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Carousel fraud, explained by the Dutch State. Missing trader fraud (also called missing trader intra-community fraud or MTIC fraud) involves the non-payment of Value Added Tax (VAT) to a government by fraudsters who exploit VAT rules, most commonly the European Union VAT rules which provide that the movement of goods between member states is VAT-free.
A British hedge fund trader has been sentenced to 12 years in prison in Denmark, after being found guilty of orchestrating a tax fraud that cost the Danish government more than £1bn. It is the ...
In April 2021, The Wall Street Journal reported that Hwang had lost US$20 billion over 10 days in late March, imposing large losses on his bankers Nomura and Credit Suisse. [5] On April 27, 2022, he was indicted on federal charges of fraud and racketeering. [2] The default of Archegos contributed to the eventual collapse of Credit Suisse. [6]
The 2011 UBS rogue trader scandal caused a loss of over US$2 billion at Swiss bank UBS, as a result of unauthorized trading performed by Kweku Adoboli, a director of the bank's Global Synthetic Equities Trading team in London in early September 2011.
Federal prosecutors and securities regulators in Los Angeles announced charges Friday against prominent short-seller Andrew Left, alleging he made millions of dollars of ill-gotten gains.
Kweku Adoboli (born 21 May 1980) is a Ghanaian investment manager and former stock trader.He was convicted of illegally trading away US$2 billion (£1.3 billion GBP) as a trader for Swiss investment bank UBS.
Americans lost more than $5.6 billion in 2023 from fraud schemes involving cryptocurrency, according to the FBI. The agency, in a report published Monday, said the bureau received more than 69,000 ...
Jérôme Kerviel (French pronunciation: [ʒeʁom kɛʁvjɛl]; born 11 January 1977) is a French rogue trader who was convicted and imprisoned in the 2008 Société Générale trading loss for breach of trust, forgery and unauthorized use of the bank's computers, resulting in losses valued at €4.9 billion.