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In August 2008, the CFTC set up a special task force to deal with growing foreign exchange fraud. [3] In January 2010, the CFTC proposed new rules limiting leverage to 10 to 1, based on "a number of improper practices" in the retail foreign exchange market, "among them solicitation fraud, a lack of transparency in the pricing and execution of transactions, unresponsiveness to customer ...
UBS also pleaded guilty to committing wire fraud and agreed to a $203 million fine. A sixth bank, Bank of America, while not found guilty, agreed to a fine of $204 million for unsafe practices in foreign markets. [28] [29] On 18 November 2015 Barclays was fined an additional $150m for automated electronic foreign exchange misconduct. [26]
In light of the charges, the State Bank of Pakistan revoked the license for Khanani and Kalia International to operate its foreign exchange business and shut down its offices. On March 5, 2011, the directors of Khanani and Kailia International and four bankers were acquitted of all charges due to lack of evidence. The judge cited the ...
Sam Bankman-Fried will learn his sentence Thursday, four months after he was found guilty of orchestrating the multibillion-dollar fraud that prompted the collapse of the FTX cryptocurrency exchange.
The Commodity Futures Trading Commission (CFTC) has charged a Florida resident and his companies for illegally collecting $1.6 million in an alleged cryptocurrency fraud.The post CFTC charges ...
A former top aide to New York Gov. Kathy Hochul was arrested Tuesday on federal charges of acting as a secret agent of the Chinese government, authorities said.. Linda Sun, 41, is accused of using ...
Food fraud; Foreign exchange, or "Forex" – any trading scheme used to defraud stock traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. (U.S., 2008) [14] Forgery
WinCapita, previously WinClub and GiiClub, was a Finnish Internet-based Ponzi scheme that advertised itself as a private investment club engaged in currency trading.In reality, it was a bucket shop like many other foreign exchange fraud schemes.