The U.S. Securities Investor Protection Corp. (SIPC) today cautioned investors about a new identity theft scam designed to extract confidential information and cash from unwary individuals. The SIPC help investors at failed U.S. brokerage firms.SIPC officials said they are investigating phony emails sent by a supposed “senior investment advisor” claiming to act for an actual […]
Canadian seniors lose $6 million annually to fraudulent marketing and financial scams
A former B.C. mutual fund dealer is facing fraud charges in a scheme that police say cost investors $10 million.The Vancouver Integrated Market Enforcement Team (IMET), Victoria police and the FBI have formally charged Ian Thow with 25 counts of fraud over $5,000.IMET began investigating Thow in the summer of 2005 after complaints were lodged […]
Ex-CEO Dunn charged with fraud
U.S. regulators and law enforcement brought charges against two former portfolio managers from Bear Stearns Asset Management over the collapse of their hedge funds last summer.The US Securities and Exchange Commission charged the fund managers with misleading investors about the financial state of the firm’s two largest hedge funds, and their exposure to subprime mortgage-backed […]
Interactive DVD shows negative consequences of falling victim to a scam
Client funds not invested as promised, police say
U.S. regulators are warning international investors that advance-fee fraudsters are impersonating regulators as part of their scams.The Financial Industry Regulatory Authority issued an updated investor alert warning international investors about a new twist in advance-free fraud involving low-priced US securities. Con artists have been misusing FINRA’s name and impersonating FINRA employees in email communications in […]
Men are more likely to have been defrauded more than once
The U.S. Securities and Exchange Commission announced the launch of its latest offensive targeting online boiler rooms, cold calls, and other potentially fraudulent financial solicitations.The SEC’s initiative is called “PAUSE” for Public Alert: Unregistered Soliciting Entities. The SEC is providing investors with information that it has received from investor complaints and other sources, including foreign […]