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Retail FX

UK Court Finds Boss of FX Scheme CWM Guilty of £70M Fraud

  • Anthony Constantinou fled during the trial period, the prosecutor said.
  • The former Managing Director was sentenced in absence.
by Solomon Oladipupo
CryptoCurrency

US Prosecutors Charge New Suspect in $45M Blockchain Fraud ‘CoinDeal’

  • Bryan Lee faces up to 20 years in prison for wire and mail fraud.
  • Previously, the US SEC charged mastermind Neil Chandran and other four individuals.
by Solomon Oladipupo
Retail FX

South African CEO to Pay $3.4 Billion for Forex Fraud

  • The CEO defrauded investors worldwide of 30K BTC between 2018 and 2021.
  • US derivatives watchdog charged Cornelius Steynberg in July last year.
by Solomon Oladipupo
CryptoCurrency

US Man Pleads Guilty to Defrauding Banks and "Leading Crypto Exchange" of over $4M

  • Esteban Da Corte committed the crime around March 2020, prosecutors say.
  • The Miami man and his crew used fake ID information for the scheme.
by Solomon Oladipupo
Retail FX

European Authorities Arrest 5 in €89M Online Investment Fraud Case

  • Germany, Bulgaria, Romania, Georgia and Israel investigated the case alongside Europol.
  • Previously, authorities took down the criminal ring in 2021.
by Solomon Oladipupo
Retail FX

Consob Blocked 855 Illegal Trading Platforms in 3 Years, Ads 5 More

  • Italy's Consob has been effectively blocking illegal trading websites since 2019.
  • To date, the supervisor has been able to halt 855 of them.
by Damian Chmiel
CryptoCurrency

US Regulators Charge FTX’s Senior Executive Nishad Singh with Fraud

  • Associates Caroline Elison and Gary Wang pleaded guilty in December last year.
  • Samuel Bankman-Fried pleaded not guilty to eight count charges in early January.
by Solomon Oladipupo
CryptoCurrency

Document Says OneCoin Founder Ruja Ignatova ‘Killed’ in 2018 in Greece

  • Ignatova disappeared from the public scene in 2017.
  • Sebastian Greenwood, OneCoin Co-Founder, is to be sentenced in April this year.
by Solomon Oladipupo
FinTech

US Pays $115M to 40K Victims of Fraud Scheme Processed by MoneyGram

  • MoneyGram paid $125 million in 2018 for the refund.
  • The American money transfer company entered a DPA with the Justice Department in 2012.
by Solomon Oladipupo
CryptoCurrency

OneCoin Founder Ruja Ignatova Is Back after 5 Years in Hiding

  • The founder of the cryptocurrency scam was last seen in October 2017.
  • OneCoin defrauded investors of $5 billion in cryptocurrencies and cash.
by Damian Chmiel
CryptoCurrency

US Charges Bitzlato Founder with Processing $700M in Crypto for Criminals

  • Anatoly Legkodymov was arrested on Tuesday night in Miami.
  • The DOJ accused Legkodymov of involvement with Hydra Marketplace Criminals.
by Solomon Oladipupo
CryptoCurrency

New York Charges Celsius Network's Co-Founder Alex Mashinksy with Fraud

  • The New York Attorney General said Mashinsky left many investors in "financial ruin."
  • Celsius Network filed for bankruptcy in July last year.
by Solomon Oladipupo
CryptoCurrency

OneCoin's Co-Founder Karl Greenwood Pleads Guilty to Wire Fraud

  • Greenwood, who was arrested in Thailand in 2018, is to be sentenced next year.
  • Co-Founder Ruja Ignatova, the 'Cryptoqueen', remains at large.
by Solomon Oladipupo
Institutional FX

CySEC Warns against Impersonating Officers, Fake Websites

  • The regulator detected five new rogue websites.
  • CySEC issued a similar warning in April.
by Solomon Oladipupo
Regulation

Oracle to Pay $23M to Settle Bribery Charges against Asian Subsidiaries

  • The US SEC fingered Oracle's subsidiaries in Turkey, UAE and India in its investigation.
  • The regulator penalized Oracle $2 million in 2012 for the same offence.
by Solomon Oladipupo
Retail FX

US SEC Charges 18 for Hacking Retail Brokerage Accounts to Buy Microcap Stocks

  • The individuals gained over $1 million in illicit profit from the unauthorized purchases.
  • The SEC described the cross-border scheme as 'brazen and sophisticated'.
by Solomon Oladipupo
CryptoCurrency

US SEC Charges 4 Co-founders, 7 Others in $300M Crypto Pyramid Scheme

  • The co-founders were based in Russia, Georgia and Indonesia.
  • Three promoters of the scheme were based in the United States, the SEC said.
by Solomon Oladipupo
Analysis
Analysis
FinTech
Analysis
Analysis

Is the UK FCA Doing Enough to Stop Investment Scams?

  • According to UK Finance, investment scam victims lost £171.7 million in 2021.
  • The FCA says it can only prosecute fraud as a private prosecutor.
by Solomon Oladipupo
Retail FX

CFTC Charges South African Pool Operator in Its Largest BTC Fraud Case

  • Steynberg and MTI defrauded investors of more than $1.7 billion.
  • The investors were non-eligible contract participants (ECPs).
by Solomon Oladipupo
Retail FX

US SEC Stops Alleged $39 Million Fraud by Hedge Fund Adviser

  • The US SEC charged EIA All Weather Alpha Fund I Partners LLC.
  • Andrew M. Middlebrooks was named in the complaint.
by Felipe Erazo
Brokers

US SEC Charges Allianz Global Investors with Multibillion-Dollar Fraud

  • Allianz Global Investors and three former senior portfolio managers are involved.
  • Investors agreed to pay over $1 billion to resolve charges.
by Felipe Erazo
News

Mining Capital Coin CEO Indicted for $62 Million Crypto Scam

  • The individual was charged with conspiracy to commit international money laundering.
  • He faces a maximum total penalty of 45 years in prison if convicted of all counts.
by Felipe Erazo
News

US SEC Dismantles Crypto Securities Fraudulent Offering

  • Steven Chiang, Eric Tippetts, James Hardy and Maurice 'Butch' Chelliah were charged.
  • Defendants allegedly created some companies to run the fraudulent schemes.
by Felipe Erazo
Institutional FX

US Regulators Charge Archegos Capital for $10 Billion Swap Loss

  • The SEC says its investigation is ongoing.
  • The CFTC asks for restitution for defrauded swap counterparties.
by Solomon Oladipupo
Retail FX

US Authorities Arrest a Man for Running $1.8 Million Fraudulent Scheme

  • Chet Stojanovich has been arrested on charges of defrauding more than a dozen victims.
  • Stojanovich was running multiple companies.
by Bilal Jafar
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