Economics and Finance | FinTelegram News

Category: Economics and Finance

July 11, 2023

Real Estate Banking Crisis: ECB Reviews Lenders Of Real Estate Giant Signa!

The Austrian real estate investor Rene Benko has developed his Signa Group into one of the largest European real estate groups. Signa has run into rough waters with banks. First, reports last week about adjustments to the old balance sheets of the real estate group caused initial nervousness. Now it became known that the European Central Bank (ECB) was scrutinizing banks involved regarding their lending to the Signa Group. This has not happened before.

June 30, 2023

Attention: Real Estate Tycoon René Benko And His Signa Group Are Facing Mounting Financial Issues!

SIGNA Sports United (SSU), a specialist sports e-commerce company listed on the NYSE, released its Q2 2023 financial results, which were disappointing. YoY, sales declined by over 23% and gross profit by over 52%. The company experienced a 2% decrease in revenue for H1 2023, attributing it to subdued demand and market overstock. SSU is a part of the Signa Group, led by Austrian real estate investor Rene Benko.

June 29, 2023

The Crypto Rat Race Continues With Fidelity Investments

Fidelity Investments, a prominent asset management firm, is making another attempt to launch a spot Bitcoin ETF. This move follows BlackRock's recent filing for a spot bitcoin ETF, despite the U.S. Securities and Exchange Commission (SEC)'s historical resistance. WisdomTree, VanEck, Invesco, and Ark Invest, led by celebrity investor Cathie Wood, have taken steps toward their own Bitcoin funds, aligning them closer to BlackRock's application.

June 29, 2023

Shortseller Fraser Perring Was Right: Office Raids At Adler Group Over Market Manipulation!

In the last few days, there has been a Europe-wide raid at the Adler Group over the suspicion of balance sheet falsification and market manipulation. The German public prosecutor's office announced that 175 law enforcement agents searched 21 properties in various countries. Likely, the allegations made by short-seller Fraser Perring and his Viceroy back in 2021 will prove true. Adler Group is connected to the Austrian real estate gambler Cevdet Caner.

June 16, 2023

Remarkable: BlackRock Files For Spot Bitcoin ETF And Names Coinbase As A Crypto Custodian!

BlackRock, one of the world's largest asset management firms, has taken its initial steps towards introducing a bitcoin exchange-traded fund (ETF). On Thursday, the company submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch the iShares Bitcoin Trust. If approved, this ETF would provide investors with convenient access to cryptocurrency through a product offered by one of Wall Street's largest companies.

Economics and Finance

May 24, 2023

JPMorgan CEO Jamie Dimon Warns About High Interest Rates And Real Estate Crisis

Economists and JPMorgan Chase CEO Jamie Dimon share concerns regarding the $20 trillion commercial real estate (CRE) industry in the United States. During his company's shareholder meeting, Dimon warned about the repercussions of the regional banking crisis on commercial real estate lending. Deposit runs have already led to the collapse of three U.S. banks this year, and now there is a growing crisis in the commercial real estate sector.

Shortseller

May 23, 2023

The Short-Seller Battle Around Japanese Abalance Continues On Twitter!

Viceroy Research's new short-seller battle against Japan's Abalance continues. As usual, Fraser Perring and his comrades are using Twitter (#Abalance) as the battleground to create pressure to send Abalance's stock south. That's their business model. So far, the success has been manageable. Although the stock plunged nearly 30% after the release of the first report on May 17, 2023, it recovered somewhat and is down just under 25%.

May 19, 2023

No Hostages Taken: Short-Seller Battle Around Japanese Abalance Escalates!

The short-sellers at Viceroy Research around Fraser Perring have discovered a new target: the listed Japanese company Abalance. As with other targets such as Wirecard, Grenke, or Adler Group, they claim to have discovered irregularities and false statements. The Abalance share has recovered after a 30% crash. Today, another Viceroy update on Abalance has appeared with new serious allegations against the company and its CEO.

Shortseller

May 18, 2023

Shortseller Viceroy Research Targets Japanese Abalance Alleging Violation Of Trading Regulations!

On May 17, 2023, Viceroy Research published a devastating report on Abalance (website), a Japanese solar panel manufacturer. Approximately 90% of the company’s revenues are derived from its Vietnamese subsidiary, Vietnam Sunergy Joint Stock Corporation (VSUN). Viceroy alleges the VSUN would de-facto be a pass-through assembly plant for Chinese products. It serves the sole purpose of avoiding US Anti-Dumping and Countervailing Duties (AD/CVD).

Shortseller

May 9, 2023

Viceroy Shortsellers Seem To Be Right About Swedish Real Estate Developer SBB

SBB's annual report was not coherent. He accused SBB and its CEO, Ilija Batljan, of misleading and defrauding investors (reports here). On Monday, S&P Global Ratings downgraded Stockholm-based SBB, one of Europe's most indebted real-estate developers, to junk status. On Twitter, Perring said that the downgrade brings Barljan to the verge of bankruptcy:

May 4, 2023

Popcorn Time: Hindenburg Research Shortseller Against Corporate Raider Carl Icahn!

The short-sellers behind Hindenburg Research have struck again and, this time, found a very prominent victim. The target of their revelations is the company of legendary corporate raider and activist investor Carl Icahn. Icahn Enterprises (IEP) is an $18 billion market cap holding company. Icahn and his son Brett own approximately 85% of the company. The company's shares have lost more than 36% since the Hindenburg revelations.

Shortseller

April 25, 2023

Good News For Shortsellers: German Adler Group With Record Loss!

The short-sellers around Viceroy Research and Fraser Perring were right with their analyses. The struggling German real estate group Adler Group announced a 2022 loss of almost €1.7B due to a devaluation of the real estate portfolio and value adjustment on receivables. In 2021, the company reported a net loss of almost €1.2B. The Adler Group has been under fire from Viceroy Research for several months. Perring considers the Turkish-born Austrian Cevdet Caner to be the beneficial owner.

US Treasury Forgives Ukraine Looters!

On 26 September 2024, the United States Treasury’s Financial Crimes Enforcement Network ‘FinCEN’ made the astonishing decision to drop sanctions against ABLV Bank of Latvia. ABLV was sanctioned in 2018 for a list of reasons, including helping Ukrainian President Viktor Yanukovich’s bagman, Serhiy Kurchenko, steal billions of dollars from Ukraine.

Gurbir Grewal’s Departure from the SEC: His New Position and Potential Impact on Crypto Regulation!

Gurbir S. Grewal, the former Director of the Division of Enforcement at the U.S. Securities and Exchange Commission (SEC), has left his position to join Milbank LLP, one of the most innovative and prestigious law firms globally. This transition from his high-profile regulatory role to private practice is likely to have lasting implications, particularly on the SEC’s enforcement strategy in the crypto sector.

Warning Against The Imminent Danger of Pig Butchering For The Dawning Cyber Society!

Pig butchering scams are a devastating form of cybercrime that blend romance and investment fraud, leaving victims emotionally and financially shattered. These sophisticated operations, run by organized crime syndicates, often exploit human trafficking victims as unwilling scammers. The perpetrators meticulously cultivate trust over months, luring targets into fraudulent cryptocurrency investments through fake platforms.

MLM Schemes

Latest Arrests in $4 Billion Forex AI Fraud Scheme OmegaPro and the Austrian Connection!

FinTelegram has reported on the fraudulent crypto MLM schemes OMNIA Tech and OmegaPro several times in the past. This week, various media outlets have reported the arrest of Robert Velghe in Turkey, who has played a crucial role in both scams. The OmegaPro MLM scam is believed to have stolen around $4 billion from victims worldwide. Here is our update with a request for additional information from whistleblowers.

Crypto MLM Scam: David Carmona Sentenced to 121 Months for IcomTech Crypto Ponzi Scheme!

iComTech was one of the numerous fraudulent MLM schemes that used cryptocurrencies as a means of fraud in parallel with the crypto hype of 2017/18. David Carmora started IcomTech in approximately 2018 with other co-conspirators as a purported cryptocurrency mining and trading company. The scheme promised to earn its victims high profits and guaranteed daily returns that would double their money within six months.