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In March 2022, RagingBull.com as well Sherwood Ventures LLC and defendants Jason Bond and Jeff Bishop paid $2.425 million to settle what the FTC called "bogus stock earnings claims" and a hard to cancel subscription service. The company also agreed to modify certain marketing practices. [15] [16]
Money for Nothing. Every year, about 90% of consumers either fall for or encounter online scams. And while many consumers are sophisticated enough to avoid some of the most common scams, it doesn ...
Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodities markets that induces investors to make purchase or sale decisions on the basis of false information.
The U.S. Securities and Exchange Commission (SEC) has said that "these fraudulent schemes involve the purported issuance, trading, or use of so-called 'prime' bank, 'prime' European bank or 'prime' world bank financial instruments, or other 'high yield investment programs.' (HYIP's) The fraud artists ... seek to mislead investors by suggesting ...
On top of losing his life savings to scammers, Chester Frilich of Concord, California is facing a tax bill of over $30,000 which could end in him losing his home.
Counterfeit savings bonds have been on the rise in recent months, and nationwide losses because of the scam have so far amounted to $50 million, according to the Oklahoma Bankers Association (OBA)....
The Indian television series Scam 1992 is based on his life and fraudulent activity. Trevor Milton, founder and former CEO of Hydrogen Trucking company Nikola inc. Convicted of Fraud lying to investors to pump the companies stock price.
Commodities trader Tino De Angelis defrauded clients, including the Bank of America into thinking he was trading vegetable oil. He got loans and made money using the oil as collateral. He showed inspectors tankers of water, with a bit of oil on the surface. When the fraud was exposed, the business collapsed. Herstatt Bank: West Germany: 26 June ...