Mr. Copper loses $2.6 billion after manipulating commodity prices for a decade

Mr. Copper loses $2.6 billion after manipulating commodity prices for a decade

‘Mr. Copper,’ as he came to be known, was Japanese commodity trader Yasuo Hamanaka. He worked for the Japanese trading company Sumitomo, and whilst at the helm of Sumitomo’s metal-trading division, Hamanaka was able to control 5% of the world’s copper supply. 5% may not seem a large amount, but copper is fairly unique in…

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Online scammers welcome the UK’s new open banking rules

Online scammers welcome the UK’s new open banking rules

  Online scammers have welcomed the UK’s new open banking rules and have stated categorically that it’s about time the process of online fraud was brought up to date.   The changes taking place mean that banks will have to share financial data such as transaction history and spending patterns with third-party providers if the…

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Bernard Madhoff steals billions running the largest ponzi scheme in history

Bernard Madhoff steals billions running the largest ponzi scheme in history

Bernard Madhoff ran the largest fraudulent pyramid scheme in history. The former Chairman of NASDAQ and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, admitted that the wealth management arm of his business was an elaborate Ponzi scheme when he was apprehended by federal authorities on 11th December 2008. He was…

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HBOS fraudsters hoping to avoid drug-fuelled sex parties in jail

HBOS fraudsters hoping to avoid drug-fuelled sex parties in jail

  Convicts in the HBOS fraud trial are hoping to avoid any drug-fuelled sex parties when they arrive in prison.   Despite drugs being more readily available in jail than they are at the average pharmacist, the senior bankers involved in the trial are ironically, hoping to stay out of trouble for the full term…

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