Hooray! At long last, the company managing my 401(k) plan will allow me to bet up to 20% of my retirement funds on a digital Ponzi scheme that generates no income and has no practical use. Fidelity In...
Tag: Securities fraud
Judge orders Cushman & Wakefield to comply with Trump subpoenas
Anti-Trump demonstrators gather outside of the New York County Supreme Court in New York City, U.S., April 25, 2022. David Dee Delgado | Reuters A New York judge Monday ordered commercial real-estate...
Fraud prevention start-up Seon raises funds to fight sanctions evasion
Fintechs have come under increased pressure to address Russian sanctions evasion, particularly amid concerns that their controls may be more lax than that of banks. Kirill Kudryavtsev | Afp | Getty Im...
Binance deepens Middle East expansion with Abu Dhabi approval
Binance CEO Changpeng Zhao said the company is “not shunned elsewhere” and that there’s “more to come.” Wei Leng Tay | Bloomberg | Getty Images Cryptocurrency exchange Bi...
Manhattan DA says Trump criminal investigation continues
Former U.S. President Donald Trump speaks during a rally at Florence Regional Airport in Florence, South Carolina, U.S., March 12, 2022. Randall Hill | Reuters The Manhattan district attorney, in an ...
Deutsche Bank Must Face Lawsuits Alleging It Enabled Ponzi Scheme
Judges in New York and Miami ruled that investor lawsuits could advance against Germany’s Deutsche Bank AG for allegedly ignoring warnings that it was helping finance a real-estate-linked Ponzi scheme...
NY AG probe suggests Trump business misstated asset values for years
Former U.S. President Donald Trump speaks during a rally at the Iowa States Fairgrounds in Des Moines, Iowa, October 9, 2021. Rachel Mummey | Reuters The New York Attorney General’s Office has &...
Britain to reveal stablecoin regulation plans, sources say
A visual representation of Bitcoin. Edward Smith | Getty Images LONDON — The U.K. government will soon reveal plans to regulate the cryptocurrency market, focusing on a fast-growing type of token know...
Deutsche Bank says not ‘practical’ to exit Russia business
Deutsche Bank said Thursday it is not “practical” to close its Russia business, despite similar moves by major corporations seeking to distance themselves from the country over its invasio...
Consumers lost $5.8 billion to fraud last year — up 70% over 2020
krisanapong detraphiphat | Moment | Getty Images American consumers reported losing more than $5.8 billion to fraud last year, up from $3.4 billion in 2020 (an increase of more than 70%), the Federal ...
Fatburger parent’s stock craters after company discloses investigation into CEO
Pakistani customers eat at a Fatburger outlet in Karachi, Pakistan. Rizwan Tabassum | AFP | Getty Images Shares of Fat Brands cratered more than 20% on Tuesday morning after the Fatburger and Johnny R...
Ponzi scheme behind patriotic vodka, once featured on ‘Fox & Friends,’ scammed investors out of $900,000 to pay IRS and Amex bills, prosecutors say
A Connecticut businessman has pleaded guilty to operating an unpatriotic Ponzi scheme that pocketed $900,000 from investors looking to buy a pro-veteran vodka company. Brian Hughes, 57, of Madison, Co...
Marine Reservist charged in Jan. 6 Capitol riot sold fake Covid cards, feds say
A stack of COVID-19 Vaccination Record Cards from the CDC. Ben Hasty | MediaNews Group | Getty Images A U.S. Marine Corps Reservist from New York who previously was arrested on charges related to part...
Netflix will do series on accused bitcoin hack money launderers
The bizarre case of a New York couple accused of trying to launder $4.5 billion in bitcoin stolen by a 2016 hack will be the subject of a docuseries on Netflix, the streaming company said Friday. The ...
London’s mayor Sadiq Khan calls for register of foreign-owned property
Luxury residential townhouses stand overlooking Regents Park in London, U.K., on Friday, Nov. 29, 2019. U.K. house prices increased at their fastest pace in more than a year in November, according to ...
Deutsche Bank earnings Q4 2021
Statues stand outside a Deutsche Bank AG branch in Frankfurt, Germany. Krisztian Bocsi | Bloomberg | Getty Images LONDON — Deutsche Bank on Thursday defied market expectations to post a profit for the...
Opinion: ‘Better than a 401(k)’? Scammer blew through more than $5 million of investors’ money earmarked for retirement
According to the Securities and Exchange Commission, Marco “Sully” Perez of Midland, Texas, used to tell his clients that his investment scheme was better than a 401(k). Now the U.S. District Court in...
Verdict in case of Theranos founder Elizabeth Holmes has lessons for investors
Sometimes an investment is too good to be true. Take Elizabeth Holmes’ health-care start-up, for example. On Monday, the founder and former CEO of Theranos was found guilty of four charges in he...