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Reginald Fowler, an alleged operator behind payment processor Crypto Capital, was charged with wire fraud Friday, on top of existing charges of bank fraud, operation of an unlicensed money transmission business and conspiracy. According to an indictment filed Friday, Fowler allegedly created a scheme to obtain money "by means of
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Steve Chen, the ringleader behind the $100 million-plus Gemcoin fraud of 2013-2015, agreed to plead guilty Wednesday to tax evasion and conspiracy to commit wire fraud.The 62-year-old San Gabriel Valley resident will face a minimum of 10 years in prison, according to the Department of Justice (DOJ).As part of his
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The Commodity Futures Trading Commission (CFTC) has filed charges against a Colorado native and associated investment company on fraud charges. Denver local Breonna Clark, along with Colorado-based Venture Capital Investments Ltd., face civil action from the CFTC for defrauding investors, the agency said in a statement on Feb. 14.
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Natalie Portman wore a gown embroidered with the names of female directors who had been snubbed by the Oscars. Actress Rose McGowan posted a lengthy diatribe on her Facebook account, calling Portman out as a fraud. Neither McGowan or Portman come out of this situation smelling of roses, but McGowan is right. Natalie
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An Ohio man has been charged by the United States Securities and Exchange Commission for allegedly defrauding 150 investors in a cryptocurrency trading scheme.The SEC’s complaint, filed in federal court in New York on Feb. 11, accuses Michael W. Ackerman of raising at least $33 million in violation of
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French, Belgian and Israeli investigators have brought down a scheme that defrauded €6 million ($6.64 million) from French and Belgian citizens, a Jan 29. press release from Europol reads.The fraudsters promised significant returns for the victims’ investment in what appears to have been a Ponzi scheme.The international network of
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The U.S. Securities and Exchange Commission (SEC) has reached a settlement with fintech firm Longfin’s CEO, Venkata S. Meenavalli, on charges of fraud.According to an SEC press release Friday, Meenavalli has agreed to pay $400,000 in both disgorgement and penalties related to a 2017 Regulation A+ offering the SEC deemed
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Chargebacks were originally designed to protect consumers. Today, it’s ironic that merchants often need protection against this very system put in place to protect consumers. A chargeback is the return of funds to the consumer, by the bank, to settle a debt. In the event of a filed chargeback,
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A Chinese cryptocurrency fitness app has reportedly been placed under investigation for allegedly illegal fundraising practices and financial fraud.Nikkei Asian Review reported the news on Dec. 18, citing documents ostensibly accessed by its affiliate publication, KrASIA. Investors in limboAccording to the report, the market regulator in Changsha, the capital of
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Two Canadian men who defrauded a Bitcoin (BTC) investor out of $140,000 by impersonating exchange HitBTC may serve two years in prison.According to court records on Dec. 16, brothers Jagroop Singh Khatkar and Karanjit Singh Khatkhar pled guilty to charges of conspiracy to commit wire fraud over a scam
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