Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds
Heather Vogell
ProPublica, 15 May 2020
Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of another mortgage collapse.
The Fed scolded Deutsche Bank for money-laundering protections, new report says
Ben Winck
Business Insider, 14 May 2020
The Federal Reserve recently lambasted Deutsche Bank for loose controls as the firm looks to overhaul its reputation, The Wall Street Journal reported Thursday, citing a person familiar with the matter.
The central bank notified Deutsche Bank in a letter that it had ongoing concerns about the firm’s US money-laundering protections, according to the report. The Fed also criticized the company for not resolving issues that led to its “troubled condition” classification in 2017.
In ‘Cum-Ex’ Crackdown, EBA Tells Supervisors to Look at AML Compliance
KYC360, 13 May 2020
EU banking supervisors must investigate Cum-Ex transactions and other dividend arbitrage schemes as part of their reviews of anti-money laundering (AML) compliance programs, the bloc’s banking authority said Tuesday.
The European Banking Authority (EBA) said in a report that recent surveys of the bloc’s AML and prudential supervisors indicate that member-states “do not share the same understanding of dividend arbitrage trading schemes and the extent to which financial institutions’ handling of the proceeds from these schemes constitutes money laundering.” The handling of funds linked to such schemes “is likely to amount to money laundering, irrespective of where the tax crime took place,” the EBA said.
Crying Foul In Short-Selling Land
Liz Moyer
Forbes, 9 May 2006
An issue once relegated to conspiracy theorists and boiler-room insiders is about to get its 15 minutes in the sun when the Senate Judiciary Committee takes up naked short-selling in a hearing next Wednesday.
The hearing, which was postponed a week because of scheduling (and what was said to be overwhelming media interest), will focus on a brewing controversy that has already generated lawsuits against hedge funds, broker firms and research analysts alleging market manipulation in short-selling certain thinly traded stocks.
Breakwater Trading sues JPMorgan for alleged manipulation of prices of US Treasury futures
Maria Nikolova
FinanceFeeds, 6 May 2020
Breakwater Trading LLC has launched a civil lawsuit against JPMorgan Chase & Co. (NYSE:JPM), JP Morgan Clearing Corp., JP Morgan Securities LLC, and JP Morgan Securities LLC, accusing them of manipulating the US Treasuries futures market. The complaint, seen by FinanceFeeds, was filed on May 5, 2020, with the New York Southern District Court.
5 May 2020
Pomerantz LLP is investigating claims on behalf of investors of Velocity Financial, Inc. (“Velocity” or the “Company”) (NYSE: VEL). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Velocity and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
5 May 2020
Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed against Groupon, Inc. (“Groupon” or the “Company”) (NASDAQ: GRPN) in the United States District Court for the Northern District of Illinois on behalf of those who purchased or acquired the securities of Groupon between November 4, 2019 and February 18, 2020, inclusive (the “Class Period”).
4 May 2020
Law Offices of Howard G. Smith continues its investigation on behalf InnerWorkings, Inc. (“InnerWorkings” or “the Company”) ( INWK) investors concerning the Company and its officers’ possible violations of federal securities laws.
4 May 2020
Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Oregon on behalf of purchasers of the American Depositary Receipts (“ADR’s”) of Canaan Inc. (NASDAQ: CAN) pursuant and/or traceable to the Company’s initial public offering (“IPO”) commenced on or about November 20, 2019.
Interactive Brokers Violation Tracker
Parent Company Name: Interactive Brokers Group
Ownership Structure: publicly traded (ticker symbol IBKR)
Headquartered in: Connecticut
Major Industry: financial services
Specific Industry: stock brokerage
Penalty total since 2000: $1,256,000
Number of records: 5
David Einhorn started his career with the hedge fund Siegler, Collery & Co. in 1993. In 1996, Einhorn founded Greenlight Capital Inc. with Jeffrey Keswin. The firm began with less than $1 million, and as of 2017, the firm had close to $10 billion assets under management. However, as of July 2018, after more than ten years of winning on Wall Street, investors estimate that Greenlight Capital has shrunk to about $5.5 billion in assets under management, reported The Wall Street Journal. Frustrated clients are pulling their investments from the firm.
1 May 2020
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Carnival Corporation & Plc (“Carnival” or “the Company”) (NYSE:CCL) for violations of the securities laws.
1 May 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 Southern District of New York on behalf of investors that purchased SCWorx Corp. (NASDAQ: WORX) securities between April 13, 2020 and April 17, 2020 (the “Class Period”). Investors have until June 29, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Summit Therapeutics (SMMT) Receives a Buy from H.C. Wainwright
Austin Angelo
AnalystRatings, 1 May 2020
H.C. Wainwright analyst Ed Arce maintained a Buy rating on Summit Therapeutics (SMMT – Research Report) today and set a price target of $4.00. The company’s shares closed last Thursday at $3.75.
According to TipRanks.com, Arce is a 5-star analyst with an average return of 14.2% and a 41.9% success rate. Arce covers the Healthcare sector, focusing on stocks such as Entasis Therapeutics Holdings, Madrigal Pharmaceuticals, and Collegium Pharmaceutical.
H.C. Wainwright Keeps Their Buy Rating on Insmed (INSM)
Jason Carr
AnalystRatings, 1 May 2020
H.C. Wainwright analyst Andrew Fein maintained a Buy rating on Insmed (INSM – Research Report) today and set a price target of $52.00. The company’s shares closed last Thursday at $23.00.
According to TipRanks.com, Fein is a 5-star analyst with an average return of 7.7% and a 46.1% success rate. Fein covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, Constellation Pharmaceuticals, and Proteostasis Therapeutics.
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
