A criminal complaint has been filed against Barclays in Geneva, Switzerland this week for its role in a $1.4 billion structured investment vehicle (SIV) called Golden Key. The Barclays arranged and structured SIV blew up in spectacular fashion in 2007 and a French asset management firm, Oddo, tried to sue the British bank for fraud […]
Continue22 Dec
SEC Gets Spongetech fraudster to pay $1.3 million
The SEC scored its first victory in their case against the penny stock scam at Spongetech. Last spring Greenwich radio station owner (WGCH) Michael Metter and his pal from Queens, Steven Moskowitz, were arrested at their homes by the FBI for interfering in a SEC investigation and slew of investor fraud claims. The SEC sued […]
Continue12 Dec
Why the SEC thinks Falcone was involved with Market Manipulation
The SEC has a bulls eye on Phil Falcone’s Harbinger Capital. On Friday the famed billionaire hedgie was forced to write investors explaining his publically traded Harbinger Group Inc is subject to a Wells Notice. This means the Securities and Exchange Commission, its regulator, has launched an official investigation into how the firm might have […]
Continue5 Dec
Ribotsky out at NIR Group is Only a Rumor
There is a rumor floating around on investorshub that NIR Group founder Corey Ribotsky has resigned from the company. I looked into this on Friday and did not find any evidence to support it. The corporate filings with New York Secretary of State for NIR Group Asset Management still list Ribotsky as the controlling person […]
Continue1 Dec
Greenwich Powerball Trustees Are Starting a Hedge Fund
It looks like the newly minted mega-millionaire Belpointe Boys are getting adventures with all their new found fame. Rop Copeland at AR Magazine pointed out this week they’ve hired a trader with a fancy euro name, Herve van Caloen, to raise money and start a long short international equity fund. Maybe some of those Powerball […]
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