Search Results for: Fraud
Wall Street execs being investigated
September 18th, 2014
Citing Wall Street’s “troubling return” to risky conduct that preceded the 2008 financial collapse, Attorney General Eric Holder said Wednesday that federal authorities are poised to file criminal charges against an undisclosed number of individuals at various financial institutions. ...
SEC Obtains Asset Freeze Against Company in Turks and Caicos Islands
September 17th, 2014
The U.S. Securities and Exchange Commission (SEC) announced an emergency asset freeze against a company located in Turks and Caicos Islands in connection with its operation of a South Florida-based Ponzi scheme. The SEC’s request for the emergency asset ...
FCA warns against clone firm
September 16th, 2014
The Financial Conduct Authority (FCA), the British financial regulatory authority, has issued a warning against clone firm “DuPont Financial, DuPont FX & DP Global Services Ltd” (www.dupontfx.com). FCA warns investors that this clone company is not permitted to provide ...
CEO of tax specialist cleared of wrongdoing after HMRC climb down
September 15th, 2014
The chief executive and a former director of the tax specialist arm of financial group Montpelier have been cleared of cheating the public revenue of £1m, after HM Revenue and Customs (HMRC) dropped the case against them. Watkin Gittins, ...
HSBC settles a $550 Million lawsuit
September 15th, 2014
HSBC has agreed to pay $550 million for a lawsuit filed in 2011 by the Federal Housing Finance Agency, the federal regulator that oversees the government’s two mortgage finance companies, over troubled mortgage-backed securities sold in the lead-up to ...
FCA warning against clone firm
September 12th, 2014
The Financial Conduct Authority (FCA), the British financial regulatory authority, has issued a warning informing the investors that “The Right Loan 4 U(www.metadi.co.uk) is the clone firm of “The Right Loan 4 U Co Ltd”, thus, is not permitted ...
PwC to face U.S. lawsuit over Colonial Bank collapse
September 11th, 2014
Accounting firms PricewaterhouseCoopers and Crowe Horwath must face a lawsuit accusing them of professional malpractice and breach of contract for not catching a fraud that led to the 2009 collapse of Colonial Bank, a federal judge has ruled. Filed ...
China’s Tianhe denies overstating profits, cites investor support
September 11th, 2014
Tianhe Chemicals (1619.HK) has denied allegations that it made false statements in its initial public offering prospectus and said key investor Morgan Stanley Private Equity Asia (MSPEA) has given it full support. A report by Anonymous Analytics, which describes ...
U.S. Charges Belize Agents Linked to Cynk’s Stock Surge
September 10th, 2014
Two men working out of the same Belize building as the penny-stock company Cynk Technology Corp. (CYNK), which surged to a market value of more than $6 billion for an hour in July, were among six people accused by ...
Belize Firm Charged in $500 Million Tax-Evasion Scheme
September 10th, 2014
IPC Management Services LLC, a Belize-based investment firm, and its founder were accused of a $500 million scheme to launder money and hide investments as part of a U.S. crackdown on tax evasion. Robert Bandfield, a U.S. citizen, was ...
