Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

Tag: Ministry of justice

Page 1/1

Regulatory Watch News

  • Sejean Reid and Whitney Charles charged with fraud and money laundering

    FINTRAC

    TORONTO – The Ontario Securities Commission (OSC) announces that Mr. Sejean Reid and Ms. Whitney Charles of Oakville, Ontario have each been charged under the Criminal Code with fraud over $5,000 pursuant to s. 380(a)(a) and laundering proceeds of crime pursuant to s. 462.31. The OSC alleges that between December 2021 and December 2023, Mr. Reid and Ms. Charles ran an investment scheme called ‘Golden Zone Corporation’. Investors were told, according to the OSC’s allegations, the funds were being professionally traded on well-known platforms, that their money was protected, and were promised weekly returns of 5–9%. The OSC believes these claims were false. About $4 million was collected from investors, but only a small amount was used for real investment trading. Most of the money was instead used to pay earlier investors, or for the personal use of Mr. Reid or Ms. Charles.

  • Romania: Four indicted for fraud involving funds for young farmers

    European Public Prosecutor's Office

    (Luxembourg, 24 April 2026) –The European Public Prosecutor’s Office (EPPO) in Cluj-Napoca (Romania) has filed an indictment at Cluj Court against four individuals for suspected fraud involving funds for young farmers, co-financed by the European Agricultural Fund for Rural Development (EAFRD). According to the evidence, the defendants submitted false and inaccurate documents to Romania’s Agency for Financing Rural Investments (AFIR), responsible for managing EU funds, thereby attempting to unlawfully obtain €115 000 (RON 575 000), of which they received €45 000 (RON 225 000).

  • FCA spearheads global action to stop illegal finfluencers

    Financial Conduct Authority

    Seventeen regulators worldwide took part in the 'week of action' which included enforcement activity, consumer awareness campaigns, and educational programmes for finfluencers who want to act responsibly. Activity started on 20 April 2026. In the UK, the FCA:

    • Secured a guilty plea from Geordie Shore’s Aaron Chalmers for illegal promotions on social media. Criminal proceedings have been commenced against a further 2 individuals for similar offences.
    • Sent 4 targeted warning letters to individuals suspected of engaging in unauthorised financial promotions.
    • Issued 34 warning alerts against unauthorised firms or individuals, and updated an additional 14 warnings.
    • Made 120 account takedown requests to social media platforms hosting illegal finfluencer content. Within these accounts, the FCA identified 1,267 illegal financial adverts, which reached a minimum of 2,338,372 UK accounts. 66% of these adverts were from firms or individuals already on the FCA's Warning List.

Sign Up To Our Newsletter

Contact Us