by Broker Fraud | Dec 30, 2020 | Investment Fraud, Securities Fraud
The United States District Court for the Southern District of New York on October 1, 2020, unsealed a criminal indictment against four BitMEX executives for violations of the U.S. Bank Secrecy Act (BSA).1 It is a move that is noteworthy in that the “Department...
by Broker Fraud | Oct 1, 2020 | Investment Fraud, Securities Litigation
Wells Fargo Sanctioned by FINRA for Not Supervising Variable Annuity Transaction Switches to Other Company Products In February, Wells Fargo settled a civil lawsuit and criminal prosecution filed ty the U.S. Department of Justice stemming from the 2016 disclosure that...
by Broker Fraud | Jul 28, 2020 | Investment Fraud, Securities Fraud
Banks are subject to rules which require them to verify the identity of their customers. This is a problem for criminals who have large sums of cash from illegal activities. Increasingly, criminals have turned to cryptocurrency to launder their cash. Chainalysis, a...
by Broker Fraud | Mar 28, 2020 | Investment Fraud, Securities Fraud
Wells Fargo Settles with SEC Over Charges Related to Single Inverse EFT Investments The U.S. Securities and Exchange Commission announced on February 27, 2020, that it had settled charges it lodged against Wells Fargo Clearing Services and Wells Fargo Advisors...
by Broker Fraud | Feb 29, 2020 | Investment Fraud, Securities Fraud, Securities Litigation
The psychology behind celebrity endorsements of products seems simplistic. The human brain recognizes celebrities similarly to how it recognizes people we actually know.1 People feel that they know the celebrity and that they can trust the celebrity and when that...
by Broker Fraud | Jan 31, 2020 | Investment Fraud, Ponzi Scheme
The legal recreational marijuana industry is in its infancy in Michigan, but so far it appears to be a booming business. In the first two weeks of December 2019 just a few licensed retail shops grossed more than $3 million in sales and the projections by state budget...
