Regulator alleges scheme devised by Canadian citizen
Agreement in principle reached, regulator says
Four men facing penalties
Scheme raised in US$34 million from investors in U.S., Canada
Reeves lied to investors and misappropriated their money
Naqui mismarked trading positions, concealed losses
Regulator identifies more firms that appear to be connected Global and Crown
Foreign exchange fraud will be discussed by law enforcement and regulatory agencies at the fourth annual White Collar Crime Symposium in Saint John, N.B. on December 10. The symposium is hosted by the New Brunswick Securities Commission“Enabled by the internet and with the promise of high returns, forex trading is on the rise in Canada,” […]
Source: The Associated PressThe bank used most by Bernard Madoff was “wilfully blind”and “thoroughly complicit” in the disgraced financier’s epic fraud, lawyers working for a court-appointed trustee alleged Thursday.J.P. Morgan Chase responded by accusing trustee Irving Picard of “blatantly distorting” the bank’s role.Picard is in the midst of a nearly two-year quest to recover funds […]
Scheme misappropriated up to $27.9 million of investors’ funds