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
Four Fraudsters Charged in Arco Hills Silica Mining Company Scheme
The Securities and Exchange Commission (“SEC”) charged Gordon Jenkins, Theodore Sweeten, Francis Kreais and Craig Parkinson with orchestrating an offering fraud involving the sale of interests in a purported mining company, Arco Hills Silica Company. The SEC’s complaint, filed… Read More
SEC Obtains Emergency Order to Prevent Anthony Buzaneli from Leaving U.S.
On August 26, 2016, Judge Susan Richard Nelson of the District of Minnesota issued an order requiring Anthony Buzaneli to surrender his passports and prohibiting him from leaving the United States until further order of the Court. The… Read More
Court Enters Final Judgment Against Jilbert Tahmazian in an Antifraud Action
On August 26, 2016, the U.S. District Court for the Central District of California entered a final judgment against Jilbert Tahmazian, an attorney licensed in California, ordering him to pay $196,524 to settle an antifraud action filed by… Read More
Donald Watkins and his Companies Charged with Defrauding Investors
The Securities and Exchange Commission (“SEC”) charged Alabama attorney Donald Watkins and companies he controls with defrauding professional athletes and other investors out of millions of dollars, much of which he spent on his girlfriend and to cover… Read More
Court Enters Final Judgments Against Promotors of Fraud Company Wings Network
On August 31, 2016, a federal court in Boston, Massachusetts, entered final judgments by default against five defendants in an ongoing enforcement action filed by the Securities and Exchange Commission (“SEC”) in February 2015. The SEC charged two… Read More
SEC Files Complaint Against Dennis Hamilton of Harman International Industries
On February 5, 2016, the SEC filed a complaint charging Dennis Wayne Hamilton with insider trading in the company’s stock and making more than $130,000 in illegal profits by trading on nonpublic information he learned on the… Read More
SEC Charges Enviro Board Corporation and Two Executives with Fraud
On August 26, 2016 the Securities and Exchange Commission (“SEC”) charged Enviro Board Corporation and two of its executives with using baseless financial projections and other misleading statements to defraud investors in a venture to manufacture environmentally-friendly building materials…. Read More
SEC Files Subpoena Against Edward Panos and His Wife for Penny Stock Fraud
On August 25, 2016 the Securities and Exchange Commission (“SEC”) announced that it filed a subpoena enforcement action in the U.S. District Court for the District of Columbia against Edward Panos and his wife, Allison Panos, and various entities… Read More
SEC Charges Secured Income Reserve and Former Officers with Fraud
The Securities and Exchange Commission (“SEC”) filed fraud charges against Secured Income Reserve, Inc. and three of its former officers alleging that Income Reserve, Ilona Mandelbaum of Palm Beach Gardens, Fla., David Zimmerman of Boca Raton, Fla., and… Read More
Cedric Cañas Charged with Insider Trading and Ordered to Pay Over $1.1 Million
The Securities and Exchange Commission (“SEC”) obtained a default judgment against a former high-ranking executive at Madrid-based Banco Santander, S.A. (“Santander”) for trading based on material, nonpublic information about a proposed acquisition for which the Spanish investment… Read More
John Ragsdale Charged with Aiding and Abetting Penny Stock Fraud
On August 22, 2016 the Securities and Exchange Commission (“SEC”) announced that it has charged John Ragsdale of South Carolina with aiding and abetting a penny stock fraud involving now-defunct U.S. public company Global Earth Energy, Inc. (Global Earth),… Read More
Court Enters Final Judgment Against Patrick O’Neill in Insider Trading Case
On August 18, 2016, the federal district court in Massachusetts entered a final judgment against a senior vice president at Eastern Bank Corporation, Patrick O’Neill, to settle allegations that he engaged in insider trading in the stock of Wainwright Bank… Read More
Sean Stewart Found Guilty of Insider Trading
On August 17, 2016, a jury in federal court in Manhattan returned a guilty verdict on all nine counts against former investment banker Sean Stewart in a criminal trial prosecuted by the U.S. Attorney’s Office for the Southern… Read More
Stockbroker Paul Rampoldi Charged with Insider Trading
On August 11, 2016 the Securities and Exchange Commission (“SEC”) charged stockbroker Paul Rampoldi and his friend with participating in an insider trading scheme to profit in advance of two major announcements out of a pharmaceutical company. The… Read More
Global Digital Solutions of West Palm Beach, FL and CEO Charged with Fraud
On August 12, 2016 the Securities and Exchange Commission (“SEC”) charged West Palm Beach-based Global Digital Solutions, former chairman and CEO Richard Sullivan, and former CFO David Loppert with defrauding investors by issuing false and misleading press releases purporting… Read More
Sameer and Praveen Sethi Found in Contempt of Court After Injuction
On August 9, 2016, a federal court in Texas entered contempt orders against Sameer Sethi, Praveen Sethi, and John Weber after they violated the court’s May 26, 2015 preliminary injunction restraining Sameer Sethi and Sethi Petroleum, LLC from… Read More
Edwin Ruh Jr. and His Firm Charged for a Fraudulent Securities Offering
On August 10, 2016, the Securities and Exchange Commission (“SEC”) filed fraud charges against an individual, Edwin Ruh Jr., and his firm, Pan Asia China Commerce Corp. Inc. (“PAC-3”), in connection with the fraudulent offering of an investment… Read More
Three Officers of Brokerage Firm Global Transition Solutions Charged with Fraud
On August 8, 2016 the Securities and Exchange Commission (“SEC”) charged three individuals and the now-defunct firms Global Transition Solutions, Inc. and Global Transition Solutions, LLC (collectively “Global Transition”) with fraud for misleading their current and prospective customers… Read More
Investment Advisor Patrick Churchville Pleads Guilty to Running $21 Million Ponzi
On August 4, 2016, Patrick Churchville, a defendant in an ongoing SEC litigation, pled guilty to an information charging him with five counts of wire fraud and one count of tax evasion in connection with orchestrating a $21… Read More
Football Player Merrill Robertson Jr. Charged with Running a $10 Million Fraud
On August 10, 2016 the Securities and Exchange Commission (“SEC”) charged Merrill Robertson Jr., a former player for the Philadelphia Eagles, with defrauding investors, including former coaches he knew from his time playing football for the Fork Union… Read More
Cardiologist Dr. Edward Kosinski Charged with Insider Trading
On August 4, 2016 the Securities and Exchange Commission (“SEC”) charged a cardiologist with insider trading on confidential developments as he worked on a clinical drug trial. The SEC alleges that Dr. Edward Kosinski of Weston, Connecticut, traded… Read More
Posted by Brenda Hamilton – Sandy Winick Sentenced
Posted by Brenda Hamilton. On August 17, 2016, Penny Stock Fraudster, Sandy Winick, a Canadian, was sentenced To 78 Months In prison for masterminding the international fraud scheme. Winick was sentenced to 78 months in prison following his July… Read More
Leonid Momotok Pleads Guilty to Conspiracy to Commit Wire Fraud
On August 2, 2016, Leonid Momotok of Suwanee, Georgia pled guilty before United States Magistrate Judge Ramon E. Reyes, Jr. in United States District Court for the Eastern District of New York to one count of conspiracy to… Read More
Court Enters Final Judgment Against Kenneth Rampino for Insider Trading
The Securities and Exchange Commission (SEC) announced that the federal district court in Rhode Island has entered a final judgment against Kenneth Rampino, a resident of Seekonk, Massachusetts and a practicing attorney, ordering him to pay approximately $39,000… Read More
Court Finds Jeffry and Paul Downey and John Leonard Guilty of Oil and Gas Fraud
On July 25, the Honorable Sam R. Cummings of the United States District Court for the Northern District of Texas granted summary judgment for the SEC on all claims against the father-and-son duo of Paul and Jeffry Downey,… Read More
Three Fraudsters on a Shopping Spree Met with an Asset Freeze
On July 28, 2016 the Securities and Exchange Commission (“SEC”) announced an asset freeze it has obtained against three men who aren’t registered to sell investments and allegedly went on lavish shopping sprees with more than $5 million raised from… Read More
SEC Charges the Luca Entities with Eb-5 Investment Fraud
On July 26, 2016, the Honorable Charles R. Breyer of the United States District Court for the Northern District of California entered a final judgment against Luca International Group, LLC, Luca Resources Group, LLC, Luca Energy Fund, LLC… Read More
