SEC brings additional charges in multimillion dollar boiler room schemes LeapRate

September 25, 2019 BY Mariela Naydenova

SEC brings additional charges in multimillion dollar boiler room schemes

The SEC announced on September 23rd that it is bringing new charges in New York-based multimillion dollar boiler room schemes. The allegations state that Benjamin Conde arranged the manipulation of millions of shares of the company Renewable Energy and Power Inc., an action which resulted in generating $3.1 million in illegal proceeds. According to the SEC,…

September 09, 2019 BY Valentina Kirilova

Former director of Hudson Resources Limited charged with market manipulation

Australian regulator ASIC informed earlier today that following an investigation, the Former director of Hudson Resources Limited and Raffles Capital Limited, Benjamin Amzalak, has pleaded guilty to an offence of market manipulation. Amzalak, of Bondi, NSW, has been sentenced to 2 years of imprisonment. He took part in transactions that had the effect of creating…

September 04, 2019 BY Valentina Kirilova

ASIC cancels Platinum Perpetual Global Private Wealth's AFS licence

Australian regulator ASIC announced earlier today that it has cancelled the Australian financial services (AFS) licence of the company Platinum Perpetual Global Private Wealth Pty Ltd, based in Perth (AFSL 508415). The AFS licence was cancelled at the request of the company, following a separate action brought by Western Australian Police Force (WAPF), which has…

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

August 30, 2019 BY Valentina Kirilova

ANI Development LLC charged with defrauding approximately 50 retail investors

The Securities and Exchange Commission today announced that it has shut down $300 million fraud perpetrated by San Diego company ANI Development LLC and Its Principal, Gina Champion-Cain. According to the regulator, the company has defrauded approximately 50 retail investors. Back in 2012, ANI Development LLC fraudulently raised hundreds of millions of dollars from investors…

August 12, 2019 BY Valentina Kirilova

Belize regulator IFSC warns against OptimaFX Global Investment LTD.

Belize financial regulator IFSC has just issued a Warning Notice regarding a company called OptimaFX Global Investment LTD. The new entity is not licensed under the IFSC Act to provide, carry on, transact, or hold itself out as providing, carrying on, or transacting any of the international financial services as set out in the Schedule…

August 12, 2019 BY Valentina Kirilova

Lucrative Pips Corporation involved in a forex trading scheme, fined more than $2 million

The U.S. Commodity Futures Trading Commission (CFTC) has announced on Friday that the U.S. District Court for the Northern District of Georgia has ordered Kevin Andre Perry and Lucrative Pips Corporation to pay $694,799. The company has been charged with defrauding clients and misappropriating nearly $700,000 from more than 50 clients in a forex trading…

July 30, 2019 BY Valentina Kirilova

Principal of binary options trading firm fined $200,000 for illegal off-exchange trading

The U.S. Commodity Futures Trading Commission (CFTC) has informed the public yesterday that it has required Curtis Dalton of Middleton, Massachusetts to pay $200,000 for offering illegal off-exchange retail commodity transactions to U.S. and overseas customers while failing to be registered by the CFTC as required. Dalton offered transactions, which consisted of binary options in…

July 22, 2019 BY Valentina Kirilova

Two Israeli brothers arrested for crypto hacking of undetermined amounts

Two Israeli brothers, Eli and Assaf Gigi, 31 and 21 years of age, respectively, were arrested for alleged crypto thievery by authorities after an investigation that began in 2017. The strange thing about this case is that after a $1.7 million theft was confirmed, the two brothers, whether true or not, were soon implicated in…

July 22, 2019 BY Valentina Kirilova

Ex-Convoy Global Executive Directors and broker’s general manager charged with fraud

Hong Kong regulator SFC has announced earlier today that the ICAC has just charged five other individuals with conspiracy to defraud. This news comes right after the ICAC charged Mr Cho Kwai Chee, a former executive director of Convoy Global Holdings Limited (Convoy Global), formerly known as Convoy Financial Holdings Limited, with conspiracy to defraud…

July 16, 2019 BY Valentina Kirilova

Nomura pays misled bond clients $25m after SEC charges

The Securities and Exchange Commission (SEC) has yesterday informed the public that it has instituted two related enforcement actions against Nomura Securities International Inc. The Japanese financial holding company has agreed to repay approximately $25 million to customers for its failure to adequately supervise traders in mortgage-backed securities. Nomura bond traders made false and misleading…

Tag: fraud