Investigate ‘trash stocks’ manipulation, investors request finance ministry
Dat Nguyen, 16 June 2021
An investors’ association has requested the finance ministry to investigate suspicions that “trash stocks” on the HoSE are being manipulated to several hundred times their actual value. Some of the “trash stocks” are even listed in the VN30 basket which comprises the 30 largest capped stocks on the Ho Chi Minh Stock Exchange (HoSE), the Vietnam Association of Financial Investors (VAFI) said in a statement.
For instance, investors have been asking questions about the surging price of RIC shares of the Royal International Corporation, operator of the largest casino in the northern province of Quang Ninh. Continue reading “Article: Investigate ‘trash stocks’ manipulation, investors request finance ministry”
Two Indian-Americans were among six members of a Silicon Valley trading ring against which the US’ Securities and Exchange Commission has slapped charges for generating nearly USD 1.7 million in illegal profits by trading on the confidential earnings information of two local technology companies.
Police have seized over $70 million – mostly cash – linked to an international pyramid scheme in China and Canada.
The Commonwealth Bank of Australia (ASX: CBA) share price broke a new record high on Wednesday despite being tainted by a money laundering scandal.
Continue reading
On a Saturday morning last December, Bill Ackman was scrolling through Twitter when an article in The New York Times caught his eye. “The Children of Pornhub,” by Nicholas Kristof, told how unauthorized sex — and rape and torture — videos were being spread across the internet on a website called Pornhub, one of the most popular in the world. 
The Ohio House of Representatives voted on Wednesday to expel a powerful Republican lawmaker, nearly a year after he was arrested and charged in a $60 million corruption scheme while serving as House speaker.
Trade-based money laundering and associated tax evasion is big business. Financial losses from these crimes in developing countries totalled $9 trillion between 2008 and 2017. Global trade complexities make tackling this type of money laundering difficult, but not impossible.
MINNEAPOLIS — A bankruptcy trustee’s search to recover assets linked to one of the largest financial crimes in Minnesota’s history has netted $722 million. 
Deutsche Bank AG revamped the units seeking to detect and prevent financial crimes after a number of recent compliance issues risk undermining progress in Chief Executive Officer Christian Sewing’s turnaround plan.
Pressure is growing on financial institutions to toughen their approach to environmental crime, with G7 leaders vowing to crack down on the illicit fund flows supporting wildlife trafficking and campaign groups warning that the activity has morphed from a conservation issue to a financial crime concern.
A currency manager, ECU Group has accused the multinational investment bank, HSBC of fraud and misconduct within its foreign exchange (forex) trading desk between 2004 and 2006. According to a report published by the Financial Times, quoting a hearing at the UK High Court on Monday, an alleged ‘rotten culture’ between such a period allowed bankers to misuse confidential data.
The Electric Reliability Council of Texas on Monday asked residents to reduce their electricity usage through at least Friday due to “tight” power grid conditions. A number of power plants are inexplicably offline at the same time as the state is experiencing record June demand for electricity. 