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NQ Mobile A ‘Massive Fraud’ Worth $0, Muddy Waters Says As $500M Is Wiped Out In Minutes NQ Mobile A ‘Massive Fraud’ Worth $0, Muddy Waters Says As $500M Is Wiped Out In Minutes

The following is an excerpt from Agustino Fontevecchia | October 24, 2013 | Forbes.com | It’s never good for a publicly traded company to be in the cross-hairs of a short-seller, much less for a Chinese mobile company. Shares in NQ Mobile NQ -47.38% fell more than 50% as research firm Muddy Waters called the company a “massive “fraud” and slapped a price target below $1 on the stock, erasing more than $500 million in market capitalization in only a few ... Read More

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10 Things the SEC Won’t Tell You 10 Things the SEC Won’t Tell You

The following is an excerpt from QUENTIN FOTTRELL | November 29, 2012 | Smartmoney.com | 1. "We will never live up to your expectations." Mary Schapiro announced this week that she's leaving her post as chairman of the Securities and Exchange Commission after four of the most turbulent years in the agency's history. Elisse Walter, Schapiro's successor, will likely face challenges of her own. After all, last year's "Occupy Wall Street" protestors weren't livid with just the financial industry. They were also ... Read More

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New SEC Head Faces Fights on Several Fronts, Legal Straitjacket New SEC Head Faces Fights on Several Fronts, Legal Straitjacket

The following is an excerpt from Aaron Pressman and Ross Kerber | November 27, 2012 | Reuters.com | (Reuters) - Mary Schapiro's successor as head of the U.S. Securities and Exchange Commission is going to have to hit the ground running. With an ongoing battle over regulating the $2.5 trillion money market fund industry, some 63 unfinished rule makings required by the 2010 Dodd-Frank Wall Street reform law and continuing fears about market stability and high frequency trading, the new top securities ... Read More

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SEC Questioned Groupon Over Weak Financial Controls SEC Questioned Groupon Over Weak Financial Controls

The following is an excerpt from Douglas MacMillan | November 3, 2012 | Bloomberg.com | The U.S. Securities and Exchange Commission asked Groupon Inc. (GRPN) to explain its accounting for coupon refunds and other aspects of its business after the daily deal site revised 2011 results and disclosed a “material weakness” in its financial controls. In letters dated Aug. 2 and Sept. 25, the regulator asked Groupon to disclose more information about refunds, newer types of coupons for travel and music concerts ... Read More

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New Danger From Sandy: Scams New Danger From Sandy: Scams

The following is an excerpt from KELLI B. GRANT | November3, 2012 | Smartmoney.com | As many Americans recover from the superstorm Sandy, which left more than 8 million without power and has caused an estimated $50 billion in damages so far, they now face another threat, say consumer advocates: storm-related scams. While crises bring out plenty of people looking to help, they also bring out people looking to take advantage of victims. "It's something we see after every storm, in some ... Read More

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Super PACs Bring New Era of ‘Daddy Warbucks’ Super PACs Bring New Era of ‘Daddy Warbucks’

The following is an article from Eric Pianin | February 2, 2012 | TheFiscalTimes.com | In 2010, two landmark Supreme Court rulings turned election law on its head by allowing corporations, business leaders and labor unions to make unlimited contributions to political action committees that are legally separate from the candidates they support. Practically overnight, the courts helped to spawn a new generation of political “Daddy Warbucks,” who now are able to influence the course of an election by writing a ... Read More

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Ponzi Scheme or Not, Social Security Can’t Keep Up the Pace Ponzi Scheme or Not, Social Security Can’t Keep Up the Pace

The following is an excerpt from Chuck Saletta | January 13, 2012 | DailyFinance.com | Social Security's trust fund is in the process of collapsing because it will have insufficient funds available to pay promised benefits. Sound like a Ponzi scheme? That's what many prominent political and investing figures have called it. Whether the system meets a broad definition of Ponzi scheme, at least this "scheme" is one in which you can come out ahead. You've got a few things going for you: Charles ... Read More

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Deutsche Börse AG Suspends New Listings on the Open Deutsche Börse AG Suspends New Listings on the Open

By Brenda Lee Hamilton, Attorney Hamilton & Associates On December 20, 2011, Deutsche Börse AG suspended new listings for the First Quotation Board due to fraud and new cases of suspected market manipulation among several shares listed in the First Quotation Board. Deutsche Börse AG stated, “Prosecution according to criminal law and supervisory legislation only seems to have a limited deterrent effect. Against this background and for the purpose of protecting the capital market and particularly the investors, Deutsche Börse AG has ... Read More

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Scams, Schemes & Shakedowns – Robert Hendy-Freegard Scams, Schemes & Shakedowns – Robert Hendy-Freegard

Robert Hendy-Freegard (1971 - ) is a British bartender, car salesman, conman and impostor who masqueraded as an MI5 agent and fooled several people into going underground for fear of IRA assassination. Hendy-Freegard met his victims in social situations or as customers in the pub or car dealership where he was working. He would convince his victims that he was an undercover agent for MI5, Special Branch or Scotland Yard working against the IRA. He demanded that they cut off contact ... Read More

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SEC, U.S. Attorney and FBI Announce 13 Charged in Connection with Securities Kickback Schemes SEC, U.S. Attorney and FBI Announce 13 Charged in Connection with Securities Kickback Schemes

Washington, D.C., Dec. 1, 2011 — The Securities and Exchange Commission, U.S. Attorney for the District of Massachusetts, and Federal Bureau of Investigation today announced parallel cases filed in federal court against several corporate officers, lawyers and a stock promoter alleging they used kickbacks and other schemes to trigger investments in various thinly-traded stocks. The criminal case charged 13 defendants who engaged in criminal activity in the midst of an undercover FBI operation. According to the charges filed in U.S. District ... Read More

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