Category: Ponzi scheme

CFTC
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…

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fma warning
December 11, 2019 BY Valentina Kirilova

New Zealand FMA adds Orion Holdings Capital Management and OH Capital to its warning list

New Zealand Financial Markets Authority (FMA) has recently added another name to its list of unregulated firms. The latest additions are the companies Orion Holdings Capital Management and OH Capital. The regulator recommends exercising caution before dealing with Orion Holdings Capital Management (OHCM), OH Capital and their websites www.ohcmgmt.com, and https://ohcapital.com/. The business address in…

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Woodbridge Group of Companies LLC and former owner Robert H. Shapiro fined $1 billion
December 18, 2018 BY Valentina Kirilova

Blue Star Trading and owner charged with ongoing forex and commodity fraud

The Commodity Futures Trading Commission (CFTC) has just announced that it has filed a complaint against Dro Kholamian and his company, Blue Star Trading, LLC. Blue Star Trading has fraudulently solicited potential clients to trade through accounts they would manage leveraged off-exchange FX currency and commodity futures contracts, but instead the company has misappropriated those funds. According to CFTC, Kholamian…

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Another warning against OneCoin Limited, this time from New Zealand FMA
December 12, 2018 BY Valentina Kirilova

Another warning against OneCoin Limited, this time from New Zealand FMA

The Financial Markets Authority (FMA) has just issued a public warning against a scam company called OneCoin Limited. OneLife Network Limited and OneCoin Limited Trading name: OneLife, OneCoin Address: OneLife Network Limited, 2118 Guava Street, Belama Phase I, Belize City, Belize OneCoin Limited, 6a “P. R. Slaveykov” Sqr., Sofia 1000, Republic of Bulgaria Website: www.onelife.eu,…

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Woodbridge Group of Companies LLC and former owner Robert H. Shapiro fined $1 billion
September 20, 2018 BY Valentina Kirilova

SEC shuts down $345 million ponzi scheme

The Securities and Exchange Commission (SEC) has announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than $345 million from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze and the appointment of a receiver. A SEC complaint unsealed yesterday alleges that Kevin B.…

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June 20, 2018 BY Valentina Kirilova

SEC shuts down $102 million ponzi scheme

The Securities and Exchange Commission (SEC) has announced that it has filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S. According to the SEC’s complaint, the defendants defrauded more than 600 investors through sales of securities in issuers they controlled,…

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May 02, 2018 BY Valentina Kirilova

SEC shuts down $85 million ponzi scheme

The Securities and Exchange Commission (SEC) announced the unsealing of fraud charges against a Mississippi company and its principal who allegedly bilked at least 150 investors in an $85 million Ponzi scheme. The defendants agreed to permanent injunctions, an asset freeze, and expedited discovery. The SEC’s complaint alleges that Arthur Lamar Adams lied to investors…

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