Article: Feds indict ‘The Bull’ for selling insider trading info on the dark web

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Feds indict ‘The Bull’ for selling insider trading info on the dark web

Richard Lawler, 10 July 2021

Nearly four years after the lights went out at AlphaBay, the feds are still charging people with criminal activities linked to the dark web marketplace. On Friday the SEC and the Department of Justice announced charges against Apostolos Trovias, a Greek national who they allege posted on dark web marketplaces using the nickname “The Bull.”

However, unlike drug dealers targeted in previous actions, the authorities allege Trovias used dark web forums as a way to troll for people willing to buy or sell insider trading information while hiding behind “anonymizing software, screen names, and bitcoin payments.” Continue reading “Article: Feds indict ‘The Bull’ for selling insider trading info on the dark web”

Article: RSF man dealt $337 million fraud, DOJ says

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RSF man dealt $337 million fraud, DOJ says

Special to The Grapevine, 10 July 2021

The United States District Court for the Northern District of California this week unsealed an indictment returned by a federal grand jury in San Francisco charging Rancho Santa Fe resident Racho Jordanov with conspiracy to commit trade secret theft and wire fraud, international money laundering, and related charges including obstruction of justice.

Jordanov was the co-founder and former Chief Executive Office of JHL Biotech. He was charged along with Rose Lin, another of the company’s co-founders and former Chief Operating Officer Continue reading “Article: RSF man dealt $337 million fraud, DOJ says”

Article: Malaysia, 1MDB seeks more than $ 5.6 billion in damages from KPMG partners

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Malaysia, 1MDB seeks more than $ 5.6 billion in damages from KPMG partners

Rosanna Zambon and Liz Lee, 10 July 2021

Kuala Lumpur (Reuters)-Malaysia Development Berhad (1MDB), a Malaysian government and state fund, has sought more than $ 5.6 billion in damages from KPMG partners on suspicion of violations and negligence related to corruption scandals at the fund. A court document seen by Reuters showed.

Audit firm KPMG denied the allegations on Friday, promising to “violently” challenge the proceedings filed against 44 current and previous partners, and auditing 1MDB’s financial statements from 2010 to 2012. Linked to.

The proceedings confirmed by the Treasury on Tuesday are the latest in a series of proceedings filed by Malaysian authorities to recover the billions of dollars missing from 1MDB, worldwide. Continue reading “Article: Malaysia, 1MDB seeks more than $ 5.6 billion in damages from KPMG partners”

Article: Is Elon Musk’s Toxic Reign Coming to an End?

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Is Elon Musk’s Toxic Reign Coming to an End?

Tim Fries, 10 July 2021

Afew years ago, no one would have expected for one man to introduce so much volatility into the crypto space. Elon Musk filled that ignoble role, but everything has its expiry date.

What Did Elon Musk Do to Deserve 58 Million Followers?
Elon Musk got his first major financial breakthrough when he sold his Zip2 company to Compaq in 1999 for $307 million. Three years later, as a co-founder of PayPal, he sold it to eBay for $1.5 billion. Established business pedigree and these two financial injections were sufficient for him to focus on more concrete projects: Continue reading “Article: Is Elon Musk’s Toxic Reign Coming to an End?”

Article: Chinese regulator halts Huya-Douyu game-streaming merger

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Chinese regulator halts Huya-Douyu game-streaming merger

Zen Soo, 09 July 2021

HONG KONG – China’s market regulator on Saturday blocked the merger of Tencent-backed game streaming platforms Douyu and Huya following an anti-monopoly investigation, as authorities ramp up scrutiny of some of the country’s biggest technology companies.

Huya and Douyu — which provide videogame live-streaming services akin to Twitch in the U.S. — are two of the largest companies of their kind in China. Both count gaming firm Tencent among their investors. Continue reading “Article: Chinese regulator halts Huya-Douyu game-streaming merger”

Article: SEC charges three people for Long Blockchain Corp insider trading

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SEC charges three people for Long Blockchain Corp insider trading

Patrick Thompson, 09 July 2021

In December 2017, at the peak of the era that many refer to as ‘crypto mania’, New York-based beverage maker ‘Long Island Ice Tea’ changed its name to “Long Blockchain Corp. At the time of the rebrand, the beverage maker said they would transition out of manufacturing beverages and focus their efforts on blockchain technology.

After the rebrand, shares of Long Blockchain Corp rocketed upward by more than 380% intraday–unfortunately, Long Blockchain Corp never transitioned into producing blockchain technologies; which is one of the reasons that three individuals connected to the company have just been charged with insider trading related to the Long Blockchain Corp stock. Continue reading “Article: SEC charges three people for Long Blockchain Corp insider trading”

Article: Is Discord the Next r/WallStreetBets? 5 Stocks That Suggest That’s the Case

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Is Discord the Next r/WallStreetBets? 5 Stocks That Suggest That’s the Case

Thomas Yeung, 09 July 2021

If you want to become a day trader, I don’t blame you. People who consistently earn several percentage points per day can become wealthy beyond belief. Crypto arbitrageur Sam Bankman-Fried recently became a minor celebrity after revealing he was a billionaire by age 29.

Typically, professional traders like Mr. Bankman-Fried are either exploiting price differentials or using some form of statistical arbitrage. That’s when investors profit from minor pricing divergences across different exchanges or assets. Continue reading “Article: Is Discord the Next r/WallStreetBets? 5 Stocks That Suggest That’s the Case”

Article: Cryptocurrency Fraudster Sentenced To 15 Years For Money Laundering And Securities Fraud In Multi-Million Dollar Investment Scheme

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Cryptocurrency Fraudster Sentenced To 15 Years For Money Laundering And Securities Fraud In Multi-Million Dollar Investment Scheme

Department of Justice, 09 July 2021

SAN FRANCISCO – Roger Nils-Jonas Karlsson, citizen of Sweden, was sentenced today to 15 years in prison for securities fraud, wire fraud, and money laundering charges that defrauded thousands of victims. The court also ordered the defendant to forfeit several properties in Thailand, including a resort, and a forfeiture money judgment of more than $16 million. The sentence was handed down by the Hon. Charles R. Breyer, U.S. District Judge.

Karlsson, 47, pleaded guilty to the charges on March 4, 2021, without a written plea agreement. According to court documents, Karlsson ran an investment fraud scheme from 2011 until his arrest in Thailand in June 2019. Karlsson induced victims to use cryptocurrency such a Bitcoin and other online payment platforms to purchase shares in a scheme he called “Eastern Metal Securities.” Karlsson promised victims astronomical returns tied to the price of gold. Instead, the funds provided by victims were transferred to Karlsson’s personal bank accounts, and he then used proceeds to purchase personal items including expensive homes, a racehorse, and a resort in Thailand. Karlsson’s fraud targeted financially insecure investors, causing severe financial hardship for many of them. Meanwhile, Karlsson went to great lengths to prolong his scheme, including rebranding, offering updates and account statements that provided assurances to the victims that their assets were secure, and offering explanations for the payout delays – including falsely claiming to be working with the Securities and Exchange Commission. In addition, the government’s filings in the case describe Karlsson’s attempt to launder the proceeds of his fraud by using multiple aliases and shell companies, layering transactions through cryptocurrency wallets and exchanges, and using offshore accounts and properties. The government argued in its sentencing memorandum that Karlsson’s cryptocurrency Ponzi scheme is one of the largest such schemes the government knows to have been sentenced. Continue reading “Article: Cryptocurrency Fraudster Sentenced To 15 Years For Money Laundering And Securities Fraud In Multi-Million Dollar Investment Scheme”

Article: Dark Web User Known As “The Bull” Charged In Insider Trading Scheme

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Dark Web User Known As “The Bull” Charged In Insider Trading Scheme

Department of Justice, 09 July 2021

Audrey Strauss, the United States Attorney for the Southern District of New York, and William F. Sweeney Jr., Assistant Director-in-Charge of the New York Field Office of the Federal Bureau of Investigation (“FBI”), announced today the unsealing of a criminal indictment and a criminal complaint charging APOSTOLOS TROVIAS, a/k/a “The Bull,” with securities fraud and money laundering in connection with his scheme to solicit and sell stock trading tips and pre-release earnings and deal information regarding public companies.

Manhattan U.S. Attorney Audrey Strauss said: “Today’s charges demonstrate our Office’s continuing commitment to stopping those who pursue and use inside information to gain an illegal edge in the stock market. As alleged, Apostolos Trovias attempted to hide his insider trading scheme behind anonymizing software, screennames, and bitcoin payments. The Indictment and Complaint unsealed today show that committing insider trading using new technologies still produces a decidedly traditional outcome: a criminal indictment.” Continue reading “Article: Dark Web User Known As “The Bull” Charged In Insider Trading Scheme”

Article: China targets offshore IPO structure, to require ministry approval -sources

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China targets offshore IPO structure, to require ministry approval -sources

Reuters, 09 July 2021

China’s securities regulator is setting up a team to review plans by Chinese companies for initial public offerings (IPOs) abroad, sources with knowledge of the matter said, including those using a corporate structure which Beijing says has led to abuse.

Chinese companies looking to list offshore will also need approval from the relevant ministry, the sources told Reuters, in a break from a decades-old arrangement that did not require them to seek a formal go-ahead from any authorities in China. Continue reading “Article: China targets offshore IPO structure, to require ministry approval -sources”

GTII and FNGR disgusting trading from yesterday

Commentary

Alert Reader writes in:

GTII.. The stock was trading like a normal stock even with all the naked shorting going on Then they sold 55,000 at the market down from $1.55 ot

$1.37 Just to try and get longs to panic. Who takes a $10K just to do that? A naked short in Huge trouble, Anyway they changed the price for a few and buyers

Stepped back in to close it back to $1.47 instead of a day ion the Black we closed in the Red down a penny To longs a nonevent day BUT the short is 1000%

In a panic They sold 166,000 more our of 233,000 that traded. another BIG short day. 72,000,000 is my final # why change it. I haven’t in weeks

Thats Big enough to make everyone happy when they fold

Working on a conference call with a former SEC enforcement Lawyer. Who I was told has spread our story to many People who Like to know fraud. ( GTII story is 100% is being told in DC)

I want him to tell all of you NOT from me. Working on it. Will keep you up

NOW if you thought GTII was manipulated yesterday this is even better

FNGR I knew buyers who were paying up to $6.50 like 15K. The naked short sold it to them and then the NEXT

OFFER in the stock was $5.33 on 13,000 down over $1.10 Think about that That The offer was taken and even

I had enough money To buy 84 shares at $5.33 to join in the fun. Then the stock moved back up

and closed at $6.25

THE NAKED SOLD 52,000 out of 61,000 that traded or 85.5%. Watching it was insane

I do believe. The naked short in Both GTII and FNGR have a margin problem from the new SEC rules

The TRADING tells the story and Its wild for sure When they Fold Both may go at the same time

Lets hope so. Good luck today

Article: Anti-Money Laundering Issues, Robinhood Crypto To Pay Fine

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Anti-Money Laundering Issues, Robinhood Crypto To Pay Fine

Syed Ahad, 08 July 2021

Anti-Money Laundering Issues Robinhood Crypto to Pay $15M fine Over Security to resolve a legal dispute with NYDFS (New York State Department of Financial Services) over charges related to crypto unit’s handling of cybersecurity and anti-money laundering.

The $15 million fine by New York State is the newest in a series of consequences to hit Robinhood. It also highlights the governing risk of operating in the crypto circle. Continue reading “Article: Anti-Money Laundering Issues, Robinhood Crypto To Pay Fine”

Article: GameStop and AMC turn around big on Thursday as retail investors unsubtly remind Wall Street they are going nowhere

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GameStop and AMC turn around big on Thursday as retail investors unsubtly remind Wall Street they are going nowhere

Thornton McEnery, 08 July 2021

Retail traders spent Thursday morning buying the dip created by all the people digging the graves of meme stocks on Tuesday and Wednesday.

Shares of GameStop GME, -0.08% and AMC Entertainment AMC, -3.65% started the holiday-shortened week in something of a nosedive, with both falling sharply from Tuesday morning into midday Thursday before sudden potent rallies fueled by Reddit chatter and Twitter hashtags saw both stocks recover dramatically, and AMC almost erase its weekly loss entirely before falling back a bit in the afternoon. Continue reading “Article: GameStop and AMC turn around big on Thursday as retail investors unsubtly remind Wall Street they are going nowhere”

Article: EU to propose new body to tackle dirty money, documents say

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EU to propose new body to tackle dirty money, documents say

Huw Jones, 08 July 2021

LONDON, July 8 (Reuters) – The European Union will propose a new agency to crack down on money laundering and new transparency rules for transfers of crypto-assets, EU documents showed on Wednesday as the bloc responds to calls for tougher action to fight dirty money.

Europe has come under pressure to step up enforcement of anti-money laundering rules after several countries began investigating Danske Bank over 200 billion euros of suspicious transactions that passed through its tiny Estonian branch between 2007 and 2015. Continue reading “Article: EU to propose new body to tackle dirty money, documents say”

Article: $13.7 million: Atlas VPN adds up the impact of the top 10 most successful blockchain scams

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$13.7 million: Atlas VPN adds up the impact of the top 10 most successful blockchain scams

Veronica Combs, 07 July 2021

If you have been swindled by a blockchain con, the most likely culprit is a fake investment scam, according to an analysis by Atlas VPN. The top 10 most successful currently active blockchain scams have collected $13.7 million so far, the report found.

CryptoMixer.com, a fake Bitcoin tumbler, is the biggest known active blockchain scam in terms of funds collected. This scam has collected 167 payments adding up to $2.5 million. Continue reading “Article: $13.7 million: Atlas VPN adds up the impact of the top 10 most successful blockchain scams”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?