FCA prosecutes individuals involved in binary options scheme Bespoke Markets Group LeapRate

November 01, 2022 BY Steffy Bogdanova

FCA prosecutes individuals involved in binary options scheme Bespoke Markets Group

Additionally, Reuben Akpojaro, who worked at the Group, was also charged with the same offences in May 2022. The FCA also noted that further charges were brough against Raheel Mirza and a fifth individual, Taheer Sardar, for obstruction of FCA’s investigation. According to the Agency, the two men created false documents meant to influence the…

October 14, 2022 BY Steffy Bogdanova

US Federal Court imposes a $7.6 million penalty in a CFTC commodity pool fraud case

The scheme According to the CFTC, the fraudulent scheme began in August 2014 when Hewko and MPC began seeking investments into a pooled investment vehicle operated by MPC and marketed to prospective investors as the Global Opportunity Fund (Fund). The regulator detailed that over $1.1 million were collected from the investors from September 2014 to…

October 12, 2022 BY Steffy Bogdanova

Ztegrity slapped with a $940K fine for FX pool trading fraud

The forex scheme According to the CFTC, the fraudulent scheme ran from October 2019 to June 2021. The operators used different websites and social media platforms to advertise their forex trading pool “The Black Club” and “The Forex Savings Club.” They were marketed as a version of a savings account that offered a greater yield…

September 30, 2022 BY Steffy Bogdanova

HK SFC charges thirteen people in a ramp-and-dump syndicate case

The SFC alleges that the syndicate members organised and executed the schemes in the shares of two Hong Kong-listed companies through different social media platforms. They manipulated the trading of a large volume of those shares by using a substantial number of nominee accounts. The regulator stated: In implementing the schemes, the syndicate members were…

September 15, 2022 BY Steffy Bogdanova

SEC charges Loop Capital Markets in first case against broker-dealer municipal advisor violation

Furthermore, SEC discovered that Loop Capital did not maintain a system reasonably designed to supervise its municipal securities activities. The regulator noted that its procedures were inadequate, using insufficient methods to identify potential violations of the municipal advisor registration rules. LeeAnn Ghazil Gaunt, Chief of the Enforcement Division’s Public Finance Abuse Unit, said: The municipal…

BNY Mellon Investment Adviser charged with omissions in ESG by SEC

September 13, 2022 BY Steffy Bogdanova

SEC announces charges against Oppenheimer & Co., BNY Mellon, TD Securities, and Jefferies

Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, said: I applaud the excellent work of the Division’s Public Finance Abuse Unit in bringing these first-ever actions in the $4 trillion municipal bond space. We encourage underwriters to examine their practices and to self-report any failures to us before we identify them ourselves. LeeAnn…

August 19, 2022 BY Steffy Bogdanova

Former DanFX Trade director arrested following ASIC investigation

ASIC noted that in some cases, the money Ali received from investors had come from investors’ self-managed superannuation accounts. In 2018, in the midst of ongoing civil proceedings against him and an ongoing investigation, Ali left Australia. He was arrested in Poland in November 2021 after a warrant for his arrest was issued. Poland granted…

July 26, 2022 BY Steffy Bogdanova

SEC files insider trading charges against 10 people in 4 different cases

Details on the three cases Bhardwaj, who is former CISO of Lumentum Holdings Inc., and his friends, Dhirenkumar Patel, Srinivasa Kakkera, Abbas Saeedi, and Ramesh Chitor, using information not yet made available to the public, traded securities and generated $5.2 million in profits. In another case, SEC revealed that Goel, an investment banker and his…

July 19, 2022 BY Steffy Bogdanova

HK SFC bans former Standard Chartered Bank exec for three years

Afterwards, Lam transfered these amounts from the payroll accounts back into his mother’s personal bank account without the knowledge or authorisation of the five customers. According to the financial markets regulator, Lam’s mother aimed to improve his performance at SCB. As a result, the bank gave Lam $4,520 as additional quarterly incentive after including in…

June 20, 2022 BY Steffy Bogdanova

CFD trader sent to prison in Australia for insider trading

Prior to the official announcement by PanAust of the takeover bid on 30 March 2015, Li acquired 390,000 PanAust CFDs during the period between 19 and 26 March 2015. He also made his wife acquire 265,000 PanAust CFDs between 22 and 26 March 2015. In sentencing, Judge Rinaudo said: [He] took an unfair advantage when…

Category: Charges