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Beaufort Securities... “pump and dump” schemes

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Beaufort Securities... “pump and dump” schemes

Post Fri Mar 02, 2018 4:42 pm

As alleged in the indictment, the defendants engaged in an elaborate multi-year scheme to defraud the investing public of millions of dollars through deceit and manipulative stock trading....
In furtherance of the scheme, the Beaufort Defendants opened brokerage accounts for their clients in the names of off-shore shell companies with nominee shareholders and directors, and then conducted manipulative trading of stocks of U.S. publicly traded companies listed on U.S. over-the-counter exchanges. Beaufort Securities facilitated at least ten “pump and dump” schemes involving U.S. publicly traded stocks, generating over $50 million in proceeds for its clients. Notably, Beaufort Securities had affirmed to the Financial Conduct Authority (“FCA”) in the United Kingdom in July 2016 that it had taken remedial measures to correct deficiencies in the firm’s financial crime controls and anti-money laundering processes.

https://www.justice.gov/usao-edny/pr/si ... ernational
TONY THE TIGER
 
Posts: 2497
Joined: Mar 2012

Re: Beaufort Securities... “pump and dump” schemes

Post Fri Mar 02, 2018 6:34 pm

Really hope they go for these bastards, but sadly they are just one-off many at it. The whole market is corrupt and LSE is just as rotten as rest of them. You just have to look at trading before an RNS come out for a company. Yet apparently these traders are always just lucky ....!
FUBAR@Birth
 
Posts: 961
Joined: Mar 2012

Re: Beaufort Securities... “pump and dump” schemes

Post Sun Mar 04, 2018 3:01 pm

FUBAR@Birth wrote:
> Really hope they go for these bastards, but sadly they are just one-off
> many at it. The whole market is corrupt and LSE is just as rotten as rest
> of them. You just have to look at trading before an RNS come out for a
> company. Yet apparently these traders are always just lucky ....!
Yep... bang em up for a long time..
TONY THE TIGER
 
Posts: 2497
Joined: Mar 2012

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