Featured Trading

FX collusion scandal reaches Australia, class action launched

An Australian law firm filed a class action lawsuit on Monday against five major international investment banks accusing them of colluding to rig foreign exchange rates during 2008-2013 to jack up profits at the expense of businesses and investors. The case involved some of the same banks caught up in… Read More

Las Vegas businessman gets 50 years prison in $1.5 billion Ponzi scheme

A federal judge on Thursday sentenced a former Las Vegas medical billing company operator who prosecutors called the ringleader of a $1.5 billion Ponzi scheme that bilked thousands of Japanese residents to 50 years in prison. Edwin Fujinaga, 72, the former chief executive of MRI International Inc, was sentenced by… Read More

FCA Warns of Sharp Rise in Online Trading Scams Linked to Crypto, Forex

Reports of investment scams linked to crypto-assets and foreign currency trades have nearly tripled over the past year compared to the previous 12-month period, two UK organizations said Tuesday. Investors in the online trading schemes lost £27 million over the year, with average losses for individuals totaling £14,600, according to… Read More
20th May 2019
JPMorgan’s former Asia investment banking vice-chair Catherine Leung has been charged with two counts of bribery by Hong Kong’s anti-corruption watchdog for offering a job to the son of a potential client. Leung allegedly offered employment to the son of the chairman of a logistics company in 2010 and 2011… Read More
15th May 2019
Facing unprecedented pressure to clamp down on criminal groups, UK law enforcement officials are in need of an additional £2.7 billion in funding over the next three years, the head of the National Crime Agency (NCA) said Monday. The agency is seeking a 54-percent increase in its annual budget, which… Read More
10th May 2019
Barclays, Citigroup, HSBC, JPMorgan and three other banks are set to be fined by EU antitrust regulators in coming weeks for rigging the multi-trillion dollar foreign exchange market, two people familiar with the matter said. The other three lenders are Royal Bank of Scotland, UBS and a small Japanese bank,… Read More
3rd May 2019
Wall Street’s industry-funded watchdog on Thursday proposed a rule to boost oversight of securities brokerages with a “significant history of misconduct” that could require them to set aside funds that cannot be withdrawn without the regulator’s consent, among other measures. The proposal, published in a Financial Industry Regulatory Authority (FINRA)… Read More
30th April 2019
A Swiss anti-corruption lobby group has filed a criminal complaint against Credit Suisse over alleged fraud in the arrangement of $2 billion of loans to Mozambique, the group said on Monday. Mozambique, one of the most indebted countries in the world, in 2016 admitted to billions of dollars of undisclosed… Read More
29th April 2019
Tens of thousands of people marched on Hong Kong’s parliament on Sunday to demand the scrapping of proposed extradition rules that would allow people to be sent to mainland China for trial – a move which some fear puts the city’s core freedoms at risk. Opponents of the proposal fear… Read More
29th April 2019
An uptick in white-collar prosecutions by the Trump administration could bring relief to high-end defense lawyers, who have been searching for work after years of declining federal prosecutions. Many white-collar lawyers have been fretting about their caseloads since the Trump administration took charge of the U.S. Department of Justice, worrying… Read More
26th April 2019
Singapore’s securities regulator has called for an independent review of fraud allegations made by a short-seller against Best World International Ltd, which knocked 9 percent off the cosmetics firm’s share price on Wednesday. Shares in the closely held Singapore-listed firm have halved since February when local media questioned Best World’s… Read More
16th April 2019
The United Kingdom is seeking input on its planned implementation of the European Union’s fifth anti-money laundering directive (5AMLD) as the government continues to negotiate an exit from the economic bloc. In a consultation paper published Monday, HM Treasury said it would seek stakeholder commentary on the directive through… Read More
9th April 2019
Qatar said on Monday it had filed lawsuits against three banks, accusing them of using what it called overseas currency manipulation to sabotage its economy in the wake of an Arab boycott against the country in 2017. The cases, filed in London and New York, name Luxembourg-based Banque Havilland, the… Read More