SEC nails Malta broker linked to Kargin, Parex, Citadele, M2M

Malta licensed broker Exante has been caught by the S.E.C. in a massive fraud scheme.  Although Exante is licensed in Malta, it has an office in Latvia and some employees are formerly from Parex Bank.  Exante has strong relationships with two Parex successor banks Citadele Bank and M2M Bank and employees boasted of meetings with Parex Oligarch Valery Kargin.  The Latvian government is responsible for this new fraud scheme because the Latvian government refused to prosecute Parex for many previous fraud schemes.

http://www.maltatoday.com.mt/business/business_news/56060/maltabased_hedge_fund_involved_in_100_million_fraud