Category: Publications

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Article: Antelope Enterprise Holdings Ltd – 6-K – CCCL / China Ceramics Co., Ltd FORM 6-K (Current Report of Foreign Issuer) – April 20, 2018

Article - Media, Publications

Antelope Enterprise Holdings Ltd – 6-K – CCCL / China Ceramics Co., Ltd FORM 6-K (Current Report of Foreign Issuer) – April 20, 2018

Fintel, 20 February 2018

On April 19, 2018, China Ceramics Co., Ltd. (the “Company”) entered into a securities purchase agreement (the “Agreement”) with certain individual investors relating to a registered direct offering, issuance and sale (the “Offering”) of an aggregate of 770,299 of its shares (the “Shares”), at a purchase price of $1.56 per share, the closing price of the Company’s equity securities as reported on Nasdaq on the same date. The Shares were offered pursuant to the Company’s previously filed and effective Registration Statement on Form F-3 that was filed with the Securities and Exchange Commission on August 21, 2015, subsequently amended, and declared effective October 15, 2015 (File No. 333-206516). The Company filed a prospectus supplement related to the Offering dated April 19, 2018. Continue reading “Article: Antelope Enterprise Holdings Ltd – 6-K – CCCL / China Ceramics Co., Ltd FORM 6-K (Current Report of Foreign Issuer) – April 20, 2018”

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Article: Russian mafia money laundering trial begins in Spain

Article - Media, Publications

Russian mafia money laundering trial begins in Spain

The trial of a Russian Member of Parliament, Vladislav Reznik, and 17 other suspects started in Madrid’s National Court on Monday.
A number of the suspects are thought to have links to the Kremlin. Mr. Reznik is a member of President Putin’s United Russia party.

The suspects were arrested in 2008, charged with a €50m money-laundering operation linked to Spanish real estate. If found guilty, the suspects are looking at a €100m penalty and five years in jail.

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Article: Why Tucows Inc. Shares Fell 23% in January

Article - Media, Publications

Why Tucows Inc. Shares Fell 23% in January

Anders Bylund, 09 February 2018

In late January 2021, GameStop experienced a once-in-a-decade squeeze that has captivated the world’s attention. It was a premeditated and programmatic exercise, orchestrated by coordinated stock and option buying across the retail and professional community, resulting in large institutional entities losing billions of dollars. Investment houses with significant short positions did not expect a stock with GameStop’s fundamental profile to increase +2,500% in price over less than three weeks; therefore, they did not have the controls in place to handle the incredible levels of stock and call option purchases. The frenzy drew comments from the White House, provoked a social media crackdown, caused brokerage units to restrict trading, and has led to a Congressional hearing on GameStop on Thursday, February 18th.
Continue reading “Article: Why Tucows Inc. Shares Fell 23% in January”

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Article: Here’s Why Shares of Ballard Power Systems Sank 18% in January

Article - Media, Publications

Here’s Why Shares of Ballard Power Systems Sank 18% in January

Scott Levine, 06 February 2018

Shares of Ballard Power Systems (NASDAQ:BLDP), an industry leader in fuel cell solutions, plunged more than 18% last month, according to data provided by S&P Global Market Intelligence. The decline follows a report from Spruce Point Capital that cast a critical eye on the company and assigned a long-term price target for the stock of $1.15 to $2.50. Through 2017, Ballard’s stock had risen 167%, ending the year at $4.41.

Ballard has high hopes for its success in the Chinese market — by providing solutions to bus and truck manufacturers — over the next several years. In fiscal 2016, for example, the company attributed 39% of its revenue to sales there, and forecasts that it will contribute 45% to its top line in fiscal 2020. However, it’s less optimistic about success in other markets, guiding for sales in North America (its second-largest source of revenue) to remain stagnant at 33% from fiscal 2016 to fiscal 2020 and sales in Europe to slide from 22% to 18% during the same period.
Continue reading “Article: Here’s Why Shares of Ballard Power Systems Sank 18% in January”

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Article: ‘Hedge Fund King’ Steven Cohen Gets Back to Business

Article - Media, Publications

‘Hedge Fund King’ Steven Cohen Gets Back to Business

Money Talking, 02 February 2018

Before he was known for an insider trading scandal, Steven Cohen was known as the “hedge fund king,” bringing sky-high returns to clients at his super successful firm, SAC Capital Advisors — and serving as an inspiration for the Showtime series “Billions.”

Now, Cohen is looking to get back into business after a two-year ban on trading other people’s money ended at the start of this year. With his new company, Point72 Asset Management, Cohen is once again courting clients and their billions — up to $4 billion, according to a recent report from Bloomberg. Continue reading “Article: ‘Hedge Fund King’ Steven Cohen Gets Back to Business”

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Article: Deutsche Bank Ordered to Pay $70 Million for Manipulation of USD Swap Rates

Article - Media, Publications

Deutsche Bank Ordered to Pay $70 Million for Manipulation of USD Swap Rates

Finance Magnates Staff, 02 February 2018

The Commodity Futures Trading Commission (CFTC) issued an order directed at Deutsche Bank Securities Inc. (DBSI), to pay a $70 million civil monetary penalty over charges of attempted manipulation of the ISDAFIX benchmark, between 2007 and 2012.

The US Dollar International Swaps and Derivatives Association Fix is a global benchmark, used in the settlement of various interest rate products, including cash settlement of options on interest rate swaps. The allegations indicate that Deutsche Bank and some of its traders intentionally attempted to manipulate the benchmark, in an effort to benefit the bank’s positions. The specific USD ISDAFIX rates and spreads that the bank attempted to alter are the ones issued at 11:00 a.m. Eastern Time each day, and act as a mid-market rate to accommodate settlements across various financial markets. Continue reading “Article: Deutsche Bank Ordered to Pay $70 Million for Manipulation of USD Swap Rates”

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Article: “Junk” explains Wall Street corruption better than most newspapers do

Article - Media

“Junk” explains Wall Street corruption better than most newspapers do

Lucy Komisar

The Komisar Scoop, 1 February 2018

I have been doing investigative journalism about financial and corporate corruption for 20 years. Ayad Akhtar’s play is right on the mark.

It is based on the story of the corrupt junk bond trader Michael Milken. He got confederates to manipulate stocks so he could take over companies to loot and destroy them. It was a scandal of the 1980s. Too bad the market corruption he revealed never stopped.

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Article: Detecting Financial Statements Fraud: The Evidence from Russia

Article - Media, Publications

Detecting Financial Statements Fraud: The Evidence from Russia

Natalia Feruleva, 31 January 2018

Russian stakeholders of joint stock companies, which shares are not traded on a stock exchange, and limited liability companies need the effective instruments which enable them to detect the facts of financial statement fraud quickly because the financial statement remains the main source of information about the companies’ performance for them. Although Institute of Auditors is one of the most reliable tools which identify financial statement manipulations, the costs, connected with audit, are too high and, and as a result, stakeholders have to look for other instruments to distinguish fraudsters, which make an attempt to overestimate or underestimate net assets and financial results, from non-fraudsters. Mathematical model of the American researcher Messod Beneish can be considered as an example of such tools. Continue reading “Article: Detecting Financial Statements Fraud: The Evidence from Russia”

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Article: Key to catching the traders charged with manipulating metals futures: electronic chatter

Article - Media

Key to catching the traders charged with manipulating metals futures: electronic chatter

Francine McKenna

MarketWatch, 30 January 2018

The Commodity Futures Trading Commission announced criminal and civil enforcement actions on Monday against Deutsche Bank AG and Deutsche Bank Securities Inc, UBS AG and HSBC Securities (USA) Inc. and six individuals involved in spoofing and stop loss collusion schemes. The criminal and civil enforcement actions were filed in conjunction with the Department of Justice and Federal Bureau of Investigation’s Criminal Investigative Division.

Deutsche Bank AG and Deutsche Bank Securities Inc. were hit the hardest, agreeing to pay a $30 million penalty while neither admitting or denying they failed to supervise precious metals traders who allegedly schemed to manipulate the price of precious metals futures contracts and allegedly colluding to trigger customer stop-loss orders. The fraud allegedly ran from Feb. 2008 to at least Sept. 2014.

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Web: 5,000 Reasons Why the Overstock.com Saga is Crazier Than Ever

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5,000 Reasons Why the Overstock.com Saga is Crazier Than Ever

Gary Weiss

gary-weiss.com, 30 January 2018

It’s been a long time since the financial press has cast a skeptical eye on Overstock.com and its CEO, Patrick Byrne, Yet there are multiple reasons to do so. Five thousand to be exact. So I’ve dusted off my blog for an update on my favorite fraudulent stock.

As in all soap operas, its continuing story line is not new: Byrne wants the stock to go up. The stock has a history of manipulation, mainly through cooking the books, resulting in multiple restatements. But it takes an expert to sniff out accounting irregularities. All you need to detect the latest Overstock scam is a working pair of eyes and an Internet connection.

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Article: US fines Deutsche Bank, UBS and HSBC over market manipulation

Article - Media, Publications

US fines Deutsche Bank, UBS and HSBC over market manipulation

Agence France-Presse, 30 January 2018

US authorities on Monday announced fines and charges against three major European banks and eight individuals accused of manipulating futures markets for precious metals.

Deutsche Bank, UBS and HSBC will together pay a total of $46.6 million to settle allegations that traders at the banks worked to manipulate futures markets in precious metals through a process known as “spoofing,” the Justice Department and Commodity Futures Trading Commission said.Seven former traders, including ex-UBS trader Andre Flotron, who was indicted last year, as well as a technology consultant, also face charges of “spoofing” — in which traders place and then abort trades to manipulate prices — on markets for various precious metals including gold and silver between early 2008 and about 2014. Continue reading “Article: US fines Deutsche Bank, UBS and HSBC over market manipulation”

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Article: Federal Charges Filed in Price ‘Spoofing’ Inquiry on Wall St.

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Federal Charges Filed in Price ‘Spoofing’ Inquiry on Wall St.

Emily Flitter

New York Times, 29 January 2018

Federal authorities have filed civil and criminal charges against a group of Wall Street banks and individuals that they say tried to manipulate markets in gold, silver and certain financial products, including by showing potential customers fake prices.

The actions, filed over the past several days, are part of a yearslong effort by financial regulators and the Department of Justice to stamp out behavior that gives the biggest banks an advantage over smaller market players.

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Release: CFTC Orders Deutsche Bank to Pay $30 Million Penalty for Manipulation, Attempted Manipulation, and Spoofing In the Precious Metals Futures Markets

Release

CFTC Orders Deutsche Bank to Pay $30 Million Penalty for Manipulation, Attempted Manipulation, and Spoofing In the Precious Metals Futures Markets

CFTC, 29 January 2018

The Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Deutsche Bank AG (DB AG) and Deutsche Bank Securities Inc. (DBSI) (collectively, DB), requiring DB to pay a $30 million civil monetary penalty and to undertake remedial relief. The Order finds that from at least February 2008 and continuing through at least September 2014, DB AG, by and through certain precious metals traders (Traders), engaged in a scheme to manipulate the price of precious metals futures contracts by utilizing a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX), and by trading in a manner to trigger customer stop-loss orders.

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Article: LAKEWOOD: SHORT CELLTRION AND SNOOP-DOGG BACKED WEED FIRM

Article - Media, Publications

LAKEWOOD: SHORT CELLTRION AND SNOOP-DOGG BACKED WEED FIRM

ValueWalk, 29 January 2018

Lakewood Capital Management, the mutl billion dollar hedge fund led by Anthony Bozza, is calling the top of the marijuana stock boom. The firm revealed short positions in two major cannabis companies in its full-year and fourth quarter letter to investors, a copy of which has been reviewed by ValueWalk. The Lakewood hedge fund is short Canopy Growth, and Aurora Cannabis as Bozza and team believe that these pot stocks are highly overvalued and trade no nothing more than hot air.

One Of The Last Remaining Short Only Hedge Funds Warns Of Risk Parity “Liquidity Crash”. “Heading into the final months of 2017, each of these public companies sported market capitalizations that were nearly impossible to rationalize” the letter notes, “but nonetheless, the stocks saw their values more than triple in just a few short weeks around year-end as focus turned to the legalization of recreational marijuana in California on January 1, 2018” it continues.
Continue reading “Article: LAKEWOOD: SHORT CELLTRION AND SNOOP-DOGG BACKED WEED FIRM”

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Article: CFTC Orders Deutsche Bank to Pay $30 Million Penalty for Manipulation, Attempted Manipulation, and Spoofing In the Precious Metals Futures Markets

Article - Media, Publications

CFTC Orders Deutsche Bank to Pay $30 Million Penalty for Manipulation, Attempted Manipulation, and Spoofing In the Precious Metals Futures Markets

CFTC Regulations, 29 January 2018

The Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Deutsche Bank AG (DB AG) and Deutsche Bank Securities Inc. (DBSI) (collectively, DB), requiring DB to pay a $30 million civil monetary penalty and to undertake remedial relief. The Order finds that from at least February 2008 and continuing through at least September 2014, DB AG, by and through certain precious metals traders (Traders), engaged in a scheme to manipulate the price of precious metals futures contracts by utilizing a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX), and by trading in a manner to trigger customer stop-loss orders. Continue reading “Article: CFTC Orders Deutsche Bank to Pay $30 Million Penalty for Manipulation, Attempted Manipulation, and Spoofing In the Precious Metals Futures Markets”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?