Search Results for: Fraud
CFTC charged Schooloftrade.Com and its owners for fraud
October 3rd, 2016
The U.S. Commodity Futures Trading Commission (CFTC) filed a civil anti-fraud enforcement action in the U.S. District Court for the Central District of California charging Defendants Joseph Dufresne (a/k/a Joseph James) and Megan Renkow (a/k/a Megan James), both of Palos Verdes Estates, California, ...
Oil Services Company Paying $140 Million Penalty for Accounting Fraud
September 28th, 2016
The Securities and Exchange Commission today announced that oil services company Weatherford International has agreed to pay a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting. Two of the company’s senior ...
Ex-HBOS Bankers Accused of Getting Travel, Escorts in Fraud
September 27th, 2016
Defendants mismanaged troubled businesses for their own gain Participants used cash and high-class escorts as rewards Ex-HBOS Plc bankers accepted expensive gifts, luxurious foreign travel and high-class escorts to establish relationships that allowed co-conspirators to take control of troubled ...
SWIFT announces new security tool to strengthen customer fraud controls
September 20th, 2016
Anti-fraud reports introduced under SWIFT’s Customer Security Programme Supports banks by helping detect unusual payment flows quickly and easily Improves possibility of cancelling fraudulent transfers SWIFT announces the introduction of Daily Validation Reports, a new tool designed to supplement ...
“Stock Trading Whiz Kid” to Pay $1.5 Million to Settle Stock Newsletter Fraud Charges
September 15th, 2016
The Securities and Exchange Commission today announced that a self-proclaimed “stock trading whiz kid” and his stock newsletter company in Los Angeles have agreed to pay nearly $1.5 million to settle charges that they defrauded subscribers through false statements ...
Brazilian Police Launch Investigation Into Alleged Fraud at Pension Funds
September 6th, 2016
Brazilian police on Monday said they launched an investigation into alleged fraud of as much as 8 billion reais ($2.5 billion) at the country’s four largest pension funds, all of which are linked to state-controlled companies. Judge Vallisney de ...
Accountant in UK jailed from fraud
August 26th, 2016
A Financial Controller who defrauded his company by nearly £25,000 has been jailed for 18 months. Gurmukh Shehri, 33, from Woolwich, had day-to-day oversight of his company’s salary payment function when he committed the offences. He was sentenced at ...
CFTC announced fines for fraud on Forex commodity pool
August 23rd, 2016
CFTC Orders California Resident Irina Feldman and her Companies Cindium Inc. and Einstein Exchange Group Inc. to Pay More than $600,000 for Solicitation Fraud and Misappropriation in Commodity Pool Scheme All of Pool Participants’ Funds Were Misappropriated to ...
CBA warns for possible account fraud when sharing banking passwords with fintech start-ups
August 22nd, 2016
Commonwealth Bank of Australia has sent alarming emails to thousands of its customers who are engaging with fintech start-ups, warning that sharing internet banking passwords could invalidate the protection CBA provides from losses on accounts relating to fraud. But Acorns, which is competing with the banks’ retail wealth divisions, says CBA’s communication is ...
Former Goldman Sachs Trader Settles Fraud Charges
August 19th, 2016
The Securities and Exchange Commission today announced that the former head trader in residential mortgage-backed securities (RMBS) at Goldman Sachs has agreed to be barred from the securities industry and pay $400,000 to settle charges that he repeatedly misled ...
