October 2016 Archives - Going Public Lawyers

Louis Buonocore and 4 Others Charged for Operating a Fraudulent Penny Stock Scheme

On September 29, 2016, the Securities and Exchange Commission (“SEC”) charged five individuals for engaging in a fraudulent scheme to illegally profit by manipulating the market and price for the stock of Ecoland International, Inc. (now known as… Read More

Marcus Luna and Norell Walker Charged in Penny Stock Scam

On September 30, 2016 the Securities and Exchange Commission (“SEC”) charged an attorney and three others in California with defrauding investors out of $13.6 million in a penny stock pump-and-dump scheme. The SEC alleges that Marcus Luna and… Read More

Cannabis Company Infinex Ventures and CEO Ronald Salem Charged with Fraud

On September 30, 2016, the Securities and Exchange Commission (“SEC”) filed fraud charges against cannabis company Infinex Ventures, Inc. and its CEO Ronald Salem. According to the SEC’s complaint filed in the U.S. District Court for the District of Colorado,… Read More

SEC Expands Rule 504 of Regulation D & Rule 147

On October 26, 2016, the Securities and Exchange Commission (the “SEC”) adopted final rules that amend Rule 504 of Regulation D and Rule 147. According to the SEC, these new rules modernize how companies can raise money to… Read More

Former CEO of Gerova Financial Gary Hirst Charged with Securities Fraud

    On September 28, 2016, a federal court jury in New York, New York convicted Gary Hirst, the former CEO and President of Gerova Financial Group Ltd., of securities fraud, wire fraud and conspiracy charges. The criminal… Read More

Aegis Oil and President Patrick Beason Charged with Oil and Gas Fraud

On September 29, 2016, the Securities and Exchange Commission (“SEC”) charged Aegis Oil, LLC and its President and CEO Patrick Reagan Beason with defrauding investors in oil and gas projects managed by Aegis. According to the SEC’s complaint filed… Read More

Nicholas Savva Charged with Defrauding Investors in His Hedge Fund

The Securities and Exchange Commission (“SEC”) announced settled charges against Nicholas Savva, a New York City resident, with defrauding 12 investors in connection with his hedge fund, Five Star Capital Fund, LP. In a complaint filed in the U.S…. Read More

Robert Gadimian Charged with Insider Trading

The Securities and Exchange Commission (“SEC”) today charged the former senior director of regulatory affairs for Puma Biotechnology with insider trading ahead of the company’s news announcements about a drug to treat breast cancer. The SEC alleges that… Read More

SEC Charges Former Stockbroker Peter Kohli with Fraud and Orders an Asset Freeze

On September 28, 2016 the Securities and Exchange Commission (“SEC”) announced charges and an emergency asset freeze against former stockbroker Peter Kohli for defrauding investors in his failing mutual fund business. The SEC’s complaint, filed in federal court in Philadelphia,… Read More

SEC Charges CEO Craig Sizer of Microcap Company with Fraud

On September 26, 2016 the Securities and Exchange Commission (“SEC”) charged a former microcap company CEO and a boiler room operator with defrauding seniors and others who were pressured to invest in a pair of penny stock companies… Read More