Shipkevich Bitcoin and ICO Attorney

Forex

Felix Shipkevich November 10, 2011

The CFTC has obtained a default judgement against Jeffrey Alan Lowrance and his New Zealand-based company First Capital Savings and Loan for operating a fraudulent over-the-counter foreign exchange (“forex”) scheme. They are required to jointly and severally pay $3.3 million as a civil monetary penalty and $1.2 million in restitution. Lowrance was charged in July […]

Felix Shipkevich November 7, 2011

The CFTC has obtained a supplemental consent order requiring Sidney Hanson, Charlotte Hanson, and their companies Queen Shoals, Queen Shoals II, and Select Fund to pay $24 million in restitution and civil monetary penalties for running a foreign exchange (“forex”) Ponzi scheme. Additionally, the supplemental order requires the following six relief defendants to disgorge more […]

Felix Shipkevich October 31, 2011

The NFA has finalized several proposed amendments to rules governing forex dealer members (“FDM”). These amendments were first proposed September in rule submission letters to the CFTC. One set of changes will come into effect next month, while the second will not be in place until January. The first set of amendments concerns electronic trading […]

Felix Shipkevich October 31, 2011

The CFTC has obtained a federal court order requiring Rodney Whitney, Nicholas T. Cox, and Integra Capital Management to pay over $6.9 million in restitution, disgorgement, and civil monetary penalties. The unregistered Commodity Pool Operator (“CPO”) and its two APs were found by a U.S. District Judge to have defrauded investors through a commodity pool […]

Felix Shipkevich October 28, 2011

The Massachusetts secretary of state has officially filed a lawsuit against Bank of New York Mellon (“BNY Mellon”), alleging that the custody bank defrauded a state pension fund by charging unfavorable foreign exchange (“forex”) rates. Massachusetts joins New York, California, Virginia, and a number of other states and large investors suing BNY Mellon, State Street, […]

Felix Shipkevich October 26, 2011

The CFTC has filed a complaint against Linda and Chance Harris, and their companies CDH Forex Investments and CDH Global Holdings. The Texas-based defendants  are accused of engaging in foreign exchange (“forex”) solicitation fraud and misappropriation of investor funds. According to the complaint, from August 2008 to July 2010, the defendants solicited and accepted funds […]

Felix Shipkevich October 24, 2011

Two European central bankers have expressed anxiety at the lack of orderly-default plans in the regulatory regime proposed under MiFID II. The Bank of England’s Paul Tucker and the European Central Bank’s Peter Praet were both on message at conference on the future of clearing regulation in Brussels. They both worry that European Commission regulators […]

Felix Shipkevich October 14, 2011

The CFTC has won a default judgement against Barki, LLC, a North Carolina firm charged in connection with a foreign exchange (“forex”) Ponzi scheme last month. Barki and its agent, the late Bruce Kramer, were charged with fraudulent solicitation and misappropriation of $38 million. Restitution and civil monetary penalties of about $40 million have been […]

Felix Shipkevich October 12, 2011

The CFTC has obtained an order requiring Ray White and CRW Management, as well as relief defendants Christopher White and Hurricane Motorsports, to pay millions in disgorgement and civil monetary penalties in connection with an off-exchange foreign exchange (“forex”) Ponzi scheme. According to the CFTC, from November 2006 to November 2008 White and CRW Management […]

Felix Shipkevich October 6, 2011

BNY Mellon, the beleaguered custody bank, has just become the defendant in another lawsuit over its alleged mishandling of foreign exchange (“forex”) trades for large pension funds. The Manhattan U.S. and New York attorney generals’ offices have each filed suits against the financial giant. First came California. Then came Massachusetts, Ohio, Virginia, Florida, to name […]