CFTC charges two Israeli and an American in a $20 mln scam May 07 2020
The Commodity Futures Trading Commission (CFTC) in the U.S.has charged Daniel Fingerhut, Tal Valariola and Itay Barak for their part in a 20 million USD binary options and crypto scam.
Valariola and Barak, both from Israel, controlled three marketing companies – Digital Platinum Inc., based in the U.S., Florida, Digital Platinum Ltd.in Israel, and Huf Mediya Ltd.in Bulgaria, which allegedly created fraudulent marketing materials, assuring investors of fast and easy returns, with no risk at all, if they only agreed to open a trading account with certain unregulated brokers, which on their part paid commission to the perpetrators.
Fingerhut, an American from Florida, managed Digital Platinum affiliate marketing program, disseminating “millions of fraudulent solicitations advising customers and prospective customers to open and fund digital assets trading accounts”, CFTC said in a statement.
The marketing materials featured actors posing in front luxury mansions and private jets, who falsely claimed they were “enjoying rich lifestyles from trading binary options,” while their trading balances increased automatically.
The marketing materials also featured “numerous false and misleading statements” about algorithmic trading software, which was “promised to generate massive and guaranteed profits with zero risk of loss.”
According to CFTC from October 2013 through August 2018 over 59 000 customers opened and funded trading accounts, depositing no less than 250 USD each., resulting in loses for investors of between 15 million USD and 20 million USD.ASIC cancels the forex broker license of OliveFX May 07 2020 07:41:44
The Australian Securities & Investments Commission (ASIC) has canceled the license of Olive Financial Markets Pty Ltd., the parent of Olive FX, the regulator announced on Tuesday.Read more Quantom Capital and Platinum Forex Signals get under the radar of the FCA May 04 2020 13:00:29
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Read more Spain’s CNMV warns against RoyalFXtrade and MCI Investments Apr 29 2020 13:48:29
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Facing growing regulatory hurdles, Libra, the controversial Facebook crypto currency project, has been redesigned to include multiple versions of the proposed stable coin, each backed by a single fiat currency like the Euro or the U.S.
dollar.Read more Italy’s CONSOB blacklists Tradefxzone and FXtrading Corp Apr 27 2020 13:32:57
Unregulated forex brokers Tradezone24 (Tradefxzone) and FXtrading Corp are some of the latest additions to the warning list of the Commissione Nazionale per le Societa e la Borsa (CONSOB).
Read more Judge orders arrest of former US senator involved in “Meta 1 Coin” scam Apr 23 2020 11:15:54
A federal judge in Texas issued warrants for the arrest of former Republican Washington state Sen.David Schmidt and Robert Dunlap, who have been charged with $4.3 million ICO scam.
The two men failed to appear at a hearing with the U.S.Read more Belgium’s FSMA also warns of coronavirus scams Apr 21 2020 17:58:30
The Financial Services and Markets Authority (FSMA) in Belgium warns the public against scams exploiting the current situation of economic uncertainty due to the spread of the coronavirus.Read more FCA reports drop in forex and CFD complaints Apr 16 2020 20:49:33
The Financial Conduct Authority (FCA) in the UK surprisingly reported fewer forex and CFD complaints in the second half of 2019, compared to the same period the previous year.
Read more CoinBits and Trendingraphs end up on FCA’s warning list Apr 15 2020 15:43:40
Some of the latest editions to the warning list of the UK`s Financial Conduct Authority (FCA) are unregulated brokers CoinBits and Trendingraphs.The regulator said that these entities have been providing financial services or products in the UK without its authorization.Read more ASIC focuses on customers, who might get victims of corona scams Apr 14 2020 23:56:16
The Australian Securities and Investments Commission said it will focus on efforts to protect consumers vulnerable to scams relating to the current situation with .
