The United Nations continues to investigate and reveal its findings that allege that North Korea has been the instigator behind significant fraud activity in the cryptocurrency world. There had been several reports from cyber security firms that also pointed to North Korea as the culprit in several cyber compromises of crypto exchanges over the past…
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The Securities and Exchange Commission (SEC) announced yesterday that it has charged three foreign individuals with deceiving U.S. investors, causing them to lose millions of dollars and entire life savings through fraudulent, online sales of binary options. The defendants Gil Beserglik, Raz Beserglik and Kai Christian Petersen, deceived the investors through 3 online binary options…
Read moreThe SEC announced on September 23rd that it is bringing new charges in New York-based multimillion dollar boiler room schemes. The allegations state that Benjamin Conde arranged the manipulation of millions of shares of the company Renewable Energy and Power Inc., an action which resulted in generating $3.1 million in illegal proceeds. According to the SEC,…
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Australian regulator ASIC informed earlier today that following an investigation, the Former director of Hudson Resources Limited and Raffles Capital Limited, Benjamin Amzalak, has pleaded guilty to an offence of market manipulation. Amzalak, of Bondi, NSW, has been sentenced to 2 years of imprisonment. He took part in transactions that had the effect of creating…
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Australian regulator ASIC announced earlier today that it has cancelled the Australian financial services (AFS) licence of the company Platinum Perpetual Global Private Wealth Pty Ltd, based in Perth (AFSL 508415). The AFS licence was cancelled at the request of the company, following a separate action brought by Western Australian Police Force (WAPF), which has…
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The Securities and Exchange Commission today announced that it has shut down $300 million fraud perpetrated by San Diego company ANI Development LLC and Its Principal, Gina Champion-Cain. According to the regulator, the company has defrauded approximately 50 retail investors. Back in 2012, ANI Development LLC fraudulently raised hundreds of millions of dollars from investors…
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Belize financial regulator IFSC has just issued a Warning Notice regarding a company called OptimaFX Global Investment LTD. The new entity is not licensed under the IFSC Act to provide, carry on, transact, or hold itself out as providing, carrying on, or transacting any of the international financial services as set out in the Schedule…
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The U.S. Commodity Futures Trading Commission (CFTC) has announced on Friday that the U.S. District Court for the Northern District of Georgia has ordered Kevin Andre Perry and Lucrative Pips Corporation to pay $694,799. The company has been charged with defrauding clients and misappropriating nearly $700,000 from more than 50 clients in a forex trading…
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The U.S. Commodity Futures Trading Commission (CFTC) has informed the public yesterday that it has required Curtis Dalton of Middleton, Massachusetts to pay $200,000 for offering illegal off-exchange retail commodity transactions to U.S. and overseas customers while failing to be registered by the CFTC as required. Dalton offered transactions, which consisted of binary options in…
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Two Israeli brothers, Eli and Assaf Gigi, 31 and 21 years of age, respectively, were arrested for alleged crypto thievery by authorities after an investigation that began in 2017. The strange thing about this case is that after a $1.7 million theft was confirmed, the two brothers, whether true or not, were soon implicated in…
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