One of the reasons for the rise is that scammers are capitalising on the interest in the cryptocurrency market, with more than half of the $70 million loss due to crypto scams and 2,240 of the 4,763 reports put down to crypto scammers. ACCC Deputy Chair, Delia Rickard, warned: Be wary of investment opportunities with…
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The official complaint released on the CFTC website claims that from around October 2019 up until the past few months, the accused utilised a number of social media platforms and websites in order to falsely market their forex trading pool as an alternative to a savings account which provided a larger yield with minimal risk.…
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Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit, stated: Loci and its CEO misled investors regarding critical aspects of Loci’s business. Investors in digital asset securities are entitled to truthful information and fulsome disclosures so they can make informed investment decisions. Although Wise and his company have neither admitted to nor denied the…
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The SEC stated in its report regarding the second charge: Radjabli allegedly generated $162,800 in illicit profits on the resulting increase in Veritone’s stock price by trading Veritone securities on behalf of Apis Capital and an affiliated fund. The third fraud that Radjabli has now been charged with consisted of yet another fraudulent scheme regarding…
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The ACCC said in the report: It is not surprising that in 2020, 25% of all scam reports involved the loss of personal information, up from 16% in 2019. Loss of personal information was even higher among Indigenous consumers, where 36% of all scam reports involved the loss of personal information. The increasing value of…
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The CFTC now claims that these worst-case scenarios were in fact not based on historical scenarios at all and that LJM’s legitimate internal historical scenarios displayed losses far greater than 40% for each strategy. The complaint goes on to allege that around the tail-end of 2017 through to February 2018, LJM dramatically deviated from its…
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Botvinnik did not admit or deny the allegations the SEC made but consented to the final judgment. He was ordered to pay civil penalty of $160,000, disgorgement of $1,140,996.48, and $208,155.86 in prejudgment interest. The official announcement stated that the SEC may suggest a plan to distribute any funds received from Botvinnik to harmed investors.…
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The Singapore watchdog found that Ahmadnawar solicited investments from 32 individuals from 2015 to 2017. He drew up contracts to manage the money from his investors and foreign exchange on their behalf. MAS noted that he carried out these fund management operations without holding a capital markets services licence. During the same period, Ahmadnawar also…
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It has been suggested that upon market opening, at 8:30 am that day, Westpac traders obtained and then disposed of interest rate derivatives in an attempt to pre-position the company leading up to the confirmation of the swap transaction. Westpac allegedly held the above transaction knowledge when all of this took place, and that this…
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The suspects were identified by the initials MKY, BK, C.Ö., VS, SE and RE. It was reported that two of them, VS and C.Ö., worked with the others in providing information and technical support to the complainant companies. Because of the intervention in the accounting and information systems the two suspects conducted, it took a…
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