Risk
SEC Charges Investment Firm for Fraudulent Coin Scam
Red Rock Secured allegedly tricked victims into selling off 401(k) assets to invest in coins at an exorbitant markup.
Tag: Fraud
Newsmakers
Founder, Former CIO of Infinity Q Sentenced to 15 Years
Ohio and Texas pension funds were among investors who lost millions as a result of James Velissaris’ fraud.
Newsmakers
Fund for Madoff Victims Tops $4 Billion in Distributions
Justice Department says total recovery from Ponzi scheme has now covered more than 88% of losses.
Newsmakers
Glen Point CIO, Founder Charged With FX Manipulation, Fraud
Prosecutors allege that Neil Phillips artificially drove the dollar-rand exchange rate lower to trigger a $20 million option payout.
Risk
Criminality Proves Resilient During Crypto Crash
Losses from cryptocurrency hacks rise 60% during first seven months of 2022.
Regulation
CFTC Charges South African Firm and CEO With $1.7 Billion Bitcoin Fraud
Regulator says it is the largest fraudulent scheme involving the cryptocurrency in any CFTC case.
Regulation
NFT Marketplace Worker Charged With Wire Fraud and Money Laundering
Nathaniel Chastain was arrested for what the Justice Department calls the ‘first ever digital asset insider trading scheme.’
News
SEC Charges Hedge Fund Adviser With $39 Million Fraud
Andrew Middlebrooks allegedly embezzled money from investors to pay for jewelry, credit card bills and his wife’s business.
Newsmakers
Firm Charged With Defrauding Disabled People Using Fake Trusts
The SEC alleges that Synergy Settlement Services used funds from deceased beneficiaries’ accounts for golf tournaments and beach parties.
Newsmakers
Brother, Sister Charged in Alleged $124 Million Crypto Fraud Scam
John and Tina Barksdale allegedly defrauded thousands of investors through offerings of a digital token called Ormeus Coin.
Regulation
Crypto Companies Charged in $44 Million Ponzi Scheme
The owners of EmpowerCoin, ECoinPlus and Jet-Coin face charges of wire fraud, money laundering and obstruction of justice, among others.
Regulation
Former CIO Charged With Overvaluing Funds by $1 Billion
Infinity Q Capital Management’s James Velissaris allegedly pocketed nearly $27 million in ill-gotten fees
Regulation
Regulators Accuse Investment Firm of Preying on Elderly
The SEC and CFTC allege an LA firm continues to target mostly elderly or retirement-aged victims as part of a precious metals scam.
Regulation
HeadSpin Avoids SEC Penalty Through Remediation
CEO Manish Lachwani allegedly falsely inflated the software firm’s revenue by $800 million.
Regulation
SEC Charges Adviser With Fraudulently Operating Private Fund
Anthony Cottone allegedly raised nearly $3 million using false and misleading representations, and misappropriated funds.