Tag: fraud

February 23, 2023 BY Steffy Bogdanova

US court indicts founders of $340 million Forsage crypto Ponzi scheme

Assistant Director Luis Quesada of the FBI’s Criminal Investigative Division, said: While advancements in the virtual asset ecosystem bring new opportunities to investors, criminals are also finding new ways to orchestrate illicit schemes. The FBI remains committed to working alongside our domestic and international law enforcement partners to investigate and pursue subjects who orchestrate these…

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ASIC ban
February 22, 2023 BY Steffy Bogdanova

ASIC brings charges against third person involved in Courtenay House $180 million FX Ponzi scheme

The allegations against Sipina are related to Courtenay House's illegal activities, which took place between June 2015 and April 2017. The regulator called Courtenay House's operation, a Ponzi scheme. The court alleges that the group convinced at least 585 investors to invest more than $180 million based on false representations that their money would be…

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CFTC
January 10, 2023 BY Steffy Bogdanova

CFTC charges Mango Markets manipulator with fraud in a $110 million scheme

Acting Director of Enforcement Gretchen Lowe, said: The CFTC will use all available enforcement tools to aggressively pursue fraud and manipulation regardless of the technology that is utilized. The CEA prohibits deception and swap manipulation, whether on a registered swap execution facility or on a decentralized blockchain-based trading platform.” The scheme According to the official…

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December 15, 2022 BY Steffy Bogdanova

SEC charges eight Twitter and Discord influencers with running a $100 million securities fraud scheme

Joseph Sansone, Chief of the SEC Enforcement Division’s Market Abuse Unit, said: As our complaint states, the defendants used social media to amass a large following of novice investors and then took advantage of their followers by repeatedly feeding them a steady diet of misinformation, which resulted in fraudulent profits of approximately $100 million. Today’s…

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FTX
December 13, 2022 BY Steffy Bogdanova

Samuel Bankman-Fried charged by SEC for defrauding investors, gets arrested in the Bahamas on criminal charges

The agency also pointed out as a key problem that Bankman-Fried kept the funds of Alameda and FTX mixed up together. The regulator alleges that he used that to make undisclosed investments, luxurious real estate purchases, and large political donations. SEC Chair Gary Gensler commented: We allege that Sam Bankman-Fried built a house of cards…

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Australia
December 12, 2022 BY Steffy Bogdanova

Four Chinese nationals based in Australia charged in a A$150 million cyber scam

The Scam The Aussie authorities found that the fraudsters employed sophisticated tactics in their operation. They used sophisticated social engineering methods to get in contact with the victims, including targeting them through dating sites, employment sites and messaging platforms before approaching them with the fraudulent investment opportunities. The victims who fell for the scam were…

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November 22, 2022 BY Steffy Bogdanova

CySEC warns of fake website and impersonators of its representatives

The regulator reminded the public that it never sends unsolicited correspondence, and it does not request payments, or individual personal data. CySEC further clarified that it has “no authority or jurisdiction to collect fees for any purpose from individual investors, nor does it have authority to appoint anyone to do so on its behalf.” According…

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ASIC ban
November 08, 2022 BY Steffy Bogdanova

FX Ponzi scheme operator pleads guilty in a $180 million fraud case brought by ASIC

According to ASIC, the Courtney House companies convinced investors that their funds would be traded in Forex and Futures markets, however, only 3% of those funds were actually traded. Instead, the amounts paid to investors on monthly basis, came from the deposits of new investors. The Australian regulator stated: In addition to offering purported ‘standard’…

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