Florida man and his scheme solicited nearly $3 million from more than 120 people in the United States and Canada, while misappropriating almost $2 million of the funds for personal use. The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of a civil enforcement Complaint in the U.S. District Court for the Southern…
Read moreThe U.S. Commodity Futures Trading Commission (CFTC) today announced that on January 29, 2016, the Honorable Richard M. Berman, U.S. District Judge for the U.S. District Court for the Southern District of New York, ordered Defendants 4X Solutions, Inc. (4X) and its principal, Whileon Chay, both of New York City, jointly and severally to disgorge…
Read moreThe Cyprus Securities and Exchange Commission (CySEC) today published a warning regarding fraudsters using its details to obtain money from investors and the general public. The regulator says that several types of financial scam messages and/or letters purporting to be sent by CySEC are currently in circulation. In particular, the fraudsters have used the email…
Read moreHackers, traders allegedly reaped more than $100 million of illegal profits
Read moreClint Canning, CEO of FX World, a British based managed account provider that went bankrupt and is now the subject of a fraud investigation by City of London Police, has been director of seven failed companies
Read moreFraudulent unregistered "investment firm", raised $2.6 million from clients.
Read moreAccount takeover and application fraud experienced the most activity in the past 12 months.
Read moreCrown Currency Exchange collapsed in 2010 owing 12,500 customers a total of £20 million. Three key personnel have now been jailed for fraud, whilst the owner of the firm took his own life during the three month trial during which the court heard that his wife had used £900,000 of customer money to buy a luxury house
Read moreFortelus Capital Management CFO Thomas Meston was preparing to leave his office on a Friday afternoon when a fraudster called stating that he was from Coutts and requested the company's corporate bank account details. Subsequently, the fraudsters stole from the bank account, with Mr. Meston now the subject of a lawsuit
Read moreAccording to the CFTC Complaint, “In reality, the pool was little more than a shell company used to defraud pool participants and enrich Defendants at their expense.”
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