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June 6, 2023

Crypto Doom! U.S. SEC Files 13 Charges Binance And Founder Changpeng Zhao!

It was expected, but still, Bitcoin slipped to below $26,000 after the U.S. Securities and Exchange Commission (SEC) charged Binance, which operates the world's largest crypto asset trading platform. The charges name several entities and their founder, Changpeng Zhao (CZ), as defendants. They are charged with various securities law violations. in 136 pages, the SEC describes in great detail the Binance structure and has also identified CZ as the beneficial owner behind the Legal Entities.

June 5, 2023

Former CEO Of Collapsed Austrian Laundromat Meinl Bank Is To Be Extradited To The U.S.

A London court today granted the U.S. extradition request against the former CEO of the collapsed Austrian Meinl Bank, Peter Weinzierl. The decision is not final; Weinzierl will now appeal to the High Court. The U.S. accuses him, another ex-bank manager, and Julius Meinl V. of money laundering and bribery surrounding the Brazilian Odebrecht Group scandal. Meinl Bank has been notorious for the laundering of Russian money.

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June 5, 2023

Attention: Belgian Regulator Issues Fraud Warning Against 38 Unauthorized Brokers!

The Belgian regulator Financial Services and Markets Authority (FSMA) has identified 38 online trading platforms operating without the necessary licenses in the country. The list includes various forex, CFD, and crypto brokers. The FSMA points out that these unlicensed trading platforms employ deceptive tactics such as scam advertisements on social media. They lure unsuspecting individuals with promises of quick wealth and above-average returns.

June 4, 2023

Disappointed Whistleblowers Appeal Against The $279 Million SEC Whistleblower Case!

Two whistleblowers who provided tips to the U.S. Securities and Exchange Commission (SEC) and the Justice Department (DOJ) in a bribery case against Ericsson appealed the SEC's decision to reject their claims while awarding another informant a record-setting $279 million. One of the claimants is Liss-Olof Nenzell, a former Ericsson executive; the other remains anonymous to adhere to whistleblower protection rules.

June 2, 2023

International Law Enforcement Actions Against Human Trafficking

From 8 to 15 May 2023, an international law enforcement action was undertaken to against human trafficking for sexual exploitation, forced begging, and forced criminal activities. This Operation Global Chain encompassed 44 countries, consisting of 25 EU member states and 19 non-EU countries coordinated by Europol, Frontex, and INTERPOL. Law enforcement agents arrested 212 individuals and identified 138 suspected traffickers identified.

May 31, 2023

Urgent Warning: Don’t Be A Pig! Don’t Get Butchered! Do Not Fall For Tinder Trading Scams!

Anyone looking for love on the Internet can quickly become the focus of criminals. In Bavaria, Germany, alone, at least €20 million has been scammed via single exchanges and social networks, according to the Zentralstelle Cybercrime. Investigators call the rapidly spreading fraud method "Tinder Trading Scams." Scammers try to contact potential victims via dating portals such as Tinder or social networks such as LinkedIn.

May 31, 2023

Qatargate: Suspected Lawmaker Eva Kaili Asks To Return To EU Parliament!

EU lawmaker Eva Kaili, arrested five months ago as part of the Qatargate investigation into corruption allegations within the European Parliament, is now preparing to return to work. The Belgian prosecutor announced that she is no longer under house arrest. She allegedly asked to return to the EU Parliament. Kaili's lawyers confirmed that she can now resume her duties. However, travel restrictions still prevent her from attending plenary sessions in Strasbourg.

May 30, 2023

Capitalix Update: The Offshore Broker’s Growth Continues Despite Scam Ratings!

Capitalix, an offshore broker operated by 4Square SY Ltd, holds a Security Dealer license issued by the FSA Seychelles. The payment agent for the offshore broker is 4Square (CY) Ltd, registered in Cyprus. Capitalix operates boiler rooms in Cyprus, Romania, and Columbia and is connected to the CySEC-regulated investment firms iTrade Global (CY) Ltd and Titanedge Securities Ltd. We have included the broker scheme in our Red Compliance list.

May 29, 2023

The Unsung Heroes: The Crucial Role of Whistleblowers in Modern Society!

Whistleblowers play a vital role in the fabric of modern society by exposing wrongdoing, promoting transparency, and holding individuals and organizations accountable. Their motivation to expose wrongdoing is a bulwark against corruption, corporate misconduct, government malfeasance, and a range of other unethical practices. This short essay explores whistleblowers' significance and impact on society, emphasizing the benefits they bring and the challenges they face.

May 27, 2023

Former Startup CFO Pleads Not Guilty To $35 Million Embezzlement Charges!

On 25 May 2017, Nevin Shetty, 39, was arraigned in U.S. District Court on the indictment of wire fraud and misusing funds and pleaded not guilty. He was the former CFO of Seattle-based startup Fabric when he allegedly diverted approximately $35 million to his crypto side business, HighTower. Fabric raised $140 million in a Series C funding round led by SoftBank and attained a valuation of $1.5 billion last year.

May 26, 2023

UK Cybercrime Mastermind Tejay Fletcher Sentenced to 13 Years In Prison!

Tejay Fletcher, 35, the founder and mastermind behind the iSpoof online fraud operation that defrauded over £100 million, has been sentenced to over 13 years in prison. He enjoyed lavish purchases, including a Lamborghini worth £230,000, two Range Rovers valued at £110,000, and an £11,000 Rolex watch. He allegedly made approximately £2 million from the iSpoof website, which was shut down last year in the UK's largest fraud crackdown.

May 25, 2023

Russian-Controlled Offshore Broker Scheme GrandCapital Received Red Compliance Rating!

FinTelegram published its initial review of the GrandCapital broker scheme in April 2022. We uncovered that GrandCapital and GC Option offshore brokers are controlled by Russian individuals and operated through various offshore entities in St. Vincent & The Grenadines, Seychelles, South Africa, Nigeria, and Namibia. Regulators have already warned against this offshore broker scheme. We have assigned a Red Compliance rating to GrandCapital.