Category: Fraud

FX settlement
November 20, 2017 BY LeapRate Staff

UBS, RBS, JPMorgan, Citi, Barclays, HSBC heading towards EU settlement for FX rate rigging cartel

The Financial Times is reporting that several of the world's leading banks are heading towards final negotiations on a financial settlement (read:fines) with the European Commission, following a more than four year long probe into allegations they formed a cartel to rig the $5 trillion global FX market. The FT named UBS, RBS, JPMorgan, Citigroup, Barclays,…

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ICO fraud
November 18, 2017 BY LeapRate Staff

Gerard Suite and his company STA Opus LLC sanctioned and fined millions for investment fraud

The U.S. Commodity Futures Trading Commission (CFTC) obtained $1,127,855 in restitution for defrauded pool participants and $3,383,565 in civil monetary penalties in a federal court Default Judgment Order against Defendants Gerard Suite (who is known by numerous aliases, including Rawle Gerard Suite, Jerry Suite, and Jerry Snead) and his company, STA Opus NR LLC (STA Opus), as well as…

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titantrade binary options fraud
November 17, 2017 BY LeapRate Staff

ASIC takes further action in Allianz Metro and TitanTrade Binary Options fraud

Australia's financial regulator ASIC stated that it has sought final orders in ongoing Federal Court proceedings against a number of international and Australian companies and associated individuals that it alleges are involved in operating binary trading websites (titantrade.com and tradettn.com) and offering of binary trading services to Australian customers. In July 2016, ASIC previously successfully…

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sec fraud
November 13, 2017 BY LeapRate Staff

Draven LLC and owner Derek Springfield banned and fined in multi million dollar Forex fraud

The U.S. Commodity Futures Trading Commission (CFTC) has  announced that Judge David G. Campbell of U.S. District Court for the District of Arizona entered a Consent Order against Defendants Derek Springfield and his company, Draven, LLC (Draven), both of Mesa, Arizona finding that they fraudulently solicited and received at least $1.8 million from approximately 112 commodity pool participants in…

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Melbourne Cup Day betting scams
November 06, 2017 BY LeapRate Staff

Australia consumer watchdog warns of sports investment and betting scams on Melbourne Cup Day

Australia's consumer watchdog Australian Competition and Consumer Commission (ACCC) has issued a warning for 'Punters' to watch out for betting and sports investment scams which falsely promise high odds and big returns on the annual Melbourne Cup Day. Melbourne Cup Day is Australia’s best known horse racing event, held on the first Tuesday of November every…

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DFSA
October 25, 2017 BY LeapRate Staff

Apollo Management former senior partner Mohammed Ali Rashid charged with secretly billing clients for personal expenses

The U.S. Securities and Exchange Commission has announced charges against Mohammed Ali Rashid, a former senior partner at Apollo Management L.P., for defrauding his fund clients by secretly billing them for approximately $290,000 in personal expenditures. Mr. Rashid is charged with using client funds for family vacations, visits to a hair salon, and purchases of…

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