Tullett Brown Limited was a land banking and carbon credit fraud that was wound-up by the British Official Receiver in March 2012. After the company was wound-up, the fraud continued through associated company Foxstone Carr Ltd. [1] [2] [3] [4]
Tullett Brown had been named "Commodities Broker of the Year in Western Europe" in World News Media's World Finance Awards. [5]
HSBC Holdings plc, originally The Hongkong and Shanghai Banking Corporation, and known locally as HongkongBank in Hong Kong, Canada and Australia during the early 1980s to late 1990s, is a British universal bank and financial services group headquartered in London, England, with business links to East Asia and a multinational footprint. It is the largest Europe-based bank by total assets, ahead of BNP Paribas, with US$2.953 trillion as of December 2021. In 2021, HSBC had $10.8 trillion in assets under custody (AUC) and $4.9 trillion in assets under administration (AUA).
A binary option is a financial exotic option in which the payoff is either some fixed monetary amount or nothing at all. The two main types of binary options are the cash-or-nothing binary option and the asset-or-nothing binary option. The former pays some fixed amount of cash if the option expires in-the-money while the latter pays the value of the underlying security. They are also called all-or-nothing options, digital options, and fixed return options (FROs).
The United States Postal Inspection Service (USPIS), or the Postal Inspectors, is the federal law enforcement arm of the United States Postal Service. It supports and protects the U.S. Postal Service, its employees, infrastructure, and customers by enforcing the laws that defend the nation's mail system from illegal or dangerous use. Its jurisdiction covers any crimes that may adversely affect or fraudulently use the U.S. Mail, the postal system or postal employees. With roots going back to the late 18th century, the USPIS is the oldest continuously operating federal law enforcement agency.
Carbon offsetting is a trading mechanism that allows entities such as governments, individuals, or businesses to compensate for (i.e. “offset”) their greenhouse gas emissions by supporting projects that reduce, avoid, or remove emissions elsewhere. A carbon credit or offset credit is a transferable financial instrument, that is a derivative of an underlying commodity. It can be bought or sold after certification by a government or independent certification body. When an entity invests in a carbon offsetting program, it receives carbon credits, i.e "tokens" used to account for net climate benefits from one entity to another. One carbon offset or credit represents a reduction, avoidance or removal of one tonne of carbon dioxide or its carbon dioxide-equivalent (CO2e). Offset projects that take place in the future can be considered to be a type of promissory note: The purchaser of the offset credit pays carbon market rates for the credits and in turn receives a promise that the purchaser's greenhouse emissions generated in the present (e.g. a roundtrip flight to London) will be offset by elimination of an equal amount at some point in the future (e.g. 10 to 20 years for planting 110 seedlings). Offsets that were generated in the past are credible only if they were in addition to reductions that would have happened anyway.
Foreign exchange fraud is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Currency trading became a common form of fraud in early 2008, according to Michael Dunn of the U.S. Commodity Futures Trading Commission.
Land banking is the practice of aggregating parcels of land for future sale or development.
Macquarie Group Limited is an Australian global financial services group. Headquartered and listed in Australia, Macquarie employs more than 20,000 staff in 34 markets, is the world's largest infrastructure asset manager and Australia's top ranked mergers and acquisitions adviser, with more than A$871 billion in assets under management.
TP ICAP Group plc is a financial services firm headquartered in London, United Kingdom. Its stock is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group, having been taken over in January 2009. It was the holding company for Bank of Scotland plc, which operated the Bank of Scotland and Halifax brands in the UK, as well as HBOS Australia and HBOS Insurance & Investment Group Limited, the group's insurance division.
Dorjee Sun is a social entrepreneur based in Singapore. His work for Carbon Conservation was the subject of the international feature documentary The Burning Season in 2008. He currently serves as chief executive officer of Bioeconomy as well as co-founder and Senior Advisor to the AirCarbon Exchange (ACX). He formerly served as director of Who Gives, Carbon Agro, and Carbon Conservation as well as advisor and early investor in many other startups.
Ian Richard Swingland is a British conservationist, convicted in 2017 of conspiring to commit fraud by false representation. He founded DICE at the University of Kent in 1989, recognised as one of the first interdisciplinary research and postgraduate training institutes in the world concentrating on biodiversity, communities and sustainable development. While at DICE he served as director and was elected to the first chair in Conservation Biology in the United Kingdom.
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom which operates independently of the UK Government and is financed by charging fees to members of the financial services industry. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom.
IIFL Finance Limited d/b/a IIFL and India Infoline Finance Limited, is an Indian diversified financial services company headquartered in Mumbai. The organisation was founded by Nirmal Jain. IIFL and its group companies are backed by Canadian investor Prem Watsa, private equity firm General Atlantic and CDC Group, the UK Government's private equity arm. IIFL is ranked among the top seven financial conglomerates in India and as the top independent financial services firm in India in terms of market capitalisation. Nirmal Jain is the chairman of the group, while R Venkataraman is the group managing director and co-promoter.
Banc De Binary was an Israeli financial firm with a history of regulatory issues on three continents. On January 9, 2017, the company announced that it would be closing due to negative press coverage and its tarnished reputation. The firm also surrendered its brokerage license with the Cyprus Securities and Exchange Commission (CySEC) removing its ability to legally trade in the European Union. Its 2014 revenues were reported as $100 million.
Bar Works was a New York City company that provided shared office space in a former bar and restaurant premises. For $25,000, investors could buy desks at Bar Works locations and then lease them back to the company. It has been noted that elements of the investment program are akin to a Ponzi scheme.
Karvy Group is a financial services company in India. It was involved in financial services like equity, commodities trading, depository and wealth services and distribution of other financial products. It has its headquarters in Hyderabad. It also had branch offices outside India in Bahrain, Dubai, Malaysia, Philippines and the United States. Scams perpetrated during 2019 involving Karvy Stock Broking Limited(KSBL), a group company led to the filing of criminal cases against the Chairman and others. This led to the banning of KSBL by the regulator.
AnyDesk is a remote desktop application distributed by AnyDesk Software GmbH. The proprietary software program provides platform independent remote access to personal computers and other devices running the host application. It offers remote control, file transfer, and VPN functionality. AnyDesk is often used in technical support scams and other remote access scams.
World News Media Limited was established in 2004 and trades from London, UK. It is the publisher of World Finance magazine which is tied to the marketing of numerous vanity awards under the name of the World Finance Awards. It also publishes The New Economy.
Worldwide Commodity Partners Limited was a company that sold carbon credits, for which there is no functioning secondary market, at inflated prices and which was wound-up by British regulatory authorities in 2014 in the public interest following an investigation by the Insolvency Service. It was one of a web of 13 companies that also included Eco-Synergies Limited that were shut down at the same time.
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