December 2013 – Financial Treason & Crime

Cecilia Jamasmie, 20 December 2013

Canada’s British Columbia’s provincial securities regulator has accused hedge fund manager Jon Richard Carnes of fraud committed by writing a false negative report in 2011 about Silvercorp Metals Inc. (TSX, NYSE: SVM) to profit from its falling share price. According to BC Securities Commission, Carnes —who operates the Alfred Little financial blog— began writing negative reports about companies that traded on a North American exchange and operated in China in 2010. The body alleges he sought to profit from his negative reports by shorting—or betting against—the issuer’s securities before publishing the reports, and then covering his short position after the share price dropped in response.
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12/19/201302/24/2021

Article: Canada Regulator Accuses Silvercorp Short Seller of Fraud

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Canada Regulator Accuses Silvercorp Short Seller of Fraud

Karen Johnson, 19 December 2013

TORONTO—British Columbia’s provincial securities regulator accused hedge fund manager Jon Richard Carnes of fraud when he wrote negative reports about Silvercorp Metals Inc. to profit from its falling share price.

In a statement Thursday, the British Columbia Securities Commission said starting in 2010, Mr. Carnes, who operates the “Alfred Little” financial blog, wrote negative reports about companies that traded on a North American exchange and operated in China. It alleges he sought to profit from his negative reports by shorting—or betting against—the issuer’s securities before publishing the reports, and then covering his short position after the share price dropped in response.
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12/18/201303/04/2021

Article: SEC accuses Cohen of missing insider trading red flags

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SEC accuses Cohen of missing insider trading red flags

gcrawford, 18 December 2013

Steven A. Cohen, the billionaire founder of hedge-fund firm SAC Capital Advisors LP, was accused by U.S. regulators of failing to supervise two employees facing criminal charges that they illegally traded stocks based on confidential information.

Cohen received highly suspicious information that should have caused any reasonable hedge-fund manager to investigate the basis for trades made by Mathew Martoma and Michael Steinberg, the SEC said in an administrative proceeding filed today. Cohen ignored red flags and allowed illegal trades that earned profits and avoided losses of more than $275 million, the SEC said.
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12/06/201303/11/2021

Article: 49 Russian Diplomats and Spouses Charged with Medicaid Fraud, But Diplomatic Immunity Bars Their Arrest

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49 Russian Diplomats and Spouses Charged with Medicaid Fraud, But Diplomatic Immunity Bars Their Arrest

Steven A. Meyerowitz, 06 Decembet 2013

A total of 49 current or former Russian diplomats and their spouses have been charged by U.S. prosecutors with participating in a widespread health care fraud scheme from 2004 to August 2013 to illegally obtain nearly half a million dollars in Medicaid benefits. Not one of the people charged was arrested, because of diplomatic immunity.

Each of the defendants is a current or former Russian diplomat or the spouse of a diplomat employed at either the Russian Mission to the United Nations, the Russian Federation Consulate General in New York, or the Trade Representation of the Russian Federation in the USA, New York Office. Continue reading “Article: 49 Russian Diplomats and Spouses Charged with Medicaid Fraud, But Diplomatic Immunity Bars Their Arrest”