Financial fraud includes activities like embezzlement, insider trading, and accounting fraud, inflicts substantial harm on society. It distorts the transparency and efficiency of financial markets, leading investors and regulators to make decisions based on false information, which can destabilize entire economic systems. The direct victims of financial fraud—ranging from individual investors to large corporations—can face devastating financial losses, potentially wiping out life savings or crippling business operations.
TL;DR EFG Capital International, a Miami-based brokerage, was fined $650,000 for repeatedly failing to monitor for money laundering between May 2018 and August 2022. This is not their first offense. The firm was previously fined $800,000 in 2018 for similar…
Investigation: Puente Servicios Financieros 1,379 Secrets: Puente Financial Caught Hiding Fees From Customers TL;DR The Corporation: Puente Servicios Financieros LLC, a Miami-based securities firm. The Violation: For nearly three years (Aug 2021 – May 2024), the firm failed to disclose…
Supreme Negligence: How Supreme Alliance Ignored The Rules And Put Your Money At Risk TL;DR The Facts: From September 2019 to May 2022, Supreme Alliance LLC operated without adequate systems to protect its clients, leading to an $80,000 fine from…
FINRA Enforcement • AWC No. 2022073302501 How Canaccord Genuity “Outsourced” Its Ethics For nearly nine years, a Wall Street broker-dealer handed its legal duty to watch its own brokers to an affiliate, kept no written records of branch inspections, and…
CIBC’s 1.4 Million Failures: Six Years of Calculated Blindness TL;DR The Facts: For over six years, from April 2019 to September 2025, CIBC World Markets Corp. failed to report or incorrectly reported massive over-the-counter (OTC) options positions to regulators. The…
TL;DR The Corporation: Independent Financial Group, LLC (IFG), a firm with approximately 380 branch offices and 650 registered representatives. The Misconduct: From April to November 2022, IFG allowed one of its representatives to continue working—including entering securities orders… despite that…
TL;DR From 2010 to 2018, EquityBuild, Inc., run by Jerome and Shaun Cohen, operated a massive real estate Ponzi scheme. The scheme defrauded investors in over 1,200 promissory notes, promising 12-20% returns on properties on Chicago’s South Side. EquityBuild inflated…
Class Action Investigation How FanDuel Robbed California in Broad Daylight EvilCorporations.com • Case No. 3:25-cv-10473 • 60 min read TL;DR Since at least 2015, FanDuel has been running paid daily fantasy sports contests in California while telling users the product…
The $150,000 Slap on the Wrist for Interactive Brokers TL;DR The Misconduct: For over four years, from December 2017 to March 2022, brokerage firm Interactive Brokers knowingly provided incomplete and delayed market data to its retail customers—the ones who weren’t…
Your TV Bill is a Hostage Situation TL;DR Nexstar Media Group, the largest local TV broadcaster in the United States, stands accused in federal court of running an illegal price-fixing scheme with its “sidecar” companies, Mission Broadcasting and White Knight…