Mia – Page 98 – Financial Treason & Crime

Gog Magog War, 26 April 2016

Recently, a European mega-bank, Deutsche Bank, admitted that it cooperated with other global mega banks to manipulate the gold and silver markets (first link). This story deserves far more coverage and analysis than it has been given in the establishment media. As one reads the links, it is quite evident that the mega-banks rigged the gold and silver markets to suppress the prices of both metals. However, in a conspiracy to manipulate the prices either up or down in the short term, the banking insiders could reap huge illegal profits via such insider trading actions. Continue reading “Article: DEUTSCHE BANK ADMITS BIG BANKS RIGGED GOLD AND SILVER MARKETS”

04/04/201603/10/2021

Article: Overstock Invests $4M In Digital Currency FinTech Firm

Article - Media, Publications

Overstock Invests $4M In Digital Currency FinTech Firm

PYMNTS, 04 April 2016

Overstock’s CEO has a reputation for having an affinity for digital currency — which has been reflected in Overstock’s business plans — and now, the company has taken that vision a step further.

The company announced late last week a $4 million investment in Bitt, a Caribbean-based FinTech firm that aims to help digital currency adoption grow in that region. Continue reading “Article: Overstock Invests $4M In Digital Currency FinTech Firm”

03/21/201603/02/2021

Article: Drugmaker Valeant CEO leaving as investor Ackman joins board

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Drugmaker Valeant CEO leaving as investor Ackman joins board

Reuters, 21 March 2016

Drugmaker Valeant Pharmaceuticals International Inc (>> Valeant Pharmaceuticals Intl Inc) (>> Valeant Pharmaceuticals Intl Inc) said on Monday its chief executive officer is leaving and billionaire investor William Ackman would join the board as it tries to clean up accounting problems and save its business.
(Reuters) – Drugmaker Valeant Pharmaceuticals International Inc (>> Valeant Pharmaceuticals Intl Inc) (>> Valeant Pharmaceuticals Intl Inc) said on Monday its chief executive officer is leaving and billionaire investor William Ackman would join the board as it tries to clean up accounting problems and save its business. Continue reading “Article: Drugmaker Valeant CEO leaving as investor Ackman joins board”

02/09/201603/11/2021

Article: UK Subsidiary of Russian State Bank VTB Reported to Serious Fraud Office Over Vivacom Sale

Article - Media, Publications

UK Subsidiary of Russian State Bank VTB Reported to Serious Fraud Office Over Vivacom Sale

GLOBE NEWSWIRE, 09 February 2016

Empreno Ventures, the owner of the largest Bulgarian telecommunications company Vivacom has reported VTB Capital, the UK arm of the state owned Russian bank, to the Serious Fraud Office for the alleged illegal seizure and sale of the company to a connected party.

The criminal complaint was filed with the Serious Fraud Office last week by lawyers representing InterV and its owner Dmitry Kosarev, who is the principle shareholder in Vivacom.

In a separate legal action Mr Kosarev is suing VTB Capital in London for damages in excess of 143m euros for allegedly selling Vivacom for a price that significantly under represented the true value of the company. Continue reading “Article: UK Subsidiary of Russian State Bank VTB Reported to Serious Fraud Office Over Vivacom Sale”

01/20/201603/11/2021

Article: Asacub Android Trojan: From Information Stealing to Financial Fraud

Article - Media, Publications

Asacub Android Trojan: From Information Stealing to Financial Fraud

Kaspersky Lab, 20 January 2016

With millions of people worldwide using their smartphones to pay for goods and services, 2015 saw cybercriminals exploit this by focusing their efforts on developing malicious financial programs for mobile devices. For the first time, a mobile banking Trojan entered the Top-10 most prevalent malicious programs targeting finances. The Asacub Trojan is yet another example of this worrying trend.

The first version of the Asacub Trojan, discovered in June 2015, was capable of stealing the contact lists, browser history, list of installed apps, sending SMS messages to given numbers and also blocking the screen of an infected device – all standard functions for a typical information stealing Trojan. Continue reading “Article: Asacub Android Trojan: From Information Stealing to Financial Fraud”

01/09/201603/04/2021

Article: SEC settles with hedge fund billionaire Steven Cohen

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SEC settles with hedge fund billionaire Steven Cohen

Renae Merle, 09 January 2016

Billionaire Steven A. Cohen has been in the crosshairs of federal prosecutors for nearly a decade. His hedge fund, SAC Capital, was once one of the most powerful on Wall Street, managing more than $15 billion for investors and producing stellar returns for years.

But prosecutors suspected that SAC’s success was too good to be true.

U.S. Attorney Preet Bharara in Manhattan once called Cohen’s hedge fund as a “veritable magnet for market cheaters.” When, in 2013, SAC agreed to pay $1.2 billion to settle charges that it tolerated rampant insider trading it was one of the highest-profile successes in the government’s aggressive push against insider trading. Continue reading “Article: SEC settles with hedge fund billionaire Steven Cohen”

01/08/201603/04/2021

Article: SEC Settles for Two-Year Bar in Steve Cohen ‘Failure to Supervise’ Case

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SEC Settles for Two-Year Bar in Steve Cohen ‘Failure to Supervise’ Case

Bruce Carton, 08 January 2016

The SEC announced today that it has settled its high-profile lawsuit against hedge fund manager Steven A. Cohen, founder of SAC Capital. Under the Order resolving the case, Cohen will be prohibited from supervising funds that manage outside money until 2018. The SEC had charged Cohen with failing to supervise former portfolio manager Mathew Martoma, who was convicted of insider trading while employed at SAC. Continue reading “Article: SEC Settles for Two-Year Bar in Steve Cohen ‘Failure to Supervise’ Case”

01/08/201603/04/2021

Article: Hedge fund billionaire Cohen settles with SEC after years of being investigated

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Hedge fund billionaire Cohen settles with SEC after years of being investigated

Anthony Noto, 08 January 2016

Authorities have spent almost a decade trying to corner Steven Cohen on insider trading charges. Today, the hedge-fund billionaire settled the long-standing case with the U.S. Securities and Exchange Commission.

The result: Cohen has been barred from managing client money until 2018. The settlement determined that the hedge fund manager failed to supervise an employee, Mathew Martoma, who was convicted of insider trading. The SEC ruled that Cohen’s family office must bring on an independent consultant to review their activity to make sure they remain compliant with securities laws. Continue reading “Article: Hedge fund billionaire Cohen settles with SEC after years of being investigated”

01/08/201603/04/2021

Article: In Insider Trading Settlement, Steven Cohen Will Be Free to Manage Outside Money in 2 Years

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In Insider Trading Settlement, Steven Cohen Will Be Free to Manage Outside Money in 2 Years

Matthew Goldstein and Alexandra Stevenson, 08 January 2016

Steven A. Cohen, the billionaire investor, is walking away largely unscathed from nearly a decade of investigations by federal prosecutors and securities regulators into accusations of insider trading at his former hedge fund.

On Friday, Mr. Cohen reached a deal with the Securities and Exchange Commission that will bar him from managing money for outside investors for the next two years. That is a far cry from the lifetime ban that securities regulators sought when they filed an administrative case against him more than two years ago. Continue reading “Article: In Insider Trading Settlement, Steven Cohen Will Be Free to Manage Outside Money in 2 Years”

01/08/201603/04/2021

Article: Steven Cohen Settles Insider Trading Case with SEC

Article - Media, Publications

Steven Cohen Settles Insider Trading Case with SEC

Steven Cohen, the billionaire investor known as the hedge-fund king, has reached an agreement with federal securities regulators that will bar him from managing the money of his clients until 2018.

For Cohen, the longtime focus of a federal insider-trading investigation, the agreement with the Securities and Exchange Commission saves him from a lifetime ban from the industry, an outcome the agency had previously sought.

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12/23/201503/08/2021

Article: Patrick M. Byrne CEO of overstock.com

Article - Media, Publications

Patrick M. Byrne CEO of overstock.com

yosuccess, 25 December 2015

Born in 1962 – Patrick M. Byrne is the CEO of most trustworthy online venture – OverStock.com. He is the son of Jack Byrne, who had built the GEICO insurance empire, and a protégé of Warren Buffet. Under Patrick’s leadership, OverStock.com saw a rise from $1.8 million in 1999 to $760.2 million in 2007, and now $1.5 Billion (FY 2014) in overall revenues.

Since the time Patrick has taken over Overstock.com in 1999, he has been the centre of attraction amongst almost all the media outlets including the Wall Street Journal, ABC News, Fortune, CBS Marketwatch, BusinessWeek, etc…. Continue reading “Article: Patrick M. Byrne CEO of overstock.com”

12/21/201503/10/2021

Article: Patrick Byrne’s warning about R3’s blockchain consortium

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Patrick Byrne’s warning about R3’s blockchain consortium

Michael del Castillo, 21 December 2015

The CEO of Overstock.com last week warned that a consortium of the world’s largest banks could be used to make sure the blockchain, a new way to track value exchanges, is controlled by the existing powers.

Speaking at the Blockchain Agenda San Diego, Patrick Byrne warned that New York City-based R3CEV, a consortium of 42 global banks, could stifle innovation, according to an InsideBitcoin’s report Friday. Continue reading “Article: Patrick Byrne’s warning about R3’s blockchain consortium”

12/17/201503/13/2021

Article: Six former UBS forex staff banned by Swiss watchdog

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Six former UBS forex staff banned by Swiss watchdog

Silke Koltrowitz, Steve Slater, Kirstin Ridley, 17 December 2015

Six former UBS managers and traders have been banned for up to five years for alleged manipulation of foreign exchange and precious metals markets in the first sanctions handed out by authorities in a global investigation. Continue reading “Article: Six former UBS forex staff banned by Swiss watchdog”

12/02/201503/20/2021

Article: UK banks may face another £40 billion in fines for misconduct, Bank of England warns

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UK banks may face another £40 billion in fines for misconduct, Bank of England warns

Nick Goodway, 02 December 2015

British banks may see their bill for past misconduct rise by another £40 billion, the Bank of England has warned.

The figure, which was included in the central bank’s stress test results on Tuesday, is virtually double what banks have already set aside to cover the cost of historic crimes and misdemeanours.

The Bank explained that while the extra £40 billion was “not a central projection for future misconduct costs”, it had been arrived at using the best available information.

It said: “Bank staff have generated these ‘stressed’ estimates for additional misconduct costs drawing on information provided by participating banks as well as other sources – including, for example, public reports of legal proceedings involving potential bank misconduct issues.”

The stress test assumed that £30 billion of the extra misconduct charges would fall in the first two years of the five-year scenario played out in the simulation.

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10/20/201503/03/2021

Article: Northwest: Analysis of a Coordinated Short Selling Attack Against the Stock (NWBO, $4.69)

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Northwest: Analysis of a Coordinated Short Selling Attack Against the Stock (NWBO, $4.69)

LARRY SMITH, 20 October 2015

Again I can see some people scoffing at my suggestion of such broad based criminal actions but consider the following. Martin Martola of SAC Capital was sentenced to 9 years in prison because he had paid one of the primary investigators in the phase 3 trial of Elan’s bapineuzumab in Alzheimer’s disease to learn of results before they were made publicly available. The clinical trial investigator tipped Martola that the phase 3 trial was unsuccessful and Martola and his employer SAC Capital executed trades that resulted in $275 million of profits. SAC’s founder Steve Cohen was charged with the same crime, but Martola refused to testify against Cohen and he was not indicted. However, SAC made a $1.8 billion settlement for criminal and civil settlements and agreed not to manage outside money. Continue reading “Article: Northwest: Analysis of a Coordinated Short Selling Attack Against the Stock (NWBO, $4.69)”