The Commodity Futures Trading Commission (CFTC or Commission) has announced that it has filed a civil enforcement action in the U.S. District Court for the Eastern District of New York, charging Yehuda L. Belsky of Brooklyn, New York, and his firm Y Trading, LLC (Y Trading) with solicitation fraud in connection with binary options trading.…
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Australian regulator ASIC has announced that it has taken action to stop several proposed initial coin offerings or token-generation events (together, ICOs), targeting retail investors. ASIC has recently stopped the issue of a Product Disclosure Statement for a crypto-asset managed investment scheme. Consistent problems identified by ASIC are: the use of misleading or deceptive statements…
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The Securities and Exchange Commission (SEC) has announced that SeaWorld Entertainment Inc. and its former CEO have agreed to pay more than $5 million to settle fraud charges for misleading investors about the impact the documentary film Blackfish had on the company’s reputation and business. SeaWorld’s former vice president of communications also agreed to settle…
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The Monetary Authority of Singapore (MAS) has informed the public that a fraudulent website has been soliciting investments in Bitcoins using fabricated comments attributed to MAS Chairman and Deputy Prime Minister, Tharman Shanmugaratnam. The name of the website is positivebathhour.com / gulfweedcrab.com and the website’s article on Bitcoins is highly deceptive and misleading. The statements attributed to…
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The Securities and Exchange Commission (SEC) has informed the public that it has charged two brokers for recommending excessive levels of trading that were costly for retail customers but lucrative for the brokers. In separate complaints filed in federal court in Manhattan on Friday, the SEC alleges that Florida resident Emil Botvinnik and New York…
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The Securities and Exchange Commission (SEC) has announced that it has charged a group of 10 individuals and 10 associated entities for their participation in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left holding virtually worthless stock. According to the SEC’s…
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The Securities and Exchange Commission (SEC) has announced that it has charged the founder of San Francisco-based venture capital funds and his investment advisory firm with overcharging investors to fund personal projects, including sending millions of dollars to his own virtual reality production company. The SEC’s complaint alleges that Michael B. Rothenberg, 34, marketed his…
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Two former senior bankers have been convicted for manipulating the Euro Interbank Offered Rate (EURIBOR) at the height of the financial crisis following an investigation and prosecution brought by the Serious Fraud Office. Phillipe Moryoussef, formerly of Barclays Bank, was found guilty on 29th June 2018 by a jury. The conviction follows a guilty plea…
Read moreThe U.S. Commodity Futures Trading Commission (CFTC) has announced that the Honorable Gloria M. Navarro of the U.S. District Court for the District of Nevada (Las Vegas) entered an Order of Summary Judgment against Defendant Mirko (Mick) Schacke of Brentwood, California (formerly Antioch, California), and a Default Judgment against Schacke’s company, TradeMasters USA, LLC of Las Vegas, Nevada. The…
Read moreCoinbase is the considered the "darling" of the crypto world. One of the biggest cryptocurrency wallets and exchanges in the world has recently expanded its portfolio of products and is going to Ethereum Classic in addition to the other digital assets it already offers such as Bitcoin and Litecoin. However, some Coinbase users have recently…
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