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The whole Madoff money dilemma.

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    They let Clarence Boddicker run a company?

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      That is very BaFin

      And my guess is that the entire German financial establishment will now decide that Braun was a master criminal, thus absolving them of any responsibility for what happened.

      This reminds me a lot of the vendetta against Ackermann over Mannesman. And just as in that case, the fact that Braun is Austrian helps (Ackermann is Swiss).
      Last edited by ursus arctos; 23-06-2020, 12:43.

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        And.... it's bust.

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          The FT comes up with a great excuse for dodgy browser histories: I was investigating a payment processor!

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            Pete Townsend smiles

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              https://twitter.com/FD/status/1281238824744554499

              High finance types do have a unhealthy fascination with the spy services. I am massively unsurprised that he tried this.

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                https://twitter.com/jsphctrl/status/1281583577336090626

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                  Another one for the "who would fall for this scam?" pile:

                  Several cases have come to our attention in Germany and Switzerland in which a caller claiming to be Felix Hufeld asks consumers over the phone to pay large sums of money into a specific account. In addition to these fraudulent calls alleged to be from BaFin’s President, numerous fake e-mails containing fraudulent requests for payments have also be sent using the name of his spokesperson, Dr Sabine Reimer.

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                    Older Germans with a bit of money (but not to much).

                    And only them.

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                      Spiegel reporting that Marsalek is hiding out in Belarus, as one does

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                        Monday 27 July 2020
                        10.00 AM


                        Judgment

                        CR-2019-004304 London Capital & Finance Plc (Skype)

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                          Goldman paying $3.9bn ($2.5bn really) to settle Malaysia's 1MDB investigation.

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                            Were they ever able to claw something back from Leissner?

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                              Still no sign of Jho Low anywhere, I presume. (Billion Dollar Whale is a pretty decent read if you haven't yet.)

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                                Originally posted by WOM View Post
                                Still no sign of Jho Low anywhere, I presume. (Billion Dollar Whale is a pretty decent read if you haven't yet.)
                                Well, his libel lawyers have been fairly visible. Presumably they know where he is.

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                                  Buddy film with Lho and Marsalek. They have the requisite skills and contacts.

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                                    "You go Low, I go to Dubai"

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                                      Levine's take is unsurprisingly amusing and apposite.

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                                        FCA consults on retail investments. This is pretty scary, and seems to support my not-particularly-well-thought-out proposal to ban non-equity retail investments which claim to yield more than x% over BBR or maybe 10 year Gilts, where x is a fairly low (definitely single-digit) percentage:

                                        The historically low interest environment has driven a ‘search for yield’ and may have affected some people’s perception of what a ‘good rate of return’ is. For example, recent FCA research found that consumers only start to recognise that a financial promotion for an investment product is probably ‘too good to be true’ when the promised rate of return is around 30% or more, at which point they are less likely to choose the product.

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