SNB Threw $118 Billion at FX Campaign as U.S. Alarm Bells Rang
Catherine Bosley, 22 March 2021
The Swiss National Bank spent 110 billion francs ($118 billion) on interventions in 2020, evidence of heightened market activism that risks fueling more tension with the U.S.
The tally is the highest since 2012 and indicates officials purchased currency worth 9 billion francs in the fourth quarter, when the U.S. Treasury branded Switzerland a currency manipulator. Such eye-watering sums won’t escape the attention of President Joe Biden’s new administration in Washington, which doesn’t appear to be breaking with the stance of its predecessor.n Continue reading “Article: SNB Threw $118 Billion at FX Campaign as U.S. Alarm Bells Rang”
Video Tech Co. Founder Charged In Pump-And-Dump Scheme
Reenat Sinay, 15 January 2021
The founder of a Silicon Valley video streaming service and an investment manager have been indicted for allegedly orchestrating a pump-and-dump stock fraud scheme, Illinois federal prosecutors announced Friday.
David Foley and investment manager Bennie Blankenship allegedly conspired to manipulate the share prices of NanoTech Gaming Inc., a former unit of Nanotech Entertainment Inc., according to the 10-count Jan. 11 indictment.
Between 2013 and 2016, Foley acquired shares in NanoTech Gaming and issued them to a South Dakota corporation called Galaxy Entertainment Group Inc., purportedly run by a close relative of Foley’s, prosecutors said. Continue reading “Article: Video Tech Co. Founder Charged In Pump-And-Dump Scheme”