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WinCapita
WinCapita, previously WinClub and GiiClub, was a Finnish Internet-based Ponzi scheme that advertised itself as a private investment club engaged in currency trading. In reality, it was a bucket shop like many other foreign exchange fraud schemes. It operated mainly in Finland, with a smaller number of members also in Sweden. The operation collected about 100 million euros from more than 10,000 investors, probably the largest fraud in Finnish history. In March 2008, the National Bureau of Investigation started investigations of the club. In December 2011, the District Court of Vantaa found the chief suspect Hannu Kailajärvi guilty of aggravated fraud, and sentenced him to four years in prison. In February 2013, the Court of Appeal of Helsinki found him guilty of aggravated fraud and a money collection offence, and increased his prison sentence to five years. The verdict was upheld by the Supreme Court. Scheme The company presented itself as an invitation-only foreign exchange i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pyramid Scheme
A pyramid scheme is a business model which, rather than earning money (or providing Return on investment, returns on investments) by sale of legitimate product (business), products to an end consumer, mainly earns money by recruiting new members with the promise of payments (or services). As the number of members multiplies, recruiting quickly becomes increasingly difficult until it is impossible, and therefore most of the newer recruits do not make a profit. As such, pyramid schemes are unsustainable. The unsustainable nature of pyramid schemes has led to most countries outlawing them as a form of fraud. Pyramid schemes have existed since at least the mid-to-late 19th century in different guises. Some multi-level marketing plans have been classified as pyramid schemes. Concept and basic models In a pyramid scheme, an organization compels individuals who wish to join to make a payment. In exchange, the organization promises its new members a share of the money taken from every ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Exchange Fraud
Foreign exchange fraud is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Currency trading became a common form of fraud in early 2008, according to Michael Dunn of the U.S. Commodity Futures Trading Commission. The foreign exchange market is at best a zero-sum game, meaning that whatever one trader gains, another loses. However, brokerage commissions and other transaction costs are subtracted from the results of all traders, making foreign exchange a negative-sum game. US government interventions In August 2008, the CFTC set up a special task force to deal with growing foreign exchange fraud. In January 2010, the CFTC proposed new rules limiting leverage to 10 to 1, based on "a number of improper practices" in the retail foreign exchange market, "among them solicitation fraud, a lack of transparency in the pricing and execution of transactions, unresponsiveness to customer complai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nässjö
Nässjö () is a locality and the seat of Nässjö Municipality, Jönköping County, Sweden with 31,782 inhabitants in 2024. History For many years, Nässjö was a rural village with agriculture as the dominant occupation. The turning point was the construction of the Swedish railway system. The southern main line railway, finished in 1864, passed through Nässjö. Later, other railways were inaugurated, whereby Nässjö, due to its geographical location in the country, became an important junction. A line to Katrineholm was opened in 1874, and that year also the opening of the Oskarshamn line; the one to Halmstad in 1882; to Kalmar in 1914. Today, Nässjö is the only Swedish junction where railways in six different directions meet. As a result, industries moved to Nässjö, and the population increased. The most important industries were wood industries due to the forest covered Småland province area, at a time when it had become possible to factory manufacture the w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kailajärvi
Kailajärvi is a Finnish surname that may refer to * Jaakko Kailajärvi (born 1941), Finnish weightlifter * Jouni Kailajärvi (born 1938–2003), Finnish weightlifter, brother of Jaakko *Hannu Kailajärvi, Finnish businessman responsible for the WinCapita WinCapita, previously WinClub and GiiClub, was a Finnish Internet-based Ponzi scheme that advertised itself as a private investment club engaged in currency trading. In reality, it was a bucket shop like many other foreign exchange fraud schemes ... Internet-based Ponzi scheme {{DEFAULTSORT:Kailajarvi Finnish-language surnames ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreign Exchange Companies
A non-bank foreign exchange company also known as foreign exchange broker or simply forex broker is a company that offers currency exchange and international payments to private individuals and companies. The term is typically used for currency exchange companies that offer physical delivery rather than speculative trading. i.e. there is a physical delivery of currency to a bank account. Foreign exchange companies are normally distinct from money transfer companies or remittance companies and bureaux de change as they typically perform high-value transfers unlike their money transfer counterparts that focus on high-volume low-value transfers generally by economic migrants back to their home country or to provide cash for travelers. The transactions offered by foreign exchange companies are usually either spot transactions or forward transactions. Some foreign exchange companies, such as Moneycorp and Global Reach, offer foreign exchange options for business clients too. Given ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pyramid And Ponzi Schemes
A pyramid () is a structure whose visible surfaces are triangular in broad outline and converge toward the top, making the appearance roughly a pyramid in the geometric sense. The base of a pyramid can be of any polygon shape, such as triangular or quadrilateral, and its surface-lines either filled or stepped. A pyramid has the majority of its mass closer to the ground with less mass towards the pyramidion at the apex. This is due to the gradual decrease in the cross-sectional area along the vertical axis with increasing elevation. This offers a weight distribution that allowed early civilizations to create monumental structures.Ancient civilizations in many parts of the world pioneered the building of pyramids. The largest pyramid by volume is the Mesoamerican Great Pyramid of Cholula, in the Mexican state of Puebla. For millennia, the largest structures on Earth were pyramids—first the Red Pyramid in the Dashur Necropolis and then the Great Pyramid of Khufu, both in Eg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supreme Court Of Finland
The Supreme Court of Finland ( , abbreviated as ''KKO''; , abbreviated as ''HD''), located in Helsinki, is the court of last resort for cases within the private law of Finland (that is, civil and criminal cases). The Court's counterpart is the Supreme Administrative Court, which is the court of last resort for cases within the administrative law. The Supreme Court consists of a President and at minimum 15, currently 18, other Justices, usually working in five-judge panels. The most important function of the Supreme Court is to rule on important points of law in cases which are significant for the entire legal order, guiding the administering of justice in future cases. Decisions of the Courts of Appeal (, ), as well as certain decisions of the Insurance Court may be appealed against to the Supreme Court, provided that it grants leave to appeal. In the rare criminal cases where a Court of Appeal acts as the court of first instance, the leave to appeal is not needed. The Suprem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud
In law, fraud is intent (law), intentional deception to deprive a victim of a legal right or to gain from a victim unlawfully or unfairly. Fraud can violate Civil law (common law), civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, such as obtaining a passport, travel document, or driver's licence. In cases of mortgage fraud, the perpetrator may attempt to qualify for a mortgage by way of false statements. Terminology Fraud can be defined as either a civil wrong or a criminal act. For civil fraud, a government agency or person or entity harmed by fraud may bring litigation to stop the fraud, seek monetary damages, or both. For cr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vantaa
Vantaa (; , ) is a city in Finland. It is located to the north of the capital, Helsinki, in southern Uusimaa. The population of Vantaa is approximately . It is the most populous municipality in Finland. Vantaa is part of the Helsinki Metropolitan Area, which has approximately million inhabitants. The administrative centre of Vantaa is located in the Tikkurila district. Vantaa lies in Southern Finland and shares borders with Helsinki, the Finnish capital, to the south, Espoo to the southwest, Nurmijärvi to the northwest, Kerava and Tuusula to the north, and Sipoo to the east. The city covers a total area of , of which is water. Vantaa's significant attractions include Vantaa River (''Vantaanjoki''), which runs through the city before flowing into the Gulf of Finland. The Helsinki Airport, situated in Vantaa, serves as the largest airport in Finland and the primary airline hub for the Helsinki metropolitan area. Companies headquartered in Vantaa comprise Finnair, F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Red Notice
An Interpol notice is an international alert circulated by Interpol to communicate information about crimes, criminals, and threats by police in a member state (or an authorised international entity) to their counterparts around the world. The information disseminated via notices concerns individuals wanted for serious crimes, missing persons, unidentified bodies, possible threats, prison escapes, and criminals' ''modus operandi''. There are eight types of notices, seven of which are colour-coded by their function: red, blue, green, yellow, black, orange, and purple. The best-known notice is the ''red notice'', which is the "closest instrument to an international arrest warrant in use today". An eighth ''special notice'' is issued at the request of the United Nations Security Council. Notices published by Interpol are made either on the organisation's own initiative or are based on requests from national central bureaus (NCBs) of member states or authorised international entities ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trial In Absentia
Trial in absentia is a criminal proceeding in a court of law in which the person being tried is not present. is Latin for "in (the) absence". Its interpretation varies by jurisdiction and legal system. In common law legal systems, the phrase is more than a spatial description. In these systems, it suggests a recognition of a violation of a defendant's right to be present in court proceedings in a criminal trial. Conviction in a trial in which a defendant is not present to answer the charges is held to be a violation of natural justice. Specifically, it violates the second principles of natural justice, principle of natural justice, (hear the other party). In some Civil law (legal system), civil law legal systems, such as that of Italy, is a recognized and accepted defense strategy. Such trials may require the presence of the defendant's lawyer, depending on the country. Europe Member states of the Council of Europe that are party to the European Convention on Human Rights ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thailand
Thailand, officially the Kingdom of Thailand and historically known as Siam (the official name until 1939), is a country in Southeast Asia on the Mainland Southeast Asia, Indochinese Peninsula. With a population of almost 66 million, it spans . Thailand Template:Borders of Thailand, is bordered to the northwest by Myanmar, to the northeast and east by Laos, to the southeast by Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the southwest by the Andaman Sea; it also shares maritime borders with Vietnam to the southeast and Indonesia and India to the southwest. Bangkok is the state capital and List of municipalities in Thailand#Largest cities by urban population, largest city. Tai peoples, Thai peoples migrated from southwestern China to mainland Southeast Asia from the 6th to 11th centuries. Greater India, Indianised kingdoms such as the Mon kingdoms, Mon, Khmer Empire, and Monarchies of Malaysia, Malay states ruled the region, competing with Thai states s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
