Trading software provider TradeMasters and owner Mick Schacke hit with fraud fine LeapRate

June 29, 2018 BY LeapRate Staff

Trading software provider TradeMasters and owner Mick Schacke hit with fraud fine

The U.S. Commodity Futures Trading Commission (CFTC) has announced that the Honorable Gloria M. Navarro of the U.S. District Court for the District of Nevada (Las Vegas) entered an Order of Summary Judgment against Defendant Mirko (Mick) Schacke of Brentwood, California (formerly Antioch, California), and a Default Judgment against Schacke’s company, TradeMasters USA, LLC of Las Vegas, Nevada. The…

June 20, 2018 BY Mariela Naydenova

Coinbase users report the exchange to the SEC

Coinbase is the considered the "darling" of the crypto world. One of the biggest cryptocurrency wallets and exchanges in the world has recently expanded its portfolio of products and is going to Ethereum Classic in addition to the other digital assets it already offers such as Bitcoin and Litecoin. However, some Coinbase users have recently…

April 30, 2018 BY Valentina Kirilova

OSC charges two individuals with securities act offences

The Ontario Securities Commission (OSC) has announced that Douglas DeBoer of Ancaster, Ontario and Leonard Lodder of Guelph, Ontario, have been charged with fraud and related offences under the Securities Act (Ontario) following a lengthy investigation by the OSC’s Joint Serious Offences Team (JSOT). DeBoer has been charged with the following offences under the Securities…

April 20, 2018 BY Valentina Kirilova

Chairman of Australia’s largest wealth manager resigns following lying and overcharging scandal

Australia’s government is shocked by bank wrongdoing, as AMP Ltd. (ASX:AMP) has deliberately misled regulators over charging customers for services they didn’t receive. Meanwhile Commonwealth Bank of Australia (ASX:CBA) has collected fees from dead people, in one case for more than a decade, Bloomberg has informed earlier. AMP Chief Executive Officer Craig Meller announced that…

February 05, 2018 BY Valentina Kirilova

SEC halts ongoing fraud by purported hedge fund manager

The Securities and Exchange Commission (SEC) informed that it has charged a purported hedge fund manager in New York City with a brazen offering and investment adviser fraud thereby putting an end to an ongoing scheme. The SEC alleges that, since at least 2014, Nicholas Joseph Genovese and his hedge fund Willow Creek Investments LP…

December 05, 2017 BY LeapRate Staff

Digital display advertising firm Digi Outdoor Media Inc. and executives charged with multi million dollar fraud

The U.S. Securities and Exchange Commission has announced charges against a Seattle-area outdoor digital signage advertising company and two of its senior executives, over the theft of more than $2 million from retail investors. According to the SEC’s complaint filed in U.S. District Court in Seattle, Digi Outdoor Media Inc.’s former chief executive officer Donald…

UN report says North Korea laundered $2 billion theft via Hong Kong firm

April 25, 2017 BY Valentina Kirilova

SEC charges portfolio manager with diverting nearly $2 million to personal account

The Securities and Exchange Commission (SEC) announced fraud charges against a Massachusetts-based portfolio manager accused of diverting at least $1.95 million to his personal brokerage account from a fund over which he had trading authority. The SEC’s complaint alleges that Kevin J. Amell carried out a fraudulent matched-trades scheme in which he prearranged the purchase…

February 06, 2017 BY LeapRate Staff

FXCM and CEO Drew Niv kicked out of US Forex market, fined $7 million for defrauding customers

In a fairly harsh and historic move, the US Commodity Futures Trading Commission (CFTC) has banned FXCM Inc (NASDAQ:FXCM) from its home US market, as well as a permanent registration ban for CEO Drew Niv (pictured above). More details follow. We expect the company to put out a formal statement within about an hour, formally announcing…

December 19, 2016 BY LeapRate Staff

SEC charges Platinum Funds founder Mark Nordlicht with defrauding investors

The U.S. Securities and Exchange Commission (SEC) today charged the founder of Platinum Partners Mark Nordlicht (pictured above, with former managing general partner Uri Landesman) and two of Platinum's flagship hedge fund advisory firms with conducting a fraudulent scheme to inflate asset values and illicitly move investor money to cover losses and liquidity problems. SEC…

October 01, 2016 BY Mike Fox

CFTC charges "Live Trade Room" SchoolofTrade.com for fraudulently marketing futures trading strategies

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil anti-fraud enforcement action in the U.S. District Court for the Central District of California charging Defendants Joseph Dufresne (a/k/a Joseph James) and Megan Renkow (a/k/a Megan James), both of Palos Verdes Estates, California, and their company, United Business Servicing, Inc. (UBS), doing business as SchoolofTrade.com…

Tag: fraud