#UNRIG Video (8:40) Robert Steele on Media Misinformation $100 Trillion in Wall Street Money Laundering, Trump Advantage
VideoArticle: JPMorgan allegedly helped Russian mafia launder funds – FinCEN leak
Article - Media, PublicationsJPMorgan allegedly helped Russian mafia launder funds – FinCEN leak
Stephen Rae, 20 September 2020
The FinCEN Files leak show JP Morgan in London was suspected of helping Russian mafia ‘capo di capi’ or boss of bosses to launder more than a $1BN.
Semion Mogilevich – who has appeared in the FBI’s 10 Most Wanted list – has been accused of crimes including murder, drugs smuggling and gun running.
Given his background he should not have been allowed to use the financial system, but a SARs filed by JP Morgan in 2015 after the account was closed, reveals how the bank’s London office may have moved some of the cash.
The FinCen Files is a data dump leak of internal US Treasury Department documents which apparently show how major banks allowed criminal suspects to launder dirty money around the globe. Notably, the leak shows London is often the weak link in the financial system and how London is awash with Russian cash.
The leak of documents from the Treasury Department show how JP Morgan, provided banking services to a secretive offshore company called ABSI Enterprises between 2002 and 2013, even though the firm’s ownership was not clear from the bank’s records, the BBC reported.
Over one five-year period, JP Morgan sent and received wire transfers totalling $1.02bn, the broadcaster revealed.
The bank’s SAR noted ABSI’s parent company “might be associated with Semion Mogilevich – an individual who was on the FBI’s top 10 most wanted list”.
In a statement to the BBC, JP Morgan said: “We follow all laws and regulations in support of the government’s work to combat financial crimes. We devote thousands of people and hundreds of millions of dollars to this important work.”
The files were obtained by BuzzFeed News which shared them with the International Consortium of Investigative Journalists (ICIJ) – image above from www.ICIJ.org – and 400 journalists around the world. The Panorama investigation programme led research for the BBC.
Article: Dirty Money, Criminal Cash: Bank Leaks Allege Vast Scale of Global Fraud
Article - Media, PublicationsDirty Money, Criminal Cash: Bank Leaks Allege Vast Scale of Global Fraud
Henry Ridgwell, 20 September 2020
Leaked documents allege that some of the world’s largest banks have allowed $2 trillion worth of suspicious or fraudulent activity to take place, including money laundering for criminal gangs and terrorists.
The so-called “FinCEN Files” consist of more than 2,000 Suspicious Activity Reports, or SARs, sent by banks to the U.S. Treasury, alerting the authorities to possible criminal activity, from 1999 and 2017. The files were leaked to Buzzfeed and shared with a global network of investigative journalists. Continue reading “Article: Dirty Money, Criminal Cash: Bank Leaks Allege Vast Scale of Global Fraud”
Article: FinCEN Files: HSBC moved Ponzi scheme millions despite warning
Article - Media, PublicationsFinCEN Files: HSBC moved Ponzi scheme millions despite warning
FinCEN Files reporting team, 20 September 2020
Britain’s biggest bank moved the money through its US business to HSBC accounts in Hong Kong in 2013 and 2014. Its role in the $80m (£62m) fraud is detailed in a leak of documents – banks’ “suspicious activity reports” – that have been called the FinCEN Files.
HSBC says it has always met its legal duties on reporting such activity. The files show the investment scam started soon after the bank was fined $1.9bn (£1.4bn) in the US over money laundering. It had promised to clamp down on these sorts of practices. Continue reading “Article: FinCEN Files: HSBC moved Ponzi scheme millions despite warning”
Article: Investor Alert: Kaplan Fox Investigates Nano-X Imaging For Potential Securities Fraud
Article - Media, PublicationsInvestor Alert: Kaplan Fox Investigates Nano-X Imaging For Potential Securities Fraud
PRNewswire, 18 September 2020
Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Nano-X Imaging Ltd. (“Nano-X” or the “Company”) (NASDAQ: NNOX). A complaint has been filed on behalf of investors who purchased the publicly traded securities of Nano-X between August 21, 2020 and September 15, 2020, inclusive (the “Class Period”).
According to the complaint, Nano-X’s securities began trading on the NASDAQ on August 21, 2020. Continue reading “Article: Investor Alert: Kaplan Fox Investigates Nano-X Imaging For Potential Securities Fraud”
Article: China emerging as a global hub for money laundering operations
Article - Media, PublicationsChina emerging as a global hub for money laundering operations
Vaishali Basu Sharma, 18 September 2020
The Income Tax Department conducted raids in the National Capital Region in August and found that some Chinese individuals, with fake Indian passports, were engaged in large scale money laundering operations. In July, China’s presidency of the Financial Action Task Force (FATF) expired. With nearly one trillion dollars’ worth illicit financial outflows over a decade, China was hardly in a position to set the agenda for international anti-money laundering. Around the globe, multiple money-laundering operations reveal the systemic involvement of Chinese individuals and entities. In a sophisticated attempt to target competitive economies, the rich in China are channelling illicit cash through anonymous shell companies. They are engaging in wholesale money laundering, drug-smuggling, sanctions-busting, and market-distorting schemes. China has, in fact, emerged as the global hub for money laundering, not just for the Chinese but for criminals around the world. Continue reading “Article: China emerging as a global hub for money laundering operations”
Article: Fines Imposed on Foreign Investors Engaged in Naked Short Selling
Article - Media, PublicationsFines Imposed on Foreign Investors Engaged in Naked Short Selling
Yoon Young-sil, 18 September 2020
The Securities and Futures Commission has decided to impose a fine of 730 million won on four foreign asset management companies and pension funds that conducted naked short selling. The Korea Exchange detected the violation of the law prohibiting it during regular market monitoring.
Short selling is to sell a stock and then buy it back at a lower price. Stock borrowing must precede selling according to the current law on short selling.
According to the Financial Services Commission, the four organizations were wrong about whether they concluded stock borrowing contracts or were in possession of stocks and placed sell orders without owning or borrowing stocks. This occurred before the implementation of the temporary short selling ban in March this year.
Article: The Mysterious London Traders Accused of Manipulating Oil Markets — and the Anonymous Hedge Fund, Rare-Coin Expert, and Day Traders Who Are Fighting Back
Article - Media, PublicationsLeah McGrath Goodman, 17 September 2020
Robert Mish is not an oil trader. He’s a numismatist — an expert in rare coins, precious metals, and currencies. Growing up in Brooklyn, he began by collecting stamps and playing cards at the age of four. From there, he moved on to coins and, eventually, valuable antiquities, heading out to California to start his own business in Menlo Park, Mish International Monetary. He traveled the world attending coin shows and became an authority on commodities such as gold, silver, platinum, and palladium, writing and contributing to a number of books.
This year, two months after his 73rd birthday, Mish found himself trading U.S. crude oil futures at perhaps their most inopportune moment: On April 20, the price of oil fell to zero — and kept falling. Mish, an expert in commodities, was holding ten oil contracts as the market went over the edge.
After 50 years of inspecting currencies and stores of value from the Americas to Europe to Asia, Mish can also claim another expertise: He is an expert in counterfeit detection. That day, as he watched his oil trades go south, he picked up the phone and called one of the best market-manipulation lawyers in the country.
Article: Gravity, Fraud, and Prostitutes?
Article - Media, PublicationsGravity, Fraud, and Prostitutes?
Jimmy Mengel, 17 September 2020
That’s exactly what Hindenburg Research accused Nikola Motors (NASDAQ: NKLA) of in a scathing short report last week called Nikola: How to Parlay An Ocean of Lies Into a Partnership With the Largest Auto OEM in America. The high-flying electric car company — which has seen 200% gains in the last six months — was called an “intricate fraud” and the once-skyrocketing stock came crashing back down to Earth: That’s a 32% drop in a week after rallying from the historic partnership with General Motors (NYSE: GM). The “Big Three” American automaker took an 11% stake in the company worth $200 billion in equity. It appeared as if the old guard had merged with the new one in an alliance to take on Elon Musk’s Tesla crown.
Continue reading “Article: Gravity, Fraud, and Prostitutes?”
Article: FCA bans trader for market manipulation
Article - Media, PublicationsFCA bans trader for market manipulation
Daniela Esnerova, 16 September 2020
The FCA has banned “experienced trader” and portfolio manager Corrado Abbattista from performing any functions in relation to regulated activity for market abuse.
The regulator has also imposed a fine of £100,000 on Abbattista, who is a partner and chief investment officer at Fenician Capital Management.
In its decision notice, the FCA said it considers that between 20 January and 15 May 2017, Abbattista repeatedly placed in the market large misleading orders for contract for differences, referenced to equities, which he did not intend to execute.
“At the same time, he placed smaller orders that he did intend to execute on the opposite side of the order book to the misleading orders,” the regulator wrote. Continue reading “Article: FCA bans trader for market manipulation”
Article: UK watchdog plans to fine London trader for market manipulation
Article - Media, PublicationsUK watchdog plans to fine London trader for market manipulation
Reuters Staff, 16 September 2020
Britain’s Financial Conduct Authority (FCA) said on Wednesday it would impose a 100,000-pound fine on a London trader for market abuse and prohibit him from performing any functions related to regulated activity.
Corrado Abbattista, partner and chief investment officer at Fenician Capital Management LLP, repeatedly placed “large misleading” orders for Contract for Differences (CFDs), referenced to equities, between Jan. 20 and May 15, 2017, which he did not intend to execute, the FCA said bit.ly/32yIuuk.
At the same time, he placed smaller orders that he did intend to execute on the opposite side of the order book to the misleading orders, the financial regulator added. Continue reading “Article: UK watchdog plans to fine London trader for market manipulation”
Article: Russian ‘Bad Debts’ Banks Expand Fraud Suits Against Ex-Top Managers and Ex-Owners
Article - Media, PublicationsRussian ‘Bad Debts’ Banks Expand Fraud Suits Against Ex-Top Managers and Ex-Owners
Dispute Resolution, 14 September 2020
Russian state-controlled lenders The Bank of Non-Core Assets (Bad Debts), created on the basis of National Bank Trust PJSC, and the bank FC Otkritie continue expending anti-fraud litigations against their Ex-Top Managers and Ex-Owners.
Recently, the lawsuit was filed in the United States against the former founder of financial group Otkritie Holding, Vadim Belyaev. The statement of claim entered the electronic database of the court in the New York area of Manhattan. Continue reading “Article: Russian ‘Bad Debts’ Banks Expand Fraud Suits Against Ex-Top Managers and Ex-Owners”
Article: Who is Steve Cohen? The Connecticut billionaire buying the New York Mets is a lifelong fan, an avid art collector and was embroiled in an insider trading scandal
Article - Media, PublicationsWho is Steve Cohen? The Connecticut billionaire buying the New York Mets is a lifelong fan, an avid art collector and was embroiled in an insider trading scandal
The news that Connecticut billionaire Steve Cohen is purchasing a majority stake in the New York Mets has invigorated the team’s fans, who hope an owner with deep pockets can turn around the fortunes of a team that has made the playoffs just twice in the past decade.
Cohen would be the wealthiest owner across all the major sports leagues, but who is he? The 64-year-old hedge fund manager is chairman and CEO of Point72 Asset Management in Stamford and lives in Greenwich.
Article: Northern Dynasty calls JCap report ‘fatuous, flimsy and self-serving’
Article - Media, PublicationsNorthern Dynasty calls JCap report ‘fatuous, flimsy and self-serving’
MINING.COM Staff Writer, 11 September 2020
In a report titled Pretend and Extend – The No Return Deposit, New York-based JCap this week accused Northern Dynasty management of “gaslighting investors” over its giant Alaska copper and gold Pebble project and said the mine plan “is on its face absurd.”
“We believe Northern Dynasty has crafted a money-losing mining plan to achieve government approvals. Since management is bonused on lobbying success instead of for producing minerals, NAK has no reason to care that the new plan is irrational: we think it will lose money, leave investors with a stranded asset, and be canceled anyway if Joe Biden is elected,” JCap said in its report.
Continue reading “Article: Northern Dynasty calls JCap report ‘fatuous, flimsy and self-serving’”
Article: Shareholder Alert: Robbins LLP Announces Northern Dynasty Minerals Ltd. (NAK) is Being Sued for Misleading Shareholders
Article - Media, PublicationsBusiness Wire, 09 September 2020
Shareholder rights law firm Robbins LLP announces that a purchaser of Northern Dynasty Minerals Ltd. (NYSE American: NAK) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities & Exchange Act of 1934 between December 21, 2017 and November 25, 2020. Northern Dynasty engages in the exploration of mineral properties in the U.S. Its principal mineral property is the Pebble copper-gold-molybdenum project comprising 2,402 mineral claims that covers approximately 417 square miles in southwest Alaska.
Continue reading “Article: Shareholder Alert: Robbins LLP Announces Northern Dynasty Minerals Ltd. (NAK) is Being Sued for Misleading Shareholders”
