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Regulation

Former Wall Street Executive Pleads Guilty to $38 Million Fraud

  • Andrew Caspersen's addiction caused him to lose $123 million by compulsively speculating on put options in the S&P 500 index.
Thursday, 07/07/2016 | 06:50 GMT by Finance Magnates Staff
Regulation

CFTC Charges Dorian Garcia With $17.5m in Fines after FX Ponzi Scheme

  • A series of fines combined to form a $17.5m penalty against Garcia for swindling investors in a commodity and FX scheme.
Wednesday, 06/07/2016 | 10:01 GMT by Jeff Patterson
Regulation

Former Football Star Among Athletes Duped out of $30m in Ponzi-Like Scheme

  • Narayan gained the athletes' trust through their charitable interests and hid multiple conflicts of interest from investors.
Wednesday, 22/06/2016 | 12:13 GMT by Finance Magnates Staff
Regulation

SEC Stops Scheme Defrauding Athletes Dead in its Tracks

  • The SEC has charged an investment adviser with secretly siphoning millions of dollars from accounts he managed for athletes.
Wednesday, 22/06/2016 | 07:16 GMT by Finance Magnates Staff
Regulation

Chilean IM Forex Lawyers-Up to Defend Against Money Laundering Accusations

  • Fiscal authorities in Chile that are withholding funds of the company have changed the nature of their accusations.
Tuesday, 14/06/2016 | 23:14 GMT by Victor Golovtchenko
Retail FX

Koch Brothers Refuse to Pay Back Madoff Ponzi Profits

  • The brothers walked off with $21.5 million in profits but have refused legal demands to pay back the money.
Friday, 03/06/2016 | 13:02 GMT by Finance Magnates Staff
Brokers

Chilean Authorities Freeze $1.8m of IM Forex Assets amid Investigation

  • The company protested the decision in a press release and claims that the money was designated to repaying clients.
Thursday, 02/06/2016 | 14:32 GMT by Victor Golovtchenko
Regulation

SEC Charges Ponzi Scheme Operators for Luring Middle Class Investors

  • The Ponzi scheme operators promised access to highly coveted investment opportunities typically reserved for the rich.
Wednesday, 01/06/2016 | 07:20 GMT by Finance Magnates Staff
Regulation

City of London Police Seize £30m and Arrest Man Linked to Forex Scam

  • Suspicious banking activity led to the man's arrest and seizure of the funds.
Monday, 25/04/2016 | 14:54 GMT by Steven Hatzakis
Regulation

Fraudulent Currency Trader Sentence Extended Two Years

  • Philip Boakes of currency-trader.co.uk receives further prison sentence as confiscation order remains unpaid.
Tuesday, 15/03/2016 | 21:14 GMT by Finance Magnates Staff
Regulation

Chilean Ponzi Scheme Worth $75 million Allegedly Connected to a Forex Company

  • AC Inversiones or AC Investments promised outrageous returns to 1500 people.
Tuesday, 08/03/2016 | 16:04 GMT by Victor Golovtchenko
Regulation

Whileon Chay's 4X Solutions Ponzi Scam Hit with $10m Court Order

  • Millions of dollars Chay raised for FX trading were reportedly actually used to have his wife cryogenically frozen after she died.
Monday, 08/02/2016 | 19:40 GMT by Avi Mizrahi
Regulation

London Police Suspect £50m CWM Investment Scam as Damages Widen

  • CWM is believed to have targeted members of the Gurkha and Nepalese community in London in a ponzi scheme worth nearly £50m.
Thursday, 04/02/2016 | 15:40 GMT by Jeff Patterson
P2P Lending

Fraud on a Chinese Scale: 900,000 Investors Deprived of $7.6 billion

  • Chinese fraudsters scammed almost 1 million investors of a year's salary.
Tuesday, 02/02/2016 | 15:06 GMT by Victor Golovtchenko
News

Lawyer: Trendon Shavers Was Scapegoat for SEC's Madoff Ponzi Miss

  • The lawyer representing the man accused of running the first Bitcoin Ponzi says his client was the target of unjustified zeal from the SEC.
Monday, 21/12/2015 | 15:46 GMT by Leon Pick
Trading

Did Chinese Traders Flocking to MMM Ponzi Cause Bitcoin Bubble?

  • Currently at 2620 CNY ($414), the "China premium" is now roughly 6.5% higher than the $380 mark on USD exchanges.
Friday, 06/11/2015 | 00:38 GMT by Leon Pick
Regulation

American FX Fund CEO Sent to Jail for Running a Ponzi Scheme

  • Stafford Maxwell, founder of Millennium Capital, was sentenced to almost four years and ordered to pay about $1.5 million in restitution.
Thursday, 03/09/2015 | 08:05 GMT by Avi Mizrahi
Regulation

ACM Gold's Trading License Suspended over Links to Dodgy Entities

  • The South African regulator asserts that the broker must ensure that all of its traders are authorised, while ACM denies any wrongdoing.
Friday, 28/08/2015 | 14:30 GMT by Andy Traveller
News

2 Suspects in MyCoin Bitcoin Ponzi Scheme Reportedly Arrested in Thailand

  • Two suspects in the Hong Kong-based MyCoin bitcoin Ponzi scam have reportedly been arrested in Thailand.
Tuesday, 25/08/2015 | 11:34 GMT by Leon Pick
Regulation

Black Diamond Forex Scammers Fined $76 Million

  • The fraudsters took over $35 Million from investors but never really traded on the FX market.
Sunday, 02/08/2015 | 09:00 GMT by Avi Mizrahi
News

20 Arrested in Spanish Digital Currency Ponzi Scam ‘Unete’

  • Spanish police have arrested 20 people in connection with a Ponzi scam based on a digital currency, ‘unete’.
Sunday, 19/07/2015 | 11:40 GMT by Leon Pick
Regulation

Millennium Capital Exchange CEO Charged with Running Ponzi Scheme

  • Both US and UK regulators have vowed to hold individuals accountable for financial crime.
Monday, 29/06/2015 | 21:47 GMT by Andy Traveller
Brokers

Offshore Brokerage Operating in Ukraine and Russia Goes Under

  • As first reported by Finance Magnates Russia, the exodus of the Eastern European forex industry is continuing with RVD Markets
Tuesday, 23/06/2015 | 07:25 GMT by Victor Golovtchenko
Analysis

Best Execution, Greece and How to Attract Investors #Askfinmag

  • Finance Magnates answers to readers questions about the Greek crisis, spread betting and how traders can attract investors
Monday, 11/05/2015 | 07:33 GMT by Victor Golovtchenko
Regulation

Currency Trader Arrested in London on Suspected Links to Ponzi Scheme

  • The City of London Police suspects a linkage to a globally operating Ponzi scheme which has solicited millions from over 375 investors
Thursday, 30/04/2015 | 07:53 GMT by Victor Golovtchenko
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