Tag: fraud

  • Barclays boss was ‘up at 2am’ over bonus

    by

    A senior banker at Barclays panicked at 02:00 at the peak of the 2008 banking crisis that, if the bank was nationalised, his bonus would be jeopardised, a court has heard. Barclays was among banks needing extra funding during the crisis. Roger Jenkins discussed with colleagues a plan to raise money privately, to avoid having […]

    more
  • Leaders of South Korean Crypto Exchange Komid Jailed for Faking Volume: Local Media

    by

    Two leaders of the South Korean cryptocurrency exchange Komid were reportedly sentenced to serve jail time for faking exchange volumes, Korean crypto media outlet blockinpress reports on Jan. 18. The exchange’s CEO, surnamed Choi, received a three-year sentence, while another company leader with an unspecified role was purportedly sentenced to two years imprisonment for fraud, embezzlement and misconduct, the article […]

    more
  • Russian ICO That Impersonated Bank Hit With Cease-and-Desist

    by

    North Dakota’s securities watchdog has issued a cease-and-desist order against a Russia-based initial coin offering (ICO) that appeared to impersonate Liechtenstein-based Union Bank AG to promote “unregistered and potentially fraudulent securities.” On Monday, Karen Tyler, commissioner of the North Dakota Securities Department, said that the website of the supposed ICO project – called Union Bank Payment Coin (UBPC) […]

    more
  • US Regulator Issues Cease and Desist Order to Russian ICO Mimicking Liechtenstein Bank

    by

    Securities Commissioner Karen Tyler of North Dakota, U.S., has issued a cease and desist order against a Russian Initial Coin Offering (ICO) that posed as Liechtenstein Union Bank, according to a Monday, Nov. 19 press release. The state Securities Department’s ICO Task Force conducted an investigation and found out that the website of the fraudulent ICO mimicked Union Bank […]

    more
  • Bitcoin Fraudsters Misled Investors and Impersonated Regulators, CFTC Alleges

    by

    The Commodity Futures Trading Commission (CFTC) filed charges against two defendants for allegedly going to a number of lengths in attempts to steal bitcoin. The regulator announced late Friday that it was charging two individuals using the names Morgan Hunt and Kim Hecroft for “fraudulent solicitation, impersonation of a CFTC investigator and forging CFTC documents” as part […]

    more
  • Breaking: Founder of Crypto Exchange OKEx Allegedly Detained on Crypto Fraud Charges in China

    by

    Star Xu, the founder of exchange services provider OKCoin and the world’s second-largest crypto exchange OKEx, has allegedly been detained in China in relation to suspected digital currency fraud, local news outlet Sina News reports September 11. According to the news outlet, Xu is currently being held in the Shanghai Weifang Xincun police station, and will be released within 24 […]

    more
  • Ripple, Ripple CEO Served Third Securities Fraud Lawsuit

    by

    Three and counting: Ripple, the cryptocurrency startup behind the XRP tokens, has reportedly been hit with a third lawsuit alleging securities fraud. “A private XRP investor alleges that Ripple Labs Inc. and its CEO Bradley Garlinghouse have conflated their token with its proprietary Ripple technology and even illegally profited from price increases the whole time,” a summary of […]

    more