Category: Law Firms

TD Bank faces class action lawsuits over AML settlementT
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October 24, 2024

TD Bank Faces Class Action After Historic $3 Billion AML Settlement and Felony Guilty Plea!

TD Bank is facing multiple class action lawsuits following its unprecedented $3.09 billion settlement with U.S. authorities for widespread anti-money laundering (AML) violations. The lawsuits, filed by Bragar Eagel & Squire and Pomerantz Law Firm, allege that TD Bank misled investors and failed to disclose critical compliance failures, resulting in significant financial losses for shareholders after the market reacted to the settlement.
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What you have to know about money laundering reportsW
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June 18, 2024

What You Need to Know About Money Laundering Reports: The Case of Alisher Usmanov vs. UBS!

In a legal twist that promises to shed light on the intricacies of money laundering reports, Russian oligarch Alisher Usmanov has filed a lawsuit against UBS Europe SE in Frankfurt. This high-profile case, represented by the German law firm Gauweiler & Sauter, accuses UBS of making unlawful reports to the Financial Intelligence Unit (FIU), which led to criminal investigations and significant reputational damage for Usmanov.
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Vultures in court against Tesla and Elon MuskL
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March 3, 2024

Legal Vultures Demand $6 Billion Bounty from Tesla: A New High in Legal Fee Frenzy

A trio of law firms has thrown down the gauntlet, demanding a staggering $6 billion in legal fees from Tesla, payable in stock. This audacious request follows their successful bid to dismantle Elon Musk's colossal $56 billion compensation package, decried as excessively lavish. "We're charting new territory with this fee request – it's unparalleled in sheer magnitude," the firms brazenly declared in a Delaware Court of Chancery filing.
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FTX Bankruptcy CaseF
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February 27, 2024

FTX Strikes $33 Million Deal to Resolve Dispute Over European Venture

The bankrupt crypto exchange FTX has reached a $33 million settlement regarding its contentious European expansion effort. This resolution comes after FTX sought to recover $323 million spent on acquiring a European startup, a venture that has now concluded with the company being sold back to its original founders for $32.7 million. The heart of this dispute lay in FTX's 2021 acquisition of Digital Assets DA AG, a Zurich-based company that was rebranded as FTX Europe.
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The Josip Heit portrait on FinTelegramL
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February 15, 2024

Legal Superpower: The New “Most Feared” U.S. Law Firm Of Josip Heit And GSPartners!

As reported by FinTelegram, the U.S. authorities have taken massive action against Josip Heit and his crypto MLM scheme around GSPartners and Swiss Valorem Bank in recent weeks. A total of 12 U.S. states have issued warnings and cease and desist orders. According to BehindMLM, further investigations by U.S. authorities are also ongoing. Heit has mandated the U.S. law firm Quinn Emanuel Urquhart & Sullivan, LLP to get him out of his U.S. problems.
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letter from law firm Simmons Simmons regarding payment institution VoltO
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February 3, 2024

Open Letter to FCA in the Volt Case: It Is Not Them, It Is Only Their Technology!

Below is the letter from the UK lawyers of the FCA-regulated payment institution Volt. FinTelegram has mentioned that Volt (and many others) acts as a payment processor for online casinos and gambling. According to the UK law firm Simmons & Simmons, this is defamatory. Volt would only provide the technical infrastructure and, therefore, have no KYC/AML obligation. This is an interesting perspective that the FCA should look into. Here is the letter from the lawyers.
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lawyers should learn their lessons from the OneCoin caseF
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January 9, 2024

Financial Crime: The Crucial Role of Lawyers in Facilitating OneCoin and Similar Crypto MLM Frauds!

In a startling revelation of legal malpractice in the crypto industry, the OneCoin fraud case has brought to light the critical involvement of lawyers in facilitating large-scale financial scams. Recently, a German court sentenced Martin Breidenbach, an attorney implicated in the OneCoin scheme, as a money launderer. In the U.S., Mark S. Scott, a former lawyer at the reputable firm Locke Lord LLP, was also convicted of laundering $400 million from OneCoin proceeds.
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SLAPP attacks orchestrated by Berlin law firm IrleMoserM
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January 8, 2024

Meet The German Law Firm IrleMoser And Their Approach!

Selecting an appropriate law firm is crucial for entrepreneurs, particularly in high-risk sectors where business operations might straddle the fine line of legality. In such environments, some law firms play a key role in enabling operators of unregulated financial services or crypto MLM ventures to confront their detractors aggressively. One notable instance is Josip Heit of GSPartners, who relies on the Berlin-based law firm IrleMoser.
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Binder Groesswang represents SLAPP attack for MercuryoW
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December 4, 2023

Worthwhile Reading: How Libel Firms Are Implicitly Enabling Illicit Schemes Via SLAPP Attacks!

A remarkable analysis published by the Bureau of Investigative Journalism (TBIJ) on the UK law firm Carter-Ruck, renowned as Britain's fiercest libel firm, sheds light on the profound impact of libel laws and practices on democratic values. In recent years, FinTelegram has had several experiences with law firms that represent scammers or shoddy schemes without moral or legal scruples and try to help them by preventing criticism through SLAPP actions.
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G999 of Josip Heit is blacklistedI
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October 12, 2023

Interesting: GSPartners And Josip Heit Threatens To Sue FinTelegram Over Blacklisting!

FinTelegram has received another letter from the law firm of Josip Heit. The latter is (among others) the beneficial owner of GSB Gold Standard Corporation AG and operates the multi-level marketing (MLM) scheme GSPartners a/k/a Swiss Valorem Bank and the cash system G999. There are warnings against this scheme from financial regulators. Therefore, we have included it in our black compliance list. For this, FinTelegram is now threatened with lawsuits by Heit's German law firm.
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MLM artist Josip Heit and his legal battlesL
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August 29, 2023

Legal Opinion: Josip Heit, MLM Leader, Declared a Person of Public Interest!

Josip Heit, domiciled in Germany, is notably engaged in multi-level marketing endeavors. Legal representations made by his Berlin-based legal counsel, Irle Moser, as documented in court filings, attest to this. Mr. Heit holds authoritative positions in several corporate entities spanning jurisdictions, including the UK, Germany, Kazakhstan, Switzerland, and Mohéli. One might pose the legal question: Does he qualify as a person of public interest?
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Payvision accused of financial crimeA
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June 14, 2023

Another Court Defeat For The Payvision Gang And Their Austrian Law Firm!

Next court defeat for the now-closed Dutch payment processor Payvision. The founder, Rudolf Booker, positioned Payvision as a laundromat for scammers and operators of porn and gambling sites. In 2018, ING acquired Payvision with a valuation of €350 million. Booker had to leave in April 2020. Andre Valkenburg became the new CEO and continued running Payvision as Booker did. Valkenburg sued against this claim and lost.
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