May 2018 Archives - Going Public Lawyers

SEC Charges Clifton Stanley in Multimillion Dollar Ponzi Scheme Targeting Seniors

On April 6, 2018, the Securities and Exchange Commission charged Clifton Stanley in a $2.4 million Ponzi scheme and in a related, $1.4 million offering fraud targeting retirees. The SEC’s complaint alleges that, from 2010 to 2017, Clifton… Read More

Capital Cove Bancorp LLC and Christopher Lee aka Rashid Khalfani Charged with Defrauding Investors to Pay Over $3.8 Million

On April 11, 2018, a federal district court has ordered Christopher Lee aka Rashid Khalfani, whom the Securities and Exchange Commission charged in 2015 with pocketing money raised from investors, to pay over $3.8 million in disgorgement and… Read More

SEC Charges Saverio Barbera with Insider Trading

On April 5, 2018, the Securities and Exchange Commission charged Saverio Barbera with tipping his brother and father with material nonpublic information about an upcoming corporate acquisition. The SEC’s complaint, filed in the United States District Court for… Read More

SEC Obtains Final Judgment Against Merrill Robertson Charged With Running $10 Million Fraud

On April 5, 2018, a federal district court in Richmond, Virginia has entered a final judgment against Merrill Robertson, Jr., a former football player charged by the Securities and Exchange Commission with defrauding investors, including coaches he knew from his… Read More

SEC Charges John Jumper with Stealing Millions from a Pension Plan

On April 18, 2018 the Securities and Exchange Commission charged John Jumper with stealing approximately $5.7 million from a Pennsylvania company’s pension plan. According to the SEC’s complaint filed in federal court in Memphis, Tennessee, on three separate… Read More

Shane Fleming Charged with Insider Trading

On September 29, 2017, the Securities and Exchange Commission charged Shane Fleming, a middleman tipper, and six traders with insider trading ahead of the announcement that the company would be purchased and taken private. In a complaint filed… Read More

SEC Charges Michael Scronic with Engaging in Ponzi-like Scheme

On April 4, 2018, the Securities and Exchange Commission charged Michael Scronic with fraud stemming from lies to retail investors about the value of their investments in a Ponzi-like scheme. The SEC alleges that, starting in approximately 2010,… Read More

SEC Charges Michael Liberty with Fraudulent Scheme to Defraud Investors and Misappropriate Funds

On April 4, 2018, the Securities and Exchange Commission charged Michael Liberty, the founder of the fintech startup now known as Mozido, Inc., with a fraudulent scheme to trick hundreds of investors into investing in his shell companies… Read More

Operation Shell Expel in Retrospect

When Jay Clayton was sworn in as Chairman of the Securities and Exchange Commission (SEC) in May 2017, he was perceived as a business-friendly choice.  While he is indeed committed to creating new opportunities for public companies and… Read More

Court Grants Summary Judgment Motion against Iftikar Ahmed

On March 29, 2018, a federal district court in Connecticut granted the SEC’s motion for summary judgment as to the liability of Iftikar Ahmed alleged to have fraudulently diverted money from the venture capital funds he advised. The… Read More