar options investment ponzi scheme fraud

The U.S. Securities and Exchange Commission today charged a Westchester, New York-based investment adviser with fraud stemming from lies to retail investors about the value of their investments in a Ponzi-like scheme. The SEC alleges that, starting in approximately 2010, Michael Scronic began to raise money from at least 42 friends and acquaintances, many of…

October 03, 2017 BY LeapRate Staff

SEC charges Rockey Hatfield as a repeat offender in penny stock fraud

The U.S. Securities and Exchange Commission today charged two individuals with defrauding investors in penny stock companies that claimed to have valuable patents. One of those charged had been barred from the penny stock business based on his role in another securities scheme and neither he nor his companies had ever been issued any patents…

Category: Fraud

Draven LLC and owner Derek Springfield banned and fined in multi million dollar Forex fraud

US Department of Justice compensates victims of Bernard Madoff fraud scheme

Court of Appeal upholds SFC’s case of insider dealing and fraud against solicitors

Australia consumer watchdog warns of sports investment and betting scams on Melbourne Cup Day

MAS issues prohibition orders against individuals involved in 1MDB-related breaches

Day trader Joseph P. Willner charged in brokerage account takeover scheme

Apollo Management former senior partner Mohammed Ali Rashid charged with secretly billing clients for personal expenses

SEC charges Michael Scronic with multi million dollar options investment ponzi scheme fraud

SEC charges Rockey Hatfield as a repeat offender in penny stock fraud

Alphabet Pays The First Dividend In Its History

Gold Price Holds Steady While US GDP Shakes Up Dollar

Stellantis Says Limiting Petrol Car Sales Will Hurt UK Economy

Biogen Reaps Profits On The Back Of Cost Cuts

Ford Beats Q1 Estimates