The US Securities and Exchange Commission has charged an adviser with placing trades through a master brokerage account and allocating profitable trades to himself while passing unprofitable trades on to client.
The UK’s Financial Conduct Authority (FCA) has warned financial advisers, DFMs and pension scheme operators that scammers are becoming increasingly sophisticated in developing products to defeat due diligence efforts.
The Financial Conduct Authority (FCA) has issued a stark warning to firms advising on domestic and international pension transfers after reports that some clients are being scammed or their funds transferred into unsuitable investments.
A former Charles Stanley stockbroker was jailed for six years after pleading guilty to conning investors, including some of his friends, out of £1.2m ($1.5m, €1.4m) in a Ponzi scheme.
Arsenal striker Alexis Sanchez faces a possible jail sentence after admitting to tax fraud in Spain of almost €1m (£880,240, $1.06m).
The UK government is to toughen laws governing fraudulent or dishonest activity by financial services companies to make it easier to successfully prosecute criminal offences such as fraud, money laundering and false accounting.
The chairman of a collapsed biofuel investment scheme has been convicted of fraud and sentenced to eight years in prison by a Cambodian court.
International Adviser revisits some of the biggest investment scams and scandals reported in 2016 as we look forward to the day when greater transparency delivers better client outcomes.
Former BSI Singapore director Yvonne Seah has been sentenced to two weeks in prison and fined S$10,000 (£5,553, $6,943, €6,632) as part of the investigation into 1Malaysia Development Bhd (1MDB).
Jerome Cahuzac, a cosmetic surgeon and former French budget minister tasked with cracking down on tax evasion, has been jailed for three years after he was found guilty of tax fraud and money laundering.
The UK’s Financial Conduct Authority (FCA) is urging people aged over 55 to make sure that all investment ‘opportunities’ are legitimate before they part with their money as new data from the watchdog victims of investment fraud lost £32,000 (€38,180, $40,732) on average every year.
The government’s plans to crack down on pension cold calling have been hailed as a “golden opportunity” to correct the UK’s “disastrous” rules that are as much use as a “chocolate teapot”, says Angela Brooks of Pension Life.
