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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 rele ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Arab Emirates
The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab Emirates, seven emirates, with Abu Dhabi serving as its capital. It shares land borders with Oman to the east and northeast, and with Saudi Arabia to the southwest; as well as maritime borders in the Persian Gulf with Qatar and Iran, and with Oman in the Gulf of Oman. , the UAE has an estimated population of over 10 million, of which 11% are Emiratis; Dubai is List of cities in the United Arab Emirates, its most populous city and is an international hub. Islam is the State religion, official religion and Arabic is the official language, while English is the most spoken language and the language of business. The United Arab Emirates Oil reserves in the United Arab Emirates, oil and natural gas reserves are the world's List of countries by pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Drug Dealing
The illegal drug trade, drug trafficking, or narcotrafficking 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, which is equal to the UK's national debt 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 reduce the rates of drug consumption. History Prior to the 20th century, governments rarely made a major effort to proscribe recreational drug use, though several smoking bans were passed by authorities in Eur ... [...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 Fraud, fraudulent cryptocurrency scheme conducted by Offshore company, 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 maintained its own database of coins rather than using a blockchain and had no mining process which limited its ability to release and circulate coins. Many of the people central to OneCoin had been previously involved in similar schemes and business malpractice. OneCoin was described by ''The Times'' as "one of the biggest scams in history". US prosecutors alleged the scheme brought in approximately $4 billion worldwide. In China, law enforcement recovered 1.7 b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bitconnect
Bitconnect (stylized ''bitconnect'' and also spelled BitConnect, Ticker symbol, 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 to allow 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 system. The liquid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Markets Authority (New Zealand)
The Financial Markets Authority (FMA, Maori:Te Mana Tātai Hokohoko) is a 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 its predecessor, the Securities Commision, being unable 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 chi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of Saskatchewan
The Government of Saskatchewan () is 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" refers broadly to the cabinet of the day (formally the Executive Council), elected from the Legislative Assembly and the non-political staff within each provincial department or agency – that is, the civil service. The province of Saskatchewan has a unicameral legislature, the Saskatchewan Legislature, composed of the Lieutenant Governor and the Legislative Assembly, 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. Role of the Crown The functions of the Sovereign, Charles III, King of Canada, known in Saskatchewan as the King in Right of Saskatchewan, are exerc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guam
Guam ( ; ) is an island that is an Territories of the United States, organized, unincorporated territory of the United States in the Micronesia subregion of the western Pacific Ocean. Guam's capital is Hagåtña, Guam, Hagåtña, and the most populous village is Dededo. It is the List of extreme points of the United States#Westernmost points, westernmost point and territory of the United States, as measured from the geographic center of the United States, geographic center of the U.S. In Oceania, Guam is the largest and southernmost of the Mariana Islands and the largest island in Micronesia. As of 2022, its population was 168,801. Chamorros are its largest ethnic group, but a minority on the multiethnic island. The territory spans and has a population density of . Indigenous Guamanians are the Chamorro people, Chamorro, who are related to the Austronesian peoples, Austronesian peoples of the Malay Archipelago, the Philippines, Taiwanese indigenous peoples, Taiwan, and Polyne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government Of New Brunswick
The Government of New Brunswick () is 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 has a unicameral legislature, the New Brunswick Legislature, consisting of the Lieutenant Governor of New Brunswick, Lieutenant Governor and the Legislative Assembly of New Brunswick, Legislative Assembly, which operates in the framework of a Westminster system, Westminster-style Parliamentary system, parliamentary constitutional monarchy. 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, the head of government. Role of the Crown The functions of the sovereign, Charles III, King Charles III, Monarchy in Canada, King of Canada and Monarchy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cease And Desist
A cease and desist letter is a document sent by one party, often a business, to warn another party that they believe the other party is committing an unlawful act, such as copyright infringement, and that they will take legal action if the other party continues the alleged unlawful activity. The letter may warn that, if the recipient does not discontinue specified conduct, or take certain actions, by deadlines set in the letter, the letter's recipient may be sued. The phrase "cease and desist" is a legal doublet, made up of two near-synonyms. A cease and desist letter issued by a government entity, called a cease and desist order, is "a warning of impending judicial enforcement". 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 o ... [...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) * List of financial regulatory authorities by jurisdiction References External linksOfficial site [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
