CFTC charges ten people in a $4.75 million forex Ponzi scheme LeapRate

September 17, 2020 BY Steffy Bogdanova

CFTC charges ten people in a $4.75 million forex Ponzi scheme

According to the US watchdog, from February 2013 to present, the defendants accepted $4.75 million from more than 150 victims. Avinash Singh falsely claimed to be a successful commodities trader in order to solicit potential victims to participate in Highrise. Cologero, Hemraj Singh and Rosseau also misrepresented the profits the commodity pool had generated and…

September 16, 2020 BY Steffy Bogdanova

ukbondsprovider, Firstclass Bonds and others added to FCA's warning list

ukbondsprovider.com Address: 55 Basinghall St, London EC2V 5NB, UK Website: http://ukbondsprovider.com/ Firstclass Bonds Address: 1 Canada Square, London, E14 5AB Telephone: 020 8126 0796 Website: http://firstclass-bonds.com/ smartinvestmentsearch.com Address: 71-75 Shelton Street, Covent Garden, London WC2H 9JQ Telephone: 02036270956 Website: https://www.smartinvestmentsearch.com/ Pension Cash Solutions Address: Castle Hill House, 12 Castle, Windsor, SL4 1PD Telephone: 01753336385 Email:…

September 16, 2020 BY Steffy Bogdanova

ICO issuer Unikrn to pay $6.1 million to settle charges with SEC

Kristina Littman, Chief of the SEC Enforcement Division's Cyber Unit said: The securities registration and exemption framework is designed to ensure investor protection and access to material information, while also facilitating capital formation. Failure to follow this framework harms investors and our markets. This resolution allows us to return substantially all of Unikrn's assets to…

September 15, 2020 BY Steffy Bogdanova

Whistleblower receives more than $10million award from SEC

So far, the agency has awarded over $520 million to 94 individuals for their help since the first award was issued in 2012. Payment of the awards is taken out of an investor protection fund set up by Congress. It is financed through monetary sanctions of security law violations paid to SEC. To be eligible…

September 14, 2020 BY Steffy Bogdanova

SEC charges film producer Ryan Felton and rapper T.I. for fraudulent ICOs

T.I’s social media manager, William Sparks, Jr. allegedly offered and sold FLiK tokens on T.I.’s social media accounts and two other people based in Atlanta, Chance White and Owen Smith, promoted SPARK tokens without disclosing they were promised compensation in return. Carolyn M. Welshhans, Associate Director in the Division of Enforcement commented: The federal securities…

September 11, 2020 BY Steffy Bogdanova

New Zealand FMA finds Pegasus Markets and director guilty for financial registration abuse

The court found Pegasus guilty on charges for claiming to be registered and its director Reps for failing to prevent the company from committing the offence. Pegasus and Reps face significant fines of up to $300K for the company and either a $100K for Reps and/or 12 months’ imprisonment. The FMA will comment further on…

September 11, 2020 BY Steffy Bogdanova

Direct Loan UK, Sage Global and others added to FCA's warning list

Direct Loan UK (Clone of an FCA authorised firm) Telephone: 08006891586 Website: www.directloanuk.co.uk GCG International/Sage Global Address: The Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 969660 Telephone: +35220882857 Email: [email protected] Website: https://gcginternational.com Growing Power Loans Ltd (Clone of FCA authorised firm) Telephone: 03308180718, 0207 097 5306, 07411 360…

September 11, 2020 BY Steffy Bogdanova

Insider trader sent to prison for three years for trading in Big Un shares

Throughout the course of the investigation, Ho co-operated with ASIC, participated in voluntary interviews and provided documents. Ho also formally admitted to the offences and the facts regarding them. In recognition of this co-operation, Ho’s sentence was reduced by half. ASIC Deputy Chair Daniel Crennan QC commented: ASIC will take strong action against market misconduct…

September 10, 2020 BY Steffy Bogdanova

Investors who lost millions to Yieldstreet bring class action lawsuit

Michael Tecku, investor who lost a substantial amount of money in YieldStreet, said: The dream of YieldStreet was beautiful, but the reality is a nightmare. These investments were marketed as low risk asset-backed institutional investments run by experts with reasonable returns, but the truth is, there are no experts and there is no institution. It’s…

September 09, 2020 BY Steffy Bogdanova

Capital Way/Eastridge Capital, HeadWay Capital and others added to FCA's warning list

Capital Way/Eastridge Capital Address: Trust company complex, Ajeltake Island, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 Telephone: +44 (0) 203 318 4938; +47 21 40 0133; +49 3222 9990 062; +81 345 799 520; +46 107 502 363; +61 283 116 655; +353 766 042 739; +34 518 899 144; +45 787 242…

Category: Financial Services