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The loonie extended its slump in a wild day of global stock drama

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China is quickly overtaking Greece as the prevailing concern among investors. The economy is slowing, but it is not yet showing signs of vulnerability to the stock rout

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Shanghai and Shenzhen losses reflect shifts in psychology among savers more so than changes in the macro outlook

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LAS VEGAS, Nev. – Authorities in the U.S. are seeking the arrest of the chief executive of a Las Vegas investment company and two of his former Asia-based executives on an indictment alleging they headed a $1.5 billion Ponzi-style fraud scheme, officials announced Wednesday.
Edwin Fujinaga of Las Vegas, and Junzo Suzuki and Paul Suzuki, both of Tokyo, were each indicted on eight counts of mail fraud and nine counts of wire fraud in a scheme that prosecutors and the FBI said operated through Las Vegas-based MRI International Inc.
Thousands of unsuspecting Japanese investors were victimized, Assistant U.S. Attorney General Leslie Caldwell said.
Fujinaga, 68, also is charged with three counts of money laundering, and the indictment filed in U.S. District Court in Las Vegas seeks from the three defendants the forfeiture of the proceeds of their alleged crimes. They could face decades in prison if they are convicted.
Attorneys listed in federal court records as having represented Fujinaga; Junzo Suzuki, 66; and his son, Paul Suzuki, 36, in other cases didn’t immediately respond to telephone and email messages seeking comment…

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Canada’s main stock index slumped almost 1.5 percent on Wednesday in a widespread selloff, as market turmoil in China eclipsed Greece’s debt crisis as the focal point of concern for global investors.

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