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| May 23, 2018

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Mario Batali Under Criminal Investigation for Sexual Misconduct: Report

May 21, 2018 |

Mario Batali is reportedly being investigated by the NYPD for sexual misconduct after a woman came forward on ’60 Minutes’ to claim he’d sexually assaulted her.  Anderson Cooper spoke to a handful of women Sunday, one of whom anonymously…


Mario Batali Under NYPD for a Second Rape Case

May 21, 2018 |

Mario Batali is under investigation for an alleged rape at another one of his restaurants, one a woman claims happened the year before the alleged Spotted Pig incident … TMZ has learned. A Texas woman claims she was raped by Batali on Jan. 29,…

Campbell’s Strategy Comes Under Scrutiny After CEO Exit

May 20, 2018 |

Denise Morrison was the biggest champion of Campbell’s yearslong push into fresh and refrigerated foods, but her abrupt departure suggests that the strategy flopped and that the 150-year-old company needs a new plan. US Business

Under threat and homeless, displaced Iraqis return to the camps

May 16, 2018 |

Just when those displaced by the onslaught of ISIS in Iraq almost four years ago thought the worst was behind them, many are leaving camps – only to learn their homes have been flattened, there are scant resources to survive and little in the way of safety and protection – prompting scores to turn back around and return to tent life.
FOX News


Adidas Under Investigation for Employee Injury at Kanye Yeezy Office

May 14, 2018 |

Adidas could be facing stiff penalties after an employee’s grisly injury at Kanye West’s Calabasas office — where his Yeezys are designed — is being investigated by OSHA … TMZ has learned. We broke the story … an Adidas employee was working on…

Embattled Wells Fargo likely to operate under Fed-imposed growth cap into next year, CEO says

May 14, 2018 |

Wells Fargo & Co.’s stiff penalty from the Federal Reserve over its unauthorized accounts scandal and other consumer abuses will continue into next year, the bank’s chief executive told investors Thursday.

The Federal Reserve in February ordered the bank to stop growing its assets beyond $ 1.95…

L.A. Times – Business

South Korea’s Largest Crypto Exchange Upbit Under Investigation for Fraud

May 11, 2018 |

South Korea's Largest Crypto Exchange Upbit Under Investigation for Fraud

The largest cryptocurrency exchange in South Korea, Upbit, is suspected of fraud and is currently under investigation. The prosecutors have conducted searches at the exchange and confiscated computers and accounting records.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Upbit Under Investigation

South Korea’s largest cryptocurrency exchange, the Kakao-backed Upbit is suspected of fraud, according to local media. While maintaining that customers’ assets are still kept securely, the exchange posted the following statement on its website:

Upbit is currently under investigation by the prosecution, and we are working diligently. Upbit services such as all transactions and withdrawals are operating normally.

South Korea's Largest Crypto Exchange Upbit Under Investigation for FraudUpbit is currently the world’s fourth-largest cryptocurrency exchange and the largest in South Korea with a 24-hour trading volume of $ 1.812 billion at the time of this writing, according to Coinmarketcap. The exchange is affiliated with Kakao Corp which operates the country’s most popular chat app, Kakao Talk.

Suspected of Fraud

Crypto of Korea explained:

The company [Upbit] is suspected of transferring customer funds from their cryptocurrency exchange account to a representative or executive account…Korean prosecutors have conducted search and seizure against the nation’s largest cryptocurrency exchange, Upbit, on charges of fraud.

South Korea's Largest Crypto Exchange Upbit Under Investigation for FraudAccording to the publication, the financial investigation team of the Seoul Southern District public prosecutors’ office sent prosecutors and investigators to Upbit headquarters on May 10 and May 11 “to secure computer hard disks and accounting records.” More than 10 investigators were sent to Upbit, Money Today added.

“After the digital forensics investigation on the seizures [seized items] and confirming the illegal charges, we will decide whether and in what direction we will investigate further,” the prosecutors were quoted saying.

Accused of Deceiving Customers

Upbit allegedly “pretends to hold [virtual currencies] without holding virtual currencies,” the news outlet noted.

South Korea's Largest Crypto Exchange Upbit Under Investigation for Fraud“The prosecution believes that Upbit has entered [into] the computer system as if it had virtual currencies that it does not actually own, and deceived customers,” KBS elaborated. According to the prosecution, the Hankyoreh described, “Upbit has been suspected of carrying out ‘book-trading’ without holding virtual currencies in a wallet.”

The Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) have been investigating domestic crypto exchanges since March, according to Yonhap News. Their first target was Coinnest where the chairman, Kim Ik-hwan, was detained over embezzlement and fraud charges. According to Money Today, unlike Coinnest, there is no suspicion of embezzlement with Upbit.

Do you think Upbit is guilty? Let us know in the comments section below.

Images courtesy of Shutterstock and Upbit.

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The post South Korea’s Largest Crypto Exchange Upbit Under Investigation for Fraud appeared first on Bitcoin News.

Bitcoin News


Cowboys’ Bo Scarbrough to Ezekiel Elliott: Take Me Under Your Wing!

May 8, 2018 |

Dallas Cowboys rookie RB Bo Scarbrough has a message for Ezekiel Elliott — HELP ME HELP YOU!!  The ex-Bama star was a 7th round pick in the 2018 NFL Draft — and knows he ain’t taking Zeke’s starting job.  Instead, he wants to be the…

It’s time to look under the hood of your target-date fund

May 6, 2018 |

Is your target-date fund the right one for you?

It’s a question worth asking, especially as the markets move from a steady upward trajectory to a zigzag line. Target-date funds — the foundation of many 401(k) plans for their easy, hands-off approach — are put through their paces during market volatility.

L.A. Times – Business

Germany’s Liberal Bishops Gain Influence Under Pope Francis

May 5, 2018 |

Germany’s Catholic bishops, after decades of being out of favor at the Vatican, have regained influence as they find themselves largely in line with the liberal stance of the first Latin American pope. What’s News Europe