The traders, along with unnamed co-conspirators, are alleged to have conspired to fix prices and rig bids for the euro–U.S. dollar currency pair
The fraudulent activity included overstating the company’s assets and revenue and violating securities laws, among other misdeeds
Illegal profits were traded through Canadian brokerages, the charges say
The alleged fraud allowed the firm to artificially reduce its operating costs, improving its extraction efficiency metrics and profitability
The assets will be liquidated and distributed to victims either through the Madoff Victim Fund or through the BLMIS Customer Fund
The FCNB will be operating kiosks at several events this summer in an effort to raise investor awareness about fraudulent schemes
The decision brings regulatory proceedings that began against the former theatre impresario and a couple of his associates in 2001 to a close
The receiver is accepting claims from investors until Aug. 4, BCSC says
The firm as hired RBC Capital Markets and BMO Capital Markets to advise on further financing and strategic options
The company has faced accelerated withdrawals by depositors since the announcement of various senior management changes, and allegations of disclosure violations from the OSC