Search Results for: Fraud
Swiss bank UBS to appeal after fined 4.5 billion euros in French tax fraud case
February 21st, 2019
A French court found Swiss bank UBS AG guilty of illegally soliciting clients and laundering the proceeds of tax evasion, ordering it to pay 4.5 billion euros ($5.1 billion) in penalties. Shares in the Swiss bank fell as much ...
Founder of online gaming company charged for defrauding investors
February 11th, 2019
The Securities and Exchange Commission (SEC) charged Robert Alexander with fraudulently raising approximately $9 million from more than 50 individuals by selling investments in Kizzang LLC, a purported online gaming business. According to the SEC’s complaint, among other misrepresentations, Alexander ...
Cyprus Securities and Exchange Commission: Beware of fraudulent emails
February 1st, 2019
The Cyprus Securities and Exchange Commission (CySEC) has issued an announcement to inform the public that emails are being sent by unidentified sources, illegally using the logo or the name of CySEC to seek payment of so-called outstanding sums ...
Europe bets on bug bounties in fraud fight
January 8th, 2019
The European Commission (EC) is beginning the new year with a major commitment to fight fraud – and is turning to the world of white hat hackers to help them do it, reports David Penn at Finovate. The EC ...
Forex trading firm ordered to pay millions for fraudulent Forex pool scheme
December 27th, 2018
The Commodity Futures Trading Commission (CFTC) announced that on December 7, a federal court ordered New York firm Wright Time Capital Group LLC (d/b/a Global FX Club) (WTCG) to pay more than $1.48 million in civil monetary penalties and ...
Alert! Cryptocurrency fraudsters are using cryptocurrencies to swindle consumers
December 19th, 2018
The Financial Services and Markets Authority (FSMA), an autonomous public institution that supervises the Belgian financial sector, has issued a warning to inform consumers for cryptocurrency fraud. In accordance the warning, despite its earlier warnings, the FSMA continues to ...
Individual and Company charged with ongoing Forex and Commodity fraud
December 18th, 2018
The Commodity Futures Trading Commission (CFTC) has issued an announcement to inform about the filling of a civil enforcement action against an individual and his Illinois limited liability company for ongoing Forex and Commodity fraud. In accordance the announcement ...
Penalty of $11 Million imposed for fraudulent commodity pool trading schemes
December 11th, 2018
The Commodity Futures Trading Commission (CFTC) announced an Order of default judgment and permanent injunction has been issued against defendants Scott Allensworth (d/b/a Capital Growth Group Associates and Cobra Development Group LLP), of Newhall, California, and his California company ...
Individual sentenced to 5 years’ imprisonment for defrauding investors
December 3rd, 2018
The Financial Conduct Authority (FCA) has issued a press release to inform that an individual sentenced to 5 years’ imprisonment in FCA prosecution of £3m investment fraud. In accordance the FCA’s press release, Mark Barry Starling, aged 57 of ...
CySEC: Be aware of fraudulent representation of CySEC officers
November 26th, 2018
The Cyprus Securities and Exchange Commission (CySEC), has issued today an announcement to warn about fraudulent representation of CySEC officers. In accordance CySEC’s announcement, a number of market participants have informed the CySEC about the fraudulent representation of CySEC ...
