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Michael Faust
USI Tech Limited (also known as United Software Intelligence, or stylised as USI-TECH) was a Dubai-based cryptocurrency and forex platform trading provider, suspected to be a high-yield investment program and a Ponzi scheme. Prior to going offline with its users' funds, USI-Tech moved its website from a .com top-level domain, to a .io domain, while also appearing on a number of mirror domains. Joseph Rotunda, Director of the Enforcement Division at the Texas State Securities Board, estimates that the scammers were able to extract hundreds of millions of dollars from all over the world. Promoters Based on reports from Engadget, USI was initially promoted by Lee Oakey, Kerry Stockton, Rodney Burton, and Michael Faust. Oakey and Stockton are British, and currently live in Australia. Burton (49, in 2018), also known as "Bitcoin Rodney", was known for purchasing a $350,000 Lamborghini Huracan from Lamborghini Newport Beach in Costa Mesa, California, using Bitcoin. Burton was release ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Arab Emirates
The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia (The Middle East). It is located at the eastern end of the Arabian Peninsula and shares borders with Oman and Saudi Arabia, while having maritime borders in the Persian Gulf with Qatar and Iran. Abu Dhabi is the nation's capital, while Dubai, the most populous city, is an international hub. The United Arab Emirates is an elective monarchy formed from a federation of seven emirates, consisting of Abu Dhabi (the capital), Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. Each emirate is governed by an emir and together the emirs form the Federal Supreme Council. The members of the Federal Supreme Council elect a president and vice president from among their members. In practice, the emir of Abu Dhabi serves as president while the ruler of Dubai is vice pre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Drug Dealing
The illegal drug trade or drug trafficking is a global black market dedicated to the cultivation, manufacture, distribution and sale of prohibited drugs. Most jurisdictions prohibit trade, except under license, of many types of drugs through the use of drug prohibition laws. The think tank Global Financial Integrity's ''Transnational Crime and the Developing World'' report estimates the size of the global illicit drug market between US$426 and US$652billion in 2014 alone. With a world GDP of US$78 trillion in the same year, the illegal drug trade may be estimated as nearly 1% of total global trade. Consumption of illegal drugs is widespread globally and it remains very difficult for local authorities to thwart its popularity. History The government of the Qing Dynasty issued edicts against opium smoking in 1730, 1796 and 1800. The West prohibited addictive drugs throughout the late 19th and early 20th centuries. Beginning in the 18th century, British merchants from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PlusToken
PlusToken was a ponzi scheme that operated worldwide but mainly had investors in China and South Korea. History PlusToken started in April 2018. It offered monthly payments to users of its cryptocurrency wallet. There was also a token called ''Plus'' associated with it. The total amount of cryptocurrency taken by PlusToken was estimated to be worth (based on 2019 prices) between $2 and US$2.9 billion. The selling of cryptocurrencies from PlusToken was speculated to have been the cause of price drops in bitcoin. In June 2019, six Chinese nationals associated with the scheme were arrested in Vanuatu and deported so they could face trial in China. In July 2020, China's Ministry of Public Security announced that 27 "major criminal suspects" and 82 "key" members of PlusToken have been arrested. In November 2020, a court in Jiangsu sentenced ringleaders behind the scheme to between two and eleven years in prison. See also * Bitconnect * OneCoin * USI Tech USI Tech Limited (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OneCoin
OneCoin is a fraudulent cryptocurrency scheme conducted by offshore companies OneCoin Ltd, based in Bulgaria and registered in Dubai, and OneLife Network Ltd (registered in Belize), both founded by Ruja Ignatova in concert with Sebastian Greenwood. OneCoin is considered a Ponzi scheme due to its organisational structure of paying early investors using money obtained from newer ones. It was also a pyramid scheme due to the recruiting of investors without providing any actual product. The company secretly conducted database entry scam simulating transactions not registered by an actual blockchain, and with no mining behind the apparent cryptocurrency release and circulation. Many of those characters central to OneCoin had been previously involved in similar and different other schemes and business malpractices separate from each other. OneCoin was described by ''The Times'' as "one of the biggest scams in history". US prosecutors have alleged the scheme brought in approximately $ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitconnect
Bitconnect (also spelled BitConnect and KimConnect; stylized ''bitconnect'', ticker code BCC) was an open-source cryptocurrency in 2016–2018 that was connected with a high-yield investment program, a type of Ponzi scheme. After the platform administrators closed the earning platform on January 16, 2018, and refunded the users' investments in BCC following a 92% coin value crash, confidence was lost and the value of the coin plummeted to below $1 from a previous high of nearly $525. History Bitconnect was released in 2016 with the goal of allowing users to lend the value of Bitconnect Coin in return for interest payments. The marquee program was the so-called lending platform where users traded Bitcoin for Bitconnect Coin and could lock in the instantaneous value of the coin for a set period of time while earning interest calculated daily. The interest payouts were determined by a so-called "trading bot". The trading bot was the most controversial piece of the Bitconnect.co sys ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Markets Authority (New Zealand)
The Financial Markets Authority (FMA) is the New Zealand government agency responsible for financial regulation. It is responsible for regulating all financial market participants, exchanges and the setting and enforcing of financial regulations. History The authority was established on 1 May 2011 as part of the ''Financial Markets (Regulators and KiwiSaver) Bill'' which was passed by the New Zealand parliament on the 7 April 2011. It was established in a wake of criticism over the failure of the previous regulatory regime to halt the failure of a large number of finance companies and to stem investor losses in the period between 2006 and 2010. It was introduced by Commerce Minister Simon Power, with him saying "This move is at the centre of the Government's drive to restore the confidence of mum and dad investors in our financial markets." Structure The FMA is controlled by a board appointed by the Minister of Commerce and run by chief executive Samantha Barrass. The board co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Comisión Nacional Del Mercado De Valores
The National Securities Market Commission () (often abbreviated as CNMV) is the Spanish government agency responsible for the financial regulation of the securities markets in Spain. It is an independent agency that falls under the Ministry of Economy. History The CNMV was established in 1988 as part of a major reform of Spanish financial sector with the passing of law 24/1988 also known as the "Stock Market" act. Laws 37/1998 and 44/2002 have updated the powers and responsibilities of the agency establishing a regulatory framework to meet the requirements of the European Union. It also allowed for the development of the Spanish stock market in the European environment, incorporating new measures for the investor protection. On 23 May 2008, the then second vice-president and finance minister, Pedro Solbes, announced in the Economic and Financial Committee of Congress that the government was planning a realignment of responsibilities for the regulation of the financial system a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Saskatchewan
The Government of Saskatchewan (french: Gouvernement de la Saskatchewan) refers to the provincial government of the province of Saskatchewan. Its powers and structure are set out in the Constitution Act, 1867. In modern Canadian use, the term "government" referred broadly to the cabinet of the day (formally the Executive Council of Saskatchewan), elected from the Legislative Assembly of Saskatchewan and the non-political staff within each provincial department or agency – that is, the civil service. The Province of Saskatchewan is governed by a unicameral legislature, the Legislative Assembly of Saskatchewan, which operates in the Westminster system of government. The political party that wins the largest number of seats in the legislature normally forms the government, and the party's leader becomes premier of the province, i.e., the head of the government. Lieutenant-Governor of Saskatchewan The functions of the Sovereign, Charles III, King of Canada, known in Saskatchew ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guam
Guam (; ch, Guåhan ) is an organized, unincorporated territory of the United States in the Micronesia subregion of the western Pacific Ocean. It is the westernmost point and territory of the United States (reckoned from the geographic center of the U.S.); its capital Hagåtña (144°45'00"E) lies further west than Melbourne, Australia (144°57'47"E). In Oceania, Guam is the largest and southernmost of the Mariana Islands and the largest island in Micronesia. Guam's capital is Hagåtña, and the most populous village is Dededo. People born on Guam are American citizens but have no vote in the United States presidential elections while residing on Guam and Guam delegates to the United States House of Representatives have no vote on the floor. Indigenous Guamanians are the Chamoru, historically known as the Chamorro, who are related to the Austronesian peoples of Indonesia, the Philippines, Malaysia, Taiwan, Micronesia, and Polynesia. As of 2022, Guam's population is 168, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of New Brunswick
The Government of New Brunswick (french: Gouvernement du Nouveau-Brunswick) refers to the provincial government of the province of New Brunswick. Its powers and structure are set out in the Constitution Act, 1867. The Provinces and territories of Canada, Province of New Brunswick is now governed by a unicameral legislature, the Legislative Assembly of New Brunswick, which operates in the Westminster system of government minus the bicamerality. The political party that, either by itself or in combination with another party supporting them, wins the largest number of seats in the legislature normally forms the government with the party's leader becoming Premier of New Brunswick, premier of the province, i.e., the Head of government, head of the government. Lieutenant-Governor of New Brunswick The functions of the Sovereign, Charles III, King Charles III, Monarchy in Canada, King of Canada, are known in New Brunswick as the Monarchy in New Brunswick, King in Right of New Brunswick ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cease And Desist
A cease and desist letter is a document sent to an individual or business to stop alleged illegal activity. The phrase "cease and desist" is a legal doublet, made up of two near-synonyms. The letter may warn that, if the recipient does not discontinue specified conduct, or take certain actions, by deadlines set in the letter, that party, i.e. the letter's recipient, may be sued. When issued by a public authority, a cease and desist letter, being "a warning of impending judicial enforcement", is most appropriately called a "cease and desist order". Usage for intellectual property Although cease and desist letters are not exclusively used in the area of intellectual property, particularly in regards to copyright infringement, such letters "are frequently utilized in disputes concerning intellectual property and represent an important feature of the intellectual property law landscape". The holder of an intellectual property right such as a copyrighted work, a trademark, or a pat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Columbia Securities Commission
The British Columbia Securities Commission (BCSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of British Columbia. See also * Canadian securities regulation * Securities Commission * Canadian Securities Administrators * Ontario Securities Commission * Autorité des marchés financiers (Québec) Autorité des marchés financiers may refer to: *Autorité des marchés financiers (France) Autorité des marchés financiers may refer to: * Autorité des marchés financiers (France) *Autorité des marchés financiers (Québec) Autorité des march ... References External linksOfficial site British Columbia law [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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