SEC shuts down fraudulent $295 million “Trade Coin” crypto scheme Loop Cayman Islands

Black Immigrant Daily News

The content originally appeared on: Cayman Compass

The Securities and Exchange Commission on Friday announced charges against Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tetreault for their roles in Trade Coin Club, a fraudulent crypto Ponzi scheme that raised more than 82,000 bitcoin, valued at $295 million at the time, from more than 100,000 investors worldwide.

According to the SEC’s complaint, filed in the United States District Court for the Western District of Washington, Braga created and controlled Trade Coin Club, a multi-level marketing program that operated from 2016 through 2018 and promised profits from the trading activities of a purported crypto asset trading bot. The SEC alleges that Braga and Paradise lured investors with false representations that the bot made “millions of microtransactions” every second, and that investors would receive minimum returns of 0.35 percent daily. However, instead of deploying investor funds for the purported trading bot, Braga allegedly siphoned off investor funds for his own benefit and to pay a network of worldwide Trade Coin Club promoters, including Paradise, Taylor, and Tetreault.

The SEC further alleges that Trade Coin Club operated as a Ponzi scheme and that investor withdrawals came entirely from deposits made by investors, not from any crypto asset trading activity by a bot or otherwise. The complaint further alleges that Braga personally received at least 8,396 bitcoin of the amounts invested (worth $55 million at the time), Paradise received 238 bitcoin (worth more than $1.4 million at the time), Taylor received 735 bitcoin (worth more than $2.6 million at the time), and Tetreault received 158 bitcoin (worth more than $625,000 at the time).

“We allege that Braga used Trade Coin Club to steal hundreds of millions from investors around the world and enrich himself by exploiting their interest in investing in digital assets,” said David Hirsch, Chief of the Enforcement Division’s Crypto Assets and Cyber Unit. “To ensure our markets are fair and safe, we will continue to use blockchain tracing and analytical tools to aid us in the pursuit of individuals who perpetrate securities fraud.”

The SEC’s complaint alleges that Braga violated the antifraud and securities registration provisions, Paradise violated the antifraud, securities registration, and broker-dealer registration provisions, and Taylor violated the securities and broker-dealer registration provisions of the federal securities laws. The complaint seeks injunctive relief, disgorgement, and civil penalties. The SEC filed a second complaint alleging that Jonathan Tetreault violated the securities and broker-dealer registration provisions of the federal securities laws. Without admitting or denying the allegations, Tetreault agreed to settle the SEC’s charges. The settlement is subject to Court approval.

The SEC’s investigation was conducted by Serafima K. McTigue of the Crypto Assets and Cyber Unit and Victor Hong of the San Francisco Regional Office. The case was supervised by Steven Buchholz, Mr. Hirsch, and Jorge G. Tenreiro of the Crypto Assets and Cyber Unit. The litigation is being conducted by John Han of the San Francisco Regional Office and Ms. McTigue. The Commission appreciates the assistance of Brazil’s Comiss?o de Valores Mobil?rios, Portugal’s Comiss?o do Mercado de Valores Mobili?rios, the Finland Financial Supervision Authority, and the Korea Financial Services Commission.

The SEC’s Office of Investor Education and Advocacy and Enforcement’s Retail Strategy Task Force has issued an Investor Alert on Digital Asset and Crypto Investment and an Investor Alert on Pyramid Schemes Posing as Multi-Level Marketing Programs. Investors can find additional information about digital asset and crypto investment schemes, including the warning signs of fraud, at Investor.gov.

(Source: SEC)

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Bike taxi operator, female pillion die in 2-vehicle Westmoreland crash Loop Jamaica

Black Immigrant Daily News

The content originally appeared on: Jamaica News Loop News
Loop News

32 minutes ago

File photo of the scene of a motorbike crash.

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A bike taxi operator and a female pillion died after the motorcycle they were travelling on crashed into a truck in Little London, Westmoreland on Friday.

The deceased are 47-year-old Rohan Stephens of Little London, and 56-year-old Lorna Grey of Savanna-la-Mar, both in Westmoreland.

Reports are that the motorcycle and the truck were both travelling in a southerly direction along the Broughton main road in Little London on Friday morning.

On reaching an intersection, Stephens who was driving the motorcycle, attempted to overtake the motor truck, which was in the process of making a right turn.

Stephens ended up losing control of the motorcycle, which collided with the truck.

Both the motorcyclist and the pillion sustained multiple injuries, and later died at hospital.

Vice Chairman of the National Road Safety Council (NRSC), Dr Lucien Jones, in media interviews, said approximately 390 persons had died from road crashes up to Friday morning.

Some 487 persons died from road crashes in 2021.

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AG Congratulates the 2022 Miss OECS Queen Miss Keriann Thomas

Black Immigrant Daily News

The content originally appeared on: Antigua News Room

The Minister of Public Safety and Labour the Hon. Steadroy Cutie Benjamin along with the Permanent Secretary and the entire Ministry would like to congratulate, the 2022 Miss OECS Queen Miss Keriann Thomas.

Thomas, who is a law enforcement officer within the Royal Police Force of Antigua and Barbuda secured the top spot at the 2022 OECS competition held in Dominica on November 5th. She recently won the 2022 Police Week Queen Pageant held in September.

Benjamin said she represented the Police force and by extension the country of Antigua and Barbuda with pride, grace and talent and must be commended for the tremendous courage and consistency displayed.

2022 Miss OECS pageant was held under the theme “a tropical utopia” and gave contestants and opportunity to promote their country and culture. Thomas won best Creative National Wear, Best swim wear and Best Evening Gown.

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Lethem Health Centre gets new ATV to expand immunisation reach

Black Immigrant Daily News

The content originally appeared on: INews Guyana
The new ATV was handed over to the Lethem Health Centre in support of it’s immunisation programme

The Maternal and Child Health Department of the Lethem Regional Hospital in Region Nine (Upper Takutu-Essequibo) on Saturday received a new All-Terrain Vehicle (ATV) to boost its current expanded immunisation programme.

The $3 million automobile was purchased through the Government of Guyana, Inter-American Development Bank (IDB) loan.

The key to the ATV was handed over to the Regional Chairman of Region Nine, Brian Allicock, by the Chief Medical Officer (CMO) at the Ministry of Health, Dr Narine Singh. This was done in the presence of the Director of Family and Primary Health Care Services, Dr Ertenisa Hamilton; Regional Health Officer (RHO) of Region Nine, Dr Cedel Mc Watt, and Hinterland Coordinator, Micheal Gouveia.

According to Dr Hamilton, the purchase was made possible through the Maternal and Child Health Improvement Project of which Region Nine was a beneficiary among other regions.

“This vehicle will be used to continue to provide services for women of reproductive age, neonates and children”, she explained.

Saturday’s short handing-over ceremony was held in the compound of the Lethem Regional Hospital.

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CDB Calls For New Financing Solutions To Combat Climate Change Impacts – St. Lucia Times News

Black Immigrant Daily News

The content originally appeared on: St. Lucia Times News

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The Caribbean Development Bank (CDB) continues to work with countries in the region to build resilience recognising the impact of climate change on all aspects of economies says Mr. Ian Durant, the Bank’s Director of Economics.

Climate change represents one of the greatest challenges in human history…It is no longer a hypothesis, but a fact that Small Island Developing States (SIDS) are among the most vulnerable to climate change, with Caribbean SIDS especially being exposed to more frequent and intense climate events. Paradise as we know it is under severe threat,” he stated.

Speaking at the Conference on the Economy hosted by the University of the West Indies, Saint Augustine on November 3, Mr. Durant highlighted the Bank’s interventions in the area and advocated for diverse strategies to safeguard the region’s future.

“Sustainable sources of funding for disaster risk management, including increasing access to concessional resources and targeted instruments, is a critical imperative to help the region build adaptive and climate-resilient infrastructure,” he said.

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Building resilience also involves advanced budgeting and planning, The Director indicated, adding that disaster risk management strategies in the economic domain must be developed and can include natural disaster and pandemic escape clauses in financing instruments, as well as budget reallocation, external credit, temporary tax increases and donor assistance.

According to Mr. Durant “In small, open economies… where foreign exchange earnings are critical to the orderly functioning of the economy, the interruption and extended loss of earnings erode foreign exchange buffers, interrupt livelihoods, create unemployment and usher in additional complications for macroeconomic management, frequently requiring countries to seek foreign exchange support, reorder development priorities and postpone the implementation of medium-term strategies.”

The CDB Executive also said that the Bank recognises that climate change is affecting not only the growth performance and fiscal and foreign exchange buffers, but it is also posing challenges for labour markets and eroding an already fragile physical capital stock.

The finance focused initiatives would therefore seek to further curb the negative impact of climate events in the Caribbean.

Employment, income generation, the natural environment, quality of life, food security and production, were among the areas Mr. Durant cited as being negatively affected by climate change. Consequently, while providing financing for climate resilience, CDB has also intervened by strengthening resilience through Disaster Risk Reduction and Disaster Risk Management.

The Bank has mainstreamed climate change and Disaster Risk Management into its operations; mobilised increased levels of concessionary resources; improved climate resilience in vulnerable sectors; strengthened the environment to support climate resilient measures; and improved the capacity in its Borrowing Member Countries to deliver in this area.

Additionally, CDB has provided technical assistance to support improvements and build resilience capacity in critical areas such as physical infrastructure through building code development, and implementation alongside partner agencies.

Furthermore, CDB has actively pursued research in priority areas to aid in building resilience through expanding access to concessional finance.

It has advanced the Internal Resilience Capacity (IRC) and Recovery Duration Adjuster (RDA) Vulnerability and Resilience Framework to the international community. These tools incorporate both vulnerability and resilience in addressing development challenges and provide a more equitable yardstick for providing access to concessional finance.

SOURCE: Caribbean Development Bank

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Weddings at Oistins Magistrate’s Court still up from during COVID Loop Barbados

Black Immigrant Daily News

The content originally appeared on: Barbados News

The number of people opting to get married at the Magistrate’s Court in Oistins has been up since the start of the COVID-19 pandemic and the trend is still ongoing.

This is according to one conducting such services, Magistrate Deidre McKenna.

It really looks like they got their dresses made for the wedding although it’s not a traditional wedding dress

In an interview with Loop News, Magistrate McKenna said that COVID forced many to take this route due to the restrictions but since the reopening of the country and the lifting of the various protocols, she confessed that more people than usual in the past are still picking a court wedding.

She said, “Yes I’m doing more weddings. It has increased significantly since the COVID pandemic. As soon as the courts opened back people were here.”

She said that as it pertains to reasons, there are a plethora beyond the restrictions too. She said, for some, they have lost their jobs and could not afford to do a big event. The limited number of guests worked in their favour. “They only had to walk with two witnesses. That’s it!”.

Asked if persons were dolling up for the big day still despite coming to the court, the magistrate said, “Oh yes!” She said, “Most of them are dressing up.” She explained on very few occasions would you see a wedding gown, but she said that care is being taken to look their best. She said that most women come in a special gown for the occasion. “It really looks like they got their dresses made for the wedding although it’s not a traditional wedding dress.”

In terms of colour, Magistrate McKenna said those who stick to a traditional dress also wear the traditional white, but the others in their gowns come most colourful. “I’ve seen all colours.”

The court register shows that in 2021, Magistrate McKenna conducted 45 weddings at the court house and up to October 2022, she had conducted 25 weddings though the churches are open and people once again have the option to go big for their nuptials.

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14 days to go: Team Germany Loop Barbados

Black Immigrant Daily News

The content originally appeared on: Barbados News

Two more weeks. That’s the time left until history is made, as the first winter World Cup kicks off at the Al Bayt Stadium, in Qatar.

Four-time champions and football powerhouse Germany will be a on a mission to restore their super status after a first-round exit, four years ago.

The shocking early departure of Germany in 2018 was their first since 1938 and first since the modern format of the global tournament.

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Germany has been a dominant force in world football for many years.

Along with their four world titles, they have been European champions three times and finished between first and fourth place 12 times at the FIFA World Cup.

To paint a clearer picture of the durability of the German national team, the “Nationalelf “has been on the FIFA World Cup podium each decade a World Cup was hosted.

Germany is the only nation to have won a male and female World Cup and the lone European nation to win a world title on American soil (Brazil, 2014).

Despite those illustrious accolades, the 2018 early World Cup exit revealed some deficiencies in the German camp, which led to a near-relegation from the inaugural UEFA Nations League in 2018, their first World Cup Qualification defeat since 2002, at the feet of minnows North Macedonia and a Round of 16 exit from the 2021 European Championship; their first at this stage in international competition.

Now under the charge of a new coach and some graduates from the German academy system, Germany will be aiming to return to their traditional glory days.

Country: Germany

Capital: Berlin

Population: 83.1 million

Confederation: UEFA (Europe)

Group: E

Professional League: German Bundesliga

World Cup appearances: 20 (2022)

Qualification status: UEFA Group J winners

Key players: Manuel Neur (Bayern Munich, Germany), Antonio Rudiger (Real Madrid, Spain), Ilkay Gundogan (Germany), Joshua Kimmich (Bayern Munich, Germany), Thomas Muller (Bayern Munich, Germany)

Coach: Hansi Flick (German)

Group mates: Spain, Costa Rica, Japan

Predictions: Group winners and quarterfinals at least, but as usual, a tournament contender.

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Man shot dead at Upper Gills Road Loop Barbados

Black Immigrant Daily News

The content originally appeared on: Barbados News

A 26-year-old man is dead following a shooting incident which occurred around 10:40 am today, Sunday, November 6.

Police report the victim was standing by a house in the area of Upper Gills Road, St Michael when he was shot multiple times by a pillion rider onboard a motorcycle.

The driver and rider escaped by travelling along Upper Roebuck Street towards Tweedside Road, St Michael .

The victim was transported by private vehicle to the hospital, where he was reported dead on arrival by medical personnel.

Investigations are ongoing.

The Barbados Police Service is urging anyone who may have witnessed or have any knowledge of this incident or the perpetrators involved to call Central Police Station at 430 7676, Police Emergency 211, CID 4307189 or Crime Stoppers at 1 800 8477 (TIPS).

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Modeontwerpster Tifén Akobe vindt inspiratie in ‘Ahala’

Black Immigrant Daily News

The content originally appeared on: De Ware Tijd Online

door Audry Wajwakana PARAMARIBO — Na een periode van tegenslagen is modeontwerpster Tifén Akobe (29) terug. Op 7 oktober lanceerde

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Some lingering concerns about ‘fire back’ stance of JCF, Chang Loop Jamaica

Black Immigrant Daily News

The content originally appeared on: Jamaica News Loop News

At least two individuals say they are concerned about utterances from the political directorate and the Jamaica Constabulary Force (JCF) that police officers should “fire back” if they are engaged by gunmen.

For Nicholas Bell* and Kerry Shaw*, they are concerned about the legal ramifications for police officers who are involved in such acts when they occur.

Additionally, they are contending that the situation could lead to an extensive all-out “fire fight” between criminals and the police over time.

“I believe you can shoot and injure dem (criminals) using your tactical training. Yuh nuh necessarily have to kill dem, because remember INDECOM (the Independent Commission of Investigations).

“Who ago pay your legal fee if charged?” asked Bell during a recent interview.

In weighing in on the issue, Shaw commented: “Let the law take its course, because this ‘police must win’ thing have me concerned as a mother of a policeman and how Jamaica could end up in the future.”

On the other hand, a man who was acquitted of a serious gun-related offence in 2013, said he has no issue with the comments, as police are entrusted with protecting citizens and the state.

“Once you know within yourself yuh not guilty, let the police do their job and don’t retaliate. If you do, then pay the consequence,” declared Michael Hall*.

In September, National Security Minister, Dr Horace Chang, stirred controversy and made several headlines when he said police personnel should not miss when they respond to criminals who use deadly force to resist being arrested.

“They (the police) not out there shooting down people like that. There are fatal shootings because man shoot gun after dem. I not telling police not to fire back, and ah say it right here in Westmoreland, I not sending no ambulance out there either,” declared Chang on September 15.

He was then addressing a ground-breaking ceremony for a new Frome Police Station in Westmoreland.

“Anytime a man take up a gun after police, I expect the (police) commissioner to train the police when they must not miss,” Chang indicated then.

The comments have been widely viewed as the minister suggesting that cops should “shoot to kill” criminals. However, those words were never uttered by Chang.

Since that time, there have been several violent clashes between the police and gunmen.

Some of the latter have been fatally killed, so much so that the Independent Commission of Investigations (INDECOM) reported on October 25, that it was probing 19 security force fatal shooting incidents for the month.

For Bell, the situation is worrying.

“Is like the ting now get drastic ’cause, in my view, police nah back down and criminal nah back down again,” he opined.

Bell, a resident of St Ann, said he has never been charged for a criminal offence. However, his feelings towards the “fire back” comment stems from the fact that he has relatives who are police officers, and he is concerned about their wellbeing.

“Listen, mi know it come with the job that, yeah, yuh have to confront two man and so, but mi feel you as a policeman must shoot and wound dem and leave them defenceless, and then you can arrest them.

“Mi have relatives in the force (JCF) and mi nah lie, mi nuh want criminal see them a road and do things to dem, so mi nuh agree with the (alleged) shoot to kill thing,” he explained.

But just this week, Chang put the country on notice that as the police improve their capacity and intelligence gathering, they will end up in more confrontations with criminals, resulting in more fatal shootings of the latter.

“As Government, we can only provide them (the police) with the appropriate tools which we are doing. We’re expanding it, and when we do so, at the stage we are at, Madam Speaker, we gonna have more fatal shootings,” Chang declared in the House of Representatives.

Added Chang on the likelihood of more police fatal shootings: “In fact, it’s inevitable, because the police intelligence is getting better.

“We are moving aggressively to complete our suite of communication equipment for them…, we giving them more motor vehicles.

“To me, it’s somewhat annoying and it’s objectionable that…, the image is still going that policemen out there who are seeking just to kill,” stated Chang, who is also the Deputy Prime Minister.

“They (the police) are out there to protect, (and when) they are faced with gunmen, they have to respond and they are trained to respond,” he insisted.

“They (the police) are trained effectively that when they are engaged in combat with criminals, they must win. I have no apologies for that.

“I want them to win. I expect them to win, and we train them and provide the equipment for them to do so,” said Chang.

And in the wake of two police officers being killed last month, Police Commissioner, Major General Antony Anderson, indicated that police officers have the full backing of the Police High Command for lawful use of force against criminals.

“Members are also being reminded that they have the full backing of the Police High Command in the lawful use of force as is necessary to defend themselves, their colleagues and citizens against any attack,” declared Anderson on Tuesday.

Despite that declaration, Kerry Shaw, a mother of two sons, one of whom is in the police force, is still concerned.

“What if they (the police) are found to have used excessive force following the shootings, Government going to stand the cost of legal fees?” the woman quizzed.

“I think when we ah utter certain comments, we have to be very, very careful, because yuh have police who still take public transport, attend parties, in the public generally, and what if dem (the criminals’) crony spot dem?

“What then? So, we have to be careful as a Government and a JCF with what we saying because this is Jamaica and Jamaica is small,” Shaw insisted.

At the same time, she recognised the crime situation facing the country and the assortment of firearms available to crimnals.

“I’m not saying enuh that police mustn’t defend themselves, no, not at all.

“However, sometimes they don’t always have to kill if confronted on the battlefield, because you can wound the persons and carry them in on some occasions when the situation presents itself,” the Portland woman commented.

She expressed condolences to the friends and family of those police officers who were killed by criminals last month.

Surprisingly, Michael Hall shared a different view, despite having been charged with illegal possession of firearm and shooting with intent in 2010.

Three years later, he was freed, as, according to Hall, the prosecution admitted that there was no evidence to prove that he had a gun or fired it at the two complainants.

Further, there was no gunpowder residue found on his fingers, according to Hall.

While still harbouring feelings that he was wrongfully arrested and charged, the 37-year-old farmer said he agreed that police officers should always win when they are confronted with criminals.

“That’s the truth, they should win at all times if a man open fire on them, because once you not guilty – as mi say before – you should turn over yourself and the law will take its course.

“… But once you ago shot after police to kill him, then you wrong there so on several levels and mi nuh feel it (them being killed by the police) extrajudicial or anything, because criminal a criminal and law is law,” Hall maintained.

Several attorneys have weighed in on the so-called “fire back” urgings of Chang and the commissioner.

Writing in one of the local daily newspapers in September, attorney Matthew Hyatt urged police officers to be careful when using force.

“I urge the brave members of the Jamaica Constabulary Force to use only such force as is necessary in the circumstances,” Hyatt wrote then.

“Even if you see someone in the commission of a crime, you are not empowered to ‘shoot to kill’ unless someone’s life is in danger.

“The Privy Council case of Beckford v R (1987) provides that the test for self-defence is that ‘a person may use such force as is reasonable in the circumstances as he honestly believes them to be in the defence of himself or another.’

“In the end, the rule of law must prevail, and it is irresponsible to send the wrong message to police officers, lest they be found guilty of murder,” Hyatt wrote then.

* Name changed upon request

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