Search Results for: fraud
Ex-Millennium Fund Manager Gets Four Years in Prison
June 24th, 2014
Former Millennium Global Investments portfolio manager Michael Balboa was sentenced to four years in prison for defrauding investors by inflating the value of Nigerian sovereign debt by $80 million. Balboa, convicted in December in a retrial in Manhattan federal ...
The Case of the Missing White-Collar Criminal
June 23rd, 2014
The senior executives who played leading roles in the 2008 financial crisis can breathe a sigh of relief: If any committed crimes, the statute of limitations will run out for most of them this year. It’s safe to say ...
UBS Belgium Chief Charged in Multibillion-Euro Tax Probe
June 20th, 2014
Marcel Bruehwiler, chief executive of UBS AG’s (UBSN) Belgium unit, was charged in Brussels as part of a probe into a multibillion-euro tax fraud, accelerating the latest tax-evasion inquiry facing the Swiss bank. Prosecutors said the investigation deals with ...
Japan not regulating bitcoin, for the moment
June 20th, 2014
Japan’s leading Liberal Democratic Party said it decided against regulating bitcoin for the time being, after the collapse of Tokyo-based bitcoin exchange Mt. Gox prompted them to consider more scrutiny of the virtual currency. Mt. Gox, once the world’s ...
Hackers to Sell Stolen Credit Cards on Youtube
June 17th, 2014
A review of content on Google Inc. (GOOG)’s YouTube service turned up dozens of videos selling stolen credit card data, according to an Internet-safety research group trying to shed more light on an $18 billion illicit industry. The group, ...
‘Bitcoin Jesus’ Calls Rich to Tax-Free Tropical Paradise
June 16th, 2014
He’s known as Bitcoin Jesus in the world of cyber-currencies. Though he can’t promise you heaven, he is offering a haven: a condo in the Caribbean that comes with a new passport and almost zero taxes. Meet Roger Ver, ...
Hungary Verdict to Pave Way for $15 Billion FX Loan Plan
June 16th, 2014
Hungary’s supreme court will complete its precedent rulings today on foreign-currency mortgages, paving the way for the government to phase out loans worth about $15 billion. The court, known as Kuria, will brief reporters at 12:30 p.m. in Budapest ...
US Supreme Court working on 17 unsolved cases
June 16th, 2014
It’s crunch time at the Supreme Court, where the justices are racing to issue opinions in 17 cases over the next two weeks. The religious rights of corporations, the speech rights of abortion protesters and the privacy rights of ...
Levine on Wall Street: Revenue Models
June 12th, 2014
Is Uber’s valuation reasonable? Aswath Damodaran thinks no, Andrew Ross Sorkin thinks yes, but two data points from Henry Blodget that may or may not be true are that its revenue (1) is now $2 billion a year and ...
Tel Aviv acquires the first Bitcoin ATM in Middle East
June 11th, 2014
The first Bitcoin ATM will be launched in the Middle East and more precisely in Tel Aviv . Bitcoin is a peer-to-peer virtual currency that allows for transactions between users without any third party or middle man. The “cash-out ...
