Tag - Fraud

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Sunday, December 27 2015

The Mystery Of Dubai's Vaporized Gold: The Plot Thickens

the company which was used as a cover for billions in gold transactions over the last several years in the Turkey-Iran gold smuggling trade, was suddenly not only insolvent but had been thoroughly plundered of all its holdings, including a thorough plundering of client accounts.

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Friday, December 25 2015

"And It's Gone... It's All Gone" - The One Gold Scandal That Goes To The Very Top

Let's summarize once again: a gold-smuggling scandal that took place under the nose of the US and the international community for years, one which allowed Iran to skirt international sanctions for years using gold as a barter tool to keep its economy going, and one which involved not only the economic and prime ministers of Turkey (and current president) as well as countless corrupt Turkish politicians and the richest person in Iran, but also the second most powerful person in Dubai, the largest holding company in the Arab Emirates and the largest gold holding company in the Gulf state.

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Monday, November 9 2015

Chinese state firm boss accused of stashing tonne of stolen gold, silver at his home has death sentence overturned

Prosecutors seized 2.7 million yuan in cash, 134 kg of gold, 995.3 kg of silver, 81 grams of platinum, four houses and four vehicles from Song

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Friday, May 1 2015

CME Group bars two gold futures traders for allegedly spoofing

CME Group Inc on Thursday barred two traders from its markets for allegedly colluding to enter orders repeatedly with no intention of trading, a strategy that has been fingered as a key contributor to the 2010 Wall Street flash crash.

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Thursday, February 19 2015

Fake police steal €450k of gold from Paris pensioner

Two thieves posing as police officers gained access to a French pensioner's home tonight and robbed him of 13 gold bars worth €450,000.

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Monday, December 22 2014

$300,000 in gold missing from Ukraine Central Bank after swapped for lead bricks

Cunning fraudsters have conned the Ukraine Central Bank branch in Odessa into buying $300,000 worth of gold which turned out to be lead daubed with gold paint.

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Saturday, December 20 2014

Nearly 10,000 'cash-for-gold' violations found in six cities across N.J., officials say

About 70 “cash-for-gold” businesses in six cities across New Jersey have received a combined total of nearly 10,000 civil citations for allegedly violating consumer protection laws, officials announced today.

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Tuesday, November 4 2014

CFTC goes after another FLA precious metals firm for fraud

The U.S. Commodity Futures Trading Commission has filed a civil enforcement complaint in the U.S. District Court for the Southern District of Florida against International Monetary Metals (IMM) of Hollywood, Florida, and its president Martin Sommers of Cooper City, Florida.

The complaint claimed that, since at least July 16, 2011, to March 2013, IMM “solicited and accepted a total of at least $6 million from about 240 retail customers for precious metals transactions.” However the precious metals (including gold, silver and platinum) were never actually delivered to IMM’s customers, according to the CFTC.

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