SEC complaint The US Securities and Exchange Commission (the “SEC“) filed charges against three Canadians, four Americans and nine private companies in the US District Court for the Southern District of California, for numerous violations of the Securities Act of 1933 and the Securities Exchange Act of 1934, for alleged manipulative market behaviour, including pump […]
The US Attorney in Florida today announced that a Canadian, Brooks Thomas Nesbitt, was sentenced to 10 years in jail after pleading guilty to wire fraud in connection with a money laundering securities fraud scheme. Nesbitt, originally from Thornhill, Ontario, ran several boiler room operations with another Canadian, Mary Kathryn Marr, which took in over […]
Two more men involved in a digital currency exchange and a digital currency, were murdered in Mexico. Their bodies were recently found stuffed in suitcases in Sinaloa cartel land, according to this newspaper article. The two, Oscar Brito from Chile and Ignacio Ibarra from Argentina, were involved in selling and promoting the digital currency called […]
Dead company revived This story is a little wild. You know those true crime cases you hear about where a person steals the identity of a dead person from a gravestone, and then gets fake ID in the name of the dead person to commit fraud? Well, a Vancouver man named Shane Kenneth Schmidt is […]
The proceeds of crime from a massive US$550 million Ponzi scheme perpetrated by two convicted fraudsters in the US – Kevin Merrill and Jay Ledford – are being auctioned at an online auction house starting next week, in part because of Covid-19. Diamonds, sports memorabilia, art, gold coins, comic book from securities fraud being sold […]
This case wins first prize as the most unusual financial crime case of 2019. It’s about Dawn J. Bennett, a former stock broker from Maryland, who first worked with Western International Securities. In addition to selling securities, Bennett was a financial expert on a radio show where she dispensed investment advice and believed that she […]
The founder of a digital currency exchange lied so much to the Securities and Exchange Commission (“SEC“) during its investigation and to a California Court, and made himself so not credible, that a Court has recommended one of the harshest remedies available – to deprive the defendant of the constitutional right to be heard – […]
A Canadian, possibly Iranian Canadian, pled guilty in New York today to conspiracy and securities fraud in connection with a scheme where fake securities of tech companies, such as Twitter and Uber, were sold to investors who suffered losses of US$18 million. Fred Elm, whose real name is Frederic Elmaleh from Toronto, led an investment […]
After two years, the Attorney General for the Southern District of New York has unsealed the indictment against Karl Sebastian Greenwood, a key promoter of the Bulgarian initial coin offering, and supposed digital currency called OneCoin. Greenwood was allegedly extradited to the US from Thailand in 2018. Indictment unsealed In the indictment, Greenwood is charged, […]
The Securities and Exchange Commission (“SEC“) has filed a complaint against an initial coin offering (“ICO“) and digital currency exchange platform called Dropil Inc. and three of its co-founders, Jeremy McAlpine, Zachary Matar and Patrick O’Hara, alleging that they took funds from the public on the basis of numerous untrue statements made on social media […]