March 17, 2021/US SEC The Securities and Exchange Commission today announced charges against an additional four individuals for unlawfully selling securities of 1 Global Capital, LLC, a South Florida merchant cash advance company, to retail investors. The SEC previously charged 1 Global, its owner, and others with operating a fraudulent […]
Frauds & Scandals
Integrity in Development Projects: AfDB Issues Letter of Reprimand to Mitsubishi Heavy Industries for Sanctionable Practice
The African Development Bank considers there is sufficient evidence to support a finding that it is more likely than not that MHI engaged in sanctionable practices March 15, 2021/AfDB The African Development Bank Group (“AfDB”) (www.AfDB.org), on 2 February 2021, issued a sanction decision against Mitsubishi Heavy Industries, Ltd. (“MHI”). […]
SEC Charges Recidivist Securities Fraudster with Defrauding Investors
March 12, 2021/US SEC On March 12, 2021, the Securities and Exchange Commission charged Shamoon Omer Rafiq, a Dutch citizen residing in Singapore, with defrauding investors by offering to sell them approximately $9 million in fictitious securities. According to the SEC’s complaint, since July 2020, Rafiq sought to bilk several […]
