Article: Five Individuals Charged in Offering Fraud, Stock Manipulation and Money Laundering Schemes

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Five Individuals Charged in Offering Fraud, Stock Manipulation and Money Laundering Schemes

Department of Justice, 14 April 2021

A five-count indictment was filed today in federal court in Brooklyn charging Richard Dale Sterritt, Jr., Michael Greer, Robert Magness, Mark Ross and Robyn Straza with conspiracy to commit securities fraud, wire fraud and money laundering, among other offenses. The charged crimes arise out of a series of securities fraud schemes, including an offering fraud targeted at investors and potential investors in an oil and gas company in Texas and the attempted manipulation of the publicly traded stock of a cannabis company. The defendants were arrested today. Sterritt, Greer and Straza will make their initial appearance in federal court in Dallas, Texas; Magness and Ross will make their initial appearance in Brooklyn. Continue reading “Article: Five Individuals Charged in Offering Fraud, Stock Manipulation and Money Laundering Schemes”

Article: The Number One Threat To Global Finance? Cyber Attacks

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The Number One Threat To Global Finance? Cyber Attacks

PYMNTS, 13 April 2021

Cyberattacks are the greatest threat to the world’s financial system, Federal Reserve Chairman Jerome Powell said in an interview with CBS News this week. Speaking to “60 Minutes” on Sunday (April 11), Powell said the risks posed by cybercriminals are greater than the lending and liquidity troubles that triggered the 2008 financial crisis.

“There are scenarios in which a large financial institution would lose the ability to track the payments that it’s making, where you would have a part of the financial system come to a halt, or perhaps even a broad part,” he said. “And so, we spend so much time and energy and money guarding against these things. There are cyberattacks every day on all major institutions now. That’s a big part of the threat picture in today’s world.” Continue reading “Article: The Number One Threat To Global Finance? Cyber Attacks”

Article: How Cybercriminals Stole $1.8 Billion from Unsuspecting Older Americans in 2020

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How Cybercriminals Stole $1.8 Billion from Unsuspecting Older Americans in 2020

Katherine Skiba, 12 April 2021

Cybercrime complaints soared to a record high last year, when total losses surpassed $4.2 billion and losses to those 50 and older exceeded $1.8 billion, according to FBI data for 2020.

The nearly 792,000 in overall reports from all ages was a 69 percent jump from 2019. The increase was blamed on crooks who exploited the COVID-19 pandemic for financial gain. “In 2020, while the American public was focused on protecting our families from a global pandemic and helping others in need, cybercriminals took advantage of the opportunity to profit from our dependence on technology to go on an internet crime spree,” said the FBI’s Paul Abbate, a 25-year veteran who is the bureau’s deputy director, its second-highest official. Continue reading “Article: How Cybercriminals Stole $1.8 Billion from Unsuspecting Older Americans in 2020”

Article: Documents Detail Wild Alleged $25M Gaetz Extortion Scheme

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Documents Detail Wild Alleged $25M Gaetz Extortion Scheme

TYLER DURDEN, 31 March 2021

Rep. Matt Gaetz possesses text message screenshots, an email, and a typed document that purportedly support his claims that a federal investigation into his relationship with a 17-year-old is related to an extortion scheme against him.

On Tuesday, the New York Times reported that the Justice Department is investigating whether Gaetz had a sexual relationship with a 17-year-old and paid her to travel with him. Gaetz has called the report “totally false.” Gaetz told Axios that his lawyers told him that he “was not a target but a subject of an investigation regarding sexual conduct with women.”

The Florida Republican countered the report on Twitter and in statements to Axios and Fox News with a claim that his family is being extorted for $25 million and that the people pushing stories about an investigation into his relationships with women are the people extorting him and the subjects of an FBI extortion investigation over the last few weeks. Continue reading “Article: Documents Detail Wild Alleged $25M Gaetz Extortion Scheme”

Article: What the FBI wants you to know about elder fraud schemes following arrest of ‘Real Housewives’ star

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What the FBI wants you to know about elder fraud schemes following arrest of ‘Real Housewives’ star

Erin Coulehan, 31 March 2021

EL PASO, Texas (KTSM) — It might look like the women from Bravo’s “Real Housewives” franchises have it all, but a recent arrest of one star is shedding light on criminal schemes across the country.

The FBI El Paso is warning Borderland residents to beware of elder fraud that targets people over the age of 60 to give their money to scammers seeking to defraud the elderly population.

On Tuesday, “Real Housewife of Salt Lake City” star Jen Shah and her first assistant, Stuart Smith, were arrested and indicted for defrauding elder and tech-illiterate adults using telemarketing schemes, like disrupting and annoying robocalls that many cellphone users regularly receive. Continue reading “Article: What the FBI wants you to know about elder fraud schemes following arrest of ‘Real Housewives’ star”

Article: Prosecutor: Alleged money launderer Ian Freeman holds $1.6 million in Bitcoins

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Prosecutor: Alleged money launderer Ian Freeman holds $1.6 million in Bitcoins

Mark Hayward New Hampshire Union Leader, 19 March 2021

CONCORD — Free-Keene leader Ian Freeman has accessed $1.66 million worth of Bitcoins and had $178,000 in cash in his safe when his house was raided by federal authorities this week, prosecutors said on Friday.

Federal prosecutors also said Freeman has access to gold, silver, and possibly other liquid assets and cryptocurrencies. Freeman — who faces eight felony charges including money laundering, wire fraud and conspiracy — could tap those assets and use them to flee if a judge releases him on bail, prosecutors warned.

Assistant U.S. Attorney Georgina MacDonald voiced those concerns during an hour-plus bail hearing streamed live Friday from U.S. District Court in Concord.

The hearing ended with Judge Magistrate Andrea Johnstone deferring a decision and promising a written order as soon as possible.

On Tuesday, the FBI arrested Freeman and five others who are part of the libertarian Free Keene movement on charges related to a Bitcoin-dollar exchange system they ran through churches they were closely affiliated with.

Freeman is the only one to face charges of money laundering and operating a continuing financial crimes enterprise, which call for mandatory minimum sentences of 10 years.

MacDonald termed Freeman a sophisticated cybercriminal.

Close to 70 people, including media, FBI agents and some with cryptic names, logged on for the hearing. Freeman participated via video feed from Merrimack County jail.

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Article: Free Keene leaders arrested for money laundering in FBI raids; illegal Bitcoin exchange alleged

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Free Keene leaders arrested for money laundering in FBI raids; illegal Bitcoin exchange alleged

Damien Fisher and Josie Albertson-Grove, 16 March 2021

Six people involved with the libertarian Free Keene group are facing charges — including wire fraud and money laundering — related to an unlicensed cryptocurrency exchange that federal prosecutors said processed some $10 million since 2016.

Prosecutors say the six people ran an unlicensed online exchange that let people swap dollars for Bitcoin, and collected fees for their service.

The six charged are Ian Freeman (formerly Ian Bernard), 40, of Keene; Colleen Fordham, 60, of Alstead; Renee Spinella, 23, of Derry; Andrew Spinella, 35, of Derry; Nobody (formerly Richard Paul), 52, of Keene; and Aria DiMezzo, 34, of Keene, who ran for Cheshire County sheriff in 2020.

The cryptocurrency exchange used bank accounts that purported to be for churches, lied to banks and told customers to lie to banks to keep up the ruse, prosecutors said in an indictment.

Beginning in the spring of 2016, prosecutors said, the group opened bank accounts for the Shire Free Church, the Crypto Church of New Hampshire, the Church of the Invisible Hand and the Reformed Satanic Church.

Freeman told the Union Leader earlier this year that the Bitcoin transaction business funds the activities of the Shire Free Church.

Freeman said one of his bank accounts was frozen last year as part of an investigation. He acknowledged there is fraud in the Bitcoin world, but said he was not part of that type of business.

“I’ve got what I think are pretty good procedures,” he said.

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Article: Whistle-Blower Says Credit Suisse Helped Clients Skip Taxes After Promising to Stop

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Whistle-Blower Says Credit Suisse Helped Clients Skip Taxes After Promising to Stop

Neiman, 13 March 2021

Seven years after Credit Suisse promised federal prosecutors that it would stop helping rich Americans hide their wealth from tax collectors, a whistle-blower is contending that it continued to do just that, raising the possibility that the Swiss bank could face a fresh investigation and steep financial penalties.

The allegations, laid out in documents sent last week to the Justice Department and the Internal Revenue Service, were made by a former Credit Suisse employee. The former employee said that the bank continued to hide assets for its clients long after it promised prosecutors it would close those accounts, according to copies of documents obtained by The New York Times.

The whistle-blower, whose identity is unknown, is also contending that Credit Suisse lied to federal prosecutors, the Internal Revenue Service and members of Congress during their yearslong inquiry into how Swiss banks helped Americans defraud the government. Those investigations ultimately led to a settlement in May 2014 between Credit Suisse and federal prosecutors, in which the Swiss bank pleaded guilty to helping some of its American clients evade taxes by cloaking their wealth through offshore shell companies.

Credit Suisse was fined a total of $2.6 billion, but avoided even higher fines because it vowed to the Justice Department and a Senate panel that it had not only stopped the practice, but that it would close “any and all accounts of recalcitrant account holders.” The bank also pledged to help the United States pursue other criminal investigations, according to the plea agreement. Credit Suisse’s guilty plea and steep fine were rare in 2014. It was the first time in more than two decades that a lender of its size had admitted wrongdoing in an American court.

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Article: Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street

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Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street

Cade Metz, WIRED, 18 February 2021

The problem with the modern economy, Byrne says, is that it rests on the whims of our government and our big banks, that each has the power to create money that’s backed by nothing but themselves. Thanks to what’s called fractional reserve banking, a bank can take in $10 in deposits, but then loan out $100. The government can make more dollars at any time, instantly reducing the currency’s value. Eventually, he says, laying down a classic libertarian metaphor, this “magic money tree” will come crashing down.

Continue reading “Article: Meet Patrick Byrne: Bitcoin Messiah, CEO of Overstock, Scourge of Wall Street”

Letter: Marc Cohodes to Judge Jed Rakoff

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PDF (5 Pages): 20210218-Cohodes Submission Against Petit

“Second, Mr. Cohodes has never engaged in naked short selling (that is, he trades through brokers who find shares for him to borrow and he pays high interest fees to maintain his short positions). He was never part of any concerted illegal campaign to target MiMedx; his actions were his own.”

Comment: The above statement by a lawyer is easily challenged in court with evidence. Mr. Cohodes appears to be panicking. This time around it will cost him 10X to 100X what he was forced to pay Patrick Byrne.  We have it all. The matter of compromised judges and DOJ and SCC as a RICO organization are also on the table. DTCC will not survive a Special Prosecutor.

Article: Investigations Into GameStop Trading And Reddit: Former SEC Enforcement Chief Provides Insights

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Investigations Into GameStop Trading And Reddit: Former SEC Enforcement Chief Provides Insights

Bruce Brumberg, JDN, 9 February 2021

The Reddit/GameStop aftermath continues. Now, it’s been reported, investigators at the US Securities and Exchange Commission (SEC) are allegedly scouring posts on social media and online message boards for evidence of fraud and coordinated stock-price manipulation in the hype that led to recent unlikely surges in the stock prices of GameStop, AMC Entertainment Holdings, and a few other companies.

What goes on in these types of SEC investigations? Are individual investors who contributed to the online buzz about these companies really at risk of SEC enforcement actions or criminal prosecution? What about the legality of the decision by trading app Robinhood and other online trading platforms to temporarily restrict trading in the stock of GameStop and the other targeted companies? Continue reading “Article: Investigations Into GameStop Trading And Reddit: Former SEC Enforcement Chief Provides Insights”

$100 Trillion Stolen by Wall Street Recoverable — Robert Steele’s Open Letter to the President

Letter

11 June 2020

Open Letter to the President

Leverage NSA, Clean Up Wall Street, Engage Authentic Black Leaders

Mr. President,

It is my good fortune to be a former spy and also good friends with Bill Binney and known to Mike Flynn.  It has taken me months to arrange for Bill Binney to speak on the record, in a sixteen minute video at https://tinyurl.com/NSA-10-30-100. With ten people in thirty days Bill can deliver all the data you need to confiscate, through civil and criminal forfeiture, $100 trillion (or more) in assets acquired by varied Wall Street financial criminals among whom Goldman Sachs is by far the largest, using naked short selling and money laundering to steal from all.

Continue reading “$100 Trillion Stolen by Wall Street Recoverable — Robert Steele’s Open Letter to the President”