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Breaking: Chelsea FC Partners CWM Were Target of Police Heron Tower Raid
- The City police is urging anyone who has invested in CWM’s managed funds offering 5% interest per month to get in contact. The 13 arrests this month were meant to "stop what we believe was an ongoing criminality".
Wednesday, 25/03/2015 | 11:15 GMT by
Avi Mizrahi
RBS Trader Pleads Guilty in Bank's Multimillion-Dollar Fraud Case
- As part of the scheme, Matthew Katke and his co-conspirators made misrepresentations to induce buying customers to pay inflated prices and selling customers to accept deflated prices for bonds, all to benefit RBS.
Thursday, 12/03/2015 | 10:19 GMT by
Avi Mizrahi
UK Serious Fraud Office Investigates "Ethical" Investment Company
- This past week the SFO carried out two search warrants in Hertfordshire. It is asking anyone who invested in either Global Forestry Investments or Global Forex Investments to complete a questionnaire on the SFO website.
Sunday, 01/03/2015 | 09:53 GMT by
Kenny Mariasin
IronFX Chinese Traders Storm Offices Demanding Money Back
- The latest protest has reportedly erupted after a trader threatened an executive at knifepoint. IronFX: "Any purported 'complaints' are defamatory and may be linked with rumors about the company's IPO."
Monday, 12/01/2015 | 11:11 GMT by
Avi Mizrahi
Hong Kong Court Takes Strong Action against Suspected Boiler Rooms - Freezing $4.3 Million
- The court's interim orders will remain in force until the hearing of the SFC’s application for final orders against all of the parties, the date of which has yet to be fixed. The Hong Kong watchdog's investigation is continuing.
Wednesday, 07/01/2015 | 11:49 GMT by
Avi Mizrahi
FX "Investment Club" JL Trading Disappears along with £130 Million of Clients' Funds
- British police are investigating an alleged fraud over claims about $200 million went missing from an FX investment company as its manager, Joe Lewis, left his office abroad and can no longer be found anywhere.
Sunday, 21/12/2014 | 14:29 GMT by
Avi Mizrahi
Dutch Financial Watchdog Warns about Ftradition, a Suspected Seychelles Boiler Room Scam
- Ftradition claims to offer "Stock Exchange Products" on its website but in some sections it also calls itself "ForexTradition." At any point, the unlicensed broker seems to focus mostly on CFDs.
Tuesday, 09/12/2014 | 12:08 GMT by
Avi Mizrahi
They Just Keep Coming! British Financial Watchdog Warns of Three More Forex Clone Scams
- Like with many clones before, the sites seem to primarily target Chinese speakers. Today's batch are of higher quality as far as graphics are concerned showing an improvement in the skills fraudsters imploy.
Thursday, 30/10/2014 | 15:46 GMT by
Avi Mizrahi
The Price Isn't Right! "Dead" Banker Sentenced to 70 Years in Jail for $72 Million Fraud
- Aubrey Lee Price, a former preacher and investment adviser who faked his own death, pleaded guilty to defrauding his clients and his bank and was sentenced to 70 years in prison Tuesday by a U.S federal court.
Wednesday, 29/10/2014 | 11:43 GMT by
Avi Mizrahi
Cyprus and Mauritius Watchdogs Spell Out ill-Devised Broker Scam
- The CySEC and FSC Mauritius has informed the public that LiveFX Trader is not and has not at any time been licensed by neither regulator, citing ill-devised fraudulent documentation with some basic errors.
Monday, 27/10/2014 | 15:10 GMT by
Avi Mizrahi
U.S Watchdog Charges Forex Monthly Income Fund with Fraud for Misappropriating over $1 Mln
- A firm that guaranteed senior citizens monthly returns on their investment based on profits earned from trading allegedly never traded but rather misappropriated more than $1 million of the pool participants’ funds.
Tuesday, 07/10/2014 | 16:19 GMT by
Avi Mizrahi
You Were Warned! Ukrainian Broker MMCIS Limits Withdrawals as Part of Anti-Crisis Measures
- After reported allegations against the broker it issued an emergency anti-crisis program to "stabilize the company under a raider attack and eliminate panic" including increasing its number of lawyers and security.
Tuesday, 07/10/2014 | 15:28 GMT by
Avi Mizrahi
Easy Forex Might Face 500 MLN Shekel Class Action Lawsuit, Israeli Paper Estimates
- The Tel Aviv District Court has recently decided that there is a "probable chance" that one of the biggest Israeli brokers will qualify as offering unlicensed investment advice, marketing and investment management.
Sunday, 14/09/2014 | 13:56 GMT by
Avi Mizrahi
IronFX Grilled on Chinese TV by Affiliates, Criminal Fraud Investigation Filed on Air - Updated
- In a 20 minute report, a journalist went undercover to experience the deposit process and track the money. A Chinese official called for a “severe punishment” in the event that IronFX is found to be operating illegally.
Thursday, 04/09/2014 | 08:00 GMT by
Avi Mizrahi
UK Watchdog Warns against a Boiler Room Scam Clone Targeting Asian Traders as LCG
- The British Financial Conduct Authority issues warnings against a Singapore-based clone website pretending to be London Capital Group Asia and about an unauthorised or "independent" firm targeting UK investors.
Thursday, 28/08/2014 | 08:06 GMT by
Avi Mizrahi
Another FCA Warning: AMT Markets is a Cloned Chinese Broker
- the watchdog has warned against the cloned firm, who claims to be U.K based to allure potential Chinese traders with a british brand but its website domain is registered under Jiaxin Liu from Guangzhou, China.
Thursday, 21/08/2014 | 09:09 GMT by
Avi Mizrahi
So Who Can You Trust?! MIT Business Professor Pleads Guilty to Running a $500 Million Scam
- A former Dean at MIT’s Sloan School of Management, solicited investors for more than half a billion USD based on his "quantitative models derived through extensive research" and channeled them to Bernie Madoff.
Monday, 18/08/2014 | 09:45 GMT by
Avi Mizrahi
Trying to Sue Your FX/CFD Broker? In Israel It Might Cost You Dearly
- The Tel Aviv District Court rejected an Israeli trader's claim that Atrade, a local subsidiary of AvaTrade, profited from client losses and fined him NIS 75,000 to pay the broker for compensation.
Wednesday, 30/07/2014 | 05:51 GMT by
Avi Mizrahi
FCA Initiates Prosecution of Currencytrader Over Alleged Fraud
- Phillip Harold Boakes of currency-trader.co.uk is accused by the British financial watchdog of theft, six counts of fraud, three counts of using a false instrument and accepting deposits without authorization.
Wednesday, 23/07/2014 | 14:21 GMT by
Avi Mizrahi
CFTC: A Forex Firm Promising to "Consistently Deliver in All Market Conditions" Is Fraud
- The US watchdog added allegations of fraudulent misrepresentation, false statements and misappropriation of $1 million of pool participant funds to charges against Daniel K. Steele, who got $2 million from investors
Sunday, 20/07/2014 | 11:29 GMT by
Avi Mizrahi
FBI Busted a $3.4 Million Fake Forex Trading Scam
- Marcellus Lopes Lee solicited investors to send funds to Taurus Global Markets, his Belize FX trading firm when he actually operated in Massachusetts and never really traded. He is now facing twenty years in jail.
Wednesday, 16/07/2014 | 18:52 GMT by
Avi Mizrahi
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