United States of America

Bittrex Inc.: $24M Fine (OFAC)

Public Notice by the U.S. Department of the Treasury's Office of Foreign Assets Control that Bittrex Inc., which operates a crypto exchange, has agreed to pay $24.2 million to settle an investigation into "violations of multiple sanctions programs".

Bittrex Inc.: $5M Fine (FinCEN)

Consent Order imposing a penalty of $29 million, of which $5 million will be paid after a $24 million credit to OFAC is taken into account, for violations of the Bank Secrecy Act in Financial Crimes Enforcement Network v. Bittrex Inc., a crypto exchange.

Leroy King: Order Instituting Administrative Proceedings

Order Instituting Administrative Proceedings in U.S. Securities and Exchange Commission v. Leroy King, described as "a dual citizen of both the United States and Antigua and Barbuda" who "served as the Administrator and Chief Executive Officer of the Financial Services Regulatory Commission, an agency of the Antiguan government, from approximately 2002 to 2009" and is currently serving a 10-year prison sentence after pleaded guilty to criminal charges regarding a fraud committed by former banker Allen Stanford

Kim Kardashian: $1.26M Penalties (‘Crypto Promotion-Undisclosed Compensation’)

Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $1.26 million on Kimberly Kardashian, described as "a well-known media personality and businesswoman" for promoting "a crypto asset security" known as EthereumMax (EMAX) without disclosing that she received compensation of "approximately $250,000".

Nexo Inc. et al: Cease and Desist Order (Oklahoma)

Cease and Desist Order by the Oklahoma Department of Securities against Nexo Financial LLC, of Delaware; Nexo Inc., of the Cayman Islands, and Nexo Capital Inc., of the Cayman Islands, which collectively operate a crypto lending platform.

Nexo Inc. et al: Cease and Refrain Oder (California)

Cease and Refrain Order by the California Department of Financial Protection and Innovation against Nexo Group, which "comprises business entities organized primarily in European countries and territories"; Nexo Inc., of the Cayman Islands, and Nexo Capital Inc., of the Cayman Islands, which collectively "a crypto platform that offers crypto interest accounts, self-directed and over-the-counter trade execution, and lending, borrowing, and exchange services".

Nexo Inc. et al: Cease and Desist Order (Vermont)

Ex Parte Order to Cease and Desist by the State of Vermont Department of Financial Regulation in re. Nexo Inc., of the Cayman Islands; Nexo Capital Inc., of the Cayman Islands, and Nexo Financial LLC, a Delaware entity based in London, England, collectively described as "a financial services company that generates revenue by providing, deploying, and investing digital assets and virtual currencies".

Sparkster Ltd. et al: $30M+ Penalties (‘Unregistered Crypto Offering’)

Administrative Order by the U.S. Securities and Exchange Commission imposing fines and disgorgement totaling $30.75 million on Sparkster Ltd. of the Cayman Islands, and Sajjad Daya, a resident of the United Kingdom, for conducting an unregistered securities offering involving crypto.

Gol Linhas Aéreas Inteligentes SA: $70M Penalty

Administrative Order by the U.S. Securities and Exchange Commission that it has imposed disgorgement and interest totaling $70 million on GOL Linhas Aéreas Inteligentes SA, a.k.a. GOL Intelligent Airlines Inc., of São Paulo, described as "the second largest domestic airline in Brazil by market share", for "a scheme to bribe government officials in Brazil in exchange for certain payroll tax and fuel tax reductions that financially benefited Gol, along with other airlines".

Voyager Digital Ltd. et al: Cease and Desist Order

Ex Parte Order to Cease and Desist regarding a cryptocurrency group in Vermont Department of Financial Regulation v. Voyager Digital Ltd., of British Columbia, Canada; Voyager Digital Holdings Inc., of Delaware, and Voyager Digital LLC, of Delaware.

SparkLabs Global Ventures Management LLC et al: $225K Fines

Administrative Order by the U.S. Securities and Exchange Commission imposing fines totaling $225,000 on SparkLabs Global Ventures Management LLC, of Delaware; SparkLabs Management LLC, of Delaware, and Bernard Moon, of California, for "unauthorized and undisclosed inter-fund loan transactions" involving, inter alia, Cayman Islands-domiciled entities based in South Korea and Taiwan.

Hudson Advisors LP et al: $11.2M Fine

Administrative Order by the U.S. Securities and Exchange Commission that it has imposed a fine of $11.2 million on investment advisers Hudson Advisors LP, of Delaware, and Lone Star Global Acquisitions Ltd., of Bermuda, which "failed to fully disclose Hudson's practice for calculating and charging certain fees".

Ridgeview Asset Management Partners LLC: $70K Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $70,000 on Ridgeview Asset Management Partners LLC for regulatory breaches involving entities in Brazil and USA.

Garrison Investment Group LP: $330K Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $330,000 on Delaware-domiciled investment adviser Garrison Investment Group LP for regulatory breaches involving entities in the Cayman Islands and USA.

BiscayneAmericas Advisers LLC: $135K Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $135,000 on BiscayneAmericas Advisers LLC for conduct that involved, inter alia, three Cayman Islands entities.

Perceptive Advisors LLC: $1.5M Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $1.5 million on Perceptive Advisors LLC for regulatory breaches involving entities in the Cayman Islands and United States.

Corona Associates Capital Management LLC et al: $80K Fines

Administrative Order by the U.S. Securities and Exchange Commission imposing fines totaling $80,000 on Corona Associates Capital Management LLC, of California; Julian Scurci, of Palo Alto, California, and Giovanni Sergio Scurci, a.k.a. John Scurci, of Riviera Beach, Florida, for alleged "material misrepresentations" involving Antilles Capital Master Fund LP and Antilles Capital Fund (BVI) Ltd., both of the British Virgin Islands, and Dorado Capital Partners LP, of California.

Starberry Ltd.: $1.4M Disgorgement

Administrative Order by the U.S. Commodity Futures Trading Commission imposing a penalty of $1,376,207 on Starberry Limited, of Cyprus, for operating as a "futures commission merchant" without being registered.

Geluk Capital Management Ltd. et al: $93K Penalties

Administrative Order by the U.S. Securities and Exchange Commission imposing penalties totaling $92,688 on Geluk Capital Management Ltd., of the Bahamas, and Douglas Gerald Fathers, of New Jersey, for alleged "misrepresentations".

Petroteq Energy, Inc. et al: Fines

Administrative Order by the U.S. Securities and exchange Commission imposing fines of $1 million and $450,000, respectively, on Petroteq Energy, Inc., of Canada, and Aleksandr Blyumkin, of California.

Tenaris SA: $25M Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $25 million on Tenaris S.A., described as "a global manufacturer and supplier of steel pipe products and related services, headquartered in Luxembourg", for "violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977 by Tenaris, as a result of a bribe scheme involving agents and employees of its Brazilian subsidiary to obtain and retain business from a Brazil state-owned entity Petróleo Brasileiro S.A.".

Wells Fargo Clearing Services LLC: $7M Fine

Administrative Order by the U.S. Securities and Exchange Commission imposing a fine of $7 million on Wells Fargo Clearing Services LLC for "failure to timely file certain suspicious activity reports between April 2017 and October 2021" involving wire transfers "to or from certain foreign countries determined to be at a high risk or moderate risk for money laundering, terrorist financing or other illegal monetary movements", including "Costa Rica, Turkey, Honduras, the British Virgin Islands, Antigua, Cayman Islands, Ukraine, and Guernsey".

Thomas Plaut: Industry Ban

Administrative Order by the U.S. Securities and Exchange Commission imposing an industry ban on Thomas F. Plaut, described as "the sole owner, Chairman, and CEO of Worldwide Markets Ltd., a British Virgin Islands company with its principal place of business in Woodcliff Lake, New Jersey".

Stericycle, Inc.: $24M Penalty

Administrative Order by the U. S. Securities and Exchange Commission imposing a penalty of $23,987,520 on Stericycle, Inc., described as a Delaware-domiciled "world-wide provider of medical waste and other services" for "violations of the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act of 1977" involving "wholly-owned subsidiaries in Brazil, Mexico, and Argentina".

John Gunn: Suspension

Administrative Order by the U.S. Securities and Exchange Commission imposing a suspension on John William Gunn, described as a citizen of the United Kingdom residing in Hong Kong.

Global Investment Strategy UK Ltd.: US Industry Ban

Administrative Order by the U.S. Securities and Exchange Commission imposing an industry ban on Global Investment Strategy UK Ltd., described as "a financial services firm registered with and regulated by the Financial Conduct Authority of the United Kingdom, and is a member of the London Stock Exchange".

ED&F Man Capital Markets Ltd.: $3.25M Fine

Administrative Order by the Commodity Futures Trading Commission imposing a fine of $3.25 million on ED&F Man Capital Markets Ltd., described as a London-based "swap dealer" whose "swaps business is focused on metals and foreign currencies, for regulatory breaches.

BlockFi Lending LLC: $50M Fine

Administrative Order by the U. S. Securities and Exchange Commission that it has imposed a fine of $50 million on BlockFi Lending LLC, a New Jersey-based crypto lender, for regulatory breaches, including "material misrepresentation" and operating as "an Unregistered Investment Company".

Ran Armon: Industry Ban

Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Ran Armon, described as a citizen and resident of Canada, for an alleged fraud.

Kunal Bansal et al: $100K Fine

Administrative Order by the Commodity Futures Trading Commission imposing a fine of $100,000 on Kunal Bansal, Vinit Agarwal, Aralia Securities Ltd., described as "a "family office" investment entity, based in Hong Kong", and Vintage Bullion DMCC, described as "a commodities-trading company, based in Dubai, UAE".

Nicholas Abbate: $30K Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $30,000 on Nicholas Abbate, a resident of Staten Island, New York, for "his role in assisting others in a course of business that operated as a fraud or deceit upon clients and investors", including a mutual fund in the Cayman Islands that is not identified in the order but which OffshoreAlert believes is the Income Collecting 1-3 Months T-Bills Mutual Fund.

Wedbush Securities Inc.: $1.2M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $1.2 million on Wedbush Securities Inc. for the "unregistered offers and sales of large blocks of low-priced securities by an offshore customer", namely Silverton SA, now known as Wintercap SA, described as "a purported Swiss asset manager", and failure to file suspicious activity reports.

WEX Inc.: $350K Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $350,000 on WEX Inc., described as "a Maine-based reporting company that describes itself as a financial technology service provider" for failing "properly to devise and maintain a sufficient system of internal accounting controls at its Brazilian subsidiary, UNIK S.A.", that led to "errors in WEX Brazil’s financial statements back to fiscal year 2013 totaling approximately $85.5 million, mostly relating to the overstatement of unbilled receivables. This amount included about $8 million in suspected theft or unauthorized transactions by former WEX Brazil employees".

Mashreqbank PSC: $100M Fine

Consent Order in which Mashreqbank PSC, of Dubai, in the United Arab Emirates, agreed to pay a fine of $100 million to the New York State Department of Financial Services for regulatory breaches involving "USD transactions of the Bank relating to Sudan".

VTB Capital Plc: $6.4M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $6.4 million on VTB Capital Plc regarding "material omissions and misleading statements in a 2016 bond offering for which VTB Capital Plc, a London-based investment bank, acted with Credit Suisse Group AG as joint-lead manager".

Credit Suisse Group AG: $99M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $99 million on Credit Suisse Group AG, of Switzerland, regarding "an offering fraud and violations of the internal accounting controls and books and records provisions of the Foreign Corrupt Practices Act ... in connection with three interconnected transactions involving, among others, United Kingdom-based Credit Suisse entities and Mozambican state-owned entities".

Tether Holdings Ltd. et al: $41M Fine

Administrative Order by the Commodity Futures Trading Commission imposing a fine of $41 million on Tether Holdings Limited, Tether Operations Limited, and Tether International Limited, all of the British Virgin Islands, and Tether Limited, of Hong Kong, for alleged fraud with its "virtual currency stablecoin".

Bitfinex: $1.5M Fine

Administrative Order by the Commodity Futures Trading Commission imposing a fine of $1.5 million on iFinex Inc., BFXNA Inc., and BFXWW Inc., all of the British Virgin Islands, a crypto group collectively doing business as Bitfinex, for regulatory breaches.

Robert Press: $5.4M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $50,000 on Donna M. Silverman to settle allegations of fraud involving TCA Fund Management Group Corp., of Florida, and four TCA funds in the Cayman Islands.

Donna Silverman: $50K Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $50,000 on Donna M. Silverman to settle allegations of fraud involving TCA Fund Management Group Corp., of Florida, and TCA Global Credit Fund GP Ltd., of the Cayman Islands.

WPP Plc: $22M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $22.5 million on WPP Plc, described as "the world's largest advertising group" that is domiciled in Jersey, in the Channel Islands; headquartered in London and New York City, and whose shares are listed on the New York Stock Exchange for alleged violations of "the anti-bribery, books and records, and international accounting controls provisions of the Foreign Corrupt Practices Act" involving its subsidiaries in Brazil, China, India, and Peru.

Helikon Investments Ltd.: $778K Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $778,244 on Helikon Investments Ltd., described as a United Kingdom company that is registered with the U.K. Financial Conduct Authority, to settle allegations that it "sold short American depositary shares and then, within the rule's five-day restricted period, purchased ADSs of the same issuer in an offering, thereby violating Rule 105", profiting "by $669,002 from the transaction".

Ronald Haller: Industry Ban

Administrative Order by the U. S. Securities and Exchange Commission imposing an industry ban on Ronald P. Haller, 67, of Ontario, Canada, after. he pleaded guilty to fraud in Canada.

Murchinson Ltd. et al: $9M Settlement

Administrative Order by the U. S. Securities and Exchange Commission stating that Murchinson Ltd., of Toronto, Canada; Marc Bistricer, and Paul Zogala, described as citizens and residents of Canada, have agreed to pay penalties totaling $9 million to settle a regulatory investigation that, inter alia, involved an unidentified Bermuda "hedge fund".

Pearson Plc: $1M Fine

Administrative Order by the U. S. Securities and Exchange Commission imposing a fine of $1 million on Pearson Plc, described as a British publicly-listed "multinational educational publishing and services company", for "material misstatements and omissions regarding a 2018 cyber intrusion that affected several million rows of student data across 13,000 school, district, and university AIMSweb 1.0 customer accounts in the United States".

FinCEN v. BitMEX et al: $100M Fine

Public Notice by FinCEN that it has imposed a fine of $100 million on HDR Global Trading Limited, of the Seychelles; 100x Holdings Limited, ABS Global Trading Limited, of Delaware; Shine Effort Inc. Limited, of Hong Kong, and HDR Global Services (Bermuda) Limited, of Bermuda, d.b.a. BitMEX, described as "a convertible virtual currency derivatives exchange".

Poloniex LLC: $10.3M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $10.3 million on Poloniex, LLC, of Delaware, for operating "a digital asset trading platform" without registering "as a national securities exchange".

DeFi Money Market et al: $13M Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties on Blockchain Credit Partners, d.b.a. DeFi Money Market, of the Cayman Islands; Gregory Keough, and Derek Acree, both of Florida, for an alleged fraud that involved selling "more than $30 million of securities in unregistered offerings by using smart contracts and "decentralized finance" technology to sell digital tokens".

Coinschedule Ltd.: $201K Penalties

Administrative Order by the U. S. Securities and Exchange Commission imposing penalties totaling $201,688 on Blotics Ltd., formerly doing business as Coinschedule Ltd., described as a United Kingdom-domiciled company that "owned and operated a once-popular website platform, www.coinschedule.com, that publicized current and upcoming offerings for different digital tokens and was accessible in the United States from 2016 to August 2019", for promoting a security without disclosing that it received compensation for doing so.