New York – Page 3 – Financial Treason & Crime

Al Barbarino, 06 April 2021

Credit Suisse Securities failed to monitor thousands of its employees’ outside brokerage accounts for “potentially deceptive” trading practices, according to a Financial Industry Regulatory Authority settlement that censures the broker-dealer and slaps it with a $345,000 fine.

The New York-based subsidiary of Credit Suisse Group failed to adequately track whether its new employees had disclosed outside brokerage accounts, according to the settlement, which was published Monday. Continue reading “Article: FINRA Fines Credit Suisse $345K For Worker Oversight Lapse”

04/05/202104/12/2021

Article: GameStop shares fall as company looks to cash in on Reddit surge

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GameStop shares fall as company looks to cash in on Reddit surge

Staff and agency, 05 April 2021

Shares in GameStop fell on Monday after the video-game retailer said it may sell up to $1bn (£720m) worth of stock as it tries to make the best of the 900% surge in its shares from a Reddit-driven rally this year.

The company said it would sell up to 3.5m shares and use the proceeds to speed up its shift to e-commerce in an overhaul being led by the billionaire Ryan Cohen, its biggest shareholder and a board member of GameStop. Shares in the company fell sharply in pre-market trading in New York but had recovered by the close to $186.95, a fall of 1.9%. Continue reading “Article: GameStop shares fall as company looks to cash in on Reddit surge”

03/31/202104/01/2021

Article: New Wells Fargo Employee Walked Through All The Crimes He’ll Be Asked To Commit

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New Wells Fargo Employee Walked Through All The Crimes He’ll Be Asked To Commit

NEWS IN BRIEF, 31 March 2021

Editor: This is SATIRE. It is also REALITY. Deal with it.

NEW YORK—Meeting with an HR representative for his first day on the job, new Wells Fargo employee Kyle Menardi was walked through all the crimes he’ll be asked to commit, sources confirmed Wednesday. “The crimes we do here are pretty straightforward, and most new employees get a hang of how to do them within a couple of weeks,” the HR rep informed Menardi, adding that he should prioritize getting a handle on the more day-to-day insurance and securities fraud, and then turn his attention to learning about the company’s more long-term scamming and market manipulation criminal projects. Continue reading “Article: New Wells Fargo Employee Walked Through All The Crimes He’ll Be Asked To Commit”

03/31/2021

Article: In Archegos fire sale, Credit Suisse, Nomura burned by slow exit

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In Archegos fire sale, Credit Suisse, Nomura burned by slow exit

Matt Scuffham, Elizabeth Dilts Marshall, Brenna Hughes Neghaiwi, 31 March 2021

NEW YORK/ZURICH (Reuters) -While banks including Goldman Sachs, Morgan Stanley and Deutsche Bank were able to exit their trades with Archegos Capital relatively unscathed, Credit Suisse and Nomura have been burned in the fire sale.

The blowup of the Archegos fund, a family office run by former Tiger Asia manager Bill Hwang, is still reverberating across the financial system, with global banks so far standing to lose more than $6 billion.

Switzerland’s Credit Suisse and Japan’s Nomura are expected to bear the brunt of that. Continue reading “Article: In Archegos fire sale, Credit Suisse, Nomura burned by slow exit”

03/31/202104/01/2021

Article: Big banks win dismissal of U.S. Treasury rigging litigation

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Big banks win dismissal of U.S. Treasury rigging litigation

Jonathan Stempel, 31 March 2021

NEW YORK (Reuters) – A U.S. judge on Wednesday dismissed long-running litigation accusing 10 large banks of conspiring to suppress competition in the now $21.2 trillion market for U.S. Treasury securities.

U.S. District Judge Paul Gardephe in Manhattan ruled against 21 pension, retirement and benefit funds, as well as unions, banks, individuals, and companies that traded in Treasuries, in the proposed antitrust class action.

The defendants included Bank of America, Barclays, BNP Paribas, Citigroup, Credit Suisse, Goldman Sachs, JPMorgan Chase, Morgan Stanley, NatWest Group and UBS, as well as trading platform operator Tradeweb Markets. Continue reading “Article: Big banks win dismissal of U.S. Treasury rigging litigation”

03/30/2021

Article: One of World’s Greatest Hidden Fortunes Is Wiped Out in Days

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One of World’s Greatest Hidden Fortunes Is Wiped Out in Days

Katherine Burton and Tom Maloney, 30 March 2021

From his perch high above Midtown Manhattan, just across from Carnegie Hall, Bill Hwang was quietly building one of the world’s greatest fortunes.

Even on Wall Street, few ever noticed him — until suddenly, everyone did.

Hwang and his private investment firm, Archegos Capital Management, are now at the center of one of the biggest margin calls of all time — a multibillion-dollar fiasco involving secretive market bets that were dangerously leveraged and unwound in a blink. Continue reading “Article: One of World’s Greatest Hidden Fortunes Is Wiped Out in Days”

03/30/202104/15/2021

Article: Wall Street Giants Beat Treasury Auction Rigging MDL

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Wall Street Giants Beat Treasury Auction Rigging MDL

Dean Seal, 30 March 2021

A New York federal judge ruled Wednesday that he has yet to see any direct evidence that Wall Street banks including Goldman Sachs and Credit Suisse conspired to manipulate the $14 trillion market for securities issued by the U.S. Treasury Department.

U.S. District Judge Paul G. Gardephe dismissed long-running multidistrict litigation accusing a group of banks that also included JPMorgan Chase and Morgan Stanley of rigging auctions for Treasury Department bonds and other securities, on top of reducing competition in a secondary market for those securities. Continue reading “Article: Wall Street Giants Beat Treasury Auction Rigging MDL”

03/26/202104/10/2021

Article: Glass Houses Acquisition Corp. – EX-1.1 – – UNDERWRITING AGREEMENT BETWEEN THE COMPANY AND JEFFERIES LLC – March 26, 2021

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Glass Houses Acquisition Corp. – EX-1.1 – – UNDERWRITING AGREEMENT BETWEEN THE COMPANY AND JEFFERIES LLC – March 26, 2021

Fintel, 26 March 2021

Introductory. Glass Houses Acquisition Corp., a Delaware corporation (the ?Company?), proposes, upon the terms and subject to the conditions set forth in this agreement (this ?Agreement?), to issue and sell to the several underwriters listed on Schedule A hereto (the ?Underwriters?) an aggregate of 20,000,000 units of the Company (the ?Units?). The 20,000,000 Units to be sold by the Company are called the ?Firm Securities.? In addition, the Company has granted to the Underwriters an option to purchase up to an additional 3,000,000 Units as provided in Section 2. The additional 3,000,000 Units to be sold by the Company pursuant to such option are collectively called the ?Optional Securities.? The Firm Securities and, if and to the extent such option is exercised, the Optional Securities are collectively called the ?Offered Securities.? Jefferies LLC (?Jefferies?) has agreed to act as the representative of the several Underwriters (in such capacity, the ?Representative?) in connection with the offering of the Offered Securities for sale to the public as contemplated in the Prospectus (as defined below) (the ?Offering?).

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03/25/202104/06/2021

Article: 180 Life Sciences Corp. (NASDAQ: ATNF) in Hot Pursuit of New Anti-Inflammatory Blockbusters

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180 Life Sciences Corp. (NASDAQ: ATNF) in Hot Pursuit of New Anti-Inflammatory Blockbusters

GLOBE NEWSWIRE, 25 March 2021

180 Life Sciences Corp. (NASDAQ: ATNF) today announces its placement in an editorial published by NetworkNewsWire (“NNW”), one of 50+ trusted brands within the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities.

Inflammation has been directly linked to a wide variety of physical and mental health maladies. Inflammation is also a symptom of infectious diseases, implicated in noninfectious diseases, and new findings show a causal relationship with postsurgical trauma. Inflammatory diseases are recognized as the most significant cause of death in the world, with more than 50% of all deaths attributed to inflammation-related diseases. The recognition of the connection between inflammation and disease sparked a flurry of biotech research and a new generation of drug development to treat previously untreatable disorders.

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03/24/202103/26/2021

Article: Texas blackouts may bring winterization mandates from FERC, shape federal spending priorities

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Texas blackouts may bring winterization mandates from FERC, shape federal spending priorities

Jasmin Melvin, 24 March 2021

New York — Policy activity on grid resilience has seen an uptick in the month since an Arctic blast left millions of Texans without power for days, and the federal policy response could bring new requirements for generator winterization and inform stimulus and infrastructure spending priorities, a Washington insider said March 24.

The federal response starts with the Federal Energy Regulatory Commission, Jeff Dennis, managing director and general counsel for Advanced Energy Economy, said during an AEE-hosted webinar on the policy fallout from the Texas blackouts. Continue reading “Article: Texas blackouts may bring winterization mandates from FERC, shape federal spending priorities”

03/24/202103/25/2021

Article: German Attorney Pleads Guilty to Money Laundering

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German Attorney Pleads Guilty to Money Laundering

Eastern District of New York, 24 March 2021

Earlier today, at the federal courthouse in Brooklyn, Henning Schwarzkopf, a citizen of Germany and an attorney licensed to practice in Germany, pleaded guilty before United States Magistrate Judge Ramon E. Reyes, Jr., to money laundering by transferring funds that he believed to be the proceeds of a securities fraud scheme through the bank account of a Hong Kong shell company controlled by the defendant. Schwarzkopf was arrested on a criminal complaint in October 2020. When sentenced, Schwarzkopf faces up to 20 years in prison, as well as forfeiture and a fine of up to $250,000.

Mark J. Lesko, Acting United States Attorney for the Eastern District of New York, and William F. Sweeney, Jr., Assistant Director-in-Charge, Federal Bureau of Investigation, New York Field Office (FBI), announced the guilty plea. Continue reading “Article: German Attorney Pleads Guilty to Money Laundering”

03/23/202103/23/2021

Article: Form 8-K Global Tech Industries Group, Inc.

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Form 8-K Global Tech Industries Group, Inc.

SEC, 23 March 2021

WARRANT AGREEMENT, dated as of March 22, 2021 (this “Agreement”), between GLOBAL TECH INDUSTRIES GROUP, INC., a Nevada corporation (the “Company”), and LIBERTY STOCK TRANSFER, INC, as Warrant Agent (the “Warrant Agent”) (each a “Party” and collectively, the “Parties”).

The Company has declared a dividend (the “Dividend”) to the holders of record of the Company’s common stock, par value $0.001 per share (the “Common Stock”), as of 5:00 P.M., New York City time, on April 1st, 2021 (such date and time, the “Dividend Record Date”), in the form of warrants to purchase shares of Common Stock. The Company desires to issue the warrants on the terms and conditions described herein (the “Warrants”) in satisfaction of the Dividend. Each holder of record of Common Stock as of the Dividend Record Date is entitled to 0.10 Warrants per share of Common Stock held of record by such holder as of the Dividend Record Date; provided, however, that no fractional Warrants will be issued. The Warrants will be issued on or about April 8, 2021 (the “Issue Date”).

The Company desires the Warrant Agent to act on behalf of the Company in connection with the issuance, registration, transfer, exchange, exercise and cancellation of the Warrants as provided herein, and the Warrant Agent is willing to so act.

Each Party agrees for the benefit of the other Party and for the equal and ratable benefit of the registered holders of the Warrants (the “Holders”):

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03/22/202103/23/2021

Article: Melvin Capital Is Facing Nine Lawsuits Related to the GameStop Frenzy

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Melvin Capital Is Facing Nine Lawsuits Related to the GameStop Frenzy

Michelle Celarier, Institutional Investor, 22 March 2021

Gabriel Plotkin’s Melvin Capital, the hedge fund at the center of the GameStop trading frenzy in January, is a defendant in nine lawsuits by retail investors alleging a conspiracy to limit trading that caused them to lose money.

The hedge fund revealed the existence of the lawsuits in its annual ADV filing with the Securities and Exchange Commission.

Melvin was famously short GameStop and lost more than 50 percent during January following a short squeeze orchestrated by a Reddit forum called WallStreetBets, whose members included retail investors in GameStop. As the stock soared, various online brokerages catering to those investors, including Robinhood, restricted buying shares of GameStop, among other stocks heavily shorted by Melvin.

03/22/202105/13/2021

Article: Crown Resorts: US private equity group Blackstone offers James Packer exit strategy

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Crown Resorts: US private equity group Blackstone offers James Packer exit strategy

Anne Davies, 22 March 2021

Billionaire James Packer has been offered a new exit strategy from Crown Resorts after the company received an unsolicited bid from private equity company Blackstone Group.

Blackstone, which already has a 10% holding in the casino giant, has offered to acquire all of the shares in Crown through a scheme of arrangement.

It is offering $11.85 a share, representing a 19% premium to the volume-weighted average price of Crown shares since the release of its first half results for the financial year 2021. Continue reading “Article: Crown Resorts: US private equity group Blackstone offers James Packer exit strategy”

03/20/202103/20/2021

Web: Is Global and Mail Compromised and Helping Criminal Naked Short Selling by Anson Funds?

Publications, Web

Web: Is Global and Mail Compromised and Helping Criminal Naked Short Selling by Anson Funds?

u/stewartoregon, Reddit, 11 hours ago

Is there a correlation between negative articles in the Globe and Mail and Anson Fund’s short positions?

To whom it may concern,

I have started looking for articles on companies that Anson Funds apparently holds a large short position in (using the list from a previous post on BurnedByAnsonFunds) and began noticing The Globe and Mail seems to have critical articles about many of them…

Continue reading “Web: Is Global and Mail Compromised and Helping Criminal Naked Short Selling by Anson Funds?”