On Apr. 18, 2019, DoJ said two investment executives were extradited by Japan. Junzo Suzuki and son Paul Suzuki, 40, were charged in 2015 indictment re fraud. Japan arrested Suzukis in Jan 2019 at US request and extradited them on Apr. 17. Junzo Suzuki previously was an executive VP for Asia Pacific of MRI International.…
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SEC $1.2bn Woodbridge Ponzi
On Apr. 11, SEC, DoJ charged Woodbridge owner in $1.2bn Ponzi. Two former Woodbridge Group directors Ivan Acevedo and Dane Roseman were arrested and charged by authorities, with the Woodbridge owner Robert Shapiro. Follows SEC Jan. 2019 court order to Woodbridge pay $1bn settlement, #52374. Charged with conspiracy for mail and wire fraud, money laundering,…
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SEC Silicon Valley Startup Fraud
On Apr. 2, SEC fined Silicon Valley start-up CEO $17mn for fraud. Daniel Mattes CEO of Jumio, private mobile payments company charged re fraud. Charges Overstated 2014-14 revenue and sold his shares in the private, secondary market. Complaint alleges he made $14mn selling shares and hiding sales from the board. Falsely told an investor that…
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CFTC $1mn Fine for Futures Scam
On Mar. 28, CFTC fined trader $1mn for commodity futures fraud. William Powderly fraudulently solicited customers and distributed false statements. Charges Defendant claimed that he and a university professor developed a trading program. Said it generated hypothetical trading results, of gains without a single day of loss. Powderly took $1.2mn from 7 customer, sustained $1mn…
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CFTC Choi Forex Ponzi CTA Fraud
On Mar. 18, 2019, CFTC entered order of final judgment against Choi, Apuro, JCI. Pay $1.12mn restitution to defrauded customers, $1.12mn civil monetary penalty. Had also imposed permanent trading and registration bans against the defendants. CFTC issued several customer protection fraud advisories on fraud warning signs, including Forex fraud advisory, a sharp rise in Forex…
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UK FCA Fined UBS AG £27.6mn
On Mar. 19, UK FCA fined UBS for transaction reporting failures. FCA fined UBS AG £27.6mn for transaction reporting failure Nov. 2007-May 2017. Allegations Failed to give complete, accurate information, re 86mn reportable transactions. In error, reported 49mn transactions to FCA, which were not, in fact, reportable. Over 9 1/2 years, made 135.8mn errors in…
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