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Mustafa Abdel-Wadood: Industry Ban

December 22, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Mustafa Abdel Wadood, described as a citizen of Egypt, for "the misappropriation of fund assets from one private equity fund client of the Abraaj Group and an offering fraud against investors in another Abraaj fund".

Robinhood Financial, LLC: $65M Fine

December 17, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $65 million on Robinhood Financial, LLC, described as a Delaware-domiciled "self-directed securities brokerage" based in Menlo Park, California, for "material misrepresentations and omissions by Robinhood relating to its revenue sources".

Mancera SC, et al: $1.6M Penalty & Bans

December 17, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing a financial penalty of $1,589,926 on Mancera SC, described as "the Mexican member firm of Ernst & Young Global", and bans on accountants Alejandro Valdez Mendoza, CP and Angel Radames Corral Nieblas, CP, both citizens of Mexico, for regulatory breaches regarding Desarrolladora Homex, SAB de CV, which was described as a construction firm that "engaged in a massive fraudulent accounting scheme over at least a three-year period" and whose shares were listed on the Mexican Stock Exchange and New York Stock Exchange.

Mark E. Watson III: $450K Fine

December 10, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $450,000 on Mark E. Watson III for his "role" in Bermuda-based insurer Argo Group International Holdings Ltd.'s failure to disclose "over $5.3 million in perquisites and personal benefits" while he was the company's CEO, President, and a director.

BlueCrest Capital Management Ltd.: $170M Penalties

December 8, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $170 million on BlueCrest Capital Management Limited, of Jersey, in the Channel Islands, for regulatory breaches involving, inter alia, BlueCrest Capital International Master Fund Limited and BSMA Limited, both of the Cayman Islands.

Rajesh Taneja: Industry Ban

December 4, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Rajesh Taneja, described as "a citizen of Canada and a resident of Vietnam", for alleged fraud and unregistered activity.

Bitstamp Ltd.: $15K Fine

November 13, 2020
Stipulation and Consent Order regarding the State of Vermont Department of Financial Regulation and Bitstamp Ltd., described as a provider of "online virtual currency services", based in England,

Dafex Global Ltd.: Permanent Ban

October 28, 2020
Decision by the National Futures Authority imposing a permanent ban on Dafex Global Ltd., of Colorado, described as "a former NFA Member and current CFTC-registered commodity pool operator and commodity trading advisor that operates mainly from Malaysia", for "engaging in a deceitful course of conduct to obtain NFA membership and CFTC registration and willfully submitting misleading information to NFA". Editor's Note: Research by OffshoreAlert showed that Dafex Global Ltd. has an affiliate with the same name in England and Wales, where Companies House records identify its sole director as Nithyanandan Pushparaja, a citizen and resident of Malaysia who is also the registered agent for the Colorado company, and a former director as Enhe Wang, a citizen and resident of China, who resigned on March 23rd, 2020.

Tradenet Capital Markets Ltd.: $130K Fine

October 23, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $13,000 on Tradenet Capital Markets Ltd., of Israel, for regulatory breaches.

Goldman Sachs Group, Inc.: $1B Penalties Re. 1MDB

October 22, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $1.06 billion on The Goldman Sachs Group, Inc. regarding "a scheme perpetrated by now former senior employees of Goldman Sachs who authorized and paid bribes and kickbacks to government officials in Malaysia and the Emirate of Abu Dhabi in order to secure lucrative business for the Company and benefits for themselves" involving 1Malaysia Development Berhad, a.k.a. 1MDB.

Goldman Sachs Group Inc.: $150M Fine

October 22, 2020
Consent Order by New York State Department of Financial Services imposing a fine of $150 million on The Goldman Sachs Group Inc. for "the fraudulent misappropriation of funds from Malaysia's strategic investment development fund, known as 1Malaysia Development Berhad".

Big Time Holdings Inc.: Securities Registration Revocation

October 19, 2020
Administrative Order by the U. S. Securities and Exchange Commission revoking the registration of securities issued by Big Time Holdings, Inc., described as a "forfeited Delaware corporation located in Douglas, Isle of Man". Editor's Note: In a filing with the SEC on October 29th, 2018, Big Time Holdings Inc. identified its CEO and sole director as David Smeed, its former directors and officers as Thomas DeNunzio, Brian Kistler, and Mandla Gwadiso, and its principal shareholders as Ascot Group Plc, of the Isle of Man, and Palewater Global Management, Inc., of New York, NY. Records filed with the Isle of Man's Companies Registry show that the directors of Ascot Group Plc are David Gordon Smeed, of Dublin, Ireland, and Lee John Bernard Murphy, of the Isle of Man.

JBS SA et al: $27M Penalties

October 14, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $27,416,565 on JBS S.A., Joesley Batista, and Wesley Batista, all of Brazil, regarding "a bribery scheme".

J.P. Morgan Securities LLC: $35M Penalty

September 29, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $25 million and disgorgement of $10 million on J.P. Morgan Securities LLC for regulatory breaches.

JPMorgan Chase & Co. et al: $920M Penalty

September 29, 2020
Administrative Order imposing penalties totaling $920 million on JPMorgan Chase & Co., JPMorgan Chase Bank NA, and J.P. Morgan Securities LLC for "a pattern of spoofing in the precious metals futures market and in the U.S. Treasury futures market".

Kroll Bond Rating Agency, LLC: $1.25M Fine

September 29, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $1.25 million on Kroll Bond Rating Agency, LLC for regulatory breaches.

Kroll Bond Rating Agency, LLC: $765K Penalties

September 29, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $764,836 on Kroll Bond Rating Agency, LLC for regulatory breaches.

Fiat Chrysler Automobiles NV: $9.5M Fine

September 28, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $9.5 million on Fiat Chrysler Automobiles N.V. , described as "a Dutch public company headquartered in London, United Kingdom", for the "VW 'dieselgate' scandal".

Christopher Bachinski: $36K Penalty

September 25, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing a penalty of $36,590 on Christopher D. Bachinski for alleged insider trading involving Buckeye Partners LP, of Houston, Texas, and IFM Investors Pty Ltd., of Australia.

BMW et al: $18M Fine

September 24, 2020
Administrative Order imposing a fine of $18 million in U. S. Securities and Exchange Commission v. Bayerische Motoren Werke Aktiengesellschaft, of Germany; BMW of North America, LLC and BMW US Capital, LLC, both of Delaware, regarding "inaccurate disclosures ... of its retail vehicle sales volume in the United States".

Michael Vernon: $35K Fine

September 24, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $35,000 on Michael Vernon, a resident of Spain, for alleged fraud involving TCA Fund Management Group Corp., of Florida; TCA Global Credit Fund GP Ltd., TCA Global Credit Fund LP, TCA Global Credit Fund Ltd., and TCA Global Credit Master Fund LP, all of the Cayman Islands.

Steven Rosen: $35K Fine

September 24, 2020
Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $35,000 on Steven Rosen, a resident of Kew Gardens, New York, for alleged fraud involving TCA Fund Management Group Corp., of Florida; TCA Global Credit Fund GP Ltd., TCA Global Credit Fund LP, TCA Global Credit Fund Ltd., and TCA Global Credit Master Fund LP, all of the Cayman Islands.

OTC Europe LLP: $120K Fine

September 23, 2020
Order vt the Commodity Futures Trading Commission imposing a fine of $120,000 on OTC Europe LLP, of England, for regulatory breaches.

Northern Trust Global Fund Services Cayman Ltd. et al: $167K Penalties

September 18, 2020
Administrative Order imposing financial penalties totaling $167,629 on Northern Trust Hedge Fund Services LLC and Northern Trust Global Fund Services Cayman Limited, of the Cayman Islands, "as the fund administrators for the LR Global Frontier Master Fund, Ltd. and two feeder funds, the LR Global Frontier Fund, Ltd. (offshore) and the LR Global Frontier Fund LP (onshore)", for regulatory breaches regarding an alleged fraud by Donald S. LaGuardia, Jr.

Unikrn, Inc.: $6.1M Penalty

September 15, 2020
Administrative Order imposing a $6.1 million penalty on Unikrn, Inc., described as Delaware-domiciled, Washington State-based "operator of an online eSports gaming and gambling platform", regarding an unregistered securities offering of a digital token known as UnikoinGold that, inter alia, involved Bermuda-domiciled Unikrn Bermuda Ltd., before the U. S. Securities and Exchange Commission. Editor's Note: Registers of Directors & Officers and Members for Unikrn Bermuda Ltd. that were obtained by OffshoreAlert from the company's registered agent in 2018 showed that, as of August 16, 2018, the sole shareholder of the company was Unikrn Inc. and that its directors were David Antivilo, of Las Vegas, Nevada, who was also Chief Compliance Officer; Kingsley Edwards, of Las Vegas, Nevada; Christopher G. Garrod, and Jacqueline King, both of Bermuda. On the Government of Bermuda's website, the current directors of the company are identified as Karl Flores, of Australia; Rahul Sood, of Washington State, USA; Christopher Garrod, and Jacqueline King. On Unirkn's website at www.unikrn.com, it is stated that the group was "Established in 2014 as a collaboration between Rahul Sood and Karl Flores".

John Geraci: Industry Ban

September 14, 2020
Administrative Order imposing an industry ban on John Geraci, described as a Florida resident who was "the founder and Chief Executive Officer of Meridian Asset Management, a Cayman Islands-based asset manager during the time of the alleged misconduct, from approximately the summer of 2015 to the fall of 2016", before the U. S. Securities and Exchange Commission.

Forex Birds Ltd. et al: Emergency Cease and Desist Order

September 3, 2020
Emergency Cease and Desist Order for alleged fraud and the sale of unregistered securities involving "cryptocurrency trading investment programs" in Texas State Securities Board v. Forex Birds Ltd., Kumar Babu Gondesi, a citizen of India; Eric Balusek, a.k.a. Darwin Eric Balusek, a.k.a. Bitcoin Pope, all of England and Saint Vincent and the Grenadines, and Pek Universe, of Australia.

Anton Senderov et al: Industry Bans

September 2, 2020
Administrative Order imposing industry bans on Anton Senderov and Lior Barbazara, both citizens of Israel, regarding their involvement in "internet binary options brokers LBinary and Ivory Option", before the U. S. Securities and Exchange Commission.

Herbalife Nutrition Ltd.: $67.3M Penalties

August 28, 2020
Administrative Order imposing penalties totaling $67.3 million on Herbalife Nutrition Ltd., described as "a direct selling company incorporated in the Cayman Islands with headquarters in the United States" whose shares are listed on the New York Stock Exchange, for violations of the Foreign Corrupt Practices Act involving Herbalife China, before the U. S. Securities and Exchange Commission.

OANDA Corporation: $500K Fine

August 21, 2020
Administrative Order imposing a fine of $500,000 on OANDA Corporation, of Toronto, Canada, before the Commodity Futures Trading Commission.

The Bank of Nova Scotia: $60M Penalties

August 19, 2020
Spoofing Order imposing financial penalties totaling $60.4 million on The Bank of Nova Scotia, before the Commodity Futures Trading Commission.

The Bank of Nova Scotia: $17M Fine

August 19, 2020
False Statements Order imposing a fine of $17 million on The Bank of Nova Scotia, before the Commodity Futures Trading Commission.

Teva Pharmaceutical Industries Ltd. et al: Statement of Charges

August 17, 2020
Statement of Charges and Notice of Hearing regarding the "false and misleading marketing" of opiod products in the matter of Teva Pharmaceutical Industries Ltd., of Israel; Teva Pharmaceuticals USA Inc., of Pennsylvania; Cephalon Inc., of Delaware; Watson Laboratories Inc., of Nevada; Actavis Pharma Inc., of Delaware; Actavis LLC, of Delaware; Actavis Elizabeth LLC, of Delaware; Allergan Plc, of Ireland, and Allergan Finance LLC, of Nevada, before the New York State Department of Financial Services.

Interactive Brokers LLC: $12.2M Penalties

August 10, 2020
Administrative Order imposing penalties totaling $12.2 million on Interactive Brokers LLC, of Greenwich, Connecticut, for regulatory breaches involving client accounts that were used for fraud, before the Commodity Futures Trading Commission.

Interactive Brokers LLC: $11.5M Penalties

August 10, 2020
Administrative Order imposing penalties of $11.5 million on Interactive Brokers LLC, described as "a registered broker0dealer headquartered in Greenwich, Connecticut", before the U. S. Securities and Exchange Commission.

World Acceptance Corporation: $21.7M Penalty

August 6, 2020
Administrative Order imposing penalties totaling $21.7 million against World Acceptance Corporation, of South Carolina, for "violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act" regarding a "bribery scheme" involving "WAC's former wholly-owned subsidiary in Mexico, WAC de Mexico, S.A. de CV".

Mind Capital et al: Cease and Desist Order

July 16, 2020
Emergency Cease and Desist Order by the Texas State Securities Board against Mind Capital, a.k.a. Mind Capital OÜ, a.k.a. Mind Capital Tech SL; Gonzalo Garcia Pelayo, Oscar Garcia Pelayo, Rubén Arcas, Manuel Arniz, Cristina Kelly Lopez, Alejandro Mejía, all of Spain and Estonia, and Craig Knitzel, of Texas, regarding a suspected investment fraud involving a "crypto-fiat arbitrage trading program".

Benjamin Alderson: Industry Ban

July 9, 2020
Administrative Order imposing an industry ban on Benjamin Alderson, a resident of the United Kingdom and a former CEO of deVere USA Inc., before the U. S. Securities and Exchange Commission.

Deutsche Bank AG et al: $150M Fine

July 6, 2020
Consent Order regarding "the Bank's relationship with Jeffrey Epstein" in New York Department of Financial Services v. Deutsche Bank AG, of Germany; Deutsche Bank AG, New York Branch, and Deutsche Bank Trust Company of the Americas.

HLB Mann Judd et al: Revocation, Bans & Fines

June 29, 2020
Order by the Public Company Accounting Oversight Board fining and revoking the registration of HLB Mann Judd and barring and fining Darryl Swindells and Aidan Smith, all of Australia, for violating "rules and auditing standards"

Novartis AG: $112M Penalties

June 25, 2020
Administrative Order imposing penalties against Novartis AG, described as a Switzerland-based "global provider of pharmaceutical and healthcare products", for "improper activities", including "improper payments", "forged contracts", and "false books and records", involving its subsidiaries and affiliates in Greece, Singapore, South Korea, and Vietnam, before the U. S. Securities and Exchange Commission.

Gain Capital UK Ltd.: $250K Fine

June 8, 2020
Order Instituting Proceedings and Imposing Penalties on Gain Capital UK Limited, of the United Kingdom, before the Commodity Futures Trading Commission.

Patrick Mazza et al: Cease and Desist Order

June 8, 2020
Ex Parte Cease and Order by the State of Vermont Department of Financial Regulation against Patrick Mazza, of Toronto, Canada, and Evolution Mentor Capital Inc., of Ontario, Canada, "to protect the financial health and welfare of Vermont residents" regarding a "cryptocurrency mining scheme" that the regulator described as "fraudulent" and "not registered" as a security.

Argo Group International Holdings, Ltd.: $900K Fine

June 4, 2020
Administrative Order imposing a $900,000 fine on Argo Group International Holdings, Ltd., a Bermuda-domiciled provider of insurance and reinsurance whose shares are listed on the New York Stock Exchange, for failing to disclose "over $5.3 million" in perquisites to Mark E. Watson III, its former CEO, president, and director, before the U. S. Securities and Exchange Commission.

Bainbridge Asia Ltd. et al: Permanent Bars

June 1, 2020
Decision by the National Futures Association permanently barring Bainbridge Asia Limited, of Hong Kong, and Wai Man Yip, a.k.a. Patrick Yip, before the National Futures Association.

BitClave PTE Ltd.: $29M Penalties

May 28, 2020
Administrative Order imposing disgorgement, interest, and a civil penalty totaling $29.3 million against BitClave PTE Ltd., described as "an early-stage blockchain services company that operates through an entity in Singapore and maintains its principal place of operations in San Jose, California", for conducting an unregistered Initial Coin Offering, before the U. S. Securities and Exchange Commission.