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Former financial advisor Kristofer Ridgway reveals $6B investment scam
A former high-flying financial advisor at a top-level wealth management firm has made a grovelling apology after he was banned from working in the industry by the financial regulator for dodgy practices. Kristofer Ridgway was a senior advisor at the Brisbane offices of respected company Shaw and Partners until he was sacked in February 2022. A formal complaint from one of his clients triggered a company investigation which discovered Ridgway was secretly pouring millions of dollars in clients’ cash into unapproved investments in breach of the firm’s rules. ‘I don’t want to think of myself as a crook. But some of my actions in recent times have been terribly unlawful……
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FTX’s first interim report since bankruptcy reveals massive failures in management, finance and security
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) – The new management team of FTX, led by John Ray, issued their long-awaited interim report on the state of the exchange and its sister firm, hedge fund Alameda Research. The severity and scale of the failures it outlines helps to explain why it took nearly five months to the day for the first report to be filed. “The Debtors have had to overcome unusual obstacles due to the FTX Group’s…
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Spotify not raising prices reveals ‘competitive weakness’: Analyst
Spotify’s (Location) choice not to raise costs on its U.S.-centered quality membership system speaks volumes about the audio streaming giant’s deficiency of pricing energy. At minimum in accordance to a person bearish analyst. “[It’s] a strategic perform. It speaks to the relative aggressive weakness of their company as opposed to these larger firms that have greater, much larger platforms that deliver a great deal far more to the table,” New Constructs CEO David Trainer explained to Yahoo Finance Reside, referring to the latest rate hikes from both Apple Tunes (AAPL) and YouTube Quality (GOOGL). “Firms like Google and Apple are creating tons of money. They can manage to eliminate a…
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