April 2016 Archives - Going Public Lawyers

SEC Charges Former Head of GTM, Khaled Bassily with Fraud

The Securities and Exchange Commission (“SEC”) filed a civil injunctive action on April 12, 2016, in the United States District Court for the Southern District of New York against Khaled “Kal” Bassily, the former head of ConvergEx Execution… Read More

Servergy Inc. and William Mapp Charged for Purporting False Information About Product

On April 11, 2016 the Securities and Exchange Commission (“SEC”) announced fraud charges against a Texas-based technology company and its founder accused of boosting stock sales with false claims about a supposedly revolutionary computer server and big-name customers purportedly… Read More

Rosalind Herman Convicted of Defrauding Investors of Over $1.3 Million

The Securities and Exchange Commission (SEC) announced that, on April 5, 2016, a federal jury in Massachusetts convicted Rosalind Herman of Woburn, Massachusetts of criminal charges of investment adviser fraud, tax fraud, wire fraud and conspiracy for her… Read More

Jonathan Fraiman Sentenced to Six Years’ Imprisonment for Mail Fraud

On April 7th, 2016, the Securities and Exchange Commission (SEC) announced that on April 4, 2016, California resident Jonathan Fraiman was sentenced to six years in prison, three years of supervised release, and ordered to pay restitution of… Read More

David Aubel and Robert Raffa Charged with Stock Manipulation Scheme

On April 7th, 2016, the Securities and Exchange Commission (SEC) announced fraud charges against two men behind a scheme to manipulate the stock of Green Energy Renewable Solutions, Inc., a company that purported to be in the business… Read More

SEC Charges John Scott Clark with Securities Fraud

On March 31, 2016, the Securities and Exchange Commission (SEC) announced fraud charges against a Cache County, Utah man who solicited investors in a bogus scheme involving investments in “top secret” Iraqi currency and oil contracts. In a… Read More

SEC Charges Nathanial Ponn with Defrauding Several Brokerage Firms

The Securities and Exchange Commission (SEC) announced fraud charges against Massachusetts resident Nathanial Ponn for engaging in a scheme to defraud numerous broker-dealers over more than seven years. According to the SEC complaint filed in federal court in Boston, Ponn… Read More

Navistar International Reaches Settlement Agreement with SEC

The Securities and Exchange Commission (SEC) charged Navistar International Corp. with misleading investors about its development of an advanced technology truck engine that could be certified to meet U.S. emission standards. Navistar, without admitting or denying the charges,… Read More

Daniel and Matthew Rivera Charged for Running a Ponzi Scheme Directed at Seniors

  On March 24, 2016, the Securities and Exchange Commission charged two brothers, and a company that they founded purportedly to develop and sell real estate, with engaging in a $2.7 million Ponzi scheme that targeted approximately 30,… Read More

When Short Sellers Hit Cannabis Stocks

When Shorts Hit Cannabis Stocks When a public stock’s price declines, it has become common practice for penny stock issuers and their disciples to scream foul play, typically claiming on message boards like Investor’s Hub that their company… Read More