Reported by: Ben Taub In August, 2018, Wirecard had a market capitalization of twenty-eight billion dollars. The company displaced Commerzbank from the DAX 30, Germany’s most prestigious stock index. Markus Braun—who owned eight per cent of the company and was now a billionaire, on paper—had taken out a personal loan of a hundred and fifty million euros […]
By Sana Ameer A fake multimillion-dollar cattle-trading business just ended with its conspirators sentenced to pay about $14 million back to investors. From late 2017 until early 2019, Reva Joyce Stachniw and Ron Throgmartin misled victims to invest millions of dollars in a Ponzi scheme, the U.S. Department of Justice said. Investors were told their […]
Reported by: The NY Department of Financial Services New York State Department of Financial Services (DFS) Superintendent Adrienne A. Harris today announced the Department has enhanced its ability to detect fraud and other illegal activity among New York State-regulated entities engaged in virtual currency activity through new insider trading and market manipulation risk monitoring tools. […]
Reported by: Anushree Dave The U.S. Securities and Exchange Commission on Friday said it charged former NBA star Paul Pierce with promoting EMAX crypto tokens, sold by EthereumMAX, on social media, without disclosing that he was receiving payment for the promotion and for making possible misleading statements about the asset. The agency said that Pierce, […]
Reported by: Anushree Dave The U.S. Securities and Exchange Commission on Friday said it charged former NBA star Paul Pierce with promoting EMAX crypto tokens, sold by EthereumMAX, on social media, without disclosing that he was receiving payment for the promotion and for making possible misleading statements about the asset. The agency said that Pierce, […]
Reported by: George Glover Binance secretly moved large sums of money from its supposedly independent US partner to a company managed by the crypto giant’s boss Changpeng Zhao, according to Reuters. The publication said Thursday that Binance’s US partner started transferring money to Merit Peak in 2020 and sent the trading firm over $400 million in […]
Reported by: FinTech Global Despite their growing interest across investors, there are still huge challenges around money laundering with NFTs. In a recent post by Alessa, the company explained more about money laundering in the NFT space and how to deal with it. What qualities make the tokens attractive to money laundering? Alessa cited pseudonymous […]
Reported by: Dave Michaels Binance, the world’s largest cryptocurrency exchange, expects to pay monetary penalties to settle existing U.S. regulatory and law-enforcement investigations of its business, the firm’s chief strategy officer said in an interview. Binance grew quickly and began as a business powered by software engineers unfamiliar with laws and rules written to address the […]
Reported by: ZACHARY WARMBRODT Sen. Elizabeth Warren is branding herself as the scourge of crypto. And she’s not doing it alone. The progressive Massachusetts Democrat is starting to recruit conservative Senate Republicans to her anti-crypto cause and getting some early positive vibes from bank lobbyists, who also want to rein in digital asset startups. Crypto advocates are […]
Reported by: ELLEN CHANG As sports betting ramps up and fans are eager for any ticket or merchandise deals, the number of phishing attempts rise as hackers target large sporting events like the Super Bowl to make a big score. Consumers and companies should be prepared for a wide range of scams to occur around […]
Financial Crime News Briefs 