Article: LA-Based Actor Charged With Running $227 Million Ponzi Scheme

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LA-Based Actor Charged With Running $227 Million Ponzi Scheme

TYLER DURDEN, 08 April 2021

Zachary Horwitz, a little known LA-based actor, has been arrested by the FBI this week and was charged with running “an enormous ponzi scheme” wherein he represented that he had a successful film distribution company.

The reality was that the actor – who has had some roles in small films – was cheating his investors out of $227 million and using most of the money to fund his own lifestyle, according to the NY Post. Horwitz also “used investor funds to pay in cash for a $5.7 million home in Los Angeles’s Beverlywood neighborhood,” the Wall Street Journal added. Continue reading “Article: LA-Based Actor Charged With Running $227 Million Ponzi Scheme”

Article: ‘A harm-production factory’: Crown casino faces scrutiny over problem gambling

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‘A harm-production factory’: Crown casino faces scrutiny over problem gambling

Ben Butler,  26 March 2021

Triads, shopping bags full of cash, money laundering – if you’ve been following the inquiry into Crown Resorts run by New South Wales authorities, you might think there aren’t many allegations left to be hurled at the casino operator.

But a royal commission into the operation of the James Packer-controlled group’s flagship casino in Melbourne could expose it to fresh attack over a problem its critics have long claimed is rife at the complex: problem gambling.

Opening the inquiry on Wednesday, royal commissioner Ray Finkelstein said there was “no practical utility” in going over the same territory dealt with by the NSW inquiry, which reported to state parliament in February. Continue reading “Article: ‘A harm-production factory’: Crown casino faces scrutiny over problem gambling”

The Largest Fraud In The History Of Financial Markets

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The Largest Fraud In The History Of Financial Markets

As ordinary retail investors rush to acquire physical silver, they are not only “FOLLOWING THE MONEY” in the example of gold and silver grab by central banks, hedge funds, sovereign wealth & family office funds, and high-net worth investors, but also ON A MISSION to force the truth to come out.

John Adams, chief economist at Good As Gold Australia, returns to Liberty and Finance to announce the latest breaking updates in the PHYSICAL SILVER GRAB, which has become a cause and a mission of the little guys and gals to GET REAL, DEMAND TRUE MONEY, and DRAIN THE SWAMP.

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Article: Blackstone rolls the dice with $6.2 billion move on Australia’s Crown Resorts

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Blackstone rolls the dice with $6.2 billion move on Australia’s Crown Resorts

Byron Kaye, Rashmi Ashok, 22 March 2021

Crown shares leapt more than 20% after it disclosed the informal offer on Monday, passing Blackstone’s indicative price of A$11.85 as investors wagered a bigger payment could be in the offing from the world’s No. 1 private equity firm or another suitor.

“It’s nice to get a bid, and now it’s about price discovery,” said John Ayoub, a portfolio manager at Wilson Asset Management, which has Crown shares.

“These stocks are trading at trough earnings and I wouldn’t be surprised to see further activity in the sector.” Continue reading “Article: Blackstone rolls the dice with $6.2 billion move on Australia’s Crown Resorts”

Article: Australia’s banking regulator ends Westpac money laundering probe

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Australia’s banking regulator ends Westpac money laundering probe

Reuters Staff, 12 March 2021

(Reuters) – Australia’s banking regulator said on Friday it had closed the investigation against Westpac Banking Corp for possible breaches of anti-money laundering and counter-terrorism laws.

The bank was first accused of breaching the laws in 2019 by the country’s financial crime watchdog AUSTRAC, which led to parallel probes by corporate regulator ASIC and banking regulator Australian Prudential Regulation Authority (APRA).

In September last year, Westpac was forced to agree to a record A$1.3 billion ($1.01 billion) payment to settle AUSTRAC’s claims.

APRA said on Friday it had closed its investigation after considering the results of the probe by ASIC, which was closed in December last year.

“Although the investigation has not found evidence of breaches … APRA remains determined to ensure Westpac rectifies its risk governance weaknesses effectively and sustainably,” the APRA Deputy Chair John Lonsdale said.

In a separate statement, Westpac acknowledged APRA’s decision to end the probe.

($1 = 1.2844 Australian dollars)

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Article: Millions vanish into crypto world in high-yield bond scam

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Millions vanish into crypto world in high-yield bond scam

Michael Roddan and Jonathan Shapiro, 08 March 2021

Sophisticated British criminals exploited vulnerabilities in Australia’s search engine and cryptocurrency infrastructure to dupe small investors, lured by the promise of high-yield funds badged by some of the finance world’s most trusted brands.

The complex scheme involved stolen identities and fraudulent prospectuses that claimed to represent high-yield investment funds run by global managers Citibank, Nomura, and IFM Investors. It has ensnared millions from unsuspecting victims who sought better returns as interest rates collapsed during the COVID-19 crisis. Continue reading “Article: Millions vanish into crypto world in high-yield bond scam”

Alleged RCMP mole accused of selling secrets to kingpin money launderer and terror-financier’s network

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Alleged RCMP mole accused of selling secrets to kingpin money launderer and terror-financier’s network

Sam Cooper, Global News, 14 January 2021

In October 2014, Canadian intelligence leaders were invited to the U.S. Drug Enforcement Administration’s headquarters in Chantilly, Va. The DEA had a theory: the upper echelons of global money laundering, terrorism, drug-trafficking and organized crime all bleed together. And only a handful of men in this murky world of extremely powerful criminals had organizations capable of laundering more than $10 billion annually. Continue reading “Alleged RCMP mole accused of selling secrets to kingpin money launderer and terror-financier’s network”

Article: Collusion with Trump over Russia inquiry ‘did not happen’, says Raab

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Collusion with Trump over Russia inquiry ‘did not happen’, says Raab

Patrick Wintour, 02 October 2019

No member of the British government, including the prime minister, would ever collude with Donald Trump to try to discredit the work of intelligence agencies uncovering Russian interference in the 2016 US election, the UK foreign secretary said.

Dominic Raab told the Commons that “any such collusion is entirely unacceptable, would never happen, and did not happen”.

The foreign secretary refused to say at prime minister’s questions whether Boris Johnson, or his predecessor, Theresa May, had spoken to the US president about any request to cooperate with the inquiry he had ordered into how the US intelligence agencies handled claims that Russia colluded with the Trump presidential campaign in 2016.

The collusion claim led to the lengthy report by Robert Mueller, which showed that Russia was attempting to swing the presidential election in favour of Trump but did not say whether there had been collusion between Russia and Trump.

Raab was asked whether, as reported in the Times, Trump had personally contacted Johnson to ask him to cooperate with the US inquiry.

The Labour MP Ben Bradshaw implied that the purpose of any Trump request might be “to undermine or smear British intelligence services, as well as damage cooperation with their US colleagues”.

Raab, deputising for Johnson at prime minister’s questions, said: “Neither the prime minister or, as then, the foreign secretary, would collude in the way that he described. That is entirely unacceptable and would never happen and did not happen.”

It is noticeable that the British government has been less willing than either the Australian or Italian governments to give details of help given to Trump’s inquiry into the role of the US intelligence services.

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Article: Ex-UBS trader beats market manipulation charge

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Ex-UBS trader beats market manipulation charge

New York (AFP), 25 April 2018

Former UBS precious metals trader Andre Flotron was acquitted on Wednesday of market manipulation, a development that could spell trouble for similar cases against other Wall Street traders.

Authorities arrested Flotron late last year on charges he engaged in a Wall Street practice called “spoofing,” which involves placing and then immediately aborting trades to move prices. The acquittal follows January’s $46.6 million settlement with UBS, Deutsche Bank and HSBC over allegations traders at the banks worked to manipulate futures markets in precious metals between 2008 and early 2014.

Before this case, only three other people had ever been charged with “spoofing,” according to the Justice Department, a practice banned under the 2010 Dodd-Frank Wall Street reform legislation. Continue reading “Article: Ex-UBS trader beats market manipulation charge”

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

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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”

Article: Deutsche Bank hit with spoofing fine by US Justice Department

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Deutsche Bank hit with spoofing fine by US Justice Department

Deutsche Welle, 29 January 2018

US authorities have fined Deutsche Bank and two other European finance institutions for manipulating markets. Germany warned its best-known bank not to overdo bonuses — it’d be bad for its already soured image. Continue reading “Article: Deutsche Bank hit with spoofing fine by US Justice Department”

Article: The Deutsche Bank gold manipulation scandal

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The Deutsche Bank gold manipulation scandal

Leonard Melmano, 02 June 2016

Sophisticated British criminals exploited vulnerabilities in Australia’s search engine and cryptocurrency infrastructure to dupe small investors, lured by the promise of high-yield funds badged by some of the finance world’s most trusted brands.

The complex scheme involved stolen identities and fraudulent prospectuses that claimed to represent high-yield investment funds run by global managers Citibank, Nomura, and IFM Investors. It has ensnared millions from unsuspecting victims who sought better returns as interest rates collapsed during the COVID-19 crisis. Continue reading “Article: The Deutsche Bank gold manipulation scandal”

Article: Regulators fine global banks $4.3 billion in currency investigation

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Regulators fine global banks $4.3 billion in currency investigation

Kirstin Ridley, Joshua Franklin, Aruna Viswanatha, 12 November 2014

Regulators fined six major banks a total of $4.3 billion for failing to stop traders from trying to manipulate the foreign exchange market, following a yearlong global investigation.

HSBC Holdings Plc, Royal Bank of Scotland Group Plc, JPMorgan Chase & Co, Citigroup Inc, UBS AG and Bank of America Corp all faced penalties resulting from the inquiry, which has put the largely unregulated $5-trillion-a-day market on a tighter leash, accelerated the push to automate trading and ensnared the Bank of England.

Authorities accused dealers of sharing confidential information about client orders and coordinating trades to boost their own profits. The foreign exchange benchmark they allegedly manipulated is used by asset managers and corporate treasurers to value their holdings.

Dealers used code names to identify clients without naming them and swapped information in online chatrooms with pseudonyms such as “the players”, “the 3 musketeers” and “1 team, 1 dream.” Those who were not involved were belittled, and traders used obscene language to congratulate themselves on quick profits made from their scams, authorities said.

Wednesday’s fines bring total penalties for benchmark manipulation to more than $10 billion over two years. Britain’s Financial Conduct Authority levied the biggest penalty in the history of the City of London, $1.77 billion, against five of the lenders.

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