Article: Interpol issues red notice for Guptas and associates

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Interpol issues red notice for Guptas and associates

Jeanette Chabalala, 05 July 2021

Interpol has issued red notices for the Gupta family, according to the National Prosecuting Authority’s Investigative Directorate (ID). In a statement on Monday, advocate Hermione Cronje said efforts to bring back the Guptas had intensified.

“Interpol has issued red notices against: Atul Gupta and his wife, Chetali; Rajesh Gupta and his wife, Arti; Ankit Jain, former Nulane Investment Bank of Baroda account signatory; Ravindra Nath, director of Wone Management (Pty) Ltd; Ramesh Bhat and Jagdish Parekh, the directors of Pragat Investments (Pty) Ltd.” Continue reading “Article: Interpol issues red notice for Guptas and associates”

Article: Coupang faces probe over alleged manipulation of search algorithms

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Coupang faces probe over alleged manipulation of search algorithms

julesmenten, 05 July 2021

According to industry figures with research knowledge, South Korea’s Coupang is being investigated for allegations that it has manipulated search algorithms to prioritize its products over its suppliers’ products.

The Korea Fair Trade Commission conducted an on-the-spot inspection last month at the headquarters of an e-commerce group in Seoul after being accused of abusing market dominance by increasing exposure to its own branded products rather than third parties. went. Continue reading “Article: Coupang faces probe over alleged manipulation of search algorithms”

Article: DeFi May Not Herald Independence Day From Traditional Banking

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DeFi May Not Herald Independence Day From Traditional Banking

PYMNTS, 05 July 2021

Independence Day weekend brings to mind freedom, of course. And before too long, we may have independence from the banks, from the third parties, and from the financial system itself. Or maybe not.

The promise of decentralized finance (DeFi) is that the advent of cryptocurrencies, and perhaps more significantly, blockchain, will eliminate the reliance on the traditional players in financial services. Continue reading “Article: DeFi May Not Herald Independence Day From Traditional Banking”

Article: Are Power Companies Playing Texas Hold’em?

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Are Power Companies Playing Texas Hold’em?

Jinjoo Lee, 05 July 2021

It isn’t even close to the peak of Texas’s sizzling summer season and already the state’s power grid has given out two warnings of tight conditions after a higher-than-usual volume of plants went offline. Wear and tear from the February winter storm is one possible explanation; market manipulation is another. They aren’t mutually exclusive.

Warm weather and low wind output played a role, but what was surprising about the alerts—one in April, the other in June—was the number of power plants that were offline at the same time. On June 14, the Electricity Reliability Council of Texas, the state’s grid operator, said some 11 gigawatts of generation (roughly 15% of that day’s peak load forecast and enough to power 2.2 million homes in the summer) was on forced outage for repairs. In April, Ercot had said roughly 33 GW of generation was out of service for maintenance. Of course, that isn’t entirely surprising after the February disaster that strained the entire system and left millions without power. Continue reading “Article: Are Power Companies Playing Texas Hold’em?”

Article: Companies House: ‘Enabler of illegal activity’

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Companies House: ‘Enabler of illegal activity’

Sarah Wood, 05 July 2021

Many of us routinely use Companies House to check the legitimacy of a business, yet an investigation by The Sunday Times has shown it may not be a reliable source of information.

Every UK business has to be registered with Companies House, but the investigation has revealed that the organisation carries out only basic checks on the information it is given and has no statutory power to verify the accuracy of the information it receives. As a result of the limited checks, UK companies registered with Companies House are involved in money laundering on an industrial scale. Continue reading “Article: Companies House: ‘Enabler of illegal activity’”

Article: Silver Lake AMC Bond Theory Falls Short, but Still Benefits Shareholders

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Silver Lake AMC Bond Theory Falls Short, but Still Benefits Shareholders

Tim Fries, 05 July 2021

Amid heightened margin trading requirements and greater scrutiny on GME/AMC stocks, investors continue to look under every rock for signs of institutional trickery. A theory which was notably gaining attention by retail investors stemming from a recent AMC filing and Silver Lake’s convertible notes was believed to have larger implications than what is now known.

Silver Lake’s AMC Bonds Explained
For the last couple of days, retail investors that comprise the so-called ‘meme’ stock circle of social media have been abuzz with the #AMCBonds hashtag. Although worrying at first, it didn’t quite pan out as vigilant retail traders first framed it. Continue reading “Article: Silver Lake AMC Bond Theory Falls Short, but Still Benefits Shareholders”

Article: Gamestop – AMC, other ‘meme’ stocks jump; regulator signals concern

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Gamestop – AMC, other ‘meme’ stocks jump; regulator signals concern

ALEX LOWE, 04 July 2021

Shares of AMC Entertainment Holdings Inc (AMC.N) and other “meme stocks” jumped on Monday, extending a rally in social-media favorites into a third week as message boards hummed with talk of squeezing Wall Street short-sellers.

The sharp gains prompted the U.S. Securities and Exchange Commission to say it was looking into signs of market manipulation given the “volatility in certain stocks.” The volatility has challenged analysts, and two of them in the past week have stopped covering video game retailer GameStop, whose shares soared in January in a retail-driven rally. Continue reading “Article: Gamestop – AMC, other ‘meme’ stocks jump; regulator signals concern”

Article: Fugitive game fraudster Mehmet Aydın en route to Turkey – Interior Ministry

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Fugitive game fraudster Mehmet Aydın en route to Turkey – Interior Ministry

ahvalnews, 03 July 2021

The fugitive founder of Turkish smartphone game that encouraged users to invest money into a ponzi scheme, defrauding users of millions of dollars will arrive in the country on Saturday evening, the Turkish Interior Ministry said.

Mehmet Aydın, who turned himself in to Brazilian police on Thursday, will arrive in Turkey at 10:30 p.m. local time, Deutsche Welle cited ministry spokesman İsmail Çataklı as saying on Saturday. Continue reading “Article: Fugitive game fraudster Mehmet Aydın en route to Turkey – Interior Ministry”

Article: Cardinal among 10 indicted by Vatican for financial crimes

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Cardinal among 10 indicted by Vatican for financial crimes

REUTERS , 03 July 2021

A prominent Italian cardinal was among 10 people sent to trial in the Vatican on Saturday charged with financial crimes including embezzlement, money laundering, fraud, extortion and abuse of office.

Cardinal Angelo Becciu, formerly a senior official in the Vatican administration, as well as two top officials at the Vatican’s Financial Intelligence Unit will go on trial on July 27 over a multi-million euro scandal involving the Vatican’s purchase of a building in one of London’s smartest districts.
Continue reading “Article: Cardinal among 10 indicted by Vatican for financial crimes”

Article: France begins judicial probe into Rafale deal with India: French media

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France begins judicial probe into Rafale deal with India: French media

outlookindia, 03 July 2021

New Delhi, Jul 3 (PTI) A French judge has been appointed to lead a “highly sensitive” judicial investigation into “suspected corruption” and “favouritism” in the Rs 59,000 crore inter-governmental deal with India for the supply of 36 Rafale fighter jets, French investigative website Mediapart reported.

It said the probe, ordered by France”s national financial prosecutor”s office, is the result of a series of investigative reports into the contract published in April by Mediapart besides a complaint into the allegations by anti-corruption NGO Sherpa.

The report said the judicial investigation was ordered by France”s national financial prosecutor”s office (PNF) following Mediapart”s fresh reports in April of alleged wrongdoings in the deal as well as a complaint filed by French NGO Sherpa that specialises in financial crime.

“A French judge has been appointed to lead a judicial investigation into suspected ”corruption” and ”favouritism” over the 7.8-billion-euro sale to India of 36 Dassault Aviation Rafale fighter aircraft,” Mediapart said.

“The highly sensitive probe into the inter-governmental deal signed off in 2016 was formally opened on June 14th,” it added.

Rafale manufacturer Dassault Aviation and India”s defence ministry previously trashed allegations of any corruption in the contract. India”s Supreme Court too in 2019 dismissed petitions seeking a probe into the deal saying there was no ground for it.

“The criminal investigation, opened on June 14th and led by an independent magistrate, an investigating judge, will, among other elements, examine questions surrounding the actions of former French president François Hollande, who was in office when the Rafale deal was inked, and current French president Emmanuel Macron, who was at the time Holllande”s economy and finance minister, as well as the then defence minister, now foreign affairs minister, Jean-Yves Le Drian,” Mediapart said.

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Article: Pharmacy firms accused of money laundering

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Pharmacy firms accused of money laundering

Shabbir Hussain, 03 July 2021

In a meeting of the Standing Committee on Health chaired by Nisar Ahmed Cheema, MNA Ramesh Lal alleged that some pharmaceutical companies were carrying out money laundering under the disguise of importing raw material while clearly violating laws.

Ramesha Lal, who is also a member of the health committee, said that more than a year has passed since the entire record of the case was sent to DRAP. However, he lamented, the authority has failed to explain it and present the record to the committee. Continue reading “Article: Pharmacy firms accused of money laundering”

Article: Robinhood Says U.S. Demanded Access to CEO Tenev’s Phone Records

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Robinhood Says U.S. Demanded Access to CEO Tenev’s Phone Records

Jesse Westbrook, 02 July 2021

Robinhood Markets Inc., dogged by fines and regulatory scrutiny, revealed several new inquires from state and federal watchdogs as it seeks to sell shares in one of the year’s most anticipated public offerings.

Among the fresh disclosures made in its registration statement: U.S. prosecutors demanded access to Chief Executive Officer Vlad Tenev’s mobile phone, New York is poised to penalize the brokerage for alleged money-laundering lapses and brokerage regulators called it out for not reporting trades. Continue reading “Article: Robinhood Says U.S. Demanded Access to CEO Tenev’s Phone Records”

Article: Insider trading research with Taiwanese vaccine makers reveals broader issues

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Insider trading research with Taiwanese vaccine makers reveals broader issues

bernardblack, 02 July 2021

A survey of insider trading with Taiwan’s Covid-19 vaccine maker raised concerns about Taiwan’s fiscal oversight and involved President Tsai Ing-wen’s administration.

The Taipei-based Shilin District prosecutor’s office said Medigen Vaccine Biologics Corporation after the company’s stake jumped more than 20% in the days before announcing positive results for a phase II vaccine trial in June. He told the Financial Times that he was investigating. The prosecution refused to reveal the details of the investigation. Continue reading “Article: Insider trading research with Taiwanese vaccine makers reveals broader issues”

Article: JOBS ON THE RISE, VIRGIN’S BRANSON FLIES & ROBINHOOD’S LYING EYES

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JOBS ON THE RISE, VIRGIN’S BRANSON FLIES & ROBINHOOD’S LYING EYES

Joseph Hargett, 02 July 2021

That’s right: The Labor Department said this morning that the U.S. economy added a better-than-expected 850,000 jobs in June … and economists are both excited and scared. On one hand, economists praised the strong jobs growth as proof that the economy is continuing to rebound strongly from the COVID-19 pandemic.

“Things are picking up,” said Indeed Economist Nick Bunker. “While labor supply may not be as responsive as some employers might like, they are adding jobs at an increasing rate.” Continue reading “Article: JOBS ON THE RISE, VIRGIN’S BRANSON FLIES & ROBINHOOD’S LYING EYES”

Article: Oklahoma legislators call to investigate alleged lumber price gouging

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Oklahoma legislators call to investigate alleged lumber price gouging

Robert Dalheim, 02 July 2021

OKLAHOMA CITY – A group of Oklahoma state legislators is calling on the state’s attorney general to investigate allegations of price gouging by lumber producers during COVID-19.

“I have one constituent who is looking at an additional $100,000 in costs due to these increases,” state senator Cody Rogers, R-Tulsa, told KFOR News. ” Lumber prices have shot up four to six times higher than what they were about half a year ago. Sheets of oriented strand board that were previously $11 each are now $48 even though they can be manufactured for less than $4 each. It’s outrageous, and it’s hurt individuals and Oklahoma businesses.” Continue reading “Article: Oklahoma legislators call to investigate alleged lumber price gouging”

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