Ex-CEO of social media startup admits duping investors by claiming company had ‘Shark Tank’ backing
Lukas I. Alpert, 22 July 2021
The former chief executive of a social media startup that pitched itself as a Facebook for small businesses has pleaded guilty to swindling investors using forged documents claiming a “Shark Tank” investor was a backer and that e-commerce platform Shopify wanted to buy the company.
Glen Zinszer, 51, of Liverpool, N.Y., also admitted he had instructed employees of his now-defunct company, Brazzlebox, to create fake user accounts, including for several high-profile people, to make it look to investors like the platform was performing better than it was, federal prosecutors said. Continue reading “Article: Ex-CEO of social media startup admits duping investors by claiming company had ‘Shark Tank’ backing”
Preventing and combating money laundering and terrorist financing has been on the EU’s agenda for more than 30 years. The legal and regulatory framework has been strengthened steadily. But now the European Commission has taken an ambitious step towards beating financial crime by overhauling the current EU anti-money laundering and countering terrorism financing rules.
Even before the Coronavirus pandemic closed bank branches and emptied Wall Street’s once-boisterous trading floors, the digitization of all things finance was well underway. Stock markets trade almost entirely electronically and many of Wall Street’s most valuable companies now provide data, technology and software to the big banks, private equity firms and hedge funds that execute the day’s big trades. Covid only accelerated the push for firms to digitize their businesses and handle an increasingly distributed workforce.
The UK has placed Malta among the list of high-risk countries for money laundering and terrorist financing.
The European Union (EU) has proposed banning anonymous cryptocurrency wallets as part of a new set of amendments to counter money laundering and terrorism.
Ng Yu Zhi claimed he had a get-rich-quick scheme for the ages. It was so, so easy, he allegedly told investors. He would buy physical nickel from Poseidon, an Australian Securities Exchange-listed company, at a discount; then he would sell it to a buyer at a profit.
Federal agents raided the home of a internationally known sports gambler in Plantation, seizing almost $4.3 million in cash, 61 gold bars, five luxury cars and a Miami Heat championship ring, according to federal court documents.
AMC stock (AMC) – Get Report bulls had a day of relief on Tuesday, as they saw the share price soar about 25% after weeks of painful declines. Following positive developments coming from CEO Adam Aron, momentum quickly shifted to the bullish side.
Robinhood said it expects to pay a $30 million penalty in relation to an anti-money laundering probe of its cryptocurrency business, according to an amended S-1 filed with the SEC on Monday.
South Africa’s High Court postponed former South African President Jacob Zuma’s trial on corruption, money laundering and racketeering charges until Aug. 10.
The last month has been pretty rough on AMC Entertainment (NYSE:AMC). The theater chain erased a great deal of its gains over the last few weeks, thanks to slowing momentum in the world of meme stocks. Investors in this highly volatile investing sect have seemingly turned their attention away from large plays like AMC and sent prices tumbling. But now, the company is closing a deal that can bring it some crucial revenue over the next few years; two theaters in the Los Angeles area will become AMC theaters, with the chain signing a years-long lease on the locations. As a result, AMC stock is gaining once again. 
Before dark pools, institutional investors had to trade in blocks of shares outside trading hours to avoid upsetting the market. Now, the utility found within dark pools is so high that some market makers have embedded them within their operations. There are certainly some benefits here in terms of increased liquidity, but there’s another side of the coin as well.
Citigroup Inc., Barclays Plc, and other top banks got a federal appeals court in Manhattan on Monday to uphold their win against antitrust claims over an alleged scheme to rig the multitrillion-dollar market for bonds backed by foreign governments and multinational institutions.
There has been an increase of banks and credits unions that have spoken on working with cannabis businesses. In recent times reports have come out about how these financial institutes have remained stable over the last quarter. This updated info has come from published federal data.