27th December 2019
The police have dropped an investigation into the swindling of millions of pounds from UK investors by OneCoin, a pyramid fraud cryptocurrency. The City of London police confirmed to The Times that its investigation into OneCoin, whose founders are thought to have stolen £4 billion in total and whose operations… Read More
26th December 2019
The economic offences wing (EOW) is all set to file a charge sheet in the case of the ₹6,670-crore fraud at Punjab and Maharashtra Co-operative (PMC) Bank. “My officers have prepared a very comprehensive charge sheet, leaving no room for any aspect of the case to remain unexplored,” said commissioner… Read More
26th December 2019
UK authorities have put a Chinese man behind bars for renting out hundreds of properties to gangs to be used in prostitution, drug trafficking and human smuggling. Feng Xu was arrested in Birmingham, England in May 2019 and was sentenced on Friday to more than seven years in prison… Read More
24th December 2019
China may debut the breakout fintech innovation of 2020. Beijing is primed to launch the world’s first digital sovereign currency. The initial roll out looks cautious, focusing on consumer spending. Deploying the new technology more widely in the country’s banking system could be the disruptive next step. A 2019 survey… Read More
24th December 2019
Holly Kay bought eight $1,000 Macy’s gift cards at a California mall because a scammer told her to on the Saturday before Thanksgiving. Forty minutes later, she bought $13,000 more in gift cards at that store. The ease with which Ms. Kay was able to complete those purchases underscores the… Read More
24th December 2019
The former head of HSBC Holdings Plc’s North American interest rates business was sued for fraud by the U.S. Commodity Futures Trading Commission. Christophe Rivoire helped manipulate the price of an interest rate swap between the bank and a bond issuer, the CFTC said in a complaint filed Friday in… Read More
24th December 2019
South African police arrested two former senior managers at the state electricity company and two other suspects over allegations of fraud, corruption and money laundering at the Kusile power plant. Abram Masango, the former head of group capital at Eskom Holdings SOC Ltd. and France Hlakudi, a former senior manager… Read More
20th December 2019
Goldman Sachs is negotiating with federal prosecutors to pay a fine of as much as $2 billion, and have a subsidiary plead guilty to settle claims about its role in a scheme to loot billions from a sovereign wealth fund in Malaysia, according to two people with knowledge of… Read More
18th December 2019
The province has filed a lawsuit seeking to seize another property allegedly linked to a $200-million-plus international stock fraud. The $2.4-million property on Salt Spring Island, north of Victoria off the east coast of Vancouver Island, is added to two properties the B.C. Civil Forfeiture Office is already pursuing in… Read More
17th December 2019
Bitcoin may have a tough time getting out from under the fallout from one of the biggest cryptocurrency scams ever, according to researcher Chainalysis Inc. The largest cryptocurrency is likely to remain under pressure as perpetrators of the estimated more than $2 billion PlusToken scandal dump coins to cash… Read More