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Daily fraud update: 13th November


Alleged scam defendant in Florida given sentence date

A man who is alleged to have scammed forex traders out of $75m has been given a date to attend a sentencing hearing.

Joseph Anile, who pleaded guilty to a number of felony charges, will have to attend the US District Court in the city of Tampa in Florida on 8th January of next year.

He was involved in the running of a firm called Oasis International Group.

However, he has since admitted to a range of charges pertaining to his time at this firm between 2011 and 2019.

The charges against him were levied by the Commodity Futures Trading Commission (CFTC).

Charges have also been brought against the firm’s CEO, Michael DaCorta, plus other principals including Francisco Duran.

The firm operated under two other brands as well – Oasis Global FX, and Oasis Global FX Limited.

Allegedly, Anile and the others rang up potential investors to lure them into the scheme.

They allegedly created false reports which revealed interest on investments, and wrongly told the investors that gross returns of 21% or more a year had been reached.

If Anile is convicted, he is likely to face over three decades in jail.

He could also be hit with fines of a maximum of $600,000.

At the time of the charges first being brought, a spokesperson for the CFTC said that it had worked alongside other bodies in order to bring about the charges.

“This action is among the latest examples of the CFTC’s coordination with other regulators and criminal authorities to aggressively and assertively root out fraud and bad actors involved in our markets”, said its director of enforcement, James McDonald.

“We will continue to hold accountable not just companies, but also individual wrongdoers”, he added.

IRS claims crypto is used for tax evasion

An interview with a figure from the US Internal Revenue Service has shared his opinion that working alongside international tax authorities is required to prevent crypto from being used for tax evasion purposes.

Ryan Korner, who is a special agent with the IRS focusing on criminal behaviour, said that there had been a concerned move around the world towards using sophisticated tools to catch people who used crypto in this way.

The J5 group, which is known in full as Joint Chiefs of Global Tax Enforcement, has recently acted to install tools designed to prevent this problem from occurring.

A number of countries, including the US and Australia, are part of this organisation.

In a statement, the J5 group emphasised that “new tools” were now available for use.

“…tax fraud is not a new crime, but the sophistication with which criminals commit tax fraud has significantly increased through cyber-related activities in recent years”, the group said.

“Data breaches, intrusions, takeovers and compromises are the new tools that criminals use to commit tax crimes”, it added.