Search Results for: fraud
Individual and his company charged in a commodity futures and Forex Ponzi-Style Scheme
December 21st, 2016
The U.S. Commodity Futures Trading Commission (CFTC) filed a civil anti-fraud enforcement action in the U.S. District Court for the District of Arizona, charging Defendants Derek Springfield and his company, Draven, LLC (Draven), both of Mesa, Arizona, with engaging ...
Trader and a trading company ordered to pay $2.5 Million Penalty
December 21st, 2016
Federal Court Orders Chicago Trader Igor B. Oystacher and 3Red Trading LLC to Pay $2.5 Million Penalty for Spoofing and Employment of a Manipulative and Deceptive Device, while Trading Futures Contracts on Multiple Futures Exchanges The Court’s Order Finds ...
IMF head Christine Lagarde found guilty in French negligence court case
December 20th, 2016
IMF head was French finance minister in 2008 when billionaire was given $425M payout The high-flying career of Christine Lagarde, the head of the International Monetary Fund, hung in the balance Monday after a special French court convicted her ...
CFTC Orders Convergent Wealth Advisors LLC to Pay an $800,000
December 20th, 2016
CFTC Orders Convergent Wealth Advisors LLC to Pay an $800,000 Civil Monetary Penalty for Fraudulent Omissions and False Statements in Connection with an Employee’s Commodity Pool David Zier made fraudulent representations and issued false statements to clients in connection ...
Former Goldman Sachs trader refuses to return stolen trade secrets
December 19th, 2016
A former Goldman Sachs banker who stole his employer’s trade secrets has ignored an order to surrender them, in order to cash in on profits after his release from prison, a London court was told. Jurors at Southwark Crown ...
FINRA Foundation Publishes In-depth Analysis of U.S. Investors
December 15th, 2016
The FINRA Investor Education Foundation (FINRA Foundation) announced today the results of its Investors in the United States 2016 report, which provides a detailed analysis of 2,000 survey respondents from across the United States who hold investments in non-retirement ...
Regulation key to growth of African fintech
December 14th, 2016
African fintech is a booming sector, but effective regulation and tackling fraud are crucial to ensuring the space fulfils its potential in offering more Africans access to financial services. This is according to panellists at the Africa Technology Summit ...
Two traders charged in $26 Million Stock Manipulation Scheme
December 13th, 2016
SEC Files Charges in $26 Million Stock Manipulation Scheme The Securities and Exchange Commission today charged two New Jersey-based traders with manipulating more than 2,000 NYSE- and NASDAQ-traded stocks and reaping more than $26 million in profits from their ...
Financial adviser pleads guilty to theft of more than $1.6 million
December 12th, 2016
Admits to stealing money from a family’s trusts that he was managing and using it for personal expenses A former financial adviser has pleaded guilty to stealing more than $1.6 million from the beneficiaries of three trusts that he ...
Enforcement Director Andrew J. Ceresney to Leave SEC
December 9th, 2016
The Securities and Exchange Commission today announced that Enforcement Director Andrew J. Ceresney will leave the agency by the end of the year. During his nearly four years as head of the agency’s largest division, Mr. Ceresney implemented approaches ...
