Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
Oriental Financial Services Corp. Fined by FINRA
13 May 2019
An AWC was issued in which the firm was censured and fined $20,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it included language conditioning the settlement of two arbitration proceedings on the customers’ agreements to consent to, and not to oppose, expungement of their claims from the CRD® system.
PMC Increases Goal to $60 Million with $1 Million Challenge from Patrick Byrne
Pan-Mass Challenge, 13 May 2019
After 20 years away, Patrick Byrne returned to the Heavy Hitter stage Friday night and did what he does best: he raised the ante. At the close of his comments to 700 Heavy Hitters assembled at the InterContinental Boston, Byrne declared that if the PMC raises $60 million – $2 million more than the posted $58 million goal – he would kick in an additional $1 million! The crowd voted “yes” with their applause. Continue reading “Article: PMC Increases Goal to $60 Million with $1 Million Challenge from Patrick Byrne”
FIS Brokerage & Securities LLC Fined by FINRA
7 May 2019
An AWC was issued in which the firm was censured and fined $25,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it submitted Reportable Order Events (ROEs) to the Order Audit Trail System (OATS™) that contained inaccurate, incomplete, or improperly formatted data. The findings stated that the firm used a platform for its OATS reporting that was provided by a third-party vendor. The OATS violations were caused by system errors that developed when the firm’s vendor made changes to its platform. The errors were later remediated.
PRNewswire, 07 May 2019
Prescience Point Capital Management, LLC, a private investment management firm, together with certain investment partnerships under its management (collectively, “Prescience Point”), today announced that it has nominated a slate of four world-class candidates for election to the MiMedx Group, Inc. (“MiMedx” or the “Company”) (Ticker: MDXG) Board of Directors (the “Board”) at the Company’s upcoming Annual Meeting of Shareholders (the “Annual Meeting”), scheduled to be held on June 17, 2019. Prescience Point, together with its director nominees, owns approximately 9.98% of the common stock of MiMedx. Continue reading “Article: Prescience Point Nominates Slate of Highly-Qualified Director Candidates for Election to MiMedx Board”
Silver Law Group, 07 May 2019
Village Farms International, Inc. (VFF), a publicly-traded vertically-integrated greenhouse grower of produce and cannabis, is being investigated by Silver Law Group concerning potential securities laws violations as well as violations by the selling stockbrokers. If you are an investor and have suffered a loss with this company, you may be able to recover some of your losses. Already publicly-traded in Canada, Village Farms started trading on the Nasdaq under the symbol “VFF” in February, 2019.
On April 16, 2019, Citron Research released a report that stated that the SEC should investigate Village Farms. The report alleged that when Village Farms entered into a joint venture with Emerald Health Therapeutics and Pure Sunfarms to get into the cannabis market, it “moved to the dark side by partnering with shady stock promoters that have a track record of failed businesses and [joint ventures] while insiders at both Village Farms and Emerald Health have dumped stock.”
Continue reading “Article: Silver Law Group Investigating Village Farms International, Inc. (VFF) For Potential Securities Laws Violations”
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of 3M Company – MMM
3 May 2019
On April 25, 2019, 3M reported its financial and operating results for the first quarter of 2019, which fell significantly short of market expectations. 3M announced a $548 million charge in the quarter to resolve current and future litigation, reflecting a reserve of $235 million for “certain environmental matters and litigation” and an additional $313 million to address current and expected coal mine dust lawsuits in Kentucky and West Virginia. The Company also announced plans to cut 2,000 jobs worldwide as part of a restructuring due to a slower-than-expected 2019, and lowered its full-year earnings guidance to a range of $9.25 to $9.75 per share, compared to its prior outlook of $10.45 to $10.90 per share.
In Money Laundering Cover Up Federal Reserve Withholds 133 Pages About BB&T Releases 1 Page
Matthew R. Lee
Inner City Press, 3 May 2019
When BB&T announced a $66 billion proposal to take over Suntrust Bank, which would close a still undisclosed number of branches and extend BB&T disparate lending patterns, many linked it to deregulatory moves in Washington. Then two days after Federal Reserve Governor Lael Brainard was asked by Inner City Press about the Fed’s lax review of previous mergers, including WSFS on which the Fed still hasn’t ruled on the bank’s withholding of information after rubber stamping the deal, the Fed announced public hearings. But the fix it seems it still in.
Midtown Partners & Co., LLC Fined by FINRA
2 May 2019
A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured, fined $50,000 and required to certify to FINRA that it has established and implemented policies, procedures and internal controls reasonably designed to address and remediate the issues identified in the AWC.
Spencer Edwards, Inc. Fined by FINRA
2 May 2019
An OHO decision became final after the firm withdrew its appeal to the National Adjudicatory Council (NAC). The firm was suspended from association with FINRA in all capacities for 45 business days, censured, fined $495,000, ordered to offer rescission to customers, ordered to impose a six-month pre-use filing requirement for all of its communications with customers and required to retain an independent outside consultant to review and revise the firm’s supervisory procedures.
Appeal Court Upholds Dismissal of Abusive Catalyst Lawsuit
West Face Capital Inc. , 02 May 2019
Catalyst’s remaining litigation against West Face involves two claims. The first claim was filed in June 2015 and alleges that West Face defamed Callidus Capital, a public company controlled by investment funds managed by Catalyst, by making defamatory statements between November 2014 and March 2015 regarding the financial prospects of Callidus. Neither Catalyst nor Callidus has engaged in meaningful steps to advance that litigation since at least February 2017. Continue reading “Article: Appeal Court Upholds Dismissal of Abusive Catalyst Lawsuit”
Larry Smith
Smith On Stocks, 29 April 2019
This is the fifth blog in the series that I am writing to describe how illegal naked shorting is used broadly and massively to manipulate the stock prices of (primarily small) companies. I have been studying illegal naked shorting for nearly five years and I have found it to be incredibly complex and disturbingly it is widely practiced on Wall Street. My earlier blogs were intended to build a foundation needed to understand future blogs.
Village Farms International Inc (TSX:VFF): This Famous Investor Thinks it’s a Giant Fraud
Ryan Vanzo, 23 April 2019
Village Farms International (TSX:VFF)(NASDAQ:VFF) stock is riding high from all the cannabis hype. Since 2019 began, shares have exploded higher by more than 300%. The run could be over, however. At least that’s what one famous investor is saying. While you may not have heard of Andrew Left, he is one of the most respected short-sellers today. His firm Citron Research has uncovered countless frauds and scams, profiting handsomely after the stocks take a dip. Recently, Left has set his targets on Village Farms. Here’s what he discovered.
Continue reading “Article: Village Farms International Inc (TSX:VFF): This Famous Investor Thinks it’s a Giant Fraud”
Larry Smith
Smith On Stocks, 17 April 2019
I worked on Wall Street as an analyst for nearly 40 years and was involved in the stock market on a day to day basis. Throughout this time, I was focused on fundamental developments that would give an insight into the potential for a company to grow its sales and profits and then trying to translate that into future stock performance. Like many investors, I believed that this was the overarching factor in predicting future stock performance. I had no inkling and I would have been shocked if someone had told me ten years ago what the experience of the past decade has taught, i.e., in many, many cases (particularly for small companies) fundamentals are not the most important factor determining the stock price.
Deutsche Bank faces action over $20bn Russian money-laundering scheme
Luke Harding, 17 April 2019
Germany’s troubled Deutsche Bank faces fines, legal action and the possible prosecution of “senior management” because of its role in a $20bn Russian money-laundering scheme, a confidential internal report seen by the Guardian says.
The bank admits there is a high risk that regulators in the US and UK will take “significant disciplinary action” against it. Deutsche concedes that the scandal has hurt its “global brand” – and is likely to cause “client attrition”, loss of investor confidence and a decline in its market value.
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
