Category: Fraud

CFTC
October 21, 2021 BY Steffy Bogdanova

CFTC brings charges in a $3.9 million forex and crypto fraud scheme

According to the CFTC, since September 2020, the defendants solicited through different channels, including Kikit’s website, over $3.9 million from 61 clients. The clients gave their money to the defendants to manage them in customized client portfolios for forex and crypto trading. The regulator stated that the defendants did not trade with their clients funds…

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Brokeree Solutions issues a warning about imposters
September 21, 2021 BY Steffy Bogdanova

Brokeree Solutions issues warning against imposters

The company said: When reaching out via Skype please ensure that the account you are talking to has Skype name: brokeree before exchanging any financial or other private information. Brokeree also noted that it accepts payments in EUR or USD via bank transfer. Its contracts are signed, discussed and exchanged only via email. Brokeree employees…

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CFTC
June 24, 2021 BY Steffy Bogdanova

ZTegrity Inc and CEO accused of forex fraud by CFTC

The official complaint released on the CFTC website claims that from around October 2019 up until the past few months, the accused utilised a number of social media platforms and websites in order to falsely market their forex trading pool as an alternative to a savings account which provided a larger yield with minimal risk.…

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SEC fraud
June 23, 2021 BY Steffy Bogdanova

CEO and ICO issuer charged with unregistered securities offering and fraud by SEC

Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit, stated: Loci and its CEO misled investors regarding critical aspects of Loci’s business. Investors in digital asset securities are entitled to truthful information and fulsome disclosures so they can make informed investment decisions. Although Wise and his company have neither admitted to nor denied the…

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SEC fraud
June 14, 2021 BY Steffy Bogdanova

Florida dentist charged with securities frauds by SEC

The SEC stated in its report regarding the second charge: Radjabli allegedly generated $162,800 in illicit profits on the resulting increase in Veritone’s stock price by trading Veritone securities on behalf of Apis Capital and an affiliated fund. The third fraud that Radjabli has now been charged with consisted of yet another fraudulent scheme regarding…

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Australia
June 07, 2021 BY Steffy Bogdanova

Australians lost $328 million to investments scams in 2020

The ACCC said in the report: It is not surprising that in 2020, 25% of all scam reports involved the loss of personal information, up from 16% in 2019. Loss of personal information was even higher among Indigenous consumers, where 36% of all scam reports involved the loss of personal information. The increasing value of…

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CFTC
May 28, 2021 BY Steffy Bogdanova

LJM charged with commodity pool fraud by CFTC

The CFTC now claims that these worst-case scenarios were in fact not based on historical scenarios at all and that LJM’s legitimate internal historical scenarios displayed losses far greater than 40% for each strategy. The complaint goes on to allege that around the tail-end of 2017 through to February 2018, LJM dramatically deviated from its…

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SEC
May 24, 2021 BY Steffy Bogdanova

Broker Emil Botvinnik to pay $1.5 million fraud case brought by SEC

Botvinnik did not admit or deny the allegations the SEC made but consented to the final judgment. He was ordered to pay civil penalty of $160,000, disgorgement of $1,140,996.48, and $208,155.86 in prejudgment interest. The official announcement stated that the SEC may suggest a plan to distribute any funds received from Botvinnik to harmed investors.…

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