Article – Media – Page 51 – Financial Treason & Crime

Ben Bartenstein, 03 April 2021

The market meltdown following Turkey’s central-bank shakeup is reviving a longtime debate among the world’s largest money managers and Ivy League economists over the vulnerability of developing nations.

Doomsayers including Man Group Plc, the world’s biggest publicly listed hedge-fund firm, and the Institute of International Finance’s chief economist Robin Brooks warn that the turmoil battering Turkish securities could ripple across emerging markets in a repeat of the 2013 taper tantrum. Yet that gloomy scenario isn’t the dominant narrative in the hallways of Pacific Investment Management Co., BlackRock Inc. and Ashmore Group Plc, which have some of the largest exposures to the nations that might be next in the crosshairs. Continue reading “Article: Man Group Dials Up Short Bets as Turkey Stirs Fragile Five Fears”

04/03/202104/03/2021

Article: Did The NFT Boom Just Burst?

Article - Media, Publications

Did The NFT Boom Just Burst?

TYLER DURDEN, 03 April 2021

Non-fungible tokens, or NFTs, are changing the way we think about art (and other collectibles), and in 2021, investors have started to take notice. As Decrypt writes, in the last year, NFTs have shot to the forefront of the crypto space. The cryptographically-unique tokens make it possible to create real-world scarcity for digital objects, and artists have seized on the opportunity presented by the technology.

“It’s not meaningful to characterize a concept as a financial bubble,” said Chris Wilmer, a University of Pittsburgh academic who co-edits a blockchain research journal. Continue reading “Article: Did The NFT Boom Just Burst?”

04/03/202104/03/2021

Article: Greensill and Gupta’s Intertwined Empires Had for Years Raised Concerns Internally

Article - Media, Publications

Greensill and Gupta’s Intertwined Empires Had for Years Raised Concerns Internally

Alistair MacDonald and Duncan Mavin, 03 April 2021

The business empires of metals magnate Sanjeev Gupta and financier Lex Greensill leaned on each other to fuel their growth. But for years executives and advisers close to both entrepreneurs urged the two men to decouple their businesses, according to people familiar with the matter.

They failed to do so. Now Mr. Greensill’s firm, Greensill Capital, is insolvent, and Mr. Gupta’s conglomerate, GFG Alliance, is scrambling to survive. Continue reading “Article: Greensill and Gupta’s Intertwined Empires Had for Years Raised Concerns Internally”

04/02/202104/17/2021

Article: Robinhood Restricted-Trading Suits Will Play Out In Florida

Article - Media, Publications

Robinhood Restricted-Trading Suits Will Play Out In Florida

Elise Hansen, 02 April 2021

Dozens of lawsuits against stock-trading app Robinhood over its move to block users from buying shares of GameStop and other volatile stocks will be centralized and moved to the Southern District of Florida, the U.S. Judicial Panel on Multidistrict Litigation said.

Panel Chair Karen K. Caldwell said Thursday that even though the suits have varied defendants and legal claims, there’s enough common ground to centralize the cases. Many of the plaintiffs and all of the defendants supported centralization, the order noted. Continue reading “Article: Robinhood Restricted-Trading Suits Will Play Out In Florida”

04/02/2021

Article: Matt Gaetz investigation: Feds examining whether congressman used cash, drugs in soliciting young women

Article - Media, Publications

Matt Gaetz investigation: Feds examining whether congressman used cash, drugs in soliciting young women

Evan Perez, David Shortell, Paula Reid and Pamela Brown, 2 April 2021

WASHINGTON — Federal investigators looking into Rep. Matt Gaetz’s relationships with young women have examined whether any federal campaign money was involved in paying for travel and expenses for the women, a person briefed on the matter said.

Investigators are examining whether the Florida Republican engaged in a relationship with a woman that began when she was 17 years old and whether his involvement with other young women broke federal sex trafficking and prostitution laws, according to that source and another person briefed on the matter. Continue reading “Article: Matt Gaetz investigation: Feds examining whether congressman used cash, drugs in soliciting young women”

04/02/202104/03/2021

Article: ALERT! Ex-Silver Regulator Lands Cushy Rigging Job

Article - Media, Publications

ALERT! Ex-Silver Regulator Lands Cushy Rigging Job

Bix Weir of Road to Roota, 02 April 2021

The “Revolving Door” between the market riggers and the US regulators is the most TOXIC RELATIONSHIP in the history of “Free Markets!” Sick Bastards! Also, we have selected a date for a LIVE SHOW in Phoenix, AZ on May 7th. If you live in the Phoenix area we could use your help arranging the site for the show so reach out to me if you are willing to assist the Roota Family!

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04/02/202104/07/2021

Article: Who (Almost) Killed Home Capital Group?

Article - Media, Publications

Who (Almost) Killed Home Capital Group?

Featured Posts, Investments, 02 April 2021

I am still coming to terms with the collapse in shares of Home Capital. It wasn’t supposed to play out this way. The Canadian alternative mortgage lender saw its shares fall from an all-time high of $54.86 in August of 2014 to a low of $5.85 in May of 2017. At the time, I was working as an analyst at one of Canada’s largest asset managers. I spent 2014 and 2015 following only the Canadian banking sector. I saw the events at Home Capital up close.

The company was in the crosshairs of short sellers for years prior to its 2017 crisis. As an alternative lender in Canada’s frothy housing market, many shorts saw parallels between Home Capital and some of the worst-performing American subprime lenders. Steve Eisman, made famous in Michael Lewis’ The Big Short for his success betting against the US subprime bubble, was one of the first to come out publicly as a bear on Home Capital in 2013. And from there the criticisms continued for years. Continue reading “Article: Who (Almost) Killed Home Capital Group?”

04/02/202104/05/2021

Article: American Acquisition Opportunity Inc. Announces Partial Exercise of Over-Allotment Option in Connection With Its Initial Public Offering

Article - Media, Publications

American Acquisition Opportunity Inc. Announces Partial Exercise of Over-Allotment Option in Connection With Its Initial Public Offering

ACCESSWIRE, 02 April 2021

American Acquisition Opportunity Inc. (NASDAQ:AMAOU)(the “Company”) announced today that it has closed the issuance of an additional 506,002 units pursuant to the partial exercise of the underwriter’s over-allotment option in connection with the company’s initial public offering. The units are listed on the Nasdaq Capital Market (“Nasdaq”) under the ticker symbol “AMAOU”. Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “AMAO” and “AMAOW,” respectively Continue reading “Article: American Acquisition Opportunity Inc. Announces Partial Exercise of Over-Allotment Option in Connection With Its Initial Public Offering”

04/02/202104/03/2021

Article: Deliveroo Debut Declared “Worst IPO In London’s History”, Sign Of Amsterdam’s Growing Dominance

Article - Media, Publications

Deliveroo Debut Declared “Worst IPO In London’s History”, Sign Of Amsterdam’s Growing Dominance

TYLER DURDEN, 02 April 2021

It’s official: the Financial Times (citing an informal polling of anonymous bankers) has declared Deliveroo’s botched London offering the “worst IPO in London’s history.”

As we reported yesterday, shares of the food-delivery competitor, which is struggling to grow market share at all costs in a battle for survival with Uber Eats and “Just Eat Takeaway”, tanked in their public-markets debut, sliding 31% after pricing at the bottom of their range. Bankers immediately started complaining to reporters about being misled by Deliveroo’s bankers, who had initially bragged that the company would price at the high end of the range. The debut, marketed as a major coup for the LSE and London markets, which are struggling for European supremacy with Euronext Amsterdam, more generally, has turned into a major embarrassment for the industry. Continue reading “Article: Deliveroo Debut Declared “Worst IPO In London’s History”, Sign Of Amsterdam’s Growing Dominance”

04/02/202104/03/2021

Article: Israeli pleads guilty to money laundering on dark web, faces 20-year sentence

Article - Media, Publications

Israeli pleads guilty to money laundering on dark web, faces 20-year sentence

Neta Bar, 02 April 2021

Tal Prihar, a 37-year old Israeli living in Brazil, pleaded guilty Wednesday to operating illegal transactions on the darknet, including purchasing firearms, heroin, and other contraband.

According to court documents, Phihar and his partner, another Israeli named Michael Phan, earned $8.4 million through running DeepDotWeb, a website that provided users with direct links to illegal darknet marketplaces. In return, Phihar and Phan received payments from the marketplaces in the form of bitcoin virtual currency.

To conceal the payments, Phihar transferred them from his bitcoin wallet to other accounts he owned in the names of shell companies. Continue reading “Article: Israeli pleads guilty to money laundering on dark web, faces 20-year sentence”

04/02/202104/03/2021

Article: Matt Gaetz Says He Won’t Resign as Pressure Mounts

Article - Media, Publications

Matt Gaetz Says He Won’t Resign as Pressure Mounts

Siobhan Hughes and Sadie Gurman, 02 April 2021

WASHINGTON—Rep. Matt Gaetz (R., Fla.) on Friday said he wouldn’t resign in the face of rising pressure over reports that the FBI has been investigating him since last summer, in part over whether he broke federal sex-trafficking laws.

“Of course not,” Mr. Gaetz said in a text message Friday, addressing whether he would leave office. He declined to say more, citing Good Friday. His lawyer also said Mr. Gaetz wouldn’t step down.

With the House in recess, members have been largely silent about Mr. Gaetz since Minority Leader Kevin McCarthy (R., Calif.) earlier in the week referred to “serious implications” in connection with the Federal Bureau of Investigation inquiry. But in the state capital of Tallahassee, Republicans were already discussing who would replace Mr. Gaetz, people familiar with the conversations said. Continue reading “Article: Matt Gaetz Says He Won’t Resign as Pressure Mounts”

04/02/202104/03/2021

Article: US courts dismiss manipulation allegations involving Bitcoin Cash

Article - Media, Publications

US courts dismiss manipulation allegations involving Bitcoin Cash

Shaurya Malwa, 02 April 2021

US courts dismissed an antitrust lawsuit that alleged prominent investors and individuals schemed to hijack the Bitcoin Cash network, the world’s thirteenth largest crypto network by market cap.

A controversy around Bitcoin Cash

The complaint, amended in March 2020 and filed by crypto company United American Corp (UAC), named Bitcoin Cash proponent Roger Ver, crypto exchange Kraken founder Jesse Powell, BTC mining giant Bitmain and CEO Jihan Wu, and Bitcoin Cash developers Shammah Chancellor and Jason Cox as the alleged participants in the scheme.

UAC first brought its suit in December 2018 and alleging the named individuals had effectively manipulated and devalued Bitcoin and pushed the firm out of the network after it had invested over $4 million. Continue reading “Article: US courts dismiss manipulation allegations involving Bitcoin Cash”

04/02/202104/03/2021

Article: Flourishing Financially: Corporate Finance In Switzerland

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Flourishing Financially: Corporate Finance In Switzerland

RHEA WESSEL, 02 April 2021

Switzerland is reasserting its reputation as a stable and resilient economy in times of turbulence. While markets elsewhere are concerned about overleveraged companies and ballooning public debt, credit and capital markets in Switzerland appear to be quietly ticking along with the reliability of a proverbial Swiss watch.

It is not for nothing that the country and its currency are considered among the safest of havens. After the Alpine republic and its internationally oriented companies weathered the 2008 global financial crisis, the Swiss National Bank (SNB) tackled the relentless appreciation of the Swiss franc by massively intervening in the currency market, opening Switzerland to accusations of currency manipulation.

But it worked. The SNB’s efforts stemmed the franc’s rise, protecting Swiss companies’ competitiveness and creating favorable funding conditions in the country. Corporate bond spreads hardly budged throughout the financial crisis, a stark contrast to the adverse environment CFOs faced in the eurozone and the US. Continue reading “Article: Flourishing Financially: Corporate Finance In Switzerland”

04/02/202104/03/2021

Article: ‘Voltswagen’ April Fools Stunt Could Backfire Spectacularly

Article - Media, Publications

‘Voltswagen’ April Fools Stunt Could Backfire Spectacularly

TooFab Staff, 02 April 2021

Volkswagen said the name change was a joke — but not everybody is laughing.

Volkswagen broke a few April Fools rules with its name change prank this week; namely it not even being April Fools Day, and continuously insisting it wasn’t a prank when called out.

But it may have broken even more serious rules after the stunt caused share prices to soar… leading some business experts to predict an investigation into possible stock market manipulation.

The controversy began on Monday (note: that’s March 29, a good deal short of April 1) when the company “accidentally” leaked an incomplete press release, revealing its intention to change its name to Voltswagen to mark its move towards electric vehicles. Continue reading “Article: ‘Voltswagen’ April Fools Stunt Could Backfire Spectacularly”

04/02/202104/03/2021

Article: Morgan Stanley backs Bitcoin for 12 mutual funds

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Morgan Stanley backs Bitcoin for 12 mutual funds

EXPLICA .CO, 02 April 2021

US investment bank Morgan Stanley has filed an update to its prospectus related to bitcoin (BTC) with the Securities and Exchange Commission (SEC). The institution applied for 12 of its funds to have exposure with the first cryptocurrency.

According to the bank, the funds would have indirect exposure to bitcoin in two ways: through cash-settled futures and through the Grayscale Bitcoin Trust (GBTC), one of the world’s largest trusts focused on digital assets.

On the type of futures that funds can invest in, Morgan Stanley noted: “The only bitcoin futures that a fund can invest in are cash-settled bitcoin futures that are traded on listed futures exchanges. CFTC ‘.

In the document, the bank explains that the Selected funds will be able to invest up to 25% of their assets in bitcoin. The institution also stressed that this type of operation implies a risk of illiquidity since bitcoin futures are not traded so “intensely” because they are relatively new. Continue reading “Article: Morgan Stanley backs Bitcoin for 12 mutual funds”