Tag: fraud

April 30, 2018 BY Valentina Kirilova

OSC charges two individuals with securities act offences

The Ontario Securities Commission (OSC) has announced that Douglas DeBoer of Ancaster, Ontario and Leonard Lodder of Guelph, Ontario, have been charged with fraud and related offences under the Securities Act (Ontario) following a lengthy investigation by the OSC’s Joint Serious Offences Team (JSOT). DeBoer has been charged with the following offences under the Securities…

Read more
April 20, 2018 BY Valentina Kirilova

Chairman of Australia’s largest wealth manager resigns following lying and overcharging scandal

Australia’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 more
ICO fraud
February 05, 2018 BY Valentina Kirilova

SEC halts ongoing fraud by purported hedge fund manager

The Securities and Exchange Commission (SEC) informed that it has charged a purported hedge fund manager in New York City with a brazen offering and investment adviser fraud thereby putting an end to an ongoing scheme. The SEC alleges that, since at least 2014, Nicholas Joseph Genovese and his hedge fund Willow Creek Investments LP…

Read more
ICO fraud
December 05, 2017 BY LeapRate Staff

Digital display advertising firm Digi Outdoor Media Inc. and executives charged with multi million dollar fraud

The U.S. Securities and Exchange Commission has announced charges against a Seattle-area outdoor digital signage advertising company and two of its senior executives, over the theft of more than $2 million from retail investors. According to the SEC’s complaint filed in U.S. District Court in Seattle, Digi Outdoor Media Inc.’s former chief executive officer Donald…

Read more
UN report says North Korea laundered $2 billion theft via Hong Kong firm
April 25, 2017 BY Valentina Kirilova

SEC charges portfolio manager with diverting nearly $2 million to personal account

The Securities and Exchange Commission (SEC) announced fraud charges against a Massachusetts-based portfolio manager accused of diverting at least $1.95 million to his personal brokerage account from a fund over which he had trading authority. The SEC’s complaint alleges that Kevin J. Amell carried out a fraudulent matched-trades scheme in which he prearranged the purchase…

Read more
December 19, 2016 BY LeapRate Staff

SEC charges Platinum Funds founder Mark Nordlicht with defrauding investors

The U.S. Securities and Exchange Commission (SEC) today charged the founder of Platinum Partners Mark Nordlicht (pictured above, with former managing general partner Uri Landesman) and two of Platinum's flagship hedge fund advisory firms with conducting a fraudulent scheme to inflate asset values and illicitly move investor money to cover losses and liquidity problems. SEC…

Read more
October 01, 2016 BY Mike Fox

CFTC charges "Live Trade Room" SchoolofTrade.com for fraudulently marketing futures trading strategies

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil anti-fraud enforcement action in the U.S. District Court for the Central District of California charging Defendants Joseph Dufresne (a/k/a Joseph James) and Megan Renkow (a/k/a Megan James), both of Palos Verdes Estates, California, and their company, United Business Servicing, Inc. (UBS), doing business as SchoolofTrade.com…

Read more
September 22, 2016 BY Mike Fox

CFTC charges All City Investments which showed fraudulent 2,675% growth in FX trading

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U.S. District Court for the Southern District of New York against Defendants Jamal Y. Vance and All City Investments, LLC (All City), charging Defendants with solicitation fraud in connection with off-exchange Forex transactions and with failure to register as Commodity Trading Advisors (CTAs) with the…

Read more
August 17, 2016 BY Mike Fox

CFTC charges Las Vegas-based TradeMasters USA, LLC for fraudulently soliciting $155K

The U.S. Commodity Futures Trading Commission (CFTC) today announced that it filed a civil enforcement action in the U.S. District Court for the District of Nevada charging Mirko “Mick” Schacke of Antioch, California, and his company, TradeMasters USA, LLC (https://www.trademastersusa.com), of Las Vegas, Nevada (the Defendants) with fraud and failing to register with the CFTC, as…

Read more