What are the top 10 largest financial fraud cases this year?

As an AI language model, I can only provide information up until September 2021. Here are some of the notable financial fraud cases that have occurred this year (up to September 2021). However, note that rankings and new cases may emerge after September. The list below is not exhaustive:

1. Wirecard Scandal: Wirecard AG, a German payment processing company, collapsed in June 2020 after admitting to a €1.9 billion ($2.1 billion) accounting scandal. Investigations and legal actions have continued into 2021.

2. Luckin Coffee Fraud: Luckin Coffee, a Chinese coffee chain, was discovered to have fabricated $310 million in sales in 2019. This led to an investigation, with the company later paying a $180 million settlement to the U.S. Securities and Exchange Commission (SEC).

3. Archegos Capital Management Collapse: In March 2021, Archegos Capital, a family office fund, defaulted on margin calls from several banks, resulting in massive losses for the financial institutions involved and exposing possible fraudulent activities related to market manipulation.

4. Greensill Capital Collapse: Greensill Capital, a supply chain finance firm, filed for insolvency in March 2021 after its main insurer declined to renew coverage. Greensill’s collapse revealed potential wrongdoing related to the company’s financing operations and relationship with an industrialist.

5. OneCoin Scheme Conviction: Konstantin Ignatov, a top leader in the OneCoin cryptocurrency Ponzi scheme, pleaded guilty in November 2019. In 2021, the trial of his sister, Ruja Ignatova (the scheme’s founder), began, raising further attention to the massive global fraud case.

6. BitConnect Fraud: BitConnect, a cryptocurrency lending and exchange platform, was shut down in January 2018 after regulators accused it of operating a Ponzi scheme. In 2021, legal actions and efforts to recover funds for investors have continued.

7. Fyre Festival Scam: While not strictly a financial fraud case, the Fyre Festival scandal involved widespread deception and manipulation of investors. In 2021, the organizer, Billy McFarland, faced ongoing legal consequences related to various fraudulent activities associated with the failed luxury music festival.

8. Nikola Corporation Allegations: Nikola Corporation, an electric vehicle start-up, faced fraud allegations in 2020 over misleading claims about its technology and products. In 2021, the U.S. Securities and Exchange Commission initiated investigations, resulting in a settlement agreement.

9. Danske Bank Money Laundering Scandal: Though the scandal emerged in 2018, the fallout continued into 2021. Danske Bank, a Danish financial institution, faced investigations and legal actions for facilitating a massive money laundering scheme through its Estonian branch.

10. Credit Suisse Archegos Fallout: Credit Suisse, a Swiss bank, endured significant losses as a result of the Archegos Capital Management collapse. The incident exposed poor risk management practices, resulting in reputational damage and potential legal consequences.

Please note that the circumstances and legal outcomes of these cases may have developed further since September 2021.