Month: February 2020

Posted on

Article: US Authorities Build Case Against JP Morgan Over Market Manipulation For Precious Metals

Article - Media, Publications

US Authorities Build Case Against JP Morgan Over Market Manipulation For Precious Metals

Mike Papantonio, 29 February 2020

Via America’s Lawyer: RT correspondent Michele Greenstein joins Mike Papantonio to walk us through a developing criminal case against bank behemoth JPMorgan, which is being accused yet again of manipulating precious metals markets for the express profit of its own clients and investors.

Mike Papantonio: Federal prosecutors are turning their attention towards bank behemoth JP Morgan, which is accused of manipulating gold and silver prices for the benefit of their clients and their shareholders. Michele Greenstein joins me now to explain what’s happening with this case. First off, run us through these allegations, Michele, you’ve covered this story a fair amount. It’s, it’s a story that again, corporate media isn’t covering this one. What is your take on this story?

Michele Greenstein: Well, US authorities are building a case, although formal accusations have not been made against the bank, but according to two people who are familiar with the matter who spoke with Bloomberg news, US authorities, like we said, are building a criminal case against JP Morgan. Now both the bank and the DOJ declined to comment, but a bank spokesperson did confirm that the DOJ is investigating “trading practices in the metal market and related conduct.” So Pap, what we’re talking about here is metal market manipulation that is intentionally misleading or spoofing members of the metals market. So gold, silver, platinum, palladium, all of these are the precious metals, right? And what market manipulation looks like is this.

Read Full Article

Posted on

Suspended: Jody Ethan Thompson Suspended by FINRA

Suspended

Jody Ethan Thompson Suspended by FINRA

An AWC was issued in which Thompson was suspended from association with any FINRA member in all capacities for five months. In light of Thompson’s financial status, no monetary sanction has been imposed. Without admitting or denying the findings, Thompson consented to the sanction and to the entry of findings that he recommended several non-public offerings without having a reasonable basis to believe those transactions were suitable.

Read full report.

 

Posted on

Suspended: Matthew Duane Sibley Suspended by FINRA

Suspended

Matthew Duane Sibley Suspended by FINRA

An AWC was issued in which Sibley was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in all capacities for six months. Without admitting or denying the findings, Sibley consented to the sanctions and to the entry of findings that he negligently misrepresented his member firm’s ability to deliver corporate bonds that were not owned by the firm and that it ultimately failed to deliver to the buyer.

Read full report.

 

Posted on

Suspended: Kenton Christopher Crabb suspended by FINRA

Suspended

Kenton Christopher Crabb suspended by FINRA

An AWC was issued in which Crabb was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for six months. Without admitting or denying the findings, Crabb consented to the sanctions and to the entry of findings that he willfully failed to amend or timely amend his Uniform Application for Securities Industry Registration or Transfer forms (Form U4) to disclose federal and state tax liens totaling nearly $1.7 million.

Read full report.

 

Posted on

Release: MGP INGREDIENTS ALERT Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against MGP Ingredients, Inc. and Encourages Investors to Contact the Firm

Release

Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against MGP Ingredients, Inc. and Encourages Investors to Contact the Firm

28 February 2020

Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the District of Kansas on behalf of investors that purchased MGP Ingredients, Inc. (NASDAQ: MGPI) securities between February 27, 2019 and February 25, 2020 (the “Class Period”). Investors have until April 28, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Read full release.

Posted on

Release: INVESTIGATION ALERT The Schall Law Firm Announces it is Investigating Claims Against Carvana Co. and Encourages Investors with Losses to Contact the Firm

Release

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Carvana Co. and Encourages Investors with Losses to Contact the Firm

27 February 2020

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Carvana Co. (“Carvana” or “the Company”) (NYSE: CVNA) for violations of securities laws.

Read full release.

Posted on

Article: Russia’s money laundering risks – what does the latest FATF report mean in practice?

Article - Media, Publications

Russia’s money laundering risks – what does the latest FATF report mean in practice?

Kateryna Boguslavska, 26 February 2020

Russia’s risk level in the Basel AML Index has hit a record low following a December 2019 Financial Action Task Force (FATF) assessment that rated the country’s anti-money laundering and counter terrorist financing (AML/CFT) systems as reasonably effective.

The Basel AML Index is the only independent, data-based index of the risk of money laundering and terrorist financing (ML/TF) around the world. Russia’s overall risk score has fallen from 5.75 to 5.60 out of 10, where 10 equals the highest assessed risk of ML/TF. It remains in the medium/high-risk category, reflecting in particular its vulnerabilities to a high level of corruption and to political and legal risks. Continue reading “Article: Russia’s money laundering risks – what does the latest FATF report mean in practice?”

Posted on

Suspended: Paul Anthony Falcon Suspended by FINRA

Suspended

Paul Anthony Falcon Suspended by FINRA

An AWC was issued in which Falcon was fined $5,000 and suspended from association with any FINRA member in all capacities for 30 days. Without admitting or denying the findings, Falcon consented to the sanctions and to the entry of findings that he used an unapproved third-party communication application to conduct securities-related business with customers of his member firm.

Read full report.

Posted on

Suspended: Terrence Edward Bonk Suspended by FINRA

Suspended

Terrence Edward Bonk Suspended by FINRA

An AWC was issued in which Bonk was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for nine months. Without admitting or denying the findings, Bonk consented to the sanctions and to the entry of findings that he borrowed $8,000 from a customer of his member firm without notifying or obtaining prior written approval from the firm.

Read full report.

Posted on

Barred: Joseph Morris Thurnherr Barred by FINRA

Barred

Joseph Morris Thurnherr Barred by FINRA

An AWC was issued in which Thurnherr was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Thurnherr consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA in connection with an investigation into allegations set forth in a customer-initiated arbitration against him.

Read full report.

 

Posted on

Barred: Boris Skorodumov Barred by FINRA

Barred

Boris Skorodumov Barred by FINRA

An AWC was issued in which Skorodumov was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Skorodumov consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony or otherwise cooperate with FINRA’s investigation into Form U5 disclosures made by his member firms.

Read full report.

Posted on

Barred: John Clifford Park Barred by FINRA

Barred

John Clifford Park Barred by FINRA

An AWC was issued in which Park was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Park consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA in connection with an investigation it began after it received his member firm’s Form U5.

Read full report.

Posted on

Suspended: Pedro Perez-Riu Suspended by FINRA

Suspended

Pedro Perez-Riu Suspended by FINRA

An AWC was issued in which Perez-Riu was fined $5,000 and suspended from association with any FINRA member in all capacities for 10 business days. Without admitting or denying the findings, Perez-Riu consented to the sanctions and to the entry of findings that he caused traders under his supervision at his member firm to execute non-bona fide fixed income transactions.

Read full report.

 

Posted on

Article: Beyond Deutsche: U.S. Banks Also Implicated in Dubious Partnerships Abroad

Article - Media, Publications

Beyond Deutsche: U.S. Banks Also Implicated in Dubious Partnerships Abroad

CRISTINA MAZA, 24 February 2020

Evgeny, a retiree from the Russian city of Vladimir, always believed that the U.S. financial system had integrity. In particular Citibank, to him, was no Deutsche Bank, a bank known for getting in bed with dubious investors. And that belief, Evgeny says, may have led to his financial ruin.

The 63-year-old worked for years as a manager in the construction industry, and eventually he became a member of Russia’s minuscule middle class. He planned to retire in 2018 with roughly $100,000 in savings, the product of a lifetime of toil. For almost a decade he deposited his savings in one of Russia’s largest and most reputable financial institutions: Promsvyazbank. Evgeny was one of the bank’s top-tier clients, and he believed that he was on a path to financial stability for himself and his family. Continue reading “Article: Beyond Deutsche: U.S. Banks Also Implicated in Dubious Partnerships Abroad”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?