CIMA: Termination of Struck or Dissolved Entities (April 2024)
Public Notice by the Cayman Islands Monetary Authority regarding 'Termination of Struck or Dissolved Entities', effective April 18th, 2024.
Atlas Administration AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Atlas Administration AG (in Liquidation) “is suspected of conducting unauthorised activities in the financial market”.
SEC v. Mark Borden: Complaint (‘Unregistered Broker for Securities Fraudster’)
Complaint alleging the defendant "acted as an unregistered broker" for Charlie Abujudeh, who is a convicted securities fraudster, and others in U.S. Securities and Exchange Commission v. Mark Borden, described as "an attorney licensed to practice law in Canada and a resident of Thornhill, Ontario, Canada", at the U.S. District Court for the Eastern District of New York.
SEC v. SION Trading FZE: Notice of Joint Liability (‘$37M Crypto Fraud’)
SEC's Notice of Joint Liability Against Relief Defendant SION Trading FZE, of the United Arab Emirates, regarding an alleged crypto-based investment fraud scheme in U.S. Securities and Exchange Commission v. Arbitrade Ltd., of Bermuda; Cryptobontix Inc., of Canada; Troy R.J. Hogg, of Canada; James L. Goldberg, Stephen L. Braverman, and Max W. Barber, as Defendants, and SION Trading FZE, as Relief Defendant, at the U.S. District Court for the Southern District of Florida.
CFTC v. KuCoin et al: Complaint (‘Unregistered Crypto Exchange’)
Complaint in U.S. Commodity Futures Trading Commission v. Mek Global Limited, of the Seychelles; PhoenixFin PTE. Ltd., of Singapore; Flashdot Limited, of the Cayman Islands, and Peken Global Limited, of the Seychelles, "collectively doing business as a centralized digital asset exchange under the name 'KuCoin'", at the U.S. District Court for the Southern District of New York.
Banque Audi (Suisse) SA: CHF 3.9M ‘Illegal Profits’ Disgorgement & CHF 19M Capital Surcharge
Press Release by the Swiss Financial Market Supervisory Authority that Banque Audi (Suisse) SA has "breached its obligations in the prevention of money laundering" and FINMA has "ordered the disgorgement of profits totalling CHF 3.9 million and a capital surcharge of CHF 19 million".
Migom Bank Ltd.: Notice of Administration (Dominica)
Notice by the Dominica Financial Services Unit that it has appointed an administrator for Migom Bank Ltd., which was described as "an Offshore Bank Licensed in Dominica".
Hill Robinson Ltd.: Public Statement (Isle of Man)
Public Statement by the Isle of Man Financial Services Authority regarding Hill Robinson Limited's "non-compliance with Section 20(3) of the Beneficial Ownership Act 2017".
SEC v. Michael Caridi: Letters Rogatory (Fabio Gesufatto et al, Canada)
SEC's unopposed motion for the issuance of letters rogatory to Fabio Gesufatto, Blu Stella Consulting Group Inc., Ommid Faghani, Kevin Rod, Scott Reeves, Elie Boustani, and Francois Latreille, who were described as citizens of Canada residing in Quebec, Canada, for a complaint alleging securities fraud in U.S. Securities and Exchange Commission v. Michael Caridi at the U.S. District Court for the District of Connecticut.
DexTech AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that DexTech AG “is suspected of conducting unauthorised activities in the financial market”.
Global Currency Travel and Tours GmbH: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Global Currency Travel and Tours GmbH “is suspected of conducting unauthorised activities in the financial market”.
Securities Commission of the Bahamas v. Mdollaz Technology Ltd.: Winding Up Petition (‘Insolvent & Unregulated’)
Winding Up Petition in Securities Commission of the Bahamas v. Mdollaz Technology Ltd. at the Supreme Court of the Bahamas.
Ginette Blondel: £210K Fine & Disqualification (Guernsey)
Public Notice by the Guernsey Financial Services Commission that it has imposed a fine of £210,000 and corporate disqualification on Ginette Louise Blondel for regulatory breaches.
Fides Corporate Services Ltd. et al: £266K Fines & Disqualifications (Guernsey)
Public Notice by the Guernsey Financial Services Commission that it has imposed fines totaling £266,000 and/or corporate disqualifications against Fides Corporate Services Limited, David Charles Housley Whitworth, Paul Conway, and Stuart Turner for regulatory breaches.
Sora Bank AG: Liquidation Payout & Compensation (Liechtenstein)
Press Release by the Liechtenstein Financial Market Authority that "the Liechtenstein Court of Justice opened bankruptcy proceedings in respect of the assets of Sora Bank AG in Liquidation and appointed Deloitte (Liechtenstein) AG as the bank liquidator".
Migom Bank Ltd.: ‘Cease Business & Director Removal’ Directive (Dominica)
Directive by the Dominica Financial Services Unit that Migom Bank Ltd. "shall cease to engage in any type of financial business" and that "Swiss national" Thomas Adrian Schätti has been removed as a director.
Pixton AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Pixton AG “is suspected of conducting unauthorised activities in the financial market”.
Dzintars Derkacs: Registration Cancellation (Cayman Islands)
Public Notice by the Cayman Islands Monetary Authority that it has cancelled the registration of Dzintars Derkacs for regulatory breaches.
Valor Capital: Registration Cancellation (Cayman Islands)
Public Notice by the Cayman Islands Monetary Authority that it has cancelled the registration of Valor Capital for regulatory breaches.
Topworth Investments Ltd.: Liquidation Notice (Labuan)
Notice by the Labuan Financial Services Authority that "Topworth Investments Ltd, a Labuan money broker" has been petitioned into liquidation by a creditor.
ECUREX GmbH: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that ECUREX GmbH, which appears to have operated as a crypto exchange, “is suspected of conducting unauthorised activities in the financial market”.
The Royal Bank of Scotland International Ltd.: £1M Fine (Isle of Man)
Public Statement by the Isle of Man Financial Services Authority that it has imposed a fine of £1,008,337 on The Royal Bank of Scotland International Limited for regulatory breaches.
Swiss Financial Insurance GmbH: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Swiss Financial Insurance GmbH “is “suspected of conducting unauthorised activities in the financial market”.
Iskander Karam: £10K Fine & Disqualification (Guernsey)
Public Notice by the Guernsey Financial Services Commission that it has issued a £10,000 fine and two-year prohibition against Iskander Karam, a.k.a. Alexander Karam, a.k.a. Alexander Kaymen, who appears to be a citizen and resident of the United Kingdom, after finding that he "deliberately or recklessly made a number of false and/or misleading statements in his Personal Questionnaire submitted in connection with an application for a licence and for the authorisation of a collective investment scheme".
Cloopen Group Holding Ltd.: Cease and Desist Order (‘Accounting Fraud’)
Cease and Desist Order in U.S. Securities and Exchange Commission v. Cloopen Group Holding Limited, described as a Cayman Islands-domiciled, China-based "provider of cloud-based communications products and services to enterprises of various sizes located primarily in China", in an administrative proceeding before the Securities and Exchange Commission.
OKCoin Europe Ltd.: €304K Settlement (Malta)
Public Notice by the Malta Financial Services Authority that OKCoin Europe Ltd. has agreed to pay an "administrative penalty" of €304,000 to settle an investigation in which the regulator "found failings in respect of Article 41 of the Virtual Financial Assets Act".
Illiar SA: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Illiar SA “is “suspected of conducting unauthorised activities in the financial market”.
SEC v. Sam Lee et al: Complaint (‘$1.7B HyperFund Crypto Fraud’)
Complaint alleging "a global, crypto asset-related, multi-level marketing pyramid and Ponzi scheme that raised over $1.7 billion from victims worldwide, including millions from U.S. investors" in U.S. Securities and Exchange Commission v. Xue Samuel Lee, a.k.a. Sam Lee, described as a citizen of Australia residing in Dubai, United Arab Emirates, and Brenda Indah Chunga, a.k.a. Bitcoin Beautee, at the U.S. District Court for the District of Maryland.
Wilton (IOM) Ltd.: License Revocation (Isle of Man)
Public Statement by the Isle of Man Financial Services Authority that it has revoked the license of Wilton (IOM) Limited for regulatory breaches.
Screems AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Screems AG, now known as XYZAP AG, “is “suspected of conducting unauthorised activities in the financial market”.
SEC v. Michael Caridi: Amended Complaint (‘Fraud’)
Amended Complaint alleging "a fraudulent scheme by Caridi, the former chairman and chief executive of Tree of Knowledge International, Inc." in U.S. Securities and Exchange Commission v. Michael Caridi at the U.S. District Court for the District of Connecticut.
Neural Technologies AG: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Neural Technologies AG "is "suspected of conducting unauthorised activities in the financial market".
Guernsey FSC v. Ian Domaille et al: Appeal Judgment (‘Regulatory Sanctions’)
Judgment allowing an appeal by the Guernsey Financial Services Commission in Guernsey Financial Services Commission v. Ian Charles Domaille, Ian Geoffrey Clarke, and Margaret Helen Hannis at the Court of Appeal of Guernsey.
Greek regulator revokes license of forex/crypto broker Ardu Prime & forces liquidation
Greek financial broker Ardu Prime Investment Services S.A., which specialized in forex and crypto, has had its license revoked and been forced into "special liquidation" by the Hellenic Capital Market Commission.
CFTC v. Debiex et al: Complaint (‘Pig Butchering Fraud’)
Complaint alleging fraud in Commodity Futures Trading Commission v. Debiex, as Defendant, and Zhāng Chéng Yáng, described as "a Chinese ntional", as Relief Defendant, at the U.S. District Court for the District of Arizona.
CFTC v. Yueyu Bao: Complaint (‘Illegal Trading’)
Complaint in Commodity Futures Trading Commission v. Yueyu Bao, of Shanghai, China, at the U.S. District Court for the Central District of California.
Ardu Prime Investment Services SA: License Revocation & Liquidation
Press Release by the Hellenic Republic Capital Market Commission announcing penalties against several companies and individuals, including the license revocation and "special liquidation" of Ardu Prime Investment Services S.A.
HTI Financial Solutions Ltd. v. Manhattan SMI KG Properties Finance Ltd. et al: Complaint (‘$344M Breach of Contract’)
Complaint in HTI Financial Solutions Limited, described as a "Hong Kong based investment manager" v. Manhattan SMI KG Properties Finance Limited, described as a British Virgin Islands-domiciled company based in New York, USA; SMI USA Group LLC, formerly known as Shanghai Municipal Investment Group USA LLC; SMI 520 Fifth Ave LLC, 520 Fifth Owner LLC, and KG Fifth Ave Investment LLC, all of Delaware, USA, at the U.S. District Court for the Southern District of New York.
SEC v. Shanchun Huang: Complaint (‘Securities Fraud’)
Complaint alleging "the Chief Executive Officer (“CEO”) of Future FinTech Group Inc. (“Future FinTech”), a Nasdaq-listed corporation, manipulated the stock price of Future FinTech by buying hundreds of thousands of Future FinTech shares to artificially increase the company’s stock price shortly before and after he became CEO in March 2020" in U.S. Securities and Exchange Commission v. Shanchun Huang, described as a resident of London, England, at the U.S. District Court for the Southern District of New York.
UW Global Inc.: Notification (Labuan)
Public Notice by the Labuan Financial Services Authority regarding regulatory action against UW Global Inc., which is "restricted from undertaking any new business" and required "to take immediate action to honour and pay all overdue payments to its existing clients".
Heather Kent: Disqualification (Isle of Man)
Public Statement from the Isle of Man Financial Services Authority "concerning the prohibition of Heather Ann Kent".
QuickBit Ltd.: License Revocation (Gibraltar)
Public Statement by the Gibraltar Financial Services Commission that it has cancelled the registration of QuickBit Limited, which had been licensed as "a Virtual Asset Arrangement Provider", for regulatory breaches.
Anthony Cooke: Disqualification (Isle of Man)
Public Statement by the Isle of Man Financial Services Authority regarding the prohibition of Anthony Thomas Cooke.
SEC v. Terraform Labs Pte. Ltd. et al: Opinion and Order (‘$40B Crypto Fraud & Unregistered Securities’)
Opinion and Order granting, inter alia, SEC's motion for summary judgment "involving defendants’ unregistered offers and sales of LUNA and MIR in violation of Sections 5(a) and (5c) of the Securities Act" in U.S. Securities and Exchange Commission v. Terraform Labs Pte Ltd., of Singapore, and Do Hyeong Kwon, described in the complaint as a resident of South Korea and Singapore, at the U.S. District Court for the Southern District of New York.
Starboard Capital SA: Public Warning (Switzerland)
Public Warning by the Swiss Financial Market Supervisory Authority that Starboard Capital SA "is "suspected of conducting unauthorised activities in the financial market".
SEC v. Rishi Kapoor et al: Asset Freeze Motion (‘$93M Fraud’)
SEC's Emergency Ex Parte Motion for Asset Freeze in U.S. Securities and Exchange Commission v. Rishi Kapoor, Location Ventures LLC, Urbin LLC, Patriots United LLC, Location Properties LLC, Location Properties LLC, Location Development LLC, Location Capital LLC, Location Ventures Resources LLC, Location Equity Holdings LLC, Location GP Sponsor LLC, 515 Valencia Sponsor LLC, LV Montana Sponsor LLC, Urbin Founders Group LLC, Urbin CG Sponsor LLC, 515 Valencia Partners LLC, LV Montana Phase I LLC, Stewart Grove 1 LLC, Stewart Grove 2 LLC, Location Zamora Parent LLC, Urbin Coral Gables Partners LLC, Urbin Coconut Grove Partners LLC, Urbin Miami Beach Partners LLC, and Urbin Miami Beach II Phase 1 LLC at the U.S. District Court for the Southern District of Florida.
Mason Privatbank Liechtenstein AG: License Lapse (Liechtenstein)
Public Notice by the Liechtenstein Financial Market Authority that "the banking services of Mason Privatbank Liechtenstein AG in Liquidation have been closed".
Neptune Securities (V) Ltd.: License Revocation (Vanuatu)
Public Notice by the Vanuatu Financial Services Commission that it has revoked the Financial Dealers License of Neptune Securities (V) Limited.
Solar Group Ltd.: License Revocation (Vanuatu)
Public Notice by the Vanuatu Financial Services Commission that it has revoked the Financial Dealers License of Solar Group Limited.
Andrew Hicks: Disqualification (Jersey)
Public Statement by the Jersey Financial Services Commission that it has issued an industry ban against Andrew Mark Hicks for his conduct regarding "Lutea Holdings Limited and Lutea Trustees Limited", described as "a Jersey-regulated trust company business" of which he was "a long-standing principal person".