Meritus Trust Company Ltd.: $600K Fine (Bermuda)
Public Notice by the Bermuda Monetary Authority that it has imposed a fine of $600,000 on Meritus Trust Company Limited for regulatory breaches.
CLTS Technologies (Gibraltar) Ltd.: License Revocation (Gibraltar)
Public Notice by the Gibraltar Financial Services Commission that it has revoked the license of CLTS Technologies (Gibraltar) Limited, which had been registered with the regulator as "a Virtual Asset Arrangement Provider", for "contraventions of the Proceeds of Crime Act 2015".
Labuan FSA: Business Restrictions (December 13, 2024)
Public Notice by the Labuan Financial Services Authority regarding business restrictions on 30 Labuan Licensed Entities "for non-compliance to minimum capital and/or other regulatory requirements".
CIMA: Termination of Struck or Dissolved Entities (December 2024)
Public Notice by the Cayman Islands Monetary Authority of the 'Termination of Struck or Dissolved Entities', effective December 13th, 2024.
SEC v. Chibuzo Onyeachonam et al: Complaint (‘$2.9M Fraud’)
Complaint alleging the defendants "impersonated real-life United States securities broker and investment adviser representatives online and by telephone and fraudulently obtained at least $2.9 million from mostly U.S.-based investors" in U.S. Securities and Exchange Commission v. Chibuzo Augustine Onyeachonam, Stanley Chidubem Asiegbu, and Chukwuebuka Martin Nweke-Eze, all described as citizens and residents of Nigeria, at the U.S. District Court for the District of New Jersey.
SEC v. Frederick Dencer et al: Complaint (‘$17M Fraud’)
Complaint alleging "the Standard Holdings Defendants defrauded
at least 40 investors out of millions of dollars, which Defendants Tayt Dencer and his son, Luke Dencer, misappropriated to fund their lavish lifestyle" in U.S. Securities and Exchange Commission v. Frederick Tayton Dencer , Luke Abelard Dencer, Standard Holdings Inc., Standard Huaxia Ltd., of Hong Kong, and Dennis Edward Butler at the U.S. District Court for the Central District of California.
SEC v. Xtreme Fighting Championships Inc. et al: Complaint (‘$5M Securities Fraud’)
Complaint alleging "a fraudulent scheme to illegally sell large amounts of Xtreme Fighting stock to the investing public" involving entities in the Cayman Islands, Saints Kitts and Nevis, and USA in U.S. Securities and Exchange Commission v. Steve A. Smith Jr. and Xtreme Fighting Championships Inc. at the U.S. District Court for the Southern District of Florida.
China CITIC Bank International Ltd.: HK$4M Fine (Hong Kong)
Public Notice by the Hong Kong Monetary Authority that it has imposed a fine of HK$4 million on China CITIC Bank International Limited for regulatory breaches.
IQ EQ (Isle of Man) Ltd.: £614K Fine (Isle of Man)
Public Statement by the Isle of Man Financial Services Authority that it has imposed a fine of £614,009 on IQ EQ (Isle of Man) Limited for regulatory breaches.
Video: Regulating English Football: Football Governance Bill, Financial Fair Play & Anti-Corruption Measures
This session will look at proposed and existing laws and rules to keep English football clean and competitive, including Financial Fair Play rules and the Football Governance Bill, which would appoint an 'Independent Football Regulator' to regulate English men's elite football, including the Premier League, which is the world's third-highest grossing sports league by revenue.
Novalpina Capital Partners I GP Sàrl v. Oregon Department of Justice: Plaintiff’s Reply in Support of Petition to Set Aside Civil Investigation Demand
Plaintiff's Reply in Support of its Petition to Set Aside Civil Investigation Demand in Novalpina Capital Partners I GP Sàrl, described as "the former general partner of a private equity fund registered in the Grand Duchy of Luxembourg in which the Oregon Public Employees Retirement Fund made an investment" v. Oregon Department of Justice at the Circuit Court of the State of Oregon, for the County of Multnomah, USA.
piggy Switzerland AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that piggy Switzerland AG “is suspected of conducting unauthorised activities in the financial market”.
Weighbridge Trust Ltd. v. Guernsey Financial Services Commission: Judgment (‘Regulator’s Public Statement’)
Judgment setting aside a regulator's "decision to issue a public statement relating to Weighbridge Trust Limited" in Weighbridge Trust Limited v. Guernsey Financial Services Commission at the Royal Court of Guernsey.
Nicholas Hofgren v. Guernsey Financial Services Commission Chairman: Judgment (‘Dismissing Appeal Against Regulatory Sanctions’)
Judgment dismissing an appeal against regulatory sanctions in Nicholas Walton Hofgren, who appears to be a dual citizen of the United Kingdom and USA v. The Chairman of the Guernsey Financial Services Commission at the Royal Court of Guernsey.
Leo Prime Services Ltd. et al: License Revocations (Seychelles)
Public Notice by the Seychelles Financial Services Authority that it has revoked the 'Securities Dealer Licence' of Leo Prime Services Limited and Securities Dealer Representative Licence' of Thoufique Ur Rehman Moideen Farooque.
SEC v. Cyril Cabanes: Complaint (‘$250M Bribery’)
Complaint alleging violations of the Foreign Corrupt Practices Act in U.S. Securities and Exchange Commission v. Cyril Sebastien Dominique Cabanes, described as a citizen of France residing in Singapore, at the U.S. District Court for the Eastern District of New York.
SEC v. Gautam Adani et al: Complaint (‘$175M Securities Fraud’)
Complaint in U.S. Securities and Exchange Commission v. Gautam Adani and Sagar Adani at the U.S. District Court for the Eastern District of New York.
MAPA Finanz GmbH: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that MAPA Finanz GmbH “is suspected of conducting unauthorised activities in the financial market”.
SEC v. Arbitrade Ltd. et al: Max Barber’s Statement of Material Facts (‘$37M Fraud’)
State of Material Facts in Support of Defendant Max Barber's Motion for Summary Judgment in U.S. Securities and Exchange Commission v. Max W. Barber at the U.S. District Court for the Southern District of Florida.
Novalpina Capital Partners I GP Sàrl v. Oregon Department of Justice: Opposition to Petition to Set Aside Civil Investigation Demand & Cross-Petition
Oregon Department of Justice's Opposition to Petition to Set Aside Civil Investigation Demand and Cross-Petition in Novalpina Capital Partners I GP Sàrl, of Luxembourg v. Oregon Department of Justice at the Circuit Court of the State of Oregon, for the County of Multnomah, USA.
Joel Benedict et al: Removal of ‘Fit and Proper Status’ (Seychelles)
Public Notice by the Seychelles Financial Services Authority that it has removed the "fit and proper status" of Joel Prakash Benedict and Christoforos Christoforou.
Blue Nile Services Ltd.: Reasons for License Revocation (Bermuda)
Public Notice by the Bermuda Monetary Authority providing reasons for the revocation of the Money Service Business license of Blue Nile Services Ltd.
Labuan FSA: Business Restrictions (October 30, 2024)
Public Notice by the Labuan Financial Services Authority regarding business restrictions on 31 Labuan Licensed Entities "for non-compliance to minimum capital and/or other regulatory requirements".
NAT Securities Inc.: Notice of Intention to Revoke License (Vanuatu)
Vanuatu Financial Services Commission's Notice of Intention to revoke the Financial Dealers License of NAT Securities Inc.
OneTRADEx Ltd.: Official Liquidation (Cayman Islands)
Public Notice by the Cayman Islands Monetary Authority that OneTRADEx Ltd. "was placed into official liquidation" after being in provisional liquidation since October 15th, 2019.
Stephen Dewsnip: Disqualification (Guernsey)
Public Announcement by the Guernsey Financial Services Commission that it "decided to prohibit Mr Stephen Paul Dewsnip from performing any function on behalf of a regulated entity".
Alpmann AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Alpmann AG “is suspected of conducting unauthorised activities in the financial market”.
Labuan FSA: Business Restrictions (October 18, 2024)
Public Notice by the Labuan Financial Services Authority regarding business restrictions on 26 Labuan Licensed Entities "for non-compliance to minimum capital and/or other regulatory requirements".
Blue Nile Services Ltd.: License Revocation (Bermuda)
Public Notice by the Bermuda Monetary Authority that it has revoked the Money Service Business license of Blue Nile Services Ltd.
Zedra Trust Company (Guernsey) Ltd. et al: £105K Fines & Disqualification (Guernsey)
Public Statement by the Guernsey Financial Services Commission that it has imposed fines of £90,000 and £15,000 on Zedra Trust Company (Guernsey) Limited and Colin Andrew Borman, respectively, and, additionally, a two-year disqualification on the latter for regulatory breaches.
SEC v. Norman Meier et al: Complaint (‘$7.9M Securities Fraud’)
Complaint alleging the defendant "defrauded over 180
investors, mostly European, out of at least $7.9 million" in U.S. Securities and Exchange Commission v. Norman V. Meier, described as a citizen of Switzerland residing in Massachusetts, USA, as Defendant, and Treuhand Inc., Norman Meier International Inc., a.k.a. NMI Inc; Windeco Corporation, Texxon Oil Corp., and International Financial Services Inc., a.k.a. IFS Inc, d.b.a. IRM Inc., as Relief Defendants, at the U.S. District Court for the District of Massachusetts.
Belasko Jersey Ltd.: £19.2K Fine (Jersey)
Public Statement by the Jersey Financial Services Commission that it has imposed a fine of £19,211 for regulatory breaches.
SEC v. Cumberland DRW LLC: Complaint (‘Unregistered Crypto Securities Dealer’)
Complaint in U.S. Securities and Exchange Commission v. Cumberland DRW LLC at the U.S. District Court for the Northern District of Illinois.
Novalpina Capital Partners I GP Sàrl v. Oregon Department of Justice: Petition to Set Aside Civil Investigation Demand
Petition to Set Aside Civil Investigation Demand in Novalpina Capital Partners I GP Sàrl, described as "the former general partner of a private equity fund registered in the Grand Duchy of Luxembourg in which the Oregon Public Employees Retirement Fund made an investment" v. Oregon Department of Justice at the Circuit Court of the State of Oregon, for the County of Multnomah, USA.
SEC v. Vy Pham: Complaint (‘Crypto Investment Fraud’)
Complaint that "arises from Defendant Vy Pham’s unregistered offers and sales of two crypto assets as securities, and from her schemes to manipulate the market for those securities " in U.S. Securities and Exchange Commission v. Vy Pham at the U.S. District Court for the District of Massachusetts.
SEC v. Russell Armand et al: Complaint (‘Crypto Investment Fraud’)
Complaint that "arises from the defendants’ unregistered and fraudulent offers and sales of crypto assets being offered and sold as securities to the investing public and their manipulative trading of those securities" in U.S. Securities and Exchange Commission v. Russell Armand, Maxwell Hernandez, Manpreet Singh Kohli, described as a resident of England and India, and Nam Tran at the U.S. District Court for the District of Massachusetts.
SEC v. ZM Quant Investment Ltd. et al: Complaint (‘Crypto Investment Fraud’)
Complaint in U.S. Securities and Exchange Commission v. ZM Quant Investment Ltd., of the British Virgin Islands; Baijun Ou, a.k.a. Eric Ou, and Ruiqi Lau, a.k.a. Ricky Liu, at the U.S. District Court for the District of Massachusetts.
SEC v. CLS Global FZC LLC et al: Complaint (‘Crypto Investment Fraud’)
Complaint in U.S. Securities and Exchange Commission v. CLS Global FZC LLC, of the United Arab Emirates, and Andrey Zhorzhes, described as a resident of Abu Dhabi, United Arab Emirates, at the U.S. District Court for the District of Massachusetts.
SEC v. Gotbit Consulting LLC et al: Complaint (‘Crypto Investment Fraud’)
Complaint in U.S. Securities and Exchange Commission v. Gotbit Consulting LLC, a.k.a. Gotbit Hedge Fund, described as a Belize company that "purports to have offices in Armenia, Portugal, Turkey, Vietnam, the United Arab Emirates, and the United Kingdom", and Fedor Kedrov, of Russia, at the U.S. District Court for the District of Massachusetts.
777 Re Ltd.: License Cancellation (Bermuda)
Public Notice by the Bermuda Monetary Authority that it has cancelled the insurance registration of 777 Re Ltd. for regulatory breaches.
Crypto.com v. SEC: Complaint (‘Network Tokens’)
Complaint for Declaratory and Injunctive Relief in Floris Dax Inc., d.b.a. Crypto.com v. U. S. Securities and Exchange Commission, Gary Gensler, Caroline Crenshaw, Jaime Lizárraga, Hester Peirce, and Mark Uyeda at the U.S. District Court for the Eastern District of Texas.
Xen Capital Asia Pte Ltd.: License Revocation (Dubai)
Final Notice by the Dubai Financial Services Authority that it has revoked the 'Financial Services' license of the "DIFC Representative Office" of Xen Capital Asia Pte Ltd., of Singapore.
Coinbase Inc. et al v. CFTC: Motion to Compel Compliance With Rule 45 Subpoena (Crypto Regulation)
Motion to Compel Compliance with Rule 45 Subpoena in Coinbase Inc. and Coinbase Global Inc., self-described as the operators of "the nation's largest and only publicly traded digital asset platform" v. Commodity Futures Trading Commission at the U.S. District Court for the District of Columbia.
CFTC v. Traders Domain FX Ltd. et al: Complaint (‘Investment Fraud’)
Complaint in Commodity Futures Trading Commission v. Traders Domain FX Ltd., d.b.a. The Traders Domain, described as a Saint Vincent and the Grenadines company based in Canada; Fredirick Teddy Joseph Safranko, a.k.a. Ted Safranko, of Canada; David William Negus-Romvari, of Canada; Ares Global Ltd., d.b.a. Trubluefx, of Saint Lucia; Algo Capital LLC, Algo FX Capital Advisor LLC, now known as Quant5 Advisor LLC; Robert Collazo Jr., Juan Herman, a.k.a. JJ Herman; John Fortini, Steven Likos, Michael Shannon Sims, Holton Buggs Jr., Centurion Capital Group Inc., Alejandro Santiestaban, a.k.a. Alex Santi; Gabriel Beltran, and Archie Rice at the U.S. District Court for the Southern District of Florida.
Vistra (BVI) Ltd.: $219K Fine (British Virgin Islands)
Enforcement Action by the British Virgin Islands Financial Services Commission imposing a fine of $219,000 on Vistra (BVI) Limited for contraventions of the Anti-Money Laundering Regulations and Anti-Money Laundering Terrorist Financing Code of Practice, 2008.
Vistra Trust (BVI) Ltd.: $57.5K Fine (British Virgin Islands)
Enforcement Action by the British Virgin Islands Financial Services Commission imposing a fine of $57,500 on Vistra Trust (BVI) Limited for contraventions of the Anti-Money Laundering Terrorist Financing Code of Practice, 2008.
SEC v. Rivetz International SEZC et al: Order Granting SEC’s Motion for Summary Judgment (‘Unregistered Crypto Securities’)
Memorandum and Order on Cross Motions for Summary Judgment in U. S. Securities and Exchange Commission v. Rivetz Corp., of Delaware; Rivetz International SEZC, of the Cayman Islands, and Steven K. Sprague, described as a resident of the Cayman Islands and Massachusetts, at the U. S. District Court for the District of Massachusetts.
SEC v. Olayinka Oyebola et al: Complaint (‘Fraudulent Audits’)
Complaint accusing the defendants of "enabling and concealing a massive, multi-year fraudulent scheme in wholesale abdication of their professional obligations as independent public accountants and financial industry gatekeepers" in U.S. Securities and Exchange Commission v. Olayinka Temitope Oyebola, an accountant residing in Nigeria, and Olayinka Oyebola & Co. (Chartered Accountants), described as a Nigerian accounting firm "with branch offices in Houston, Texas, and Ontario, Canada", at the U.S. District Court for the Southern District of New York.
CFTC v. Aipu Ltd. et al: Complaint (‘$3.6M Investment Fraud’)
Complaint alleging a "fraudulent investment scheme" that defrauded "at least $3,630,848.90 from not less than 32 customers" in Commodity Futures Trading Commission v. Aipu Limited, of England; Fidefx Investments Limited, of England; Chao Li, of China; Qian Bai, of China, and Lan Bai, of Oklahoma, USA, at the U.S. District Court for the Western District of Washington.
SEC v. Robert Westbrook: Complaint (‘$3.75M Hack-to-Trade Fraud’)
Complaint alleging "a fraudulent scheme by Westbrook to hack into the computer systems of U.S. public companies to deceptively obtain material nonpublic information about their corporate earnings and to use that information to profit by trading in advance of the companies’ public earnings announcements" in U.S. Securities and Exchange Commission v. Robert B. Westbrook, "whose last known address" is in Chelsea, England, at the U.S. District Court for the District of New Jersey.
