London Couple’s Cash Trail Led Crime Agency to Azeri Laundromat
Jonathan Browning, 14 July 2021
When U.K. authorities began investigating wealth belonging to a politically-connected Azerbaijani family, their suspicions were triggered by a raft of “brass plate” companies that funneled more than double the amount of the couple’s stated income.
Almost 14 million pounds ($19.3 million) was routed into British bank accounts controlled by Suleyman Javadov, the son of a former deputy energy minister, and his wife. Among the 21 companies that moved their wealth was Rovers Production and Tourism Ltd., which chartered a private jet to fly female models to the Spanish party island of Ibiza. Another firm’s accounts were managed by an individual who appeared to be a dentist living in Belgium. Continue reading “Article: London Couple’s Cash Trail Led Crime Agency to Azeri Laundromat”
Did The NFT Boom Just Burst?
TYLER DURDEN, 03 April 2021
Non-fungible tokens, or NFTs, are changing the way we think about art (and other collectibles), and in 2021, investors have started to take notice. As Decrypt writes, in the last year, NFTs have shot to the forefront of the crypto space. The cryptographically-unique tokens make it possible to create real-world scarcity for digital objects, and artists have seized on the opportunity presented by the technology.
“It’s not meaningful to characterize a concept as a financial bubble,” said Chris Wilmer, a University of Pittsburgh academic who co-edits a blockchain research journal. Continue reading “Article: Did The NFT Boom Just Burst?”
Supreme Court to decide whether Goldman Sachs shareholders can bring suit in major fraud case
Tucker Higgins, 28 March 2021
The Supreme Court is set to hear arguments from Goldman Sachs in a long-running case that could have major implications for shareholders seeking to bring securities-fraud lawsuits.
Arguments are scheduled to begin at 10 a.m. ET Monday and will be streamed live as the court continues to meet remotely as a precaution against Covid-19.
The case, which dates to the Great Recession, concerns statements that the investment bank made while it was marketing “Abacus,” an investment known as a synthetic collateralized debt obligation. Continue reading “Article: Supreme Court to decide whether Goldman Sachs shareholders can bring suit in major fraud case”
Investor Alert: Kaplan Fox Investigates Nano-X Imaging For Potential Securities Fraud
PRNewswire, 18 September 2020
Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Nano-X Imaging Ltd. (“Nano-X” or the “Company”) (NASDAQ: NNOX). A complaint has been filed on behalf of investors who purchased the publicly traded securities of Nano-X between August 21, 2020 and September 15, 2020, inclusive (the “Class Period”).
According to the complaint, Nano-X’s securities began trading on the NASDAQ on August 21, 2020. Continue reading “Article: Investor Alert: Kaplan Fox Investigates Nano-X Imaging For Potential Securities Fraud”
Pandemic May Disrupt Discovery In Credit Suisse Forex Case
Dean Seal, 17 April 2020
Counsel for investors and Credit Suisse cited the COVID-19 pandemic Monday when they asked a New York federal judge to push their discovery deadlines in a suit over alleged foreign exchange market manipulation by nine weeks.
In a letter to U.S. District Judge Lorna G. Schofield, attorneys for both sides in the long-running litigation said that in light of the threat to public health posed by the novel coronavirus, as well as the disruptions it has caused in air travel, continued discovery efforts would be risky and exceedingly difficult. Continue reading “Article: Pandemic May Disrupt Discovery In Credit Suisse Forex Case”
JP Morgan Chase’s alleged manipulation of electricity markets detailed
Kevin G. Hall
McClatchyDC, 29 July 2013
The federal regulator of electricity markets on Monday accused Wall Street powerhouse JP Morgan Chase & Co. of using multiple trading strategies to manipulate electricity markets in California and the Midwest for profit.
The Federal Energy Regulatory Commission already had alleged in March that JP Morgan Chase was guilty of manipulating energy markets in California and the Midwest. But late Monday, after the close of financial markets, the agency made public the details in a Staff Notice of Alleged Violations.
Read full article.
In another Wall Street misdeed, Morgan Stanley settles oil-trading flap
Kevin G. Hall
McClatchy Newspapers, 29 April 2010
In another black eye for Wall Street, the Commodity Futures Trading Commission late Thursday announced a $14 million fine against Morgan Stanley Capital Group Inc. for allegedly hiding its complex oil trades.
The settlement, in which Morgan Stanley did not admit or deny the accusations, comes as oil prices have continued their steady upwards march and have some oil analysts again saying that excessive speculation is again pushing up energy prices. One recent estimate put the cost of that to consumers and businesses at $300 billion annually.
Read full article.