Financial Services Authority

EDITOR’S NOTE: Ohio now has issued a warning on Profitable Sunrise, saying 15 other states also have issued warnings. Information from Ohio and other states has been added to the Comments thread below . . . BULLETIN: (UPDATED 2:01 P.M. EDT (U.S.A.) The state of Kentucky has issued an emergency cease-and-desist order to the Profitable […]

The Financial Markets Authority of New Zealand (FMA) has joined regulators in the United States, Canada and the United Kingdom in issuing a warning on the Profitable Sunrise HYIP “program.” New Zealand’s warning also extends to NJF Global Group, which appears to be a Profitable Sunrise recruitment organization operating from the United States. (More below.) […]

UPDATED 4:48 PM EDT (U.S.A.) British Columbia now also has issued a warning against Profitable Sunrise. See Comments thread below . . . First it was North Carolina in the United States. Alabama quickly followed. And the United Kingdom’s Financial Services Authority also issued a warning about the Profitable Sunrise “program.” Canada’s province of Alberta […]

BULLETIN: The Alberta Securities Commission (ASC) has issued a warning on the Profitable Sunrise “program.” The Canadian agency’s move followed on the heels of reports from First Calgary Financial that “several of its Calgary customers have attempted to withdraw significant amounts of funds from their accounts for wire transfers to the Czech Republic,” ASC said. […]

BULLETIN: The Financial Services Authority (FSA) of the United Kingdom has placed the Profitable Sunrise “program” on a warning list of “unauthorised firms and individuals.” Profitable Sunrise also is under scrutiny by American regulators in North Carolina and Alabama. The HYIP “program” purportedly is operated by Roman Novak. Separately, the New Zealand Herald is reporting […]

URGENT >> BULLETIN >> MOVING: UPDATED 8:14 P.M. EDT (U.S.A.) The Commodity Futures Trading Commission has gone to federal courts in four different states and simultaneously filed actions against 11 separate companies in the second phase of an enforcement sweep. The firms, some of which conduct business offshore but allegedly use webhosting companies or other […]

BULLETIN: Two days after Southern Florida’s top federal prosecutor warned that offshore fraudsters who targeted Americans had no safe haven, six people from various parts of the world who allegedly ran or contributed to a pump-and-dump scheme that used the services of a  money-laundering operation in Costa Rica have been charged criminally, authorities said. The […]

Last month, a  court in the United Kingdom ordered Kautilya Nandan Pruthi to pay more than $135 million to the Financial Services Authority (FSA) for his role in an alleged Ponzi scheme that gathered the U.S. equivalent of $173 million. The FSA is the British equivalent of the U.S. Securities and Exchange Commission. Two others […]

A court in the United Kingdom has ordered three individuals accused of operating a colossal Ponzi scheme to pay £115m — roughly the U.S. equivalent of $173 million. The alleged Business Consulting International fraud is believed to be the largest Ponzi swindle in British history. As a criminal investigation proceeds, John Anderson, Kenneth Peacock and […]

Want international, real-life intrigue? It’s in there. Want venues from the United States to the United Kingdom and Switzerland? They’re in there. Want allegations that a mysterious criminal in Britain used two identities and operated a sham investment company? Today’s your lucky day. They’re in there, too. Now, a former investment adviser from Arizona has […]