Search Results for: defraud investors
Charges against a $1.2 billion Ponzi scheme targeting thousands of investors
December 22nd, 2017
The Securities and Exchange Commission today announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme. SEC ...
U.S. Regulator is monitoring the impact of Hurricane Irma on investors and capital markets
September 14th, 2017
The Securities and Exchange Commission is closely monitoring of the impact of Hurricane Irma on investors and capital markets, and continues to monitor the impacts of Hurricane Harvey. “As we are doing in areas affected by Hurricane Harvey, the ...
Cold calling scams defrauded more than one hundred victims
July 13th, 2017
SEC Announces Charges in Massive Telemarketing Boiler Room Scheme Targeting Seniors The Securities and Exchange Commission today brought fraud charges against 13 individuals allegedly involved in two Long Island-based cold calling scams that bilked more than one hundred victims ...
100 investors lost more than $15 million in stock fraud
March 27th, 2017
The office of the U.S. Attorney for the Southern District of New York has issued an announcement to inform that investment adviser and broker found guilty in Manhattan Federal Court of securities fraud, wire fraud, conspiracy and aggravated identity ...
Brokers used in-and-out trading strategy to defraud customers
January 10th, 2017
The Securities and Exchange Commission today charged two New York-based brokers with fraudulently using an in-and-out trading strategy that was unsuitable for customers in order to generate hefty commissions for themselves. The SEC’s complaint alleges that Gregory T. Dean ...
ISA Israel: iTrader financial firm’s managers and some employees defrauded traders
November 14th, 2016
Senior iTrader executives were arrested on suspicion of aggravated fraud, securities violations, and other crimes. Managers at the iTrader trading firm and some of its employees were part of a well-oiled and organized machine for defrauding and abusing clients ...
Fake Bitcoin Investment scam defrauded over 1,000 people
March 24th, 2016
A Taiwanese couple seems to have managed to con at least a thousand people by luring them to invest into a fake bitcoin-based investment scheme. This couple reportedly orchestrated the whole program by using two well-known instant messaging applications ...
GemCoin Investors Seek $100 Million in Class Action Lawsuit
October 9th, 2015
An $100m class action lawsuit has been filed on behalf of victims of an alleged Ponzi scheme involving the fake cryptocurrency ‘Gemcoin’ days after a US Securities and Exchange Commission (SEC) crackdown. The complaint, filed Monday by The Liu Law Group ...
SFC recovers $190 million for investors of collapsed hedge fund
May 7th, 2015
The Securities and Futures Commission (SFC) today resolved proceedings involving the Descartes Athena Fund SPC (the Athena Fund), paving the way for about 340 overseas investors allegedly defrauded by the collapsed private hedge fund to recoup part of their ...
BofA Investors Say Settlement Reached in Forex Class Action
April 17th, 2015
Bank of America Corp. investors say they’ve settled a lawsuit accusing the company of rigging prices in the foreign-exchange market. The investors, several pension and hedge funds, didn’t reveal how much the bank would pay in a statement Thursday ...
