Tag: fx fraud

XTB fx broker office Warsaw
November 17, 2017 BY LeapRate Staff

XTB issues response to Polish Financial Supervision Authority (KNF) on Forex Fraud charges

Warsaw based X Trade Brokers Dom Maklerski SA (WSE:XTB), which operates Retail Forex broker XTB.com as well as the X Open Hub trading platform, issued today a response to reports that Poland's Financial Supervision Authority (Komisja Nadzoru Finansowego, or KNF) was going to initiate proceedings against the company for perpetrating Forex Fraud. As we reported earlier…

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June 14, 2016 BY LeapRate Staff

BNY Mellon pays (another) $30 million fine for mispricing FX transactions in its Standing Instruction service

After settling a series of lawsuits for $714 million regarding allegations that it overcharged pension funds and other clients for FX services, Bank of New York Mellon Corp (NYSE:BK) will pay an additional $30 million penalty after US regulator the Securities and Exchange Commission (SEC) found more than a decade of violations in its foreign exchange business. According…

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February 20, 2015 BY Andrew Saks-McLeod

State of Texas jails FX fraudster for 97 months

Kevin G. White pleaded guilty on Dec. 11, 2013, to committing mail fraud in connection with a commodity trading fraud scheme, and was sentenced to 97 months in federal prison on Wednesday by U.S. District Judge Marcia A. Crone. White was also ordered to pay restitution in the amount of $3,926,870

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February 19, 2015 BY Andrew Saks-McLeod

Court hears Crown Currency bosses fled to France with gold bars prior to £20 million firm failure

After 5 years of legal wrangling, former owners of collapsed FX firm Crown Currency attended Southwark Crown Court yesterday. The prosecution has added theft of gold bars to the initial charges of fraud, as the company continued to accept deposits of £2 million in the advent of its demise, whilst co-owner Peter Benstead left for France with 11 KG of gold

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