September 2016 Archives - Going Public Lawyers

Court Enters Final Judgment Against Saleem Khan and Roshanlal Chaganlal for Insider Trading Scheme

The Securities and Exchange Commission (“SEC”) announced on September 21, 2016 that the Honorable Haywood S. Gilliam of the U.S. District Court for the Northern District of California entered a final judgment against defendants Saleem Khan and Roshanlal Chaganlal ordering the… Read More

Court Enters Final Judgment in Wings Network Pyramid Scheme Case

A federal court in Boston, Massachusetts, recently entered final judgments by consent against six defendants in an ongoing enforcement action filed by the Securities and Exchange Commission (“SEC”) in February 2015. The SEC charged two Portuguese companies operating… Read More

Steven Metro Sentenced to 46 Months in Prison for Insider Trading Scheme

On September 14, 2016 Steven Metro, a former Simpson Thacher & Bartlett employee, was sentenced to 46 months in federal prison. Metro previously pleaded guilty to criminal charges arising from his role in a long running insider trading… Read More

Stock-Trading Whiz Kid and Company Wealthpire Inc. Charged with Fraud

On September 13, 2016 he Securities and Exchange Commission (“SEC”) announced that self-proclaimed “stock trading whiz kid” Manuel Jesus and his stock newsletter company in Los Angeles have agreed to pay nearly $1.5 million to settle charges that they defrauded… Read More

SEC Charges Movie Exec Manu Kumaran

On September 23, 2016, the Securities and Exchange Commission (“SEC”) charged Manu Kumaran in connection with Medient Studios and later Moon River Studios. According to the SEC, Kumaran defrauded investors in a purported project to construct the largest movie studio in… Read More

Court Enters Injunction Against Safety Technologies LLC and Its Owner

On September 12, 2016, the Honorable Alvin W. Thompson, a federal judge in the U.S. District Court for the District of Connecticut, entered a preliminary injunction and continued asset freeze by consent against Thomas Connerton and his company,… Read More

SEC Charges Tycoon Energy Inc and Its President with Running a $5.6 Million Fraud

The Securities and Exchange Commission  (“SEC”) charged Tycoon Energy, Inc. and its president, Matthew Dee Nerbonne, with orchestrating an oil and gas fraud. The SEC’s complaint, filed on September 9, 2016, in the U.S. District Court for the… Read More

Pro Basketball Player Defrauded by Investment Advisor Charles Banks

The Securities and Exchange Commission (“SEC”) announced on September 12, 2016 that it has charged Atlanta-based investment adviser Charles Augustus Banks, IV with defrauding a former professional basketball player by inducing him to invest in a sports team apparel… Read More

Mark Bloom and Firm North Hills Management LLC Charged with Fraud

On September 6, 2016, the Securities and Exchange Commission (“SEC”) obtained a final judgment against Mark Evan Bloom and his advisory firm, North Hills Management, LLC, for securities fraud in a civil enforcement action filed on February 25,… Read More

RPM International Charged with Disclosure and Accounting Failures

On September 9, 2016 the Securities and Exchange Commission (“SEC”) charged Ohio-based chemical company RPM International Inc. and its General Counsel, Edward Moore, with failing to disclose a material loss contingency, or record an accrual for, a government… Read More