Theye charged with multimillion-dollar Ponzi scheme


The US Commodity Futures Trading Commission (CFTC) has obtained a federal default judgement order requiring Richard Theye of Austin, Texas to pay more than $6.2 million in fines for operating a commodity pool Ponzi scheme.

On June 1, 2010, Theye and his company, Micind Capital Management, were charged with fraud for a scheme alleged to have started in December 2005. The charge states Theye solicited members of the public to invest millions of dollars in two commodity pools, known as RYCO Group

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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