Investment Schemes | FinTelegram News

Category: Investment Schemes

October 1, 2024

Accounting Fraud: SEC Charges Chartered Accountants with Facilitating a Massive Securities Fraud Scheme!

The U.S. Securities and Exchange Commission (SEC) has taken decisive action against Olayinka Oyebola and his PCAOB-registered accounting firm, Olayinka Oyebola & Co., for their alleged role in a massive securities fraud scheme. The SEC's complaint accuses Oyebola and his firm of aiding and abetting fraud perpetrated by Mmobuosi Odogwu Banye and three U.S. companies under his control, collectively known as the Tingo entities.

August 1, 2024

SEC Charges Former CEO of Social Media Startup IRL with $170 Million Fraud

The U.S. Securities and Exchange Commission (SEC) has charged Abraham Shafi, the founder and former CEO of the social media startup Get Together Inc. d/b/a IRL, with defrauding investors by providing false and misleading information about the company's growth and concealing personal use of company funds. Shafi allegedly raised $170 million from investors, presenting IRL as a fast-growing social media platform.

July 17, 2024

Chinese Tycoon and Political Activitist Miles Guo Found Guilty in $1 Billion Investment Fraud!

Exiled Chinese tycoon Guo Wengui, also known as Ho Wan Kwok or Miles Guo, has been found guilty of defrauding investors out of $1 billion to fund his lavish lifestyle. Guo, whose anti-Communist crusade attracted high-profile allies including former Trump advisor Steve Bannon, was convicted on nine of twelve counts of fraud and racketeering conspiracy following a nearly two-month trial in Manhattan federal court.

March 24, 2024

Beware of Pre-IPO Share Scams: Warning Against Kantonal Finanz O!

In the wake of Reddit's successful initial public offering (IPO), there is an anticipated surge in scams promising shares in companies on the verge of their own IPOs. Such scams are not new and have been a method of deceit for years, targeting uninformed investors eager to get in on the ground floor of the next big company. A notable name often mentioned in these fraudulent offers is Elon Musk's Starlink, a company many investors are keenly watching.

March 22, 2024

UK Regulator FCA Charges Four Individuals in Connection with Alleged £3.9 Million Water Investment Scam

The UK FCA has formally charged Bruce Rowan, David Simmons, Robert Sweeney, and Justin Russell with multiple counts of conspiracy to commit fraud by false representation following allegations of orchestrating an unauthorized investment scheme that resulted in significant financial losses for investors, totaling approximately £3.9 million. Additionally, Sweeney and Simmons face charges of money laundering in relation to the proceeds of the alleged scam.

March 8, 2024

Investor Alert: BaFin Investigates Burberryinvest Investment Scheme and its Unauthorized TikTok Share Offering!

FinTelegram warns investors about Burberryinvest, a company purporting to operate out of New York, USA, and London, UK, that is currently under investigation by the German regulator BaFin. Burberryinvest is falsely claiming to offer investors the opportunity to purchase shares in Beijing Bytedance Technology Ltd, commonly referred to as "TikTok shares," despite lacking the necessary licensing and authorization under German financial regulations.

January 13, 2024

U.S. Citizen Charged for Multimillion-Dollar Pyramid Scheme

The U.S. Department of Justice (DOJ) recently announced an indictment against Alex Dee, a U.S. citizen residing in Canada, for orchestrating a multimillion-dollar pyramid scheme through 8 Figure Dream Lifestyle LLC (8FDL). Additionally, the co-founders Brian Kaplan, 52, of Fort Collins, Colorado, and Jerrold Maurer, 58, have pleaded guilty to one count of conspiracy to commit wire fraud, facing a maximum of five years in prison.

January 9, 2024

U.S. Serial Fraudster Sentenced for Role in Multiple Investment Fraud Schemes!

The U.S. DOJ announced that Daniel Thomas Broyles Sr., also known as Dan Thomas, a 66-year-old fro, California, has been sentenced to 4 years in prison for his involvement in two separate high-yield investment fraud schemes, which swindled millions of dollars from elderly and vulnerable individuals. Broyles and his accomplices ran a deceptive operation through the sham company Niyato.

November 20, 2023

Wanted: Accused Mastermind Of Canadian $300 Million Mortgage Broker Scheme Vanished!

Gordon Hoekstra in the Vancouver Sun reports that in a recent development that has stunned investors and rattled the mortgage brokerage industry, Greg Martel, a British Columbia-based mortgage broker, faces serious allegations of orchestrating a Ponzi scheme amounting to over $300 million. This case has become one of the most significant financial scandals in Canadian history, with Martel now a wanted individual, last sighted in Thailand.

July 18, 2023

Compliance Check: Introducing Pre-Ipo Investment Scheme Dizraptor!

Dizraptor is an investment scheme that offers pre-IPO investments to accredited investors through its website and a dedicated app. Dizraptor, operated through a Delaware entity, was founded by those Russians who launched crypto-based trading and investment platform Utex a/k/a United Traders via an Initial Coin Offering (ICO) in 2017. Dizraptor is based on a similar concept as Utex, but cryptos no longer play a role. Here is our compliance check.

July 2, 2023

Urgent Warning Against Assetmark Holdings And Arrington Capitals Crypto Investment Scams!

Assetmark Holdings and Arrington Capitals are crypto investment scams offering investors various investment plans that yield up to 4% daily profit. The websites do not provide any information about the operators. An address in Wallsend, United Kingdom, is the contact address. This is also the registered office of Asset Access Ltd. We cannot confirm whether this company operates these investment scams. In any case, you should stay far away and secure your financial health.

June 12, 2023

Attention: Spanish Regulator Warns Against The Royal Investment Consortium Scheme

Over the last months, FinTelegram warned against the Royal Investment Consortium scheme. Several financial markets regulators, such as the Italian Consob, the Maltese MFSA, CSSF Luxembourg, or FSC Mauritius, have warned against Frank Rottmann's investment scheme. Today, the Spanish CNMV warned against this fraudulent investment scheme. Please stay far away. Protect your money and your financial health.

Binance Chief Financial Crime Compliance Officer Denied Bail in Nigerian Case!

Think twice before starting to work for the world's larger crypto exchange. As Binance’s financial crime compliance officer faces money laundering charges in Nigeria, questions mount over the company’s compliance safeguards and the risks involved in its global operations. The denial of bail for Tigran Gambaryan and the ongoing legal battle could have far-reaching implications for the company’s future.

Fintech

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.

SEC Charges Market Manipulators in Crackdown on Crypto Asset Fraud

The U.S. SEC has charged three market makers and nine individuals for manipulating the crypto asset market, generating artificial trading volumes and misleading retail investors. The fraudulent schemes created the illusion of active markets, prompting unsuspecting investors to pour money into manipulated crypto assets. The DOJ filed criminal charges against the scheme operators in a parallel transaction.