Sentence examples for bogus traders from inspiring English sources
Carousel fraud, also called missing-trader fraud, involves bogus traders buying pollution permits in the EU emissions trading scheme in one country without paying VAT.
In so-called missing trader fraud, bogus traders open an account in a national carbon registry, buy emissions allowances in one EU country VAT-free and sell them on with VAT added.
While Allied Irish, Ireland's largest financial institution, and the subsidiary where the trader worked, Allfirst Financial of Baltimore, provided only general details of the bogus trading, foreign exchange traders and analysts were agog at the size of the losses and the length of time they had gone undetected and unhalted by normal checks and safeguards.
Ch Insp Willie Findlay, of Police Scotland, said: "Bogus workmen and rogue traders prey on the vulnerable in our communities and commit quite unscrupulous crimes".
To fool his investors and any regulators who happened to come sniffing around, Madoff built a Potemkin-like investment operation complete with traders at fake terminals pretending to buy and sell stocks and a bogus paper trail of transactions and accounting reports.
But when a Barclays trader sought an advantageous yet bogus rate, an employee responded.
The study argued that high-frequency traders regularly flooded the marketplace with bogus orders to distract rival trading firms.
DealBook » New Powers Invoked to Curb a High-Speed Trading Feint | Three regulatory agencies set penalties on Panther Energy Trading for a practice known as "spoofing," in which bogus orders are used to draw in other traders and manipulate markets.
The Commodity Futures Trading Commission said on Monday that it had set penalties of $2.8 million on Panther Energy Trading for a practice known as "spoofing," in which bogus orders are used to draw in other traders.
In other cases, rogue traders have resold expired permits while lax regulators have approved bogus carbon-reduction projects and cyberthieves have used fake e-mail messages to steal permits and sell them on electronic trading markets.
