Former Dallas financial adviser who lost license over ‘grossly excessive’ fees now faces felony charges
A grand jury has indicted Sarah Helen Hancock, who state regulators said put her clients’ money in a business account where it “would all but evaporate.”
File photo.(LM Otero / AP)
A former Dallas financial adviser has been indicted on criminal charges nearly five years after a state agency revoked her license, saying that she took “grossly excessive” amounts of money from her clients’ accounts.
A Dallas County grand jury handed up the indictments last week against Sarah Helen Hancock, 61, on one count each of theft of more than $300,000, misapplication of fiduciary property of more than $300,000 and securities fraud of more than $100,000. Each charge is a first-degree felony.
SA to crack down on bitcoin after alleged Ponzi scheme unravels
South Africa’s finance-industry regulator wants more power to prosecute perpetrators of fraud and oversee dealing in cryptocurrencies after the collapse of a bitcoin trader, alleged to be the country’s largest Ponzi scheme.
The Financial Sector Conduct Authority is making proposals to regulate trading in cryptocurrencies such as ethereum, XRP and litecoin, the watchdog’s head of enforcement, Brandon Topham, said in an interview.
The FSCA has handed details of its probe into the failure of Mirror Trading International to a top police unit after uncovering alleged fraud.
Two leaders of Mirror Trading International, Clynton and Cheri Marks, have denied allegations that the company’s leadership conspired to locate and kidnap its…
Liquidators want more power in probe of South African bitcoin trader
The investigation into a failed South African bitcoin trader is deepening as provisional liquidators appointed to seize control of Mirror Trading International seek to widen the scope of their inquiry.
The temporary overseers are wanting to extend their powers to include the right to call witnesses to an insolvency inquiry, appoint investigators and solicit information from banks, said Herman Bester, one of four interim supervisors appointed to begin work on the matter. These controls are not typically granted by courts to liquidators acting in a provisional capacity.
MTI, which said in November it has more than 260 000 members, was placed under provisional liquidation last month allegedly holding bitcoin worth about R13-billion. A quadrupling in the price of the world’s best-known cryptocurrency over the past year has been accompanied by convictions in California and China in scams tied to digital pla
Liquidators Want More Power to Probe South African Bitcoin Trader
Jan 15 2021, 10:10 PM
January 15 2021, 9:30 AM
January 15 2021, 10:10 PM
(Bloomberg) The investigation into a failed South African Bitcoin trader is deepening as provisional liquidators appointed to seize control of Mirror Trading International seek to widen the scope of their inquiry.
(Bloomberg) The investigation into a failed South African Bitcoin trader is deepening as provisional liquidators appointed to seize control of Mirror Trading International seek to widen the scope of their inquiry.
The temporary overseers are wanting to extend their powers to include the right to call witnesses to an insolvency inquiry, appoint investigators and solicit information from banks, said Herman Bester, one of four interim supervisors appointed to begin work on the matter. These controls are not typically granted by courts to liquidators acting in a provisional capacity.