Securities & Forensic Lawyers https://www.securitieslawyer101.com Forensic Lawyers l Securities Attorneys Wed, 13 Jun 2018 18:37:14 +0000 en-US hourly 1 https://wordpress.org/?v=4.8.6 Regulation A+ Q&A https://www.securitieslawyer101.com/2018/regulation-a-qa/ Wed, 13 Jun 2018 18:35:49 +0000 https://www.securitieslawyer101.com/?p=37581 Going Public Lawyer

Regulation A+ expands existing Regulation A. Existing Regulation A provides an existing exemption from registration for smaller issuers of securities. Regulation A+ offerings can be used in combination with direct public offerings and initial public offerings as part of a Going Public Transaction allowing the issuer to avoid the risks... Read More

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Investment Banker in Insider Trading Scheme https://www.securitieslawyer101.com/2018/investment-banker-in-insider-trading-scheme/ Tue, 12 Jun 2018 12:12:12 +0000 https://www.securitieslawyer101.com/?p=37554 Going Public Lawyer

According to the SEC, Woojae “Steve” Jung, an investment banker at Goldman Sachs, used confidential client information to trade in the securities of 12 different companies prior to the announcement of market-changing events. He used his access to... Read More

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Steven Pagartanis Charged for Defrauding Customers https://www.securitieslawyer101.com/2018/steven-pagartanis-charged-defraud-customers/ Tue, 12 Jun 2018 12:09:36 +0000 https://www.securitieslawyer101.com/?p=37547 Going Public Lawyer

On May 30, 2018, the Securities and Exchange Commission (“SEC”) charged a former Long Island registered representative with defrauding long-standing brokerage customers in an $8 million investment scam. According to the SEC, Steven Pagartanis, who was an associate with... Read More

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Form S-1 Filing Requirements, Filing Form S-1, S-1 Offering, S-1 … https://www.securitieslawyer101.com/2018/form-s-1-filing-requirements-filing-form-s-1-s-1-offering-s-1/ Fri, 08 Jun 2018 19:18:32 +0000 https://www.securitieslawyer101.com/?p=37278 Going Public Lawyer

Private companies often file a registration statement on SEC Form S-1 in connection with their going public transaction.  The most commonly used registration statement form is Form S-1. All companies qualify to register securities on a Form S-1 registration statement. Private companies going public should... Read More

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Constellation Healthcare Technologies Executives Charged with Fraud https://www.securitieslawyer101.com/2018/constellation-healthcare-technologies-executives-charged-with-fraud/ Wed, 06 Jun 2018 20:43:16 +0000 https://www.securitieslawyer101.com/?p=37524 Going Public Lawyer

On May 16th, 2018, the Securities and Exchange Commission (“SEC”) charged three former executives for Constellation Healthcare Technologies Inc. (Constellation), a Houston- based company, who falsified financial and other information they provided to a private firm while negotiating... Read More

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Chardan Capital Charged by SEC https://www.securitieslawyer101.com/2018/chardan-capital-charged-by-sec/ Wed, 06 Jun 2018 12:30:25 +0000 https://www.securitieslawyer101.com/?p=37519 Going Public Lawyer

On May 16, 2018, the Securities and Exchange Commission (“SEC”) charged Chardan Capital Markets LLC (Chardan Capital) and Industrial and Commercial Bank of China Financial Services LLC (ICBCFS), a New York City based brokerage firm, alleging the report... Read More

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SEC Charges Gregory Bercowy with Market Manipulation Scheme https://www.securitieslawyer101.com/2018/sec-charges-gregory-bercowy-market-manipulation-scheme/ Tue, 05 Jun 2018 19:15:07 +0000 https://www.securitieslawyer101.com/?p=37320 Going Public Lawyer

On April 4, 2018, the Securities and Exchange Commission today charged Gregory Bercowy with a fraudulent scheme to manipulate the stock price of Aureus, Inc., a penny stock company incorporated in Nevada. The SEC alleges that between August... Read More

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SEC Charges Andrew Kandelapas in Penny Stock Fraud Scheme https://www.securitieslawyer101.com/2018/sec-charges-andrew-kandelapas-penny-stock-fraud-scheme/ Sun, 03 Jun 2018 19:08:08 +0000 https://www.securitieslawyer101.com/?p=37291 Going Public Lawyer

On April 13, 2018, the Securities and Exchange Commission charged Andrew Kandelapas with making false and misleading statements in the company’s SEC filings and press releases and with manipulating the company’s stock. The SEC’s complaint against Andrew Kandalepas,... Read More

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John Milne Sentenced to Two Years Imprisonment for Failing to Pay Millions to SEC https://www.securitieslawyer101.com/2018/john-milne-sentenced-two-years-imprisonment-failing-pay-millions-disgorgement-sec/ Fri, 01 Jun 2018 19:03:31 +0000 https://www.securitieslawyer101.com/?p=37289 Going Public Lawyer

On April 17, 2018, a federal district court sentenced the John Milne to two years imprisonment for violating the conditions of his supervised release by failing to pay court-ordered disgorgement in a civil action brought by the Securities... Read More

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SEC Charges Clifton Stanley in Multimillion Dollar Ponzi Scheme Targeting Seniors https://www.securitieslawyer101.com/2018/sec-charges-clifton-e-stanley-in-multimillion-dollar-ponzi-scheme-targeting-seniors/ Mon, 28 May 2018 18:38:43 +0000 https://www.securitieslawyer101.com/?p=37296 Going Public Lawyer

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

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Capital Cove Bancorp LLC and Christopher Lee aka Rashid Khalfani Charged with Defrauding Investors to Pay Over $3.8 Million https://www.securitieslawyer101.com/2018/capital-cove-bancorp-llc-christopher-lee-aka-rashid-khalfani-charged-defrauding-investors-pay-3-8-million/ Fri, 25 May 2018 18:43:51 +0000 https://www.securitieslawyer101.com/?p=37293 Going Public Lawyer

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

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SEC Charges Saverio Barbera with Insider Trading https://www.securitieslawyer101.com/2018/sec-charges-saverio-barbera-insider-trading/ Tue, 22 May 2018 18:34:42 +0000 https://www.securitieslawyer101.com/?p=37298 Going Public Lawyer

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

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SEC Obtains Final Judgment Against Merrill Robertson Charged With Running $10 Million Fraud https://www.securitieslawyer101.com/2018/sec-obtains-final-judgment-merrill-robertson-charged-running-10-million-fraud/ Sun, 20 May 2018 18:30:31 +0000 https://www.securitieslawyer101.com/?p=37300 Going Public Lawyer

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

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SEC Charges John Jumper with Stealing Millions from a Pension Plan https://www.securitieslawyer101.com/2018/sec-charges-john-jumper-stealing-millions-pension-plan/ Fri, 18 May 2018 18:29:06 +0000 https://www.securitieslawyer101.com/?p=37287 Going Public Lawyer

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

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Shane Fleming Charged with Insider Trading https://www.securitieslawyer101.com/2018/shane-fleming-charged-insider-trading/ Wed, 16 May 2018 18:26:20 +0000 https://www.securitieslawyer101.com/?p=37310 Going Public Lawyer

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

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SEC Charges Michael Scronic with Engaging in Ponzi-like Scheme https://www.securitieslawyer101.com/2018/sec-charges-michael-scronic-engaging-ponzi-like-scheme/ Mon, 14 May 2018 18:18:20 +0000 https://www.securitieslawyer101.com/?p=37313 Going Public Lawyer

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

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SEC Charges Michael Liberty with Fraudulent Scheme to Defraud Investors and Misappropriate Funds https://www.securitieslawyer101.com/2018/sec-charges-michael-liberty-fraudulent-scheme-defraud-investors-misappropriate-funds/ Sat, 12 May 2018 18:10:14 +0000 https://www.securitieslawyer101.com/?p=37317 Going Public Lawyer

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

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Operation Shell Expel in Retrospect https://www.securitieslawyer101.com/2018/operation-shell-expel-in-retrospect/ Thu, 10 May 2018 20:59:46 +0000 https://www.securitieslawyer101.com/?p=37466 Going Public Lawyer

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

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Court Grants Summary Judgment Motion against Iftikar Ahmed https://www.securitieslawyer101.com/2018/court-grants-summary-judgment-motion-iftikar-ahmed/ Thu, 10 May 2018 18:04:45 +0000 https://www.securitieslawyer101.com/?p=37323 Going Public Lawyer

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

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Regulation A+ Offering Disclosures – Regulation A+ Law Firm- Going Public Lawyers https://www.securitieslawyer101.com/2018/regulation-a-offering-disclosures-regulation-a-law-firm-going-public-lawyers/ Wed, 09 May 2018 15:34:52 +0000 https://www.securitieslawyer101.com/?p=37436 Going Public Lawyer

Regulation A+ expands existing Regulation A. Existing Regulation A provides an existing exemption from registration for smaller issuers of securities. Regulation A+ offerings can be used in combination with direct public offerings and initial public offerings as part of a GoingPublic Transaction. Regulation A+ simplifies the process of obtaining the seed stockholders required... Read More

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SEC Charges Amrit Chahal with Fraud https://www.securitieslawyer101.com/2018/sec-charges-amrit-chahal-fraud/ Tue, 08 May 2018 17:49:56 +0000 https://www.securitieslawyer101.com/?p=37326 Going Public Lawyer

On April 16, 2018, the Securities and Exchange Commission charged Amrit Chahal with orchestrating an investment scheme over several years. The SEC’s complaint alleges that, from at least February 2015, Amrit Chahal, of Fairfax, Va., used his company,... Read More

Going Public Lawyer

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SEC Detects William Gennity and Rocco Roveccio Defrauding Customers https://www.securitieslawyer101.com/2018/sec-detects-william-gennity-rocco-roveccio-defrauding-customers/ Sun, 06 May 2018 17:41:49 +0000 https://www.securitieslawyer101.com/?p=37335 Going Public Lawyer

On September 28, 2017, the Securities and Exchange Commission charged William Gennity and Rocco Roveccio with making unsuitable recommendations that resulted in substantial losses to customers and hefty commissions for the brokers. One of the brokers agreed to... Read More

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Christopher Lollar Settles Charges of Insider Trading Ahead of Oil Discovery Announcement https://www.securitieslawyer101.com/2018/christopher-lollar-settles-charges-insider-trading-ahead-oil-discovery-announcement/ Fri, 04 May 2018 17:36:55 +0000 https://www.securitieslawyer101.com/?p=37308 Going Public Lawyer

On April 4, 2018, Christopher Lollar has agreed to settle SEC charges that he conducted insider trading ahead of a market-moving announcement about the company’s discovery of a significant new oil source. The SEC alleges in its complaint,... Read More

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Going Public Bootcamp – Going Public Attorneys – Securities Lawyer 101 https://www.securitieslawyer101.com/2018/going-public-lawyer-bootcamp-2/ Thu, 03 May 2018 18:48:20 +0000 https://www.securitieslawyer101.com/?p=37420 Going Public Lawyer

  The going public process involves a number of steps that vary depending on the characteristics of the private company wishing to go public, and whether it will become a Securities and Exchange Commission (“SEC”) reporting company. Companies... Read More

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SEC Obtains Final Judgment Against Vincent Cassano Charged with Fraudulent Stock Promotion Scheme https://www.securitieslawyer101.com/2018/sec-obtains-final-judgment-vincent-cassano-charged-fraudulent-stock-promotion-scheme/ Wed, 02 May 2018 17:33:43 +0000 https://www.securitieslawyer101.com/?p=37330 Going Public Lawyer

On April 10, 2018, the U.S. District Court for the Western District of Washington entered a final judgment against Vincent Cassano for his role in a fraudulent stock promotion scheme. According to the SEC’s complaint, Lidingo Holdings, LLC hired... Read More

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Cannabis Law Trends https://www.securitieslawyer101.com/2018/cannabis-law-trends/ Wed, 02 May 2018 13:51:54 +0000 https://www.securitieslawyer101.com/?p=37413 Going Public Lawyer

Author: Mitchell Collins Laws regarding the growing, selling and using of cannabis have been trending toward decriminalization and legalization for years, but the path to full legalization has been long and winding. The subject of cannabis is complicated... Read More

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JH Darbie Charged in Calissio Resources Scam – Securities Lawyer 101 https://www.securitieslawyer101.com/2018/jh-darbie-charged-calissio-resources-scam/ Tue, 01 May 2018 14:20:25 +0000 https://www.securitieslawyer101.com/?p=37403 Going Public Lawyer

    On March 27, 2018, the Securities and Exchange Commission (SEC) announced a settled administrative proceeding against broker-dealer J.H. Darbie & Co., Inc., and Robert Y. Rabinowitz, Darbie’s majority owner and CEO.  On its surface, the suit... Read More

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William Schantz and Verto Capital Management LLC Settle Claims for Additional Investments in Scheme Involving Life Settlements https://www.securitieslawyer101.com/2018/william-schantz-verto-capital-management-llc-settle-claims-additional-investments-scheme-involving-life-settlements/ Mon, 30 Apr 2018 17:29:21 +0000 https://www.securitieslawyer101.com/?p=37302 Going Public Lawyer

On February 27, 2018, the United States District Court for the District of New Jersey entered an amended judgment against Verto Capital Management LLC and William Schantz, of Moorestown, New Jersey. Verto Capital Management LLC and William Schantz... Read More

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SEC Charges Charlie Chen and Shui Foon Mok in Multi-Year Trading Scheme https://www.securitieslawyer101.com/2018/sec-charges-charlie-chen-shui-foon-mok-multi-year-trading-scheme/ Sat, 28 Apr 2018 17:19:45 +0000 https://www.securitieslawyer101.com/?p=37304 Going Public Lawyer

On April 5, 2018, The Securities and Exchange Commission charged Charlie Chen for making an extraordinarily profitable series of unlawful trades in the securities of Massachusetts-based VistaPrint, N.V. According to the SEC’s complaint, Charlie Chen used private information... Read More

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Mohammed Rashid Charged With Secretly Billing Clients for His Vacations and Salon Visits https://www.securitieslawyer101.com/2018/mohammed-rashid-charged-secretly-billing-clients-vacations-salon-visits/ Thu, 26 Apr 2018 17:17:04 +0000 https://www.securitieslawyer101.com/?p=37315 Going Public Lawyer

On October 25, 2017, the Securities and Exchange Commission charged Mohammed Rashid, a former senior partner at Apollo Management L.P., with defrauding his fund clients by secretly billing them for approximately $290,000 in personal expenditures, including his family... Read More

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Who Is Eligible for Regulation A + Offerings? Posted by Brenda Hamilton, Securities Lawyer https://www.securitieslawyer101.com/2018/37269/ Wed, 11 Apr 2018 11:39:10 +0000 https://www.securitieslawyer101.com/?p=37269 Going Public Lawyer

A correctly designed Regulation A Offering Program can minimize your financial risk and significantly enhance your ability to raise money, but not how you may think.  Both issuers and selling shareholders can benefit from Regulation A+.  A few... Read More

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What is a NYSE Control Company Anyway? NYSE Attorneys https://www.securitieslawyer101.com/2018/nyse-control-company-anyway-nyse-attorneys/ Wed, 04 Apr 2018 19:53:07 +0000 https://www.securitieslawyer101.com/?p=37252 Going Public Lawyer

Public Companies that qualify as a “Controlled Company” with securities listed on the Nasdaq Stock Market (NASDAQ) or the New York Stock Exchange (NYSE), must comply with the exchange’s continued listing standards to maintain their listings. Nasdaq and the NYSE have adopted... Read More

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Regulation A+ -v- Form S-1 Registration By: Regulation A Attorneys https://www.securitieslawyer101.com/2018/regulation-a-attorneys-securities-going-public-lawyers/ Wed, 04 Apr 2018 14:08:38 +0000 https://www.securitieslawyer101.com/?p=37258 Going Public Lawyer

Almost three years ago, the SEC radically changed Regulation A for smaller companies desiring to raise money by going public.  This seismic shift is called Regulation A+.  In this blog post, we will explain how new Regulation A+... Read More

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SEC Charges Marc Tager and Jersey Consulting with Defrauding Investors in “Soil Remediation” Scam https://www.securitieslawyer101.com/2018/sec-charges-company-individuals-defrauding-investors-soil-remediation-scam/ Wed, 04 Apr 2018 13:00:43 +0000 https://www.securitieslawyer101.com/?p=37191 Going Public Lawyer

The Securities and Exchange Commission announced charges against Marc Andrew Tager and Jersey Consulting LLC, a Utah-based company and several solicitors of the company’s securities in an ongoing offering fraud that has already targeted more than 80 individual... Read More

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SEC Charges Beaufort Securities for Manipulative Trading in Microcap Penny Stocks https://www.securitieslawyer101.com/2018/sec-charges-u-k-brokerage-firm-investment-manager-ceo-others-manipulative-trading-u-s-microcap-stocks/ Tue, 03 Apr 2018 13:00:40 +0000 https://www.securitieslawyer101.com/?p=37189 Going Public Lawyer

On March 2, 2018, the Securities and Exchange Commission The SEC announced securities fraud charges against Beaufort Securities, a U.K.-based broker-dealer and its investment manager in connection with manipulative trading in the securities a U.S.-based microcap issuer.  The... Read More

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Americrude Charged by SEC – Posted by Brenda Hamilton, Securities Attorney https://www.securitieslawyer101.com/2018/securities-exchange-commission-v-americrude/ Mon, 02 Apr 2018 13:00:26 +0000 https://www.securitieslawyer101.com/?p=37187 Going Public Lawyer

On March 8, 2018, the Securities and Exchange Commission charged Americrude, Inc. a Dallas-based oil-and-gas company and two of its executives with defrauding investors out of at least $950,000 through a string of fraudulent oil-and-gas securities offerings. The... Read More

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SEC Charges Elizabeth Holmes and Theranos Inc – Securities Lawyers https://www.securitieslawyer101.com/2018/securities-exchange-commission-v-elizabeth-holmes/ Sun, 01 Apr 2018 13:00:44 +0000 https://www.securitieslawyer101.com/?p=37185 Going Public Lawyer

On March 14, 2018, the Securities and Exchange Commission charged Elizabeth Holmes and  Silicon Valley-based private company Theranos Inc., with raising more than $700 million from investors through an elaborate, years-long fraud scheme in which they exaggerated or made... Read More

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SEC Charges Jon E. Montroll and Bitfunder with Bitcoin Fraud https://www.securitieslawyer101.com/2018/sec-charges-former-bitcoin-denominated-exchange-operator-fraud/ Sat, 31 Mar 2018 14:00:32 +0000 https://www.securitieslawyer101.com/?p=37181 Going Public Lawyer

On February 21, 2018, the Securities and Exchange Commission charged a former bitcoin-denominated platform known as BitFunder and its operator with operating an unregistered securities exchange and defrauding users of that Bitcoin exchange. The SEC also charged the... Read More

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SEC Charges Niket Shah and Spark Trading for Targeting Retail Investors https://www.securitieslawyer101.com/2018/sec-stops-ponzi-schemer-targeting-retail-investors-obtains-preliminary-injunction-asset-freeze/ Fri, 30 Mar 2018 14:00:01 +0000 https://www.securitieslawyer101.com/?p=37176 Going Public Lawyer

On March 23rd the Securities and Exchange Commission announced charges and a preliminary injunction and asset freeze against Niket Shah, a New Jersey resident who it alleges stole more than $250,000 in a Ponzi scheme in which his... Read More

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EDGAR Filer, Robert W. Murray Sentenced to Two Years in Fitbit Stock Manipulation Scheme https://www.securitieslawyer101.com/2018/false-edgar-filer-sentenced-two-years-prison-fitbit-manipulation-scheme/ Thu, 29 Mar 2018 14:00:02 +0000 https://www.securitieslawyer101.com/?p=37173 Going Public Lawyer

On March 9, 2018,  Robert W. Murray was sentenced to two years imprisonment in connection with a scheme to manipulate Fitbit securities through false filings on the SEC’s EDGAR system. Murray pled guilty on November 7, 2017. The criminal charges... Read More

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SEC Charges McKinley Mortgage with Scheme to Defraud – Posted by Brenda Hamilton https://www.securitieslawyer101.com/2018/sec-charges-operators-private-real-estate-fund-scheme-defraud-retail-investors/ Wed, 28 Mar 2018 14:00:48 +0000 https://www.securitieslawyer101.com/?p=37168 Going Public Lawyer

One March 22nd the Securities and Exchange Commission announced settled charges against McKinley Mortgage, the operators of a real estate investment business who engaged in a years-long scheme to bilk hundreds of investors – including many retail investors... Read More

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Court Orders Former F-Squared CEO to Pay Over $13 Million https://www.securitieslawyer101.com/2018/court-orders-former-f-squared-ceo-pay-13-million/ Tue, 27 Mar 2018 14:00:37 +0000 https://www.securitieslawyer101.com/?p=37166 Going Public Lawyer

A federal judge has ordered the co-founder and former CEO of investment management firm F-Squared Investments to pay over $13 million after a federal jury found him liable for making false and misleading statements to investors as the public face... Read More

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Robert Magee and Valor Capital Asset Management Settle Fraudulent Cherry-Picking Scheme Charges https://www.securitieslawyer101.com/2018/investment-adviser-settles-charges-cheating-clients-fraudulent-cherry-picking-scheme/ Mon, 26 Mar 2018 14:00:02 +0000 https://www.securitieslawyer101.com/?p=37164 Going Public Lawyer

On March 8th the Securities and Exchange Commission announced settled charges against Robert Mark Magee, who is the principal, sole owner, and sole employee of Valor Capital Asset Management LLC, an Austin, Texas-based investment adviser for defrauding his... Read More

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SEC Charges Robert Ritch in Penny Stock Plan to Pump Stock https://www.securitieslawyer101.com/2018/sec-foils-penny-stock-executives-plan-pump-stock-exploit-investors/ Sun, 25 Mar 2018 14:00:37 +0000 https://www.securitieslawyer101.com/?p=37162 Going Public Lawyer

On March 9th the Securities and Exchange Commission barred Tobert Ritch, the president of a penny stock company from ever again serving as a public company officer or director after he was caught making false and misleading statements... Read More

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SEC Charges Brian Sodi, the Penny Stock “Mailman” With Scalping Investors In Gold Mining Stocks https://www.securitieslawyer101.com/2018/sec-charges-penny-stock-mailman-scalping-investors-gold-mining-stocks/ Fri, 23 Mar 2018 17:17:43 +0000 https://www.securitieslawyer101.com/?p=37155 Going Public Lawyer

The Securities and Exchange Commission has charged Brian Sodi, a penny stock promoter based in Florida with defrauding investors in a pair of gold mining stocks by secretly amassing shares before touting the companies publicly.  He allegedly sold... Read More

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Electronic Transaction Clearing -ETC- Charged With Repeatedly Putting Customer Assets At Risk https://www.securitieslawyer101.com/2018/broker-charged-repeatedly-putting-customer-assets-risk/ Fri, 23 Mar 2018 14:00:01 +0000 https://www.securitieslawyer101.com/?p=37160 Going Public Lawyer

On March 19th the Securities and Exchange Commission announced that Electronic Transaction Clearing (ETC), a registered broker-dealer headquartered in Los Angeles, has agreed to settle charges that it illegally placed more than $25 million of customers’ securities at risk... Read More

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Foreign Affiliates of KPMG, Deloitte, BDO Charged in Improper Audits https://www.securitieslawyer101.com/2018/foreign-affiliates-kpmg-deloitte-bdo-charged-improper-audits/ Mon, 19 Mar 2018 15:43:58 +0000 https://www.securitieslawyer101.com/?p=37151 Going Public Lawyer

On March 13th the Securities and Exchange Commission charged foreign affiliates of KPMG, Deloitte & Touche, and BDO for their involvement in audit work that circumvented the full oversight of the Public Company Accounting Oversight Board (PCAOB). The... Read More

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Former Equifax Executive, Jun Ying Charged With Insider Trading https://www.securitieslawyer101.com/2018/former-equifax-executive-charged-insider-trading/ Mon, 19 Mar 2018 15:07:44 +0000 https://www.securitieslawyer101.com/?p=37147 Going Public Lawyer

On March 14th the Securities and Exchange Commission charged Jun Ying, a former chief information officer of a U.S. business unit of Equifax with insider trading in advance of the company’s September 2017 announcement about a massive data... Read More

Going Public Lawyer

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What is a Direct Public Offering? Going Public Attorneys https://www.securitieslawyer101.com/2018/direct-public-offering-going-public-attorneys/ Mon, 19 Mar 2018 14:16:52 +0000 https://www.securitieslawyer101.com/?p=37140 Going Public Lawyer

Most small private companies are unable to find an underwriter prior to going public.  A direct public offering (“Direct Public Offering”) provides a viable solution to these companies. Using a Direct Public Offering  can allow the company to sell its shares... Read More

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SEC Proposes Targeted Changes to Public Liquidity Risk Management Disclosure https://www.securitieslawyer101.com/2018/sec-proposes-targeted-changes-public-liquidity-risk-management-disclosure/ Mon, 19 Mar 2018 13:13:47 +0000 https://www.securitieslawyer101.com/?p=37134 Going Public Lawyer

On March 14, 2018, the Securities and Exchange Commission proposed amendments to public liquidity risk related disclosure requirements for certain open-end investment management companies.  Under the proposal, funds would discuss in their annual report the operation and effectiveness... Read More

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SEC Files Action Against Ariel Quiros & Jay Peak Resort https://www.securitieslawyer101.com/2018/37127/ Mon, 12 Feb 2018 15:21:53 +0000 https://www.securitieslawyer101.com/?p=37127 Going Public Lawyer

According to an SEC complaint filed in 2016 in federal court in Miami, Ariel Quiros allegedly misused more than $50 million in investor funds to purchase a different ski resort and to fund personal expenses such as income taxes and... Read More

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SEC Suspends Penny Stock Issuers-Posted by Brenda Hamilton https://www.securitieslawyer101.com/2018/penny-stock/ Sat, 13 Jan 2018 17:13:52 +0000 https://www.securitieslawyer101.com/?p=37100 Going Public Lawyer

On January 9, 2018, the U.S. Securities and Exchange Commission (“SEC”) announced the temporary suspension of trading in the securities of three penny stock issuers: Blacksands Petroleum, Inc. (BSPE), China Education Alliance, Inc. (CEAI), DoMark International, Inc. (DOMK), and... Read More

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SEC Charges Operators of $1.2 Billion Ponzi Scheme Targeting Main Street Investors https://www.securitieslawyer101.com/2018/sec-charges-operators-1-2-billion-ponzi-scheme-targeting-main-street-investors/ Fri, 12 Jan 2018 17:09:39 +0000 https://www.securitieslawyer101.com/?p=37095 Going Public Lawyer

Last month, the Securities and Exchange Commission (“SEC”) announced charges and an asset freeze involving a Boca Raton Ponzi Scheme.  The SEC alleges that the operators  of the fund bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme. SEC... Read More

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Calissio Resources – A Special Dividend by Any Other Name https://www.securitieslawyer101.com/2017/calissio-resources-cor-clearing/ Tue, 12 Dec 2017 13:23:27 +0000 https://www.securitieslawyer101.com/?p=37080 Going Public Lawyer

More than two years ago, we published the first in a series of articles about problems surrounding the declaration and payment of a special dividend by penny stock issuer, Calissio Resources Group, Inc. (CRGP).  We followed up with... Read More

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Ibrahim Almagarby and Microcap Equity Group LLC Charged by SEC https://www.securitieslawyer101.com/2017/ibrahim-almagarby/ Fri, 01 Dec 2017 15:22:11 +0000 https://www.securitieslawyer101.com/?p=37068 Going Public Lawyer

The Securities and Exchange Commission charged Ibrahim Almagarby and his company with acting as unregistered dealers in the sale of billions of shares of numerous penny stock issuers. The SEC’s complaint, filed in federal district court in south... Read More

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John Venditto and Oyster Bay Charged by SEC https://www.securitieslawyer101.com/2017/john-venditto-oyster-bay-charged-sec/ Wed, 29 Nov 2017 19:14:37 +0000 https://www.securitieslawyer101.com/?p=37064 Going Public Lawyer

On November 21, 2017, the Securities and Exchange Commission (“SEC”) announced Oyster Bay, New York, and its former top elected official with defrauding investors in the town’s municipal securities offerings by hiding the existence and potential financial impact... Read More

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SEC Announces Agenda and Panelists for Small Business Forum https://www.securitieslawyer101.com/2017/sec-announces-agenda-panelists-36th-annual-small-business-forum/ Mon, 27 Nov 2017 19:09:06 +0000 https://www.securitieslawyer101.com/?p=37060 Going Public Lawyer

On November 20, 2017, the Securities and Exchange Commission (“SEC”) announced the agenda and panelists for the 36th Annual Government-Business Forum on Small Business Capital Formation. The November 30 Small Business event will begin at 9 a.m. Central... Read More

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SEC Names Paul Cellupica as Deputy Director https://www.securitieslawyer101.com/2017/sec-names-paul-g-cellupica-deputy-director/ Fri, 24 Nov 2017 15:00:46 +0000 https://www.securitieslawyer101.com/?p=37057 Going Public Lawyer

On November 20, 2017, the Securities and Exchange Commission (“SEC”) announced that Paul G. Cellupica has been named Deputy Director of the agency’s Division of Investment Management.  Mr. Cellupica will oversee a number of the division’s strategic, rulemaking,... Read More

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Randall James Settles Fraud Charges https://www.securitieslawyer101.com/2017/randall-james-settles-fraud-charges/ Wed, 08 Nov 2017 15:00:32 +0000 https://www.securitieslawyer101.com/?p=37049 Going Public Lawyer

On October 27, 2017, Randall James, Nashville, Tennessee resident, who isn’t registered to sell investments, has agreed to settle charges that he defrauded investors in his company Global Maximus Productions, which purportedly produced pay-per-view entertainment and concerts. The SEC... Read More

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Osiris Therapeutics Charged With Accounting Fraud https://www.securitieslawyer101.com/2017/osiris-therapeutics-charged-accounting-fraud/ Mon, 06 Nov 2017 15:00:36 +0000 https://www.securitieslawyer101.com/?p=37052 Going Public Lawyer

On November 2, 2017, the Securities and Exchange Commission (“SEC”) charged Osiris Therapeutics, a Maryland-based biotech company, and four former top executives with prioritizing revenue growth over lawful accounting and misleading investors in the process. The SEC alleges... Read More

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SEC Files Subpoena Enforcement Action against Wynn Gustafson https://www.securitieslawyer101.com/2017/sec-subpoena-enforcement-wynn-gustafson/ Sat, 04 Nov 2017 14:00:20 +0000 https://www.securitieslawyer101.com/?p=37042 Going Public Lawyer

On October 31, 2017, the Securities and Exchange Commission (“SEC”) announced that the SEC filed an action to enforce compliance with a document subpoena issued and served upon Wynn Gustafson in an SEC investigation captioned In the Matter of... Read More

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Thomas Buck Settles Charges https://www.securitieslawyer101.com/2017/thomas-buck-settles-charges/ Fri, 03 Nov 2017 14:00:47 +0000 https://www.securitieslawyer101.com/?p=37046 Going Public Lawyer

On October 31, 2017, Thomas Buck, former Merrill Lynch broker, has agreed to pay more than $5 million to settle SEC charges that he fraudulently schemed to increase his personal income by obtaining excessive commissions and fees from... Read More

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JustInfo LLC Charged for a Futures Trading Scheme https://www.securitieslawyer101.com/2017/justinfo-charged-futures-trading-scheme/ Sat, 21 Oct 2017 14:00:12 +0000 https://www.securitieslawyer101.com/?p=37039 Going Public Lawyer

On October 11, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against JustInfo LLC, a Kentucky-based entity, a California-based tax preparer who solicited investors on behalf of the entity, and the entity’s majority owner, for lying to... Read More

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John Rogicki Charged with Stealing $9 Million https://www.securitieslawyer101.com/2017/john-rogicki-charged-stealing-9-million/ Fri, 20 Oct 2017 14:00:56 +0000 https://www.securitieslawyer101.com/?p=37036 Going Public Lawyer

On October 19, 2017, the U.S. Securities and Exchange Commission (“SEC”) charged John Rogicki, a New York-based investment adviser, with defrauding a non-profit charitable foundation out of $9 million. The SEC alleges that John Rogicki, managing director and... Read More

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SEC Charges Attorney Marc Celello https://www.securitieslawyer101.com/2017/sec-charges-attorney-marc-celello/ Thu, 12 Oct 2017 14:00:46 +0000 https://www.securitieslawyer101.com/?p=37033 Going Public Lawyer

On October 5, 2017, the Securities and Exchange Commission (“SEC”) announced that it filed fraud charges against an attorney Marc Celello based on his alleged participation in a Ponzi scheme. The SEC’s complaint, filed in federal court in... Read More

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Richard Cody Indicted for Investment Adviser Fraud and Lying to the SEC https://www.securitieslawyer101.com/2017/richard-cody-indicted-fraud-lying/ Fri, 06 Oct 2017 14:01:09 +0000 https://www.securitieslawyer101.com/?p=37028 Going Public Lawyer

On October 5, 2017, Richard Cody, a former investment adviser and broker representative, whom the Securities and Exchange Commission (“SEC”) has charged with defrauding Massachusetts retirees, has been indicted for deceiving and manipulating his former clients concerning the management of... Read More

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Robert Stewart Receives Final Judgement https://www.securitieslawyer101.com/2017/robert-stewart-receives-final-judgement/ Fri, 29 Sep 2017 14:00:54 +0000 https://www.securitieslawyer101.com/?p=37017 Going Public Lawyer

On September 28, 2017, the Securities and Exchange Commission (“SEC”) obtained a final judgment against Robert Stewart, the former chief financial officer of a technology company and certified public accountant, who was charged, along with his son, with conducting... Read More

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Aegerion Pharmaceuticals Lied About Sales Metrics https://www.securitieslawyer101.com/2017/aegerion-pharmaceuticals-lied-sales/ Mon, 25 Sep 2017 14:00:52 +0000 https://www.securitieslawyer101.com/?p=37011 Going Public Lawyer

On September 22, 2017, the Securities and Exchange Commission (“SEC”) filed fraud charges against Aegerion Pharmaceuticals, a Massachusetts-based bio-pharmaceutical company, that exaggerated how many new patients actually filled prescriptions for an expensive drug that was its sole source of... Read More

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Woodbridge Ordered to Produce Corporate Documents https://www.securitieslawyer101.com/2017/woodbridge-ordered-produce-documents/ Fri, 22 Sep 2017 14:09:11 +0000 https://www.securitieslawyer101.com/?p=37005 Going Public Lawyer

On September 21, 2017, the Securities and Exchange Commission (“SEC”) obtained an order requiring the Woodbridge Group of Companies LLC, of Sherman Oaks, California, to produce the corporate documents of several company executives and employees, including the President and CEO.... Read More

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Peter Chang Charged for Insider Trading https://www.securitieslawyer101.com/2017/peter-chang-charged-insider-trading/ Thu, 21 Sep 2017 14:00:37 +0000 https://www.securitieslawyer101.com/?p=37001 Going Public Lawyer

On September 20, 2017, the Securities and Exchange Commission (“SEC”) charged Peter Chang, the former CEO of a Silicon Valley-based fiber optics company, with insider trading in company stock by using secret brokerage accounts held in the names of... Read More

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Mayank Gupta Settles Insider Trading Charges https://www.securitieslawyer101.com/2017/mayank-gupta/ Mon, 18 Sep 2017 14:00:41 +0000 https://www.securitieslawyer101.com/?p=36998 Going Public Lawyer

On September 13, 2017, the Securities and Exchange Commission (“SEC”) announced that Mayank Gupta, a former auditor, has agreed to settle charges that he tipped his relative with inside information about a client on the verge of a... Read More

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Scott Newsholme Charged with Stealing Investor Funds https://www.securitieslawyer101.com/2017/scott-newsholme-charged-stealing-funds/ Thu, 14 Sep 2017 14:00:11 +0000 https://www.securitieslawyer101.com/?p=36989 Going Public Lawyer

On September 6, 2017, the Securities and Exchange Commission  (“SEC”) charged Scott Newsholme, a New Jersey-based tax preparer and investment adviser, with stealing more than $1 million from clients to support his gambling habit and other personal expenditures. The... Read More

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Louis Navellier Charged for False Performance Claims https://www.securitieslawyer101.com/2017/louis-navellier-false-performance-claims/ Wed, 06 Sep 2017 14:00:23 +0000 https://www.securitieslawyer101.com/?p=36982 Going Public Lawyer

On August 31, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against investment adviser Navellier & Associates, Inc. and its founder and chief investment officer, Louis Navellier. The SEC’s complaint, filed in federal court in Boston,... Read More

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Leon Vaccarelli Charged With Fraud https://www.securitieslawyer101.com/2017/leon-vaccarelli-charged-fraud/ Tue, 05 Sep 2017 14:00:45 +0000 https://www.securitieslawyer101.com/?p=36979 Going Public Lawyer

On August 31, 2017, the Securities and Exchange Commission (“SEC”) charged Connecticut-based broker representative and investment adviser Leon Vaccarelli and his company with fraudulently persuading several elderly customers to invest with him and then spending their money on... Read More

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Celator Pharmaceuticals Employees Charged With Insider Trading https://www.securitieslawyer101.com/2017/celator-employees-insider-trading/ Fri, 01 Sep 2017 14:00:21 +0000 https://www.securitieslawyer101.com/?p=36976 Going Public Lawyer

On August 31, 2017, the Securities and Exchange Commission (“SEC”) charged an accountant and three others with insider trading on market-moving news about Celator Pharmaceuticals, the New Jersey-based pharmaceutical company where the accountant formerly worked. The SEC’s complaint, filed... Read More

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Lek Securities Motion to Dismiss Denied https://www.securitieslawyer101.com/2017/lek-securities-motion-dismiss-denied/ Thu, 31 Aug 2017 14:00:30 +0000 https://www.securitieslawyer101.com/?p=36971 Going Public Lawyer

On August 25, 2017, the Honorable Denise L. Cote of the U.S. District Court for the Southern District of New York denied a motion by Lek Securities Corporation and its Chief Executive Officer, Samuel Lek, to dismiss the... Read More

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Deerfield Management Company Agrees to Settle Charges https://www.securitieslawyer101.com/2017/deerfield-settle-charges/ Wed, 30 Aug 2017 14:00:11 +0000 https://www.securitieslawyer101.com/?p=36968 Going Public Lawyer

On Aug. 21, 2017, the Securities and Exchange Commission (“SEC”) announced that hedge fund advisory firm Deerfield Management Company L.P. has agreed to pay more than $4.6 million to settle charges that it failed to establish, maintain, and... Read More

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Jeremy Drake Charged With Fraud https://www.securitieslawyer101.com/2017/jeremy-drake-charged-fraud/ Tue, 29 Aug 2017 14:00:16 +0000 https://www.securitieslawyer101.com/?p=36963 Going Public Lawyer

On Aug. 22, 2017, the Securities and Exchange Commission (“SEC”) charged investment adviser Jeremy Drake with defrauding two clients, a high profile professional athlete and the athlete’s wife, by deceiving them about the investment advisory fees they were paying. ... Read More

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Beaumont Financing Authority Settles Charges https://www.securitieslawyer101.com/2017/beaumont-financing-authority-settles-charges/ Mon, 28 Aug 2017 14:00:58 +0000 https://www.securitieslawyer101.com/?p=36958 Going Public Lawyer

On Aug. 23, 2017, the Securities and Exchange Commission (“SEC”) announced that Beaumont Financing Authority, a municipal financing authority in Beaumont, California, and its then-executive director have agreed to settle charges that they made false statements about prior compliance... Read More

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Adesh Tyagi Receives Final Judgement https://www.securitieslawyer101.com/2017/adesh-tyagi-receives-final-judgement/ Tue, 22 Aug 2017 14:00:33 +0000 https://www.securitieslawyer101.com/?p=36955 Going Public Lawyer

On August 21, 2017, the Securities and Exchange Commission (“SEC”) has obtained a final judgment against Adesh Tyagi, the former CEO of a penny stock company charged with making false claims in press releases and engaging in manipulative trading in... Read More

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Vergeous LLC, et al. Charged with Offering Fraud https://www.securitieslawyer101.com/2017/vergeous-charged-offering-fraud/ Mon, 21 Aug 2017 14:00:08 +0000 https://www.securitieslawyer101.com/?p=36950 Going Public Lawyer

On August 16, 2017, the Securities and Exchange Commission (“SEC”) announced that Vergeous LLC and Dream Team Partners LLC, two Florida-based video game development companies, and their principal have agreed to pay approximately $293,000 for misleading investors in video game... Read More

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Banca IMI Securities to Pay $35 Million https://www.securitieslawyer101.com/2017/banca-imi-securities-pay-35-million/ Sun, 20 Aug 2017 14:00:07 +0000 https://www.securitieslawyer101.com/?p=36947 Going Public Lawyer

On Aug. 18, 2017, the Securities and Exchange Commission (“SEC”) announced that broker Banca IMI Securities Corp, an indirect, wholly-owned U.S. subsidiary of Italian bank Intesa Sanpaolo SpA, has agreed to pay more than $35 million to settle charges... Read More

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Daniel Rivas Center of Insider Trading Scheme https://www.securitieslawyer101.com/2017/daniel-rivas-insider-trading-scheme/ Sat, 19 Aug 2017 14:00:40 +0000 https://www.securitieslawyer101.com/?p=36944 Going Public Lawyer

On August 16, 2017, the Securities and Exchange Commission (“SEC”) announced insider trading charges against seven individuals, Daniel Rivas being one, who generated millions in profits by trading on confidential information about dozens of impending mergers and acquisitions.  Data... Read More

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KPMG Charged with Audit Failures https://www.securitieslawyer101.com/2017/kpmg-charged-audit-failures/ Fri, 18 Aug 2017 14:00:33 +0000 https://www.securitieslawyer101.com/?p=36940 Going Public Lawyer

On Aug. 15, 2017, the Securities and Exchange Commission (“SEC”) announced that KPMG has agreed to pay more than $6.2 million to settle charges that it failed to properly audit the financial statements of an oil and gas company,... Read More

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DiMaria and Gamsey Receive Final Judgements https://www.securitieslawyer101.com/2017/dimaria-and-gamsey-judgements/ Thu, 17 Aug 2017 14:00:15 +0000 https://www.securitieslawyer101.com/?p=36937 Going Public Lawyer

On August 16, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained final judgments against DiMaria and Gamsey, two former executives of Bankrate Inc. In September 2015, the SEC charged the two executives, Edward DiMaria and... Read More

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Final Judgement Obtained Against Louis Martin Blazer III https://www.securitieslawyer101.com/2017/judgement-obtained-louis-martin-blazer-iii/ Tue, 15 Aug 2017 14:00:23 +0000 https://www.securitieslawyer101.com/?p=36934 Going Public Lawyer

On August 10, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment against Louis Martin Blazer III,  a Pittsburgh, Pa.-based financial adviser, accused of taking money without permission from the accounts of several... Read More

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Thrift Savings Plan Used In Fraud Case https://www.securitieslawyer101.com/2017/thrift-savings-plan-used-fraud-case/ Mon, 07 Aug 2017 14:00:49 +0000 https://www.securitieslawyer101.com/?p=36931 Going Public Lawyer

On July 31, 2017, the Securities and Exchange Commission (“SEC”) charged four former Atlanta-area brokers with fraudulently inducing federal employees to roll over holdings from their federal Thrift Savings Plan (TSP) retirement accounts into higher-fee, variable annuity products. The... Read More

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Charges Announced Against John Thomas Financial https://www.securitieslawyer101.com/2017/charges-john-thomas-financial/ Thu, 03 Aug 2017 14:00:53 +0000 https://www.securitieslawyer101.com/?p=36926 Going Public Lawyer

On August 2, 2017, the Securities and Exchange Commission (“SEC”) announced fraud and other charges against two individuals and John Thomas Financial, a related company, for their roles in a manipulative trading scheme involving Liberty Silver Corp., a... Read More

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Final Judgement Obtained Against Andrew Farmer https://www.securitieslawyer101.com/2017/final-judgement-andrew-farmer/ Wed, 02 Aug 2017 14:00:58 +0000 https://www.securitieslawyer101.com/?p=36923 Going Public Lawyer

On July 24, 2017, the U.S. Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment against Andrew Farmer, whom the SEC charged with orchestrating a pump-and-dump scheme involving a company that purportedly developed revolutionary technology to enable... Read More

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Final Judgement Against Stephen Ferrone https://www.securitieslawyer101.com/2017/final-judgement-stephen-ferrone/ Tue, 01 Aug 2017 14:00:18 +0000 https://www.securitieslawyer101.com/?p=36920 Going Public Lawyer

On July 31, 2017, the Securities and Exchange Commission (“SEC”) announced that on July 28, 2017, an Illinois federal court entered a final judgment against Defendant Stephen Ferrone following an April 2016 jury verdict in the Commission’s favor.... Read More

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SEC Charges Halliburton Company https://www.securitieslawyer101.com/2017/sec-charges-halliburton-company/ Mon, 31 Jul 2017 14:00:33 +0000 https://www.securitieslawyer101.com/?p=36917 Going Public Lawyer

On July 27, 2017, the Securities and Exchange Commission (“SEC”) charged Halliburton Company with violating the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA) while selecting and making payments to a local... Read More

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Medicus Homecare Trading Suspension https://www.securitieslawyer101.com/2017/medicus-homecare-trading-suspension/ Sun, 30 Jul 2017 14:00:44 +0000 https://www.securitieslawyer101.com/?p=36914 Going Public Lawyer

The U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of Medicus Homecare Inc. (MDCR) commencing at 9:30 a.m. EDT on July 28, 2017 and terminating at 11:59 p.m. EDT on August 10,... Read More

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CNK Global Trading Suspension https://www.securitieslawyer101.com/2017/cnk-global-trading-suspension/ Sat, 29 Jul 2017 14:00:39 +0000 https://www.securitieslawyer101.com/?p=36910 Going Public Lawyer

On July 28, 2017, the U.S. Securities and Exchange Commission announced the temporary suspension of trading in the securities of CNK Global, Inc. (a/k/a American Life Holding Co., Inc.) (ALFE) commencing at 9:30 a.m. EDT on July 28,... Read More

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Joey Dodson Charged with Fraud https://www.securitieslawyer101.com/2017/joey-dodson-charged-fraud/ Thu, 27 Jul 2017 14:00:30 +0000 https://www.securitieslawyer101.com/?p=36904 Going Public Lawyer

On July 26, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Joey Dodson, the founder of a collection of businesses known as Citadel Energy, which provided fluid management solutions to the oil and gas industry in... Read More

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Whistleblower Receives $2.5 Million Reward https://www.securitieslawyer101.com/2017/whistleblower-receives-2-5-million/ Wed, 26 Jul 2017 14:00:19 +0000 https://www.securitieslawyer101.com/?p=36901 Going Public Lawyer

On July 25, 2017, the Securities and Exchange Commission (“SEC”) announced an award of nearly $2.5 million to an employee of a domestic government agency whose whistleblower tip helped launch an SEC investigation and whose continued assistance enabled... Read More

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Alanah, Ascenergy and Gabaldon Final Judgement https://www.securitieslawyer101.com/2017/alanah-ascenergy-and-gabaldon-judgement/ Tue, 25 Jul 2017 14:00:01 +0000 https://www.securitieslawyer101.com/?p=36896 Going Public Lawyer

On June 12, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment against Ascenergy LLC, Joseph Gabaldon, and Alanah Energy, LLC. The SEC’s complaint alleges that, since at least 2014, Ascenergy and Gabaldon engaged... Read More

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SEC Files Second Subpoena Against Andrew Coldicutt https://www.securitieslawyer101.com/2017/files-subpoena-andrew-coldicutt/ Mon, 24 Jul 2017 14:00:58 +0000 https://www.securitieslawyer101.com/?p=36891 Going Public Lawyer

On July 21, 2017, the Securities and Exchange Commission (“SEC”) announced that it has filed a subpoena enforcement action against Andrew Coldicutt and the Law Offices of Andrew Coldicutt. According to the SEC’s application and supporting papers, filed... Read More

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Michael Trahan Charged for Insider Trading https://www.securitieslawyer101.com/2017/michael-trahan-charged-insider-trading/ Sun, 23 Jul 2017 14:00:30 +0000 https://www.securitieslawyer101.com/?p=36883 Going Public Lawyer

On June 7, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Michael Trahan for insider trading in the securities of The Shaw Group, Inc. (Shaw), a Louisiana-based energy construction company, ahead of a public announcement that... Read More

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Flowers and Nevett Charged with Fraud https://www.securitieslawyer101.com/2017/flowers-and-nevett-charged-fraud/ Sat, 22 Jul 2017 14:00:19 +0000 https://www.securitieslawyer101.com/?p=36888 Going Public Lawyer

On July 19, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Flowers and Nevett, two California men, and a company behind an alleged scheme to manipulate the stock prices of two shell companies. The SEC alleges... Read More

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SEC Bars David Lubin https://www.securitieslawyer101.com/2017/sec-bars-david-lubin/ Fri, 21 Jul 2017 14:00:58 +0000 https://www.securitieslawyer101.com/?p=36879 Going Public Lawyer

On July 19, 2017, the Securities and Exchange Commission (“SEC”) barred David Lubin, a New York-based attorney, from appearing or practicing before it and acting as an officer or director of a public company after finding that he made... Read More

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Default Judgement on Yu-Cheng Lin Insider Trading Charges https://www.securitieslawyer101.com/2017/judgement-yu-cheng-lin-insider-trading/ Thu, 20 Jul 2017 14:00:32 +0000 https://www.securitieslawyer101.com/?p=36876 Going Public Lawyer

On June 19, 2017, the Securities and Exchange Commission (“SEC”) has obtained a default judgment against foreign defendant, Yu-Cheng Lin, charged with insider trading that orders him to pay approximately $7.3 million. The court’s final judgment, entered on... Read More

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Steven Labriola Receives Final Judgement https://www.securitieslawyer101.com/2017/steven-labriola-receives-final-judgement/ Wed, 19 Jul 2017 14:00:25 +0000 https://www.securitieslawyer101.com/?p=36872 Going Public Lawyer

On July 14, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment in a fraud case against Steven Labriola, the international sales director of a pyramid scheme targeting Latino communities. The final judgment, entered on... Read More

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Final Judgements Entered Against LocatePlus Holdings Officers https://www.securitieslawyer101.com/2017/judgements-locateplus-holdings-officers/ Tue, 18 Jul 2017 14:00:52 +0000 https://www.securitieslawyer101.com/?p=36869 Going Public Lawyer

On June 27, 2017, the Honorable Douglas P. Woodlock of the U.S. District Court for the District of Massachusetts entered final judgments against the former CEO and CFO of LocatePlus Holdings Corp, a Massachusetts-based information technology company. The... Read More

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SEC Announces Fraud Charges Against Diana Lovera https://www.securitieslawyer101.com/2017/sec-announces-fraud-charges-diana-lovera/ Mon, 17 Jul 2017 14:00:04 +0000 https://www.securitieslawyer101.com/?p=36865 Going Public Lawyer

On July 14, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Diana Lovera, the former Chief Operating Officer of a Florida-based penny stock company that falsely claimed to be “the largest publicly traded diversified portfolio... Read More

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Judgement Entered Against James Trolice https://www.securitieslawyer101.com/2017/judgement-entered-james-trolice/ Sun, 16 Jul 2017 14:00:52 +0000 https://www.securitieslawyer101.com/?p=36862 Going Public Lawyer

On June 13, 2017, the Honorable William J. Martini of the United States District Court for the District of New Jersey entered a judgment against defendant James Trolice that imposed permanent injunctions and an officer and director bar.... Read More

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SEC Announces Fraud Charges Against Victory Ho https://www.securitieslawyer101.com/2017/fraud-charges-victory-ho/ Sat, 15 Jul 2017 14:00:37 +0000 https://www.securitieslawyer101.com/?p=36859 Going Public Lawyer

On July 12, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Victory Ho for insider trading in the securities of The Shaw Group, Inc. (Shaw), a Louisiana-based energy construction company, ahead of a public announcement... Read More

Going Public Lawyer

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Charles Banks Charged With Fraud https://www.securitieslawyer101.com/2017/charles-banks-charged-fraud/ Fri, 14 Jul 2017 14:00:53 +0000 https://www.securitieslawyer101.com/?p=36855 Going Public Lawyer

On July 13, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a judgment and industry bar against Charles Banks, an Atlanta-based investment adviser, charged with defrauding a former professional basketball player. According to the SEC’s complaint, Charles... Read More

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Fei Yan Faces Insider Trader Charges https://www.securitieslawyer101.com/2017/fei-yan-faces-insider-trader-charges/ Thu, 13 Jul 2017 14:00:37 +0000 https://www.securitieslawyer101.com/?p=36851 Going Public Lawyer

On July 12, 2017, the Securities and Exchange Commission (“SEC”) announced insider trading charges against Fei Yan, a research scientist, who allegedly searched the internet for “how sec detect unusual trade” before making a trade that the agency flagged... Read More

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SEC Obtains Final Judgement for Ryan Petersen https://www.securitieslawyer101.com/2017/sec-final-judgement-ryan-petersen/ Wed, 12 Jul 2017 14:00:23 +0000 https://www.securitieslawyer101.com/?p=36847 Going Public Lawyer

On July 5, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment against Ryan Petersen, the former chief executive officer of OCZ Technology Group Inc. whom the SEC charged with an accounting... Read More

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SEC Charges K-T 50 Wells With Fraud https://www.securitieslawyer101.com/2017/sec-charges-k-t-50-wells-fraud/ Tue, 11 Jul 2017 14:00:27 +0000 https://www.securitieslawyer101.com/?p=36844 Going Public Lawyer

On July 7, 2017, the Securities and Exchange Commission (“SEC”) announced charges against K-T 50 Wells, a purported oil well company, its founders, and three salespeople in connection with a $2.4 million offering fraud. The SEC’s complaint, filed... Read More

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Judgement Entered Against Edwards https://www.securitieslawyer101.com/2017/judgement-entered-edwards/ Mon, 10 Jul 2017 14:00:39 +0000 https://www.securitieslawyer101.com/?p=36841 Going Public Lawyer

On June 9, 2017, the Honorable Esther Salas of the U.S. District Court for the District of New Jersey entered judgments against Dwayne Edwards, several entities Edwards used to orchestrate his alleged fraud, and relief defendant Sharon Nunamaker.... Read More

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SEC Announces Michael Randles Administrative Proceedings https://www.securitieslawyer101.com/2017/michael-randles-admin-proceedings/ Sat, 08 Jul 2017 14:00:41 +0000 https://www.securitieslawyer101.com/?p=36838 Going Public Lawyer

On June 19, 2017, the Securities and Exchange Commission (“Commission”) deemed it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934... Read More

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Final Judgement on Former InterMune Director and Friend https://www.securitieslawyer101.com/2017/judgement-intermune-director-friend/ Fri, 07 Jul 2017 14:00:45 +0000 https://www.securitieslawyer101.com/?p=36832 Going Public Lawyer

On June 30, 2017, the Securities and Exchange Commission (“SEC”) announced that the Honorable Jacqueline Scott Corley, U.S. Magistrate Judge for the Northern District of California, entered a final judgment as to Sasan Sabrdaran, the former director of drug... Read More

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Cheryl Jones Charged By SEC https://www.securitieslawyer101.com/2017/cheryl-jones-charged-sec/ Thu, 06 Jul 2017 14:00:11 +0000 https://www.securitieslawyer101.com/?p=36829 Going Public Lawyer

On July 3, 2017, the Securities and Exchange Commission (“SEC”) announced charges against Cheryl Jones, a Washington, D.C.-based real estate agent and the sister of convicted Ponzi scheme operator Mark Jones, for selling unregistered securities. The SEC’s complaint,... Read More

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Pilgrim Petroleum CORP Temporary Trading Suspension https://www.securitieslawyer101.com/2017/pilgrim-petroleum-corp-trading-suspension/ Wed, 05 Jul 2017 14:00:57 +0000 https://www.securitieslawyer101.com/?p=36824 Going Public Lawyer

The Securities and Exchange Commission (Commission) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the Exchange Act), of trading in the securities of Pilgrim Petroleum CORP, of Addison, Texas commencing at... Read More

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Renwick Haddow Charged with Fraud https://www.securitieslawyer101.com/2017/renwick-haddow-charged-fraud/ Tue, 04 Jul 2017 14:00:52 +0000 https://www.securitieslawyer101.com/?p=36820 Going Public Lawyer

On June 30, 2017, the Securities and Exchange Commission (“SEC”) filed fraud charges against Renwick Haddow, the clandestine founder of a purported Bitcoin platform and a chain of co-working spaces located in former bars and restaurants, alleging that he... Read More

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SEC Charges Quadrant 4 System Corp https://www.securitieslawyer101.com/2017/sec-charges-quadrant-4-system-corp/ Mon, 03 Jul 2017 14:03:34 +0000 https://www.securitieslawyer101.com/?p=36815 Going Public Lawyer

On June 30, 2017, the Securities and Exchange Commission (“SEC”) has charged Chicago-area information technology company Quadrant 4 System Corp. (QFOR) and two former top executives in an accounting fraud scheme that misled investors and allowed the former... Read More

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SEC Charged Penn West with Accounting Fraud https://www.securitieslawyer101.com/2017/sec-charged-penn-west-accounting-fraud/ Sat, 01 Jul 2017 14:00:12 +0000 https://www.securitieslawyer101.com/?p=36811 Going Public Lawyer

On June 28, 2017, the Securities and Exchange Commission (“SEC”) charged Penn West Petroleum Ltd., a Canadian-based oil and gas company, and three of its former top finance executives for their roles in an extensive, multi-year accounting fraud. The... Read More

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Ibex Trading Temporarily Suspended https://www.securitieslawyer101.com/2017/ibex-trading-temporarily-suspended/ Fri, 30 Jun 2017 14:00:29 +0000 https://www.securitieslawyer101.com/?p=36805 Going Public Lawyer

On June 26, 2017, the Securities and Exchange Commission (“Commission”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities of Ibex Advanced Mortgage Technology,... Read More

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Former Ariad Employees Charged with Insider Trading https://www.securitieslawyer101.com/2017/ariad-employees-insider-trading/ Thu, 29 Jun 2017 14:00:26 +0000 https://www.securitieslawyer101.com/?p=36802 Going Public Lawyer

One June 27, 2017, the Securities and Exchange Commission (“SEC”) announced insider trading charges against two former senior employees and the spouse of a former employee of Ariad Pharmaceuticals, Inc., a company based in Cambridge, Massachusetts engaged in the... Read More

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Form S-1 Registration Statement Quiet Period https://www.securitieslawyer101.com/2017/form-s-1-registration-statement-quiet-period/ Wed, 28 Jun 2017 14:00:44 +0000 https://www.securitieslawyer101.com/?p=36796 Going Public Lawyer

The Securities & Exchange Commission and the federal securities laws do not define the term “quiet period,” which is also referred to as the “waiting period.” However, a quiet period extends from the time a company files a... Read More

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SEC Announces Additional Charges Against Anthony Portelli https://www.securitieslawyer101.com/2017/sec-additional-charges-anthony-portelli/ Tue, 27 Jun 2017 14:00:30 +0000 https://www.securitieslawyer101.com/?p=36795 Going Public Lawyer

On June 22, 2017, the Securities and Exchange Commission (“SEC”) announced additional charges in an enforcement investigation involving Anthony Portelli, a Wall Street firm’s securities lending desk, and the improper handling of American Depositary Receipts (ADRs). The SEC’s order... Read More

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Pazoo, Inc. Used in Artificial Inflation Scheme https://www.securitieslawyer101.com/2017/pazoo-used-inflation-scheme/ Mon, 26 Jun 2017 14:00:02 +0000 https://www.securitieslawyer101.com/?p=36790 Going Public Lawyer

On June 21, 2017, the Securities and Exchange Commission (“SEC”) charged a New Jersey-based group of stock promoters with fraud involving the manipulation and artificial inflation of the share price of a microcap company, Pazoo, Inc. The scheme grossed... Read More

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Seyed Taher Kameli Charged for Defrauding Investors https://www.securitieslawyer101.com/2017/seyed-taher-kameli-defrauding-investors/ Fri, 23 Jun 2017 14:00:36 +0000 https://www.securitieslawyer101.com/?p=36787 Going Public Lawyer

On June 22, 2017, the Securities and Exchange Commission (“SEC”) charged Seyed Taher Kameli, a Chicago-based immigration attorney, with defrauding investors participating in the EB-5 immigrant investor program by improperly commingling and misusing a portion of the approximately $88.7... Read More

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SEC Charges Arista’s CEO and Attorney https://www.securitieslawyer101.com/2017/sec-charges-arista-ceo-attorney/ Thu, 22 Jun 2017 14:00:34 +0000 https://www.securitieslawyer101.com/?p=36784 Going Public Lawyer

On June 20, 2017, the Securities and Exchange Commission (“SEC”) announced charges involving a scheme to disguise the nature of Arista, a public company’s financing amid financial difficulties, and a corresponding manipulation of the price of the company’s... Read More

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Mark Northrop Barred by the SEC https://www.securitieslawyer101.com/2017/mark-northrop-barred-sec/ Wed, 21 Jun 2017 14:00:55 +0000 https://www.securitieslawyer101.com/?p=36781 Going Public Lawyer

On June 19, 2017, the Securities and Exchange Commission (“Commission”) deemed it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 203(f) of the Investment Advisers Act of 1940... Read More

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SEC Takes Action Against Ann Hiskey https://www.securitieslawyer101.com/2017/sec-action-ann-hiskey/ Tue, 20 Jun 2017 14:00:06 +0000 https://www.securitieslawyer101.com/?p=36776 Going Public Lawyer

  On June 19, 2017, the Securities and Exchange Commission (“Commission”) deemed it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of... Read More

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SEC Charges CannaVEST Corp. with Fraud https://www.securitieslawyer101.com/2017/sec-charges-cannavest-corp-fraud/ Mon, 19 Jun 2017 14:00:50 +0000 https://www.securitieslawyer101.com/?p=36773 Going Public Lawyer

On June 16, 2017, the Securities and Exchange Commission (“SEC”) filed fraud charges against CannaVEST Corp., a Las Vegas-based hemp oil company, and its CEO for inflating the company’s assets on its balance sheet. The SEC complaint filed... Read More

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Antonio Katz Pleads Guilty to Criminal Charges https://www.securitieslawyer101.com/2017/antonio-katz-pleads-guilty/ Fri, 16 Jun 2017 14:00:46 +0000 https://www.securitieslawyer101.com/?p=36768 Going Public Lawyer

On June 1, 2017, Antonio Katz, a defendant in ongoing SEC litigation, pled guilty to criminal charges filed by the U.S. Attorney for the District of Massachusetts. Antonio Katz was charged with one count of conspiracy and one... Read More

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SEC Adopts JOBS Act Amendments https://www.securitieslawyer101.com/2017/sec-adopts-jobs-act-amendments/ Thu, 15 Jun 2017 14:00:00 +0000 https://www.securitieslawyer101.com/?p=36765 Going Public Lawyer

  On April 5, 2017, the Securities and Exchange Commission (“SEC”) announced that it has adopted JOBS Act amendments to increase the amount of money companies can raise through crowdfunding to adjust for inflation.  It also approved amendments that... Read More

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Can-Cal & SkyStar Temporarily Suspended https://www.securitieslawyer101.com/2017/can-cal-skystar-temporarily-suspended/ Wed, 14 Jun 2017 14:00:22 +0000 https://www.securitieslawyer101.com/?p=36760 Going Public Lawyer

The U.S. Securities and Exchange Commission (“Commission”) announced the temporary suspension of trading in the securities of the following issuers, commencing at 9:30 a.m. EDT on June 9, 2017 and terminating at 11:59 p.m. EDT on June 22,... Read More

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David Fuselier Charged for Fraudulent Scheme https://www.securitieslawyer101.com/2017/david-fuselier-fraudulent-scheme/ Tue, 13 Jun 2017 14:00:06 +0000 https://www.securitieslawyer101.com/?p=36755 Going Public Lawyer

On June 6, 2017, the Securities and Exchange Commission (“SEC”) charged David Fuselier, a chief executive officer, with perpetrating a fraudulent scheme to create the false appearance of improvement in the financial statements of two publicly traded companies... Read More

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Marc Broidy & Broidy Wealth Advisors Receive Final Judgement https://www.securitieslawyer101.com/2017/marc-broidy-receive-final-judgement/ Mon, 12 Jun 2017 14:00:04 +0000 https://www.securitieslawyer101.com/?p=36750 Going Public Lawyer

On May 30, 2017, the Honorable Eric N. Vitaliano of the United States District Court for the Eastern District of New York entered a final consent judgment against defendants Marc Broidy and Broidy Wealth Advisors, LLC (“BWA”), enjoining... Read More

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Final Judgement Against GAW Miners and ZenMiner https://www.securitieslawyer101.com/2017/final-judgement-gaw-miners-zenminer/ Sun, 11 Jun 2017 14:00:56 +0000 https://www.securitieslawyer101.com/?p=36747 Going Public Lawyer

On June 2, 2017, the U.S. District Court for the District of Connecticut entered a final default judgment against two Connecticut-based companies, GAW Miners, LLC and ZenMiner, LLC, in a case alleging that these companies and their principal... Read More

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SEC Charges iPayment Executives with Fraud https://www.securitieslawyer101.com/2017/sec-charges-ipayment-executives-fraud/ Sat, 10 Jun 2017 14:00:53 +0000 https://www.securitieslawyer101.com/?p=36744 Going Public Lawyer

On March 10, 2017, the Securities and Exchange Commission (“SEC”) charged two former iPayment executives, a credit card processing company, with masterminding a fraudulent scheme to steal millions of dollars through phony expense reimbursements, inflated invoices, and other improper... Read More

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Nima Hedayati Charged With Insider Trading https://www.securitieslawyer101.com/2017/nima-hedayati-charged-insider-trading/ Fri, 09 Jun 2017 14:00:36 +0000 https://www.securitieslawyer101.com/?p=36741 Going Public Lawyer

On March 14, 2017, the Securities and Exchange Commission (“SEC”) announced that Nima Hedayati, an auditor based in the Silicon Valley, has agreed to settle charges that he traded on inside information about a client on the verge of... Read More

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Alpine Securities Fails to Comply to Anti-Money Laundering Law https://www.securitieslawyer101.com/2017/alpine-securities-anti-money-laundering/ Thu, 08 Jun 2017 14:00:58 +0000 https://www.securitieslawyer101.com/?p=36738 Going Public Lawyer

On June 5, 2017, the Securities and Exchange Commission (“SEC”) charged Alpine Securities Corporation, a Salt Lake City-based brokerage firm, with securities law violations related to its alleged practice of clearing transactions for microcap stocks that were used in... Read More

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Larry Holley Charged with Fraud https://www.securitieslawyer101.com/2017/larry-holley-charged-fraud/ Wed, 07 Jun 2017 14:00:57 +0000 https://www.securitieslawyer101.com/?p=36733 Going Public Lawyer

On March 30, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges and an emergency asset freeze obtained against Larry Holley, a Michigan-based pastor, accused of exploiting church members, retirees, and laid-off auto workers who were misled to... Read More

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LottoNet Accused of Conducting Boiler Room Scheme https://www.securitieslawyer101.com/2017/lottonet-accused-boiler-room-scheme/ Tue, 06 Jun 2017 14:00:28 +0000 https://www.securitieslawyer101.com/?p=36730 Going Public Lawyer

On March 27, 2017, the Securities and Exchange Commission (“SEC”) announced charges against LottoNet Operating Corp., a Florida-based company, its CEO, and its top sales agent accused of conducting a boiler room scheme that solicits investments in a business... Read More

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Lawson Financial Corporation Settles Fraud Charges https://www.securitieslawyer101.com/2017/lawson-financial-settles-fraud-charges/ Mon, 05 Jun 2017 14:00:24 +0000 https://www.securitieslawyer101.com/?p=36726 Going Public Lawyer

On April 5, 2017, the Securities and Exchange Commission (“SEC”) announced that Lawson Financial Corporation, an Arizona-based brokerage firm, its CEO, and its former underwriter’s counsel have agreed to settle charges related to municipal bond offerings they were underwriting... Read More

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John Bocchino Barred by FINRA https://www.securitieslawyer101.com/2017/john-bocchino-barred-finra/ Fri, 02 Jun 2017 14:00:25 +0000 https://www.securitieslawyer101.com/?p=36723 Going Public Lawyer

On June 1, 2017, the Financial Industry Regulatory Authority (“FINRA”) announced that it has barred former Morgan Stanley Smith Barney registered representative John Bocchino for concealing approximately $190 million in Venezuelan bond trades from the firm, which had... Read More

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Medbox Charged by the SEC https://www.securitieslawyer101.com/2017/medbox-charged-sec/ Thu, 01 Jun 2017 14:00:40 +0000 https://www.securitieslawyer101.com/?p=36720 Going Public Lawyer

On March 9, 2017, the Securities and Exchange Commission (“SEC”) charged Medbox, a California-based company, and its founder with falsely touting “record” revenue numbers to investors and claiming to be a leader in the marijuana industry while some of... Read More

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Verto Capital Settles Charges for Ponzi-like Scheme https://www.securitieslawyer101.com/2017/verto-capital-settles-charges/ Wed, 31 May 2017 14:00:38 +0000 https://www.securitieslawyer101.com/?p=36717 Going Public Lawyer

On May 4, 2017, the Securities and Exchange Commission (“SEC”) announced that Verto Capital Management, a New Jersey-based firm, and its CEO have agreed to pay more than $4 million to settle charges that they used new investor money... Read More

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Desarrolladora Homex Settle Fraud Charges https://www.securitieslawyer101.com/2017/desarrolladora-homex-settle-fraud/ Tue, 30 May 2017 14:00:41 +0000 https://www.securitieslawyer101.com/?p=36713 Going Public Lawyer

On March 3, 2017, the Securities and Exchange Commission (“SEC”) announced that Mexico-based homebuilding company Desarrolladora Homex S.A.B. de C.V. has agreed to settle charges that it reported fake sales of more than 100,000 homes to boost revenues in... Read More

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MagnaChip & CFO Settle Accounting Fraud Charges https://www.securitieslawyer101.com/2017/magnachip-cfo-settle-fraud-charges/ Mon, 29 May 2017 14:00:57 +0000 https://www.securitieslawyer101.com/?p=36710 Going Public Lawyer

On May 1, 2017, the Securities and Exchange Commission (“SEC”) announced that MagnaChip, a South Korea-based semiconductor manufacturer, and its former CFO have agreed to settle charges related to an accounting scheme to artificially boost revenue and manipulate the... Read More

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Centers for Medicare and Medicaid Services Employees Charged with Insider Trading https://www.securitieslawyer101.com/2017/centers-medicare-medicaid-services-employees-insider-trading/ Sun, 28 May 2017 14:00:36 +0000 https://www.securitieslawyer101.com/?p=36705 Going Public Lawyer

On May 24, 2017, the Securities and Exchange Commission (“SEC”) announced charges in an alleged insider trading scheme involving tips of nonpublic information about government plans to cut Medicare reimbursement rates by former Centers for Medicare and Medicaid Services... Read More

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SEC Files Fraud Charges Against Robert Murray https://www.securitieslawyer101.com/2017/sec-fraud-charges-robert-murray/ Sat, 27 May 2017 14:00:06 +0000 https://www.securitieslawyer101.com/?p=36702 Going Public Lawyer

On May 19, 2017, the Securities and Exchange Commission (“SEC”) filed fraud charges against Robert Murray, a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. According to the... Read More

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SEC Charges David Humphrey with Securities Fraud https://www.securitieslawyer101.com/2017/sec-charges-david-humphrey-securities-fraud/ Fri, 26 May 2017 14:00:58 +0000 https://www.securitieslawyer101.com/?p=36697 Going Public Lawyer

On May 9, 2017, the Securities and Exchange Commission (“SEC”) charged David Humphrey, a former employee, with securities fraud in connection with his trading of options and other securities. The SEC’s complaint alleges that David Humphrey, who worked... Read More

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Barclays Capital Required to Refund Advisory Fees by SEC https://www.securitieslawyer101.com/2017/barclays-refund-advisory-fees/ Thu, 25 May 2017 14:00:49 +0000 https://www.securitieslawyer101.com/?p=36694 Going Public Lawyer

On May 10, 2017, the Securities and Exchange Commission (“SEC”) announced an enforcement action requiring Barclays Capital to refund advisory fees or mutual fund sales charges to clients who were overcharged. In a settlement of more than $97 million,... Read More

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Miles Nadal Settles $5.5 Million for SEC Case https://www.securitieslawyer101.com/2017/miles-nadal-settles-5-5-million-sec-case/ Wed, 24 May 2017 14:00:52 +0000 https://www.securitieslawyer101.com/?p=36689 Going Public Lawyer

On May 11, 2017, the Securities and Exchange Commission (“SEC”) announced that Miles Nadal, the former CEO of a marketing company, has agreed to pay $5.5 million to settle charges that his perks were not properly disclosed to shareholders. Public... Read More

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SEC Charges Nomura Securities International Inc. Head Traders https://www.securitieslawyer101.com/2017/sec-charges-nomura-securities-head-traders/ Tue, 23 May 2017 14:00:47 +0000 https://www.securitieslawyer101.com/?p=36686 Going Public Lawyer

On May 15, 2017, the Securities and Exchange Commission (“SEC”) charged a pair of former head traders who ran the commercial mortgage-backed securities (CMBS) desk at Nomura Securities International Inc. with deliberately lying to customers in order to... Read More

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Walter Little and Neighbor Charged by SEC for Insider Trading https://www.securitieslawyer101.com/2017/walter-little-neighbor-charged-insider-trading/ Mon, 22 May 2017 14:00:23 +0000 https://www.securitieslawyer101.com/?p=36681 Going Public Lawyer

On May 11, 2017, the Securities and Exchange Commission (“SEC”) charged Walter Little, a former partner at an international law firm, and his neighbor with making more than $1 million in illicit profits by insider trading around corporate... Read More

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Axesstel Fails to Comply with Exchange Act https://www.securitieslawyer101.com/2017/axesstel-fail-comply-exchange-act/ Sun, 21 May 2017 14:00:47 +0000 https://www.securitieslawyer101.com/?p=36639 Going Public Lawyer

On April 24, 2017, the Securities and Exchange Commission (“SEC”) deemed it necessary and appropriate for the protection of investors that public administrative proceedings be, and hereby are, instituted pursuant to Section 12(j) of the Securities Exchange Act... Read More

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Jared Galanis Pleads Guilty, SEC Suspends Him https://www.securitieslawyer101.com/2017/jared-galanis-pleads-guilty-sec-suspend/ Sat, 20 May 2017 14:00:26 +0000 https://www.securitieslawyer101.com/?p=36635 Going Public Lawyer

On April 24, 2017, the Securities and Exchange Commission (“SEC”) deemed it appropriate to issue an order of forthwith suspension of Jared Galanis pursuant to Rule 102(e)(2) of the Commission’s Rules of Practice (17 C.F.R. § 200.102(e)(2)), which... Read More

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SEC Suspends Mark McKinnies https://www.securitieslawyer101.com/2017/sec-suspends-mark-mckinnies/ Fri, 19 May 2017 14:00:40 +0000 https://www.securitieslawyer101.com/?p=36632 Going Public Lawyer

On April 21, 2017, the Securities and Exchange Commission (“SEC”) deemed it appropriate and in the public interest that public administrative proceedings are instituted against Mark McKinnies pursuant to Rule 102(e)(3)(i) of the Commission’s Rules of Practice. Rule 102(e)(3)(i)... Read More

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SEC Charges Matthew Krimm with Defrauding Investors https://www.securitieslawyer101.com/2017/sec-charges-matthew-krimm-defrauding/ Thu, 18 May 2017 14:00:53 +0000 https://www.securitieslawyer101.com/?p=36611 Going Public Lawyer

On April 25, 2017, the Securities and Exchange Commission (“SEC”) charged Matthew Krimm, a former mortgage loan officer, with defrauding investors, including mortgage loan customers of his former employer. The SEC’s complaint, filed in federal court in Wilmington,... Read More

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SEC Charges Demitrios Hallas for Defrauding Customers https://www.securitieslawyer101.com/2017/sec-charges-demitrios-hallas-defrauding/ Wed, 17 May 2017 14:00:56 +0000 https://www.securitieslawyer101.com/?p=36605 Going Public Lawyer

On April 25, 2017, the Securities and Exchange Commission (“SEC”) charged Demitrios Hallas, a former broker, with knowingly or recklessly trading unsuitable investment products in the accounts of five customers and misappropriating more than $170,000 from one of... Read More

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Whistleblower Awarded Almost $4 Million by SEC https://www.securitieslawyer101.com/2017/whistleblower-awarded-4-million-sec/ Tue, 16 May 2017 14:00:16 +0000 https://www.securitieslawyer101.com/?p=36602 Going Public Lawyer

On April 25, 2017, the Securities and Exchange Commission (“SEC”) announced an award of nearly $4 million to a whistleblower who tipped the agency with detailed and specific information about serious misconduct and provided additional assistance during the... Read More

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SEC Charges Avaneesh Krishnamoorthy with Insider Trading https://www.securitieslawyer101.com/2017/sec-charges-avaneesh-krishnamoorthy-insider-trading/ Mon, 15 May 2017 14:00:37 +0000 https://www.securitieslawyer101.com/?p=36592 Going Public Lawyer

On April 24, 2017, the Securities and Exchange Commission (“SEC”) charged Avaneesh Krishnamoorthy, a vice president in the risk management department of a New York-based investment bank, with insider trading on confidential information he learned in advance of a... Read More

Going Public Lawyer

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SEC Charges Kevin Amell with Fraud https://www.securitieslawyer101.com/2017/sec-charges-kevin-amell-with-fraud/ Sun, 14 May 2017 14:00:36 +0000 https://www.securitieslawyer101.com/?p=36585 Going Public Lawyer

On April 24, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Kevin Amell, a Massachusetts-based portfolio manager accused of diverting at least $1.95 million to his personal brokerage account from a fund over which he... Read More

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Magyar Telekom Executives Agree to Pay Penalties https://www.securitieslawyer101.com/2017/magyar-telekom-executives-agree-to-pay-penalties/ Sat, 13 May 2017 14:00:38 +0000 https://www.securitieslawyer101.com/?p=36582 Going Public Lawyer

On April 24, 2017, the Securities and Exchange Commission (“SEC”) announced that two former executives at Hungarian-based telecommunications company Magyar Telekom have agreed to pay financial penalties and accept officer-and-director bars to settle a previously-filed SEC case alleging they... Read More

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SEC Charges Brothers for Hydrocarb Fraud Scheme https://www.securitieslawyer101.com/2017/sec-charges-brothers-for-hydrocarb-fraud-scheme/ Fri, 12 May 2017 14:00:11 +0000 https://www.securitieslawyer101.com/?p=36579 Going Public Lawyer

On April 21, 2017, the Securities and Exchange Commission (“SEC”) has charged two brothers – Kent and Mike Watts – with orchestrating a fraudulent scheme to qualify the stock of Hydrocarb Energy Corporation for listing on a major... Read More

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Robert Stewart Fined & Suspended by FINRA https://www.securitieslawyer101.com/2017/robert-stewart-fined-suspended-by-finra/ Thu, 11 May 2017 14:00:43 +0000 https://www.securitieslawyer101.com/?p=36571 Going Public Lawyer

On February 2, 2017, Robert Stewart (CRD #5746657, Dewey, Arizona) submitted a Letter of Acceptance, Waiver and Consent (“AWC”) in which he was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in... Read More

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Brian Scarpellini Named Respondent in Check-Kiting Scheme https://www.securitieslawyer101.com/2017/brian-scarpellini-named-respondent-in-check-kiting-scheme/ Wed, 10 May 2017 14:00:05 +0000 https://www.securitieslawyer101.com/?p=36567 Going Public Lawyer

On February 9, 2017, Brian Scarpellini (CRD #6320844, Plainsboro, New Jersey) was named a respondent in a FINRA complaint alleging that he converted funds totaling $1,158 from his member firm’s bank affiliate by engaging in a check-kiting scheme.... Read More

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Austin Morton Named Respondent In FINRA Complaint https://www.securitieslawyer101.com/2017/austin-morton-named-respondent-in-finra-complaint/ Tue, 09 May 2017 14:00:09 +0000 https://www.securitieslawyer101.com/?p=36564 Going Public Lawyer

On February 24, 2017, Austin Morton (CRD #5538108, Spiro, Oklahoma) was named a respondent in a FINRA complaint alleging that he converted a total of $36,000 from a former elderly customer with dementia. The complaint alleges that Austin... Read More

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Rosemary McGinley Suspended From Association with FINRA https://www.securitieslawyer101.com/2017/rosemary-mcginley-suspended-from-association-with-finra/ Mon, 08 May 2017 14:00:01 +0000 https://www.securitieslawyer101.com/?p=36554 Going Public Lawyer

On February 1, 2017, Rosemary McGinley (CRD #2435216, Doylestown, Pennsylvania) submitted a Letter of Acceptance, Waiver and Consent (“AWC”) in which she was suspended from association with any FINRA member in any capacity for 10 business days. In... Read More

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Legend Securities Named Respondent for Various Claims https://www.securitieslawyer101.com/2017/legend-securities-named-respondent-for-various-claims/ Sun, 07 May 2017 14:00:26 +0000 https://www.securitieslawyer101.com/?p=36551 Going Public Lawyer

On February 1, 2017, Legend Securities, Inc. (CRD #44952, New York, New York) was named a respondent in a FINRA complaint alleging various claims arising from failures in the firm’s compliance and supervisory systems and procedures. The complaint... Read More

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FINRA Fines Albert Fried & Company https://www.securitieslawyer101.com/2017/finra-fines-albert-fried-company/ Sat, 06 May 2017 14:00:40 +0000 https://www.securitieslawyer101.com/?p=36546 Going Public Lawyer

On February 22, 2017, Albert Fried & Company, LLC (CRD #1914, New York, New York) submitted a Letter of Acceptance, Waiver and Consent (“AWC”) in which the firm was censured and fined $27,500. Without admitting or denying the... Read More

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Alejandro Falla Barred From Association with FINRA Members https://www.securitieslawyer101.com/2017/alejandro-falla-barred-association-finra-members/ Fri, 05 May 2017 14:00:07 +0000 https://www.securitieslawyer101.com/?p=36540 Going Public Lawyer

On February 9, 2017, Alejandro Falla (CRD #5064828, Miami, Florida) submitted an AWC in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Falla consented to the sanction... Read More

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Jay Hatton Submits Offer of Settlement https://www.securitieslawyer101.com/2017/jay-hatton-submits-offer-of-settlement/ Thu, 04 May 2017 14:00:31 +0000 https://www.securitieslawyer101.com/?p=36537 Going Public Lawyer

Jay Hatton (CRD #1725472, Edinburgh, Indiana) submitted an Offer of Settlement in which he was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in any capacity for two years. Without admitting or... Read More

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Lightspeed Trading Named Respondent in FINRA Complaint https://www.securitieslawyer101.com/2017/lightspeed-trading-named-respondent-in-finra-complaint/ Wed, 03 May 2017 14:00:12 +0000 https://www.securitieslawyer101.com/?p=36529 Going Public Lawyer

Lightspeed Trading, LLC (CRD #35519, New York, New York) was named a respondent in a FINRA complaint alleging that it failed to establish, document, and maintain an adequate system of risk management controls and supervisory procedures, including certain... Read More

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J.W. Korth & Company to pay Restitiution https://www.securitieslawyer101.com/2017/j-w-korth-company/ Tue, 02 May 2017 14:00:36 +0000 https://www.securitieslawyer101.com/?p=36525 Going Public Lawyer

J.W. Korth & Company, Limited Partnership (CRD #26455, Lansing, Michigan) was ordered to pay the approximate amount of $29,268, plus interest, in restitution to customers and in lieu of a fine, is required to retain an independent consultant... Read More

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FINRA Fines BMA Securities https://www.securitieslawyer101.com/2017/finra-fines-bma-securities/ Mon, 01 May 2017 14:00:15 +0000 https://www.securitieslawyer101.com/?p=36522 Going Public Lawyer

On February 2, 2017, the Financial Industry Regulatory Authority (“FINRA”) accepted a Letter of Acceptance, Waiver and Consent (“AWC”), from BMA Securities, LLC (CRD #108219, El Segundo, California). BMA Securities was censured and fined $25,000. Without admitting or... Read More

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FINRA Expels Fox Financial Firm https://www.securitieslawyer101.com/2017/finra-expels-fox-financial-firm/ Sun, 30 Apr 2017 14:00:43 +0000 https://www.securitieslawyer101.com/?p=36519 Going Public Lawyer

Fox Financial Management Corporation (CRD® #134277, Carrollton, Texas), Brian Murphy (CRD #4743164, Frisco, Texas) and James Rooney Jr. (CRD #1857754, Carrollton, Texas) were expelled from FINRA® membership and fined $100,000. Murphy was fined $25,000, barred from association with... Read More

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FINRA Senior Helpline Celebrates 2nd Anniversary With $4.3 Million https://www.securitieslawyer101.com/2017/finra-senior-helpline-celebrates-2nd-anniversary-with-4-3-million/ Sat, 29 Apr 2017 14:00:28 +0000 https://www.securitieslawyer101.com/?p=36509 Going Public Lawyer

On April 20, 2017, the Financial Industry Regulatory Authority (FINRA) announced that FINRA’s Securities Helpline for Seniors®,  their senior helpline, marked its second anniversary with $4.3 million in voluntary reimbursements to callers since its launch on April 20,... Read More

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SEC Charges Matthew Fox with Securities Fraud https://www.securitieslawyer101.com/2017/sec-charges-matthew-fox-securities-fraud/ Fri, 28 Apr 2017 14:00:32 +0000 https://www.securitieslawyer101.com/?p=36490 Going Public Lawyer

On April 19, 2017, the Securities and Exchange Commission (“SEC”) charged Matthew Fox of Plano, Texas and his company, Wayne Energy, LLC, with securities fraud arising from a failed offering of interests in a joint venture formed to... Read More

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SEC Issues Rule 147 Intrastate Crowdfunding Guidance – Posted by Brenda Hamilton https://www.securitieslawyer101.com/2017/sec-issues-rule-147-intrastate-crowdfunding-guidance-brenda-hamilton/ Thu, 27 Apr 2017 14:18:10 +0000 https://www.securitieslawyer101.com/?p=36622 Going Public Lawyer

In October of last year, the Securities and Exchange Commission (“SEC”), adopted final rules (1) amending Rule 147, also known as Intrastate Crowdfunding and Rule 504 under the Securities Act of 1933, as amended (the “Securities Act”),  and... Read More

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SEC Charges Justin Meadlin of Hyaline Capital Management https://www.securitieslawyer101.com/2017/sec-charges-justin-meadlin-hyaline-capital-management/ Thu, 27 Apr 2017 14:00:19 +0000 https://www.securitieslawyer101.com/?p=36493 Going Public Lawyer

On April 17, 2017, the Securities and Exchange Commission (“SEC”) charged a New York-based investment adviser, Hyaline Capital Management, LLC, and one of its founders, Justin Meadlin, with disseminating false information to prospective investors and clients in order... Read More

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What is a NYSE Designated Market Maker? Posted by Brenda Hamilton https://www.securitieslawyer101.com/2017/what-is-a-nyse-designated-market-maker-posted-by-brenda-hamilton/ Wed, 26 Apr 2017 14:00:06 +0000 https://www.securitieslawyer101.com/?p=36487 Going Public Lawyer

One of the most important decisions for a company going public is to choose the right market for listing the company’s shares. This is true for initial public and direct public offerings. The New York Stock Exchange (“NYSE”)... Read More

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SEC Announces Temporary Trading Suspension of Sunshine Capital https://www.securitieslawyer101.com/2017/sec-announces-temporary-trading-suspension-of-sunshine-capital/ Tue, 25 Apr 2017 14:00:15 +0000 https://www.securitieslawyer101.com/?p=36483 Going Public Lawyer

At 9:30 a.m. EDT on April 12, 2017, the Securities and Exchange Commission  announced the temporary suspension of trading in the securities of Sunshine Capital, Inc. (“SCNP”), of Hollywood, Florida, terminating at 11:59 p.m. EDT on April 26,... Read More

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SEC Announces Temporary Trading Suspension of Bingo Nation https://www.securitieslawyer101.com/2017/sec-announces-temporary-trading-suspension-bingo-nation/ Mon, 24 Apr 2017 14:00:00 +0000 https://www.securitieslawyer101.com/?p=36480 Going Public Lawyer

At 9:30 a.m. EDT on April 13, 2017, the Securities and Exchange Commission announced the temporary suspension of trading in the securities of Bingo Nation Inc. , of Las Vegas, Nevada and terminating at 11:59 p.m. EDT on... Read More

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SEC Charges Lucita Zamoras with Operating a Fraudulent Promissory Note Scheme https://www.securitieslawyer101.com/2017/sec-charges-lucita-zamoras-operating-fraudulent-promissory-note-scheme/ Sun, 23 Apr 2017 14:00:11 +0000 https://www.securitieslawyer101.com/?p=36465 Going Public Lawyer

The SEC’s complaint, filed in federal court in the Northern District of Illinois, alleges that Lucita Zamoras solicited investors for a promissory note program and subsequently misappropriated the investors’ funds. From at least October 2009 through December 2013,... Read More

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SEC Charges Michael Shumway with Securities Fraud https://www.securitieslawyer101.com/2017/sec-charges-michael-shumway-securities-fraud/ Sat, 22 Apr 2017 14:00:00 +0000 https://www.securitieslawyer101.com/?p=36458 Going Public Lawyer

On April 8, 2017,  the Securities and Exchange Commission (SEC) announced securities fraud charges against Michael Shumway, a former corporate secretary and treasurer of two Utah water companies for misappropriating and fraudulently selling corporate shares. The SEC’s complaint,... Read More

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SEC Obtains Injunction and Asset Freeze Against Daniel Glick https://www.securitieslawyer101.com/2017/sec-obtains-injunction-asset-freeze-daniel-glick/ Fri, 21 Apr 2017 14:00:15 +0000 https://www.securitieslawyer101.com/?p=36454 Going Public Lawyer

On April 13, 2017, the Securities and Exchange Commission (SEC) announced a preliminary injunction against Daniel Glick and his unregistered investment advisory firm Financial Management Strategies (FMS), continued the asset freeze in the name of the Defendants, and... Read More

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SEC Charges Ryan Gilbertson for $30 Million Stock Manipulation Scheme https://www.securitieslawyer101.com/2017/sec-charges-ryan-gilbertson-30-million-stock-manipulation-scheme-wire-fraud/ Thu, 20 Apr 2017 14:00:25 +0000 https://www.securitieslawyer101.com/?p=36451 Going Public Lawyer

On March 22, 2017, Ryan Gilbertson, a Minnesota man previously accused by the SEC of orchestrating an elaborate scheme to siphon millions of dollars from Dakota Plains Holdings, Inc., was indicted on 13 counts of wire fraud. Also... Read More

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SEC Charges Lawyers Mustafa Sayid, Norman Reynolds and Paralegal Kevin Jasper in a Stock Manipulation Scheme https://www.securitieslawyer101.com/2017/sec-charges-lawyers-mustafa-sayid-norman-reynolds-paralegal-kevin-jasper-stock-manipulation-scheme/ Wed, 19 Apr 2017 14:00:11 +0000 https://www.securitieslawyer101.com/?p=36438 Going Public Lawyer

On April 12, 2017, the Securities and Exchange Commission (SEC) filed fraud charges against, Mustafa Sayid, a New York City-based securities lawyer for orchestrating taking control of two publicly traded shell companies and rigging them and their securities... Read More

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SEC Acquires Asset Freeze Over 4D Circle https://www.securitieslawyer101.com/2017/sec-acquires-asset-freeze-4d-circle/ Tue, 18 Apr 2017 14:00:31 +0000 https://www.securitieslawyer101.com/?p=36434 Going Public Lawyer

On April 14, 2017, the Securities and Exchange Commission announced charges against two Fort Worth residents and their company, 4D Circle, for defrauding investors in a commercial real estate investment scheme. At the SEC’s request, U.S. District Judge... Read More

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SEC Case Against Lionshare Faud Enters Final Default Judgement https://www.securitieslawyer101.com/2017/sec-case-against-lionshare-faud-enters-final-default-judgement/ Mon, 17 Apr 2017 14:00:34 +0000 https://www.securitieslawyer101.com/?p=36430 Going Public Lawyer

On April 14, 2017, a federal court in Boston, Massachusetts, entered a final default judgment in an ongoing SEC enforcement action against Lionshare Ventures, LLC, a Massachusetts-based privately-held corporation that the SEC alleges was a business incubator for... Read More

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SEC Files for Stock Promotion Schemes Against 27 Individuals & Entities https://www.securitieslawyer101.com/2017/sec-files-for-alleged-stock-promotion-schemes-to-27-individuals-entities/ Sun, 16 Apr 2017 14:00:58 +0000 https://www.securitieslawyer101.com/?p=36424 Going Public Lawyer

On April 10, 2017, the SEC announced enforcement actions against 27 individuals and entities behind various alleged stock promotion schemes that left investors with the impression they were reading independent, unbiased analyses on investing websites while writers were being... Read More

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SEC Charges Traders For Insider Trading – Posted by Brenda Hamilton https://www.securitieslawyer101.com/2017/sec-charges-traders-insider-trading/ Sat, 15 Apr 2017 12:51:48 +0000 https://www.securitieslawyer101.com/?p=36419 Going Public Lawyer

On April 14, 2017, the Securities and Exchange Commission (“SEC”) announced an emergency court order to freeze assets for Insider Trading. According to the SEC, the assets were in two brokerage accounts used last week to reap more than... Read More

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Judgment Entered in Safety Technologies Unregistered Securities Offering https://www.securitieslawyer101.com/2017/safety-technologies-unregistered-securities/ Sat, 15 Apr 2017 04:00:59 +0000 https://www.securitieslawyer101.com/?p=36462 Going Public Lawyer

On April 4, 2017,  a final judgment was entered against Safety Technologies LLC (“Safety Technologies”) and Thomas Connerton for defrauding investors by misleading them to invest in a purported glove manufacturing company and then diverting their money for Connerton’s... Read More

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What SEC Disclosure Is Required By Section 17(b) For Investor Relations Firms? https://www.securitieslawyer101.com/2017/disclosure-investor-relations/ Mon, 03 Apr 2017 04:00:58 +0000 http://www.securitieslawyer101.com/?p=19758 Going Public Lawyer

We are often contacted by investors, stock promoters and investor relations firms about the disclosures that must be provided in promotional websites, emails and other investor relations materials. Section 17(b) of the Securities Act of 1933 requires anyone who... Read More

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SEC Adopts T+2 Trade Settlement Rule https://www.securitieslawyer101.com/2017/sec-adopts-t2-trade-settlement-rule/ Sat, 25 Mar 2017 15:21:05 +0000 https://www.securitieslawyer101.com/?p=36411 Going Public Lawyer

On March 22, 2017, the Securities and Exchange Commission (“SEC”) adopted the T+2  amendment which shortens the standard settlement cycle for most broker-dealer securities transactions.  Currently, the standard settlement cycle for these transactions is three business days, known as... Read More

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SEC Charges Jerry Miller in Petrotech Oil Fraud https://www.securitieslawyer101.com/2017/sec-charges-jerry-miller-petrotech-oil-fraud/ Fri, 24 Mar 2017 11:17:24 +0000 https://www.securitieslawyer101.com/?p=36407 Going Public Lawyer

On March 13, 2017, the Securities and Exchange Commission charged Jerry Miller in connection with Petrotech Oil and Gas, Inc.. According to the SEC allegations, Miller is the principal of a Florida-based consulting firm to several microcap issuers.... Read More

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What is the Transfer Agent Direct Registration System (DRS)? https://www.securitieslawyer101.com/2017/transfer-agent-direct-registration-system-drs/ Fri, 17 Mar 2017 14:23:29 +0000 https://www.securitieslawyer101.com/?p=36381 Going Public Lawyer

The Depository Trust Company (“DTC”) offers a service to transfer agents known as the Direct Registration System (“DRS”).  DRS allows transfer agents to provide shareholders with the ability to hold their shares in book-entry form with the transfer agent... Read More

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SEC Charges Lek Securities – Posted by Brenda Hamilton https://www.securitieslawyer101.com/2017/sec-charges-lek-securities-posted-brenda-hamilton/ Thu, 16 Mar 2017 08:17:07 +0000 https://www.securitieslawyer101.com/?p=36377 Going Public Lawyer

On March 10, 2013, the Securities and Exchange Commission (“SEC”) announced fraud charges against Lek Securities and Avalon FA, a Ukraine-based trading firm in connection with a layering scheme. According to the SEC, Avalon FA, Fayyer and Pustelnik manipulated the... Read More

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Alex Kon Challenges SEC Administrative Law Judges https://www.securitieslawyer101.com/2017/alex-kon-challenges-sec-administrative-law-judges/ Mon, 13 Mar 2017 01:08:35 +0000 https://www.securitieslawyer101.com/?p=36370 Going Public Lawyer

The SEC’s Use of Administrative Law Judges After Dodd Frank Following passage of the Dodd-Frank Act in 2010, the Securities and Exchange Commission (“SEC”) began making greater use of its in-house administrative judges to hear enforcement cases.  Between... Read More

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SEC Eases Access to Exhibits in SEC Filings https://www.securitieslawyer101.com/2017/sec-eases-access-exhibits-sec-filings/ Thu, 09 Mar 2017 10:46:31 +0000 https://www.securitieslawyer101.com/?p=36361 Going Public Lawyer

  On March 1, 2017 the Securities and Exchange Commission (the “SEC”) approved amendments related to SEC filings. The new amendments make it easier for investors and other market participants to find and access exhibits in registration statements and... Read More

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SEC Uses Satellite Imagery to Charge Desarrolladora Homex https://www.securitieslawyer101.com/2017/sec-uses-satellite-images-to-nail-home/ Sun, 05 Mar 2017 18:35:21 +0000 https://www.securitieslawyer101.com/?p=36348 Going Public Lawyer

Anyone who thinks that the Securities and Exchange Commission (the “SEC”) is behind the times should check out the SEC’s latest action against Mexico-based home building company Desarrolladora Homex S.A.B. de C.V.  The SEC used satellite imagery to help... Read More

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New SEC Approves Ease Access to Exhibits in SEC Filings https://www.securitieslawyer101.com/2017/36353/ Sat, 04 Mar 2017 19:15:13 +0000 https://www.securitieslawyer101.com/?p=36353 Going Public Lawyer

On March 1, 2017, the SEC voted to adopt rule and form amendments that impact SEC Filings. The SEC’s new rules make it easier to locate and access exhibits in registration statements such as Form S-1 and periodic... Read More

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SEC Staff Issues Guidance and Investor Bulletin on Robo-Advisers https://www.securitieslawyer101.com/2017/sec-staff-issues-guidance-update-investor-bulletin-robo-advisers/ Wed, 01 Mar 2017 12:29:24 +0000 https://www.securitieslawyer101.com/?p=36344 Going Public Lawyer

On February 23, 2017 the Securities and Exchange Commission (the “SEC”) published information and guidance concerning robo-advisers for investors and the financial services industry on the fast-growing use of robo-advisers, which are registered investment advisers that use computer... Read More

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James P. Toner Jr Settles Fraud Charges – Posted by Brenda Hamilton https://www.securitieslawyer101.com/2017/purported-real-estate-investment-manager-settles-fraud-charges/ Wed, 01 Mar 2017 05:00:47 +0000 https://www.securitieslawyer101.com/?p=36328 Going Public Lawyer

The Securities and Exchange Commission (SEC) on February 14, 2017 announced that James P. Toner Jr, a purported real estate investment manager has agreed to pay more than a half-million dollars to settle charges that he pocketed investor... Read More

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SEC Brings Cases Related to Disclosures During Battles for Corporate Control https://www.securitieslawyer101.com/2017/36326/ Tue, 28 Feb 2017 21:05:47 +0000 https://www.securitieslawyer101.com/?p=36326 Going Public Lawyer

On February 14, 2017, the Securities and Exchange Commission (the “SEC”) announced two SEC enforcement actions involving disclosure violations that deprived investors of material information during battles for corporate control of publicly traded companies. In one case, the... Read More

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Chinese Citizens Gain Massive Profits From Insider Trading on Comcast-Dreamworks Acquisition https://www.securitieslawyer101.com/2017/36301/ Mon, 27 Feb 2017 16:30:48 +0000 https://www.securitieslawyer101.com/?p=36301 Going Public Lawyer

  On February 10, 2017 the Securities and Exchange Commission (SEC) announced that it obtained an emergency court order freezing brokerage accounts holding more than $29 million in illegal profits from insider trading in advance of the April... Read More

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Financial Adviser Funds Lavish Lifestyle by Stealing from Client Accounts https://www.securitieslawyer101.com/2017/financial-adviser-funds-lavish-lifestyle-stealing-client-accounts/ Sun, 26 Feb 2017 16:26:51 +0000 https://www.securitieslawyer101.com/?p=36305 Going Public Lawyer

  The Securities and Exchange Commission (SEC) on February 3, 2017 charged Barry Connell, an investment adviser representative with stealing approximately $5 million from client accounts by initiating unauthorized wire transfers and issuing checks to third parties to... Read More

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Sidoti & Company Fined For Compliance and Trading Surveillance Failures https://www.securitieslawyer101.com/2017/36308/ Fri, 24 Feb 2017 16:22:27 +0000 https://www.securitieslawyer101.com/?p=36308 Going Public Lawyer

  The Securities and Exchange Commission (SEC) on February 13, 2017 announced that Sidoti & Company LLC, a New York-based brokerage firm has agreed to pay a $100,000 penalty to settle charges of compliance and trading surveillance failures.Federal... Read More

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SEC Sues Investment Adviser Who Turned Thief https://www.securitieslawyer101.com/2017/sec-charges-investment-adviser-stealing-investor-funds/ Thu, 23 Feb 2017 15:18:27 +0000 https://www.securitieslawyer101.com/?p=36298 Going Public Lawyer

  On February 2, 2017 the Securities and Exchange Commission (the “SEC”) charged Sentinel Growth Fund Management and its founder Mark J. Varacchi  with stealing money from investors to settle a private lawsuit among other things. The SEC alleges... Read More

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Morgan Stanley Settles Charges Related to ETF Investments https://www.securitieslawyer101.com/2017/morgan-stanley-settles-charges-related-etf-investments/ Wed, 22 Feb 2017 16:16:51 +0000 https://www.securitieslawyer101.com/?p=36292 Going Public Lawyer

On February 14, 2017, the SEC announced that Morgan Stanley Smith Barney has agreed to pay an $8 million penalty and admit wrongdoing to settle charges related to single inverse ETF investments it recommended to advisory clients. The SEC’s... Read More

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NASAA and SEC Sign Crowdfunding Agreement https://www.securitieslawyer101.com/2017/nasaa-sec-sign-crowdfunding-agreement/ Sat, 18 Feb 2017 13:17:28 +0000 https://www.securitieslawyer101.com/?p=36289 Going Public Lawyer

On February 17, 2017 the Securities and Exchange Commission (the “SEC”) the North American Securities Administrators Association (“NASAA”) signed a crowding funding agreement. The agreement sets forth the rules to facilitate intrastate crowdfunding offerings and regional offerings take effect. The agreement... Read More

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Former Shell Company, Terminus Energy and Its Officers Charged With Securities Fraud https://www.securitieslawyer101.com/2017/terminus-energy-charged-with-securities-fraud/ Fri, 17 Feb 2017 19:09:02 +0000 https://www.securitieslawyer101.com/?p=36272 Going Public Lawyer

On February 14, 2017 the Securities and Exchange Commission (the “SEC) charged Terminus Energy, Inc and four corporate officers with securities fraud. According to the SEC, Terminus Energy and its four officers misleading investors about the research, development,... Read More

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FBI Informant Guy Gentile’s Indictment Is Tossed by the Judge https://www.securitieslawyer101.com/2017/fbi-informant-guy-gentiles-indictment-tossed-judge/ Wed, 01 Feb 2017 21:13:42 +0000 https://www.securitieslawyer101.com/?p=36259 Going Public Lawyer

Guy Gentile Gets Good News On January 30, 2017, brokerage firm owner Guy Gentile got the good news he’d been hoping for:  Judge Jose Linares of the United States District Court for the District of New Jersey had... Read More

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SEC Final Judgment Entered Against Graduate Leverage https://www.securitieslawyer101.com/2017/36142/ Mon, 23 Jan 2017 15:07:47 +0000 https://www.securitieslawyer101.com/?p=36142 Going Public Lawyer

On December 23, 2016, the United States District Court for the District of Massachusetts entered final judgments against Graduate Leverage, LLC, GL Capital Partners, LLC, GL Investment Services, LLC, Taft Financial Services, LLC, and GL Advisor Solutions, Inc. These... Read More

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Final Judgment Entered Against Gregg Mulholland Posted by Brenda Hamilton https://www.securitieslawyer101.com/2017/final-judgment-entered-gregg-mulholland-posted-brenda-hamilton/ Sun, 22 Jan 2017 15:04:25 +0000 https://www.securitieslawyer101.com/?p=36134 Going Public Lawyer

On January 11, 2017, the U.S. District Court for the Eastern District of New York entered a final judgment against defendant Gregg R. Mulholland, a penny stock promoter charged in an SEC action with illegally selling more than... Read More

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Final Judgment Entered in “Prime Bank” Fraud – By: Brenda Hamilton https://www.securitieslawyer101.com/2017/final-judgment-entered-prime-bank-fraud-brenda-hamilton/ Sat, 21 Jan 2017 14:50:47 +0000 https://www.securitieslawyer101.com/?p=36131 Going Public Lawyer

On January 13, 2017, the U.S. District Court for the District of Minnesota entered a final judgment against Minnesota resident James M. Louks and his company, FiberPoP Solutions, Inc. Louks and FiberPoP are defendants in an SEC civil... Read More

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Traders Charged With Hacking Lawyers – Posted by Brenda Hamilton https://www.securitieslawyer101.com/2017/traders-charged-trading-hacked-lawyers-posted-brenda-hamilton/ Sun, 08 Jan 2017 13:02:05 +0000 https://www.securitieslawyer101.com/?p=36125 Going Public Lawyer

  On December 27, 2016, the Securities and Exchange Commission charged three Chinese traders with fraudulently trading on hacked nonpublic market-moving information stolen from two prominent New York-based law firms, racking up almost $3 million in illegal profits. ... Read More

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General Cable Corporation Settles FCPA Charges – Posted by Brenda Hamilton https://www.securitieslawyer101.com/2017/general-cable-corporation/ Sat, 07 Jan 2017 13:00:53 +0000 https://www.securitieslawyer101.com/?p=36120 Going Public Lawyer

Posted by Brenda Hamilton One December 29, 2016, the Securities and Exchange Commission announced that Kentucky-based General Cable Corporation agreed to pay more than $75 million to resolve parallel SEC and U.S. Department of Justice investigations related to its violations... Read More

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Blackbird Capital Partners LLC and Owners Charged in Ponzi Scheme https://www.securitieslawyer101.com/2016/blackbird-capital-partner/ Mon, 19 Dec 2016 05:00:17 +0000 https://www.securitieslawyer101.com/?p=36115 Going Public Lawyer

On November 28, 2016, the Securities and Exchange Commission (“SEC”) obtained a temporary restraining order and an emergency asset freeze in a $3 million offering fraud and Ponzi scheme orchestrated by Andrew Kelley, Paul Shumway and their company... Read More

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Matthew and William Griffin Charged with Fraud https://www.securitieslawyer101.com/2016/matthew-william-griffin-fraud/ Sun, 18 Dec 2016 05:00:45 +0000 https://www.securitieslawyer101.com/?p=36114 Going Public Lawyer

On November 23, 2016, the Securities and Exchange Commission (“SEC”) filed a civil action charging brothers Matthew Griffin and William Griffin with fraudulently offering interests in two Texas partnerships. The SEC alleges that, between November 2013 and July... Read More

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CEO of Warrior Girl Corp. Jason Kumpf Charged with Fraud https://www.securitieslawyer101.com/2016/warrior-girl-corp-jason-kumpf-fraud/ Sat, 17 Dec 2016 05:00:43 +0000 https://www.securitieslawyer101.com/?p=36111 Going Public Lawyer

On November 21, 2016, the Securities and Exchange Commission (“SEC”) charged Jason William Kumpf, the former CEO and president of microcap issuer Warrior Girl Corp. and a resident of San Francisco, California, with fraud based on his involvement in... Read More

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FBI Informant Guy Gentile Pushes Back https://www.securitieslawyer101.com/2016/fbi-informant-guy-gentile-pushes-back/ Thu, 15 Dec 2016 14:02:43 +0000 https://www.securitieslawyer101.com/?p=36104 Going Public Lawyer

In September, we wrote about Guy Gentile, the owner of two successful stock brokerages, and his troubles with the U.S. Department of Justice (“DOJ”).  According to the DOJ, back in 2007-2008, Guy Gentile had become involved in the... Read More

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William Allen and Susan Daub Plead Guilty to Wire Fraud https://www.securitieslawyer101.com/2016/william-allen-susan-daub-plead-guilty-wire-fraud/ Tue, 13 Dec 2016 05:00:40 +0000 https://www.securitieslawyer101.com/?p=36100 Going Public Lawyer

On November 14, 2016 and November 21, 2016, William Allen and Susan Daub pled guilty in federal court to criminal wire fraud and other charges in connection with an investment scheme involving fraudulent loans to professional athletes. The... Read More

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Stanley Fortenberry Pleads Guilty to $900,000 Fraud https://www.securitieslawyer101.com/2016/stanley-fortenberry-fraud/ Mon, 12 Dec 2016 05:00:42 +0000 https://www.securitieslawyer101.com/?p=36096 Going Public Lawyer

On November 18, 2016, Stanley Jonathan Fortenberry (a/k/a S.J., John, or Johnny Fortenberry) of San Angelo, Texas, pleaded guilty to an indictment charging him with obstruction of justice and other charges in connection with two investment companies he ran that... Read More

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Former KIT Digital Inc. President Gavin Campion Charged with Securities Fraud https://www.securitieslawyer101.com/2016/kit-digital-inc-gavin-campion-securities-fraud/ Sun, 11 Dec 2016 05:00:14 +0000 https://www.securitieslawyer101.com/?p=36094 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) charged Gavin Campion, the former president of KIT Digital Inc., with securities fraud. The SEC’s complaint, filed in federal court in New York on November 15, alleges that over a one-year period... Read More

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Francisco Martin Charged with Defrauding Investors in Native American Tribal Bonds https://www.securitieslawyer101.com/2016/francisco-martin-fraud-native-american-bonds/ Sat, 10 Dec 2016 18:08:20 +0000 https://www.securitieslawyer101.com/?p=36092 Going Public Lawyer

On November 14, 2016, the Securities and Exchange Commission (“SEC”) added Francisco Martin of Woodland Hills, California to a civil injunctive action currently pending in the U.S. District Court for the Southern District of New York, charging him with defrauding... Read More

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Beware of Lawyers Bearing Gifts – Custodianship Shells and Reverse Mergers https://www.securitieslawyer101.com/2016/custodianship-shells-and-reverse-mergers/ Sun, 04 Dec 2016 16:07:01 +0000 https://www.securitieslawyer101.com/?p=36086 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) says it doesn’t like over-the-counter shell companies especially when reverse mergers are involved, and would like to see them gone from the marketplace.  To that end, its Enforcement Division cooked up an... Read More

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Government Official Gordon Johnson Reaches Settlement for Insider Trading https://www.securitieslawyer101.com/2016/gordon-johnston-insider-trading-settlement/ Sat, 03 Dec 2016 05:00:44 +0000 https://www.securitieslawyer101.com/?p=36084 Going Public Lawyer

On November 14, 2016 the Securities and Exchange Commission (“SEC”) announced that it entered into a settlement agreement with Gordon Johnston, a former official at the U.S. Food and Drug Administration’s Office of Generic Drugs (OGD) who allegedly participated... Read More

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What Is An Unregistered Broker? – Going Public Lawyers https://www.securitieslawyer101.com/2016/what-is-an-unregistered-broker/ Wed, 30 Nov 2016 20:18:37 +0000 http://www.securitieslawyer101.com/?p=25902 Going Public Lawyer

The Securities and Exchange Commission (the “SEC”) is pursuing unregistered broker or broker dealer activity which runs rampant in the penny stock markets particulary in transactions involving reverse merger companies. Often these unregistered broker-dealers claim to be exempt... Read More

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President of TelexFree James Merrill Pleads Guilty to Running Pyramid Scheme https://www.securitieslawyer101.com/2016/telexfree-james-merrill-pyramid-scheme/ Wed, 16 Nov 2016 01:10:17 +0000 https://www.securitieslawyer101.com/?p=36018 Going Public Lawyer

On October 24, 2016, James M. Merrill, of Ashland, Massachusetts, the former president of TelexFree, Inc. and TelexFree, LLC, pled guilty to criminal charges related to his operating a pyramid scheme through TelexFree. On May 9, 2014, Merrill... Read More

Going Public Lawyer

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Attorney Adam Tracy & the Nefarious World of Custodianship Shells https://www.securitieslawyer101.com/2016/adam-tracy-attorney-sec-investigation/ Mon, 14 Nov 2016 23:43:03 +0000 https://www.securitieslawyer101.com/?p=35984 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) says it doesn’t like over-the-counter shell companies, and would like to see them gone from the marketplace.  To that end, its Enforcement Division cooked up an initiative it called  “Operation Shell-Expel”.  It... Read More

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Marc Broidy Charged with Defrauding Investors in 3 Separate Schemes https://www.securitieslawyer101.com/2016/marc-broidy-investment-scheme/ Mon, 14 Nov 2016 05:00:13 +0000 https://www.securitieslawyer101.com/?p=36020 Going Public Lawyer

On October 27, 2016 the Securities and Exchange Commission (“SEC”) charged a Los-Angeles based investment advisory firm and its owner, Marc Broidy with fraudulently overbilling clients and stealing assets from their trusts to pay such personal expenses as his... Read More

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Southlake Resources Group and Owner Cody Winters Charged with Fraud https://www.securitieslawyer101.com/2016/southlake-resources-group-fraud/ Mon, 14 Nov 2016 00:42:52 +0000 https://www.securitieslawyer101.com/?p=36016 Going Public Lawyer

Texas company Southlake Resources Group, LLC and its president Cody Winters have agreed to pay over $5.4 million to settle charges by the Securities and Exchange Commission (“SEC”) that they orchestrated an oil-and-gas fraud. The SEC also charged the... Read More

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Brazilian Airplane Manufacturer Embraer S.A. Charged with FCPA Violations https://www.securitieslawyer101.com/2016/embraer-fcpa-violations/ Sat, 12 Nov 2016 00:41:05 +0000 https://www.securitieslawyer101.com/?p=36014 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) announced a global settlement along with the U.S. Department of Justice and Brazilian authorities that requires aircraft manufacturer Embraer S.A. to pay more than $205 million to resolve alleged violations of the Foreign... Read More

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Executive of Pinnacle Financial Partners James Cope Charged with Insider Trading https://www.securitieslawyer101.com/2016/pinnacle-financial-partners-james-cope-insider-trading/ Mon, 07 Nov 2016 05:00:06 +0000 https://www.securitieslawyer101.com/?p=36007 Going Public Lawyer

On October 21, 2016 the Securities and Exchange Commission (“SEC”) charged a James Cope, a Tennessee lawyer who served on the executive committee of the board of directors of Nashville-based Pinnacle Financial Partners with insider trading based on nonpublic... Read More

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Christopher Salis and Douglas and Edward Miller Charged with Insider Trading https://www.securitieslawyer101.com/2016/christopher-salis-miller-charged-insider-trading/ Sun, 06 Nov 2016 04:00:15 +0000 https://www.securitieslawyer101.com/?p=36005 Going Public Lawyer

A federal grand jury in the Northern District of Indiana has indicted Christopher Salis, Douglas Miller, and Edward Miller on charges relating to insider trading, money laundering, and structuring currency transactions. The 17-count indictment also charges Douglas Miller... Read More

Going Public Lawyer

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SEC Issues Form S-3 Registration and Annual Report C&DIs https://www.securitieslawyer101.com/2016/form-s-3-annual-report/ Sat, 05 Nov 2016 15:37:45 +0000 https://www.securitieslawyer101.com/?p=36009 Going Public Lawyer

On November 2, 2016, the Securities and Exchange Commission (“SEC”) Division of Corporation Finance released two new compliance and disclosure interpretations (“C&DIs”) addressing eligibility to use Form S-3 registration statements and submission of annual reports to the SEC.... Read More

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Lime Energy Co. and Four Execs Charged with Accounting Fraud https://www.securitieslawyer101.com/2016/lime-energy-co-charged-accounting-fraud/ Sat, 05 Nov 2016 04:00:22 +0000 https://www.securitieslawyer101.com/?p=36003 Going Public Lawyer

On October 17, 2016 the Securities and Exchange Commission (“SEC”) charged Lime Energy Co., an energy services provider and four of its executives for their roles in an accounting fraud in which the company recognized revenue earlier than allowed... Read More

Going Public Lawyer

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Rule 147: Not Just for In-State Investors Anymore https://www.securitieslawyer101.com/2016/rule-147-not-just-state-investors-anymore/ Thu, 03 Nov 2016 15:49:13 +0000 https://www.securitieslawyer101.com/?p=35980 Going Public Lawyer

  On October 26, 2016, the Securities & Exchange Commission (the “SEC”) adopted  amendments to Rule 147 of the Securities Act of 1933, as amended (“Securities Act”) to modernize the exemptions for intrastate securities offerings. According to the SEC, the... Read More

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Ikenna Ikokwu Charged with Recommending Tax Lien Investment Scheme to Clients https://www.securitieslawyer101.com/2016/ikenna-ikokwu-tax-lien-investment-scheme/ Wed, 02 Nov 2016 04:00:45 +0000 https://www.securitieslawyer101.com/?p=35971 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) announced fraud charges against Ikenna Ikokwu, an investment adviser who recommended a Ponzi-like tax lien investment scheme to his clients. According to the SEC’s complaint, filed in the U.S. District Court for... Read More

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Court Enters Final Judgments Against Paul Downey and Two Others https://www.securitieslawyer101.com/2016/final-judgment-downey-oil-gas-fraud/ Tue, 01 Nov 2016 04:00:50 +0000 https://www.securitieslawyer101.com/?p=35969 Going Public Lawyer

On September 29, the Honorable Sam R. Cummings of the United States District Court for the Northern District of Texas entered final judgments against Defendants Paul Downey, Jeffry Downey, and John Leonard. The judgments followed summary-judgment rulings in... Read More

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Louis Buonocore and 4 Others Charged for Operating a Fraudulent Penny Stock Scheme https://www.securitieslawyer101.com/2016/buonocore-penny-stock-scheme/ Mon, 31 Oct 2016 04:00:56 +0000 https://www.securitieslawyer101.com/?p=35961 Going Public Lawyer

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

Going Public Lawyer

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Marcus Luna and Norell Walker Charged in Penny Stock Scam https://www.securitieslawyer101.com/2016/marcus-luna-penny-stock-scam/ Sun, 30 Oct 2016 04:00:45 +0000 https://www.securitieslawyer101.com/?p=35959 Going Public Lawyer

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

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Cannabis Company Infinex Ventures and CEO Ronald Salem Charged with Fraud https://www.securitieslawyer101.com/2016/infinex-ventures-ronald-salem-fraud/ Sat, 29 Oct 2016 04:00:47 +0000 https://www.securitieslawyer101.com/?p=35954 Going Public Lawyer

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

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SEC Expands Rule 504 of Regulation D & Rule 147 https://www.securitieslawyer101.com/2016/sec-expands-rule-504-regulation-d-rule-147/ Fri, 28 Oct 2016 10:15:43 +0000 https://www.securitieslawyer101.com/?p=35963 Going Public Lawyer

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

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Former CEO of Gerova Financial Gary Hirst Charged with Securities Fraud https://www.securitieslawyer101.com/2016/gerova-financial-gary-hirst-fraud/ Fri, 28 Oct 2016 04:00:29 +0000 https://www.securitieslawyer101.com/?p=35952 Going Public Lawyer

    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

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Aegis Oil and President Patrick Beason Charged with Oil and Gas Fraud https://www.securitieslawyer101.com/2016/aegis-oil-patrick-beason-fraud/ Thu, 27 Oct 2016 04:00:34 +0000 https://www.securitieslawyer101.com/?p=35950 Going Public Lawyer

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

Going Public Lawyer

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Nicholas Savva Charged with Defrauding Investors in His Hedge Fund https://www.securitieslawyer101.com/2016/nicholas-savva-fraud/ Wed, 26 Oct 2016 04:00:15 +0000 https://www.securitieslawyer101.com/?p=35944 Going Public Lawyer

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

Going Public Lawyer

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Robert Gadimian Charged with Insider Trading https://www.securitieslawyer101.com/2016/robert-gadimian-insider-trading/ Tue, 25 Oct 2016 04:00:25 +0000 https://www.securitieslawyer101.com/?p=35946 Going Public Lawyer

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

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SEC Charges Former Stockbroker Peter Kohli with Fraud and Orders an Asset Freeze https://www.securitieslawyer101.com/2016/peter-kohli-fraud/ Mon, 24 Oct 2016 04:00:08 +0000 https://www.securitieslawyer101.com/?p=35942 Going Public Lawyer

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

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SEC Charges CEO Craig Sizer of Microcap Company with Fraud https://www.securitieslawyer101.com/2016/craig-sizer-microcap-company-fraud/ Sun, 23 Oct 2016 04:00:02 +0000 https://www.securitieslawyer101.com/?p=35938 Going Public Lawyer

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

Going Public Lawyer

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Former IT Executive Charged in Computer Sciences Corporation Fraud Scheme https://www.securitieslawyer101.com/2016/it-executive-computer-sciences-corporation-fraud/ Sat, 22 Oct 2016 04:00:24 +0000 https://www.securitieslawyer101.com/?p=35932 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) announced on September 27, 2016 that a former IT executive at the Commonwealth Bank of Australia (CBA) has agreed to settle charges that he participated in a scheme to defraud Computer Sciences Corporation... Read More

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Jason Wallace Charged for Pump and Dump Scheme https://www.securitieslawyer101.com/2016/jason-wallace-charged-for-pump-and-dump-scheme/ Fri, 21 Oct 2016 04:00:31 +0000 https://www.securitieslawyer101.com/?p=35930 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) filed a civil injunctive action in the U.S. District Court for the Central District of California against Jason Wallace alleging that he violated the antifraud and registration requirements of the federal securities laws... Read More

Going Public Lawyer

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Alternative Fuel Company KiOR, Inc. Charged with Failure of Full Disclosure https://www.securitieslawyer101.com/2016/alternative-fuel-company-mard-inc-charged-failure-full-disclosure/ Thu, 20 Oct 2016 04:00:11 +0000 https://www.securitieslawyer101.com/?p=35928 Going Public Lawyer

On September 26, 2016, the Securities and Exchange Commission charged Texas-based Mard, Inc., formerly known as KiOR, Inc., and its former CEO and President Fred Cannon for failing to disclose important assumptions about the yield that KiOR had... Read More

Going Public Lawyer

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Court Enters Final Judgment Against Daniel Thibeault for $15 Million Fraud https://www.securitieslawyer101.com/2016/court-enters-final-judgment-daniel-thibeault-15-million-fraud/ Wed, 19 Oct 2016 04:00:55 +0000 https://www.securitieslawyer101.com/?p=35926 Going Public Lawyer

On September 26, 2016, the Honorable Nathaniel M. Gorton of the United States District Court for the District of Massachusetts entered a final judgment against Daniel Thibeault, of Framingham, Massachusetts. Thibeault is a defendant in an SEC enforcement... Read More

Going Public Lawyer

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The Regulation A+ Offering Process – Going Public Attorneys https://www.securitieslawyer101.com/2016/the-regulation-a-offering-process-going-public-attorneys/ Wed, 19 Oct 2016 04:00:17 +0000 https://www.securitieslawyer101.com/?p=31636 Going Public Lawyer

On June 19, 2015, Regulation A+ became effective. The new rules which were promulgated under the Jumpstart Our Business Startups Act (JOBS Act), create two Tiers of exempt offerings, both of which allow securities to be offered and sold to the... Read More

Going Public Lawyer

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Owners of North Star Finance LLC Charged with Fraud https://www.securitieslawyer101.com/2016/owners-of-north-star-finance-llc-charged-with-fraud/ Tue, 18 Oct 2016 15:00:38 +0000 https://www.securitieslawyer101.com/?p=35924 Going Public Lawyer

On September 21, 2016, North Star Finance LLC, G. Thomas Ellis, and Yasuo Oda entered consents to settle the SEC’s charges against them. Without admitting or denying the allegations in the SEC’s complaint, North Star, Ellis, and Oda... Read More

Going Public Lawyer

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Sheren Tsai and Colin Whelehan Charged with Insider Trading in Home Security Company https://www.securitieslawyer101.com/2016/tsai-whelehan-insider-trading/ Sun, 02 Oct 2016 04:00:08 +0000 https://www.securitieslawyer101.com/?p=35909 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) announced charges on September 22, 2016 against Sheren Tsai and Colin Whelehan for insider trading in advance of the acquisition of a home security company based on confidential information tipped to the trader by her... Read More

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Court Enters Final Judgment Against Lee Vacaro in Fraud Case https://www.securitieslawyer101.com/2016/lee-vaccaro-final-judgment/ Sat, 01 Oct 2016 04:00:35 +0000 https://www.securitieslawyer101.com/?p=35906 Going Public Lawyer

On September 16, 2016, the Honorable William J. Martini of the United States District Court for the District of New Jersey entered a judgment against defendant Lee Vaccaro that imposed permanent injunctions and an officer and director bar.... Read More

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Court Enters Final Judgment Against Saleem Khan and Roshanlal Chaganlal for Insider Trading Scheme https://www.securitieslawyer101.com/2016/final-judgment-saleem-khan-roshanlal-chaganlal/ Fri, 30 Sep 2016 04:00:54 +0000 https://www.securitieslawyer101.com/?p=35903 Going Public Lawyer

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

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Court Enters Final Judgment in Wings Network Pyramid Scheme Case https://www.securitieslawyer101.com/2016/final-judgment-wings-network/ Thu, 29 Sep 2016 04:00:51 +0000 https://www.securitieslawyer101.com/?p=35900 Going Public Lawyer

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

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Steven Metro Sentenced to 46 Months in Prison for Insider Trading Scheme https://www.securitieslawyer101.com/2016/steven-metro-46-months-in-prison-for-insider-trading/ Wed, 28 Sep 2016 04:00:59 +0000 https://www.securitieslawyer101.com/?p=35897 Going Public Lawyer

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

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Stock-Trading Whiz Kid and Company Wealthpire Inc. Charged with Fraud https://www.securitieslawyer101.com/2016/manuel-jesus-wealthpire-fraud/ Tue, 27 Sep 2016 04:00:43 +0000 https://www.securitieslawyer101.com/?p=35894 Going Public Lawyer

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

Going Public Lawyer

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SEC Charges Movie Exec Manu Kumaran https://www.securitieslawyer101.com/2016/sec-charges-manu-kumaran/ Mon, 26 Sep 2016 10:21:59 +0000 https://www.securitieslawyer101.com/?p=35912 Going Public Lawyer

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

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Court Enters Injunction Against Safety Technologies LLC and Its Owner https://www.securitieslawyer101.com/2016/court-enters-injunction-against-safety-technologies-llc-and-owner/ Mon, 26 Sep 2016 04:00:54 +0000 https://www.securitieslawyer101.com/?p=35890 Going Public Lawyer

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

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SEC Charges Tycoon Energy Inc and Its President with Running a $5.6 Million Fraud https://www.securitieslawyer101.com/2016/tycoon-energy-5-6-million-fraud/ Sun, 25 Sep 2016 04:00:36 +0000 https://www.securitieslawyer101.com/?p=35887 Going Public Lawyer

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

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Pro Basketball Player Defrauded by Investment Advisor Charles Banks https://www.securitieslawyer101.com/2016/charles-banks-fraud/ Sat, 24 Sep 2016 04:00:19 +0000 https://www.securitieslawyer101.com/?p=35884 Going Public Lawyer

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

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Mark Bloom and Firm North Hills Management LLC Charged with Fraud https://www.securitieslawyer101.com/2016/mark-bloom-north-hills-management-fraud-charges/ Fri, 23 Sep 2016 10:00:08 +0000 https://www.securitieslawyer101.com/?p=35879 Going Public Lawyer

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

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RPM International Charged with Disclosure and Accounting Failures https://www.securitieslawyer101.com/2016/rpm-charged-with-disclosure-failure/ Wed, 21 Sep 2016 04:00:34 +0000 https://www.securitieslawyer101.com/?p=35873 Going Public Lawyer

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

Going Public Lawyer

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Four Fraudsters Charged in Arco Hills Silica Mining Company Scheme https://www.securitieslawyer101.com/2016/four-charged-in-arco-hills-silica-scheme/ Sun, 11 Sep 2016 04:00:15 +0000 https://www.securitieslawyer101.com/?p=35795 Going Public Lawyer

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

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Guy Gentile Says FBI Double-Crossed Him https://www.securitieslawyer101.com/2016/guy-gentile-claims-fbi-double-cross/ Sat, 10 Sep 2016 17:56:20 +0000 https://www.securitieslawyer101.com/?p=35798 Going Public Lawyer

Stockbroker Guy Gentile was flying high as 2012 began.  In January, he gave an interview to the Nassau Guardian in which he predicted wild success for his new Bahamas brokerage, SureTrader, a division of Swiss America Securities, Ltd.,... Read More

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SEC Obtains Emergency Order to Prevent Anthony Buzaneli from Leaving U.S. https://www.securitieslawyer101.com/2016/sec-emergency-order-anthony-buzaneli/ Sat, 10 Sep 2016 04:00:56 +0000 https://www.securitieslawyer101.com/?p=35777 Going Public Lawyer

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

Going Public Lawyer

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Court Enters Final Judgment Against Jilbert Tahmazian in an Antifraud Action https://www.securitieslawyer101.com/2016/final-judgment-jilbert-tahmazian-antifraud-action/ Fri, 09 Sep 2016 04:00:31 +0000 https://www.securitieslawyer101.com/?p=35774 Going Public Lawyer

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

Going Public Lawyer

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Donald Watkins and his Companies Charged with Defrauding Investors https://www.securitieslawyer101.com/2016/donald-watkins-fraud/ Thu, 08 Sep 2016 04:00:00 +0000 https://www.securitieslawyer101.com/?p=35770 Going Public Lawyer

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

Going Public Lawyer

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Court Enters Final Judgments Against Promotors of Fraud Company Wings Network https://www.securitieslawyer101.com/2016/wings-network-final-judgment/ Wed, 07 Sep 2016 04:00:00 +0000 https://www.securitieslawyer101.com/?p=35762 Going Public Lawyer

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

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SEC Files Complaint Against Dennis Hamilton of Harman International Industries https://www.securitieslawyer101.com/2016/sec-files-complaint-against-executive-of-harman-international-industries/ Tue, 06 Sep 2016 04:00:12 +0000 https://www.securitieslawyer101.com/?p=35757 Going Public Lawyer

  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

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SEC Charges Enviro Board Corporation and Two Executives with Fraud https://www.securitieslawyer101.com/2016/sec-charges-enviro-board-and-two-executives-with-fraud/ Mon, 05 Sep 2016 04:00:12 +0000 https://www.securitieslawyer101.com/?p=35753 Going Public Lawyer

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

Going Public Lawyer

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SEC Files Subpoena Against Edward Panos and His Wife for Penny Stock Fraud https://www.securitieslawyer101.com/2016/sec-files-subpoena-against-edward-panos-for-penny-stock-fraud/ Sun, 04 Sep 2016 04:00:10 +0000 https://www.securitieslawyer101.com/?p=35750 Going Public Lawyer

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

Going Public Lawyer

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SEC Charges Secured Income Reserve and Former Officers with Fraud https://www.securitieslawyer101.com/2016/secured-income-reserve-and-former-officers-charged-with-fraud/ Sat, 03 Sep 2016 04:00:50 +0000 https://www.securitieslawyer101.com/?p=35738 Going Public Lawyer

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

Going Public Lawyer

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Cedric Cañas Charged with Insider Trading and Ordered to Pay Over $1.1 Million https://www.securitieslawyer101.com/2016/cedric-canas-charged-with-insider-trading/ Fri, 02 Sep 2016 04:00:47 +0000 https://www.securitieslawyer101.com/?p=35735 Going Public Lawyer

  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

Going Public Lawyer

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John Ragsdale Charged with Aiding and Abetting Penny Stock Fraud https://www.securitieslawyer101.com/2016/john-ragsdale-charged-with-aiding-and-abetting-penny-stock-fraud/ Wed, 31 Aug 2016 04:00:37 +0000 https://www.securitieslawyer101.com/?p=35729 Going Public Lawyer

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

Going Public Lawyer

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Michael Andre Jones Charged for Fraudulent Offering and Sales of Unregistered Securities https://www.securitieslawyer101.com/2016/michael-jones-charged-for-fraudulent-sale-unregistered-securities/ Tue, 30 Aug 2016 04:00:52 +0000 https://www.securitieslawyer101.com/?p=35726 Going Public Lawyer

On August 22, 2016 the Securities and Exchange Commission (“SEC”) announced that, on August 19, 2016, the SEC filed a settled civil action in U.S. District Court for the District of Columbia against Michael Andre Jones, alleging that he conducted... Read More

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Court Enters Final Judgment Against Patrick O’Neill in Insider Trading Case https://www.securitieslawyer101.com/2016/patrick-oneill-insider-trading/ Mon, 29 Aug 2016 04:00:56 +0000 https://www.securitieslawyer101.com/?p=35723 Going Public Lawyer

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

Going Public Lawyer

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Sean Stewart Found Guilty of Insider Trading https://www.securitieslawyer101.com/2016/sean-stewart-found-guilty-of-insider-trading/ Sun, 28 Aug 2016 04:00:30 +0000 https://www.securitieslawyer101.com/?p=35714 Going Public Lawyer

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

Going Public Lawyer

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Stockbroker Paul Rampoldi Charged with Insider Trading https://www.securitieslawyer101.com/2016/paul-rampoldi-charged-with-insider-trading/ Sat, 27 Aug 2016 04:00:34 +0000 https://www.securitieslawyer101.com/?p=35710 Going Public Lawyer

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

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Global Digital Solutions of West Palm Beach, FL and CEO Charged with Fraud https://www.securitieslawyer101.com/2016/global-digital-solutions-and-ceo-charged-with-fraud/ Fri, 26 Aug 2016 04:00:04 +0000 https://www.securitieslawyer101.com/?p=35707 Going Public Lawyer

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

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Sameer and Praveen Sethi Found in Contempt of Court After Injuction https://www.securitieslawyer101.com/2016/sameer-and-praveen-sethi-contempt-of-court/ Thu, 25 Aug 2016 04:00:19 +0000 https://www.securitieslawyer101.com/?p=35699 Going Public Lawyer

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

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Edwin Ruh Jr. and His Firm Charged for a Fraudulent Securities Offering https://www.securitieslawyer101.com/2016/sec-charges-edwin-ruh-jr-and-his-firm-with-a-fraudulent-securities-offering/ Wed, 24 Aug 2016 04:00:32 +0000 https://www.securitieslawyer101.com/?p=35695 Going Public Lawyer

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

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Three Officers of Brokerage Firm Global Transition Solutions Charged with Fraud https://www.securitieslawyer101.com/2016/global-transition-charged-with-fraud/ Tue, 23 Aug 2016 04:00:34 +0000 https://www.securitieslawyer101.com/?p=35691 Going Public Lawyer

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

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Football Player Merrill Robertson Jr. Charged with Running a $10 Million Fraud https://www.securitieslawyer101.com/2016/merrill-robertson-jr-with-running-a-10-million-fraud/ Mon, 22 Aug 2016 04:00:36 +0000 https://www.securitieslawyer101.com/?p=35702 Going Public Lawyer

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

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Investment Advisor Patrick Churchville Pleads Guilty to Running $21 Million Ponzi https://www.securitieslawyer101.com/2016/patrick-churchville-guilty-running-21-million-ponzi/ Mon, 22 Aug 2016 04:00:36 +0000 https://www.securitieslawyer101.com/?p=35687 Going Public Lawyer

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

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Cardiologist Dr. Edward Kosinski Charged with Insider Trading https://www.securitieslawyer101.com/2016/cardiologist-dr-edward-kosinski-charged-with-insider-trading/ Sun, 21 Aug 2016 04:00:55 +0000 https://www.securitieslawyer101.com/?p=35684 Going Public Lawyer

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

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Posted by Brenda Hamilton – Sandy Winick Sentenced https://www.securitieslawyer101.com/2016/posted-brenda-hamilton-sandy-winick-sentenced/ Sat, 20 Aug 2016 17:01:44 +0000 https://www.securitieslawyer101.com/?p=35675 Going Public Lawyer

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

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Leonid Momotok Pleads Guilty to Conspiracy to Commit Wire Fraud https://www.securitieslawyer101.com/2016/leonid-momotok-pleads-guilty-to-conspiracy-to-commit-wire-fraud/ Thu, 18 Aug 2016 04:00:20 +0000 https://www.securitieslawyer101.com/?p=35670 Going Public Lawyer

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

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Court Enters Final Judgment Against Kenneth Rampino for Insider Trading https://www.securitieslawyer101.com/2016/court-enters-final-judgment-against-kenneth-rampino-for-insider-trading/ Wed, 17 Aug 2016 04:00:11 +0000 https://www.securitieslawyer101.com/?p=35663 Going Public Lawyer

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

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Court Finds Jeffry and Paul Downey and John Leonard Guilty of Oil and Gas Fraud https://www.securitieslawyer101.com/2016/court-finds-jeffry-paul-downey-john-leonard-guilty-oil-and-gas-fraud/ Tue, 16 Aug 2016 04:00:15 +0000 https://www.securitieslawyer101.com/?p=35654 Going Public Lawyer

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

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Three Fraudsters on a Shopping Spree Met with an Asset Freeze https://www.securitieslawyer101.com/2016/three-fraudsters-on-shopping-spree-met-with-asset-freeze/ Mon, 15 Aug 2016 04:00:10 +0000 https://www.securitieslawyer101.com/?p=35630 Going Public Lawyer

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

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SEC Charges the Luca Entities with Eb-5 Investment Fraud https://www.securitieslawyer101.com/2016/luca-entities-investment-fraud/ Sun, 14 Aug 2016 04:00:45 +0000 https://www.securitieslawyer101.com/?p=35617 Going Public Lawyer

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

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Rosalind Herman Sentenced to 7 Years, Ordered to Pay Nearly $2 Million in Restitution https://www.securitieslawyer101.com/2016/rosalind-herman-sentenced-to-7-years-ordered-to-pay-nearly-2-million-in-restitution/ Sat, 13 Aug 2016 04:00:54 +0000 https://www.securitieslawyer101.com/?p=35609 Going Public Lawyer

On July 27, 2016, Rosalind Herman, a relief defendant in an ongoing SEC fraud action, was sentenced to seven years in federal prison and ordered to pay $1,819,391 in restitution in a parallel criminal case. Herman and her... Read More

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Charles Scoville & Traffic Monsoon Charged In Ponzi Scheme https://www.securitieslawyer101.com/2016/charles-scoville-traffic-monsoon/ Fri, 12 Aug 2016 04:00:55 +0000 https://www.securitieslawyer101.com/?p=35605 Going Public Lawyer

On July 26, 2016 the Securities and Exchange Commission (“SEC”) announced that it obtained an asset freeze against the operator of an international Ponzi scheme that raised more than $207 million from investors worldwide, primarily in the U.S., India, and... Read More

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JNL Oilfield Instruments and Founder Jeffery McCollum Charged with Operating a Ponzi Scheme https://www.securitieslawyer101.com/2016/jnl-oilfield-instruments-and-founder-jeffery-mccollum-charged-with-operating-a-ponzi-scheme/ Thu, 11 Aug 2016 04:00:41 +0000 https://www.securitieslawyer101.com/?p=35600 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) announced that it has charged Odessa, Texas-based JNL Oilfield Instruments, LLC and its founder Jeffery McCollum with operating a multi-year Ponzi scheme. According to the SEC’s complaint filed in the U.S. District Court... Read More

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Attorney Herbert Sudfeld Sentenced to 6 Months Imprisonment for Insider Trading https://www.securitieslawyer101.com/2016/herbert-sudfeld-sentenced-to-6-months-for-insider-trading/ Wed, 10 Aug 2016 04:00:15 +0000 https://www.securitieslawyer101.com/?p=35592 Going Public Lawyer

On July 22, 2016, Judge Cynthia M. Rufe of the U.S. District Court for the Eastern District of Pennsylvania sentenced former attorney Herbert Sudfeld, Jr. to six months imprisonment followed by three years of supervised release and 150... Read More

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Court Enters Final Judgment Against Michael Cain https://www.securitieslawyer101.com/2016/sec-michael-cain/ Mon, 08 Aug 2016 04:00:59 +0000 https://www.securitieslawyer101.com/?p=35562 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) announced that on July 20, 2016, the Honorable Charles Pannell of the United States District Court for the Northern District of Georgia entered a final judgment against Michael Sean Cain. In its complaint,... Read More

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SEC Nails Pot Stock Promoters https://www.securitieslawyer101.com/2016/pot-stock/ Sun, 07 Aug 2016 12:23:54 +0000 https://www.securitieslawyer101.com/?p=35584 Going Public Lawyer

On July 9, the Securities & Exchange Commission (“SEC”) settled with Alexander Hawatmeh and Christopher Mrowca who allegedly received more than $2.5 million by manipulating penny stock  pot stocks.  According to the proposed judgments filed in the US District... Read More

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FINRA Amends Regulation NMS https://www.securitieslawyer101.com/2016/finra-amends-regulation-nms/ Sat, 06 Aug 2016 12:22:16 +0000 https://www.securitieslawyer101.com/?p=35581 Going Public Lawyer

The Financial Industry Regulatory Authority  has adopted amendments to its rules related to the operation of the Regulation NMS Plan to Address Extraordinary Volatility following a trading pause or regulatory halt.  FINRA Rule 6121.01 (Resumption of Trading in Securities... Read More

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Court Issues Asset Freeze Over James Hugh Brennan and Douglas Albert Dyer in Fraud Case https://www.securitieslawyer101.com/2016/court-issues-asset-freeze-over-james-hugh-brennan-and-douglas-albert-dyer-in-fraud-case/ Sat, 06 Aug 2016 04:00:08 +0000 https://www.securitieslawyer101.com/?p=35557 Going Public Lawyer

On July 22, 2016, the Honorable Travis R. McDonough of the Eastern District of Tennessee entered a court-ordered asset freeze to halt an ongoing fraud by two former brokers with disciplinary histories who allegedly raised more than $5... Read More

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SEC Charges Jeffrey Wilson, Former CEO of Imperial Petroleum with Securities Fraud https://www.securitieslawyer101.com/2016/sec-charges-jeffrey-wilson-former-ceo-of-imperial-petroleum-with-securities-fraud/ Thu, 04 Aug 2016 04:00:20 +0000 https://www.securitieslawyer101.com/?p=35552 Going Public Lawyer

On July 20, 2016, the SEC charged Jeffrey Wilson, the former CEO of Imperial Petroleum, Inc., and a defendant in a SEC civil enforcement action, with 19 counts of securities fraud and other violations of federal law on July... Read More

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Court Enters Final Judgment Against Tyson Williams and Stanley Parrish in Fraud Case https://www.securitieslawyer101.com/2016/court-enters-final-judgment-against-two-defendants-in-fraud-case/ Tue, 02 Aug 2016 04:00:15 +0000 https://www.securitieslawyer101.com/?p=35546 Going Public Lawyer

On July 18, 2016, the U.S. District Court for the District of Utah entered final judgments against Tyson Williams and Stanley Parrish, both of whom were charged by the SEC in 2014 in connection with the sale of securities... Read More

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SEC Charges Thomas Conrad and His Son with Fraud https://www.securitieslawyer101.com/2016/father-and-son-thomas-and-stuart-conrad-charged-with-fraud/ Mon, 01 Aug 2016 00:09:23 +0000 https://www.securitieslawyer101.com/?p=35541 Going Public Lawyer

On Friday, July 15, 2016, the Securities and Exchange Commission (“SEC”) charged Thomas Conrad, Jr. and his son, Stuart Conrad, and their two unregistered advisory firms, Financial Management Corporation (“FMC”) and Financial Management Corporation, S.R.L. (“FMC Uruguay”), with defrauding... Read More

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Vineet Kalucha Sentenced to Federal Prison for Obstructing Investigation https://www.securitieslawyer101.com/2016/vineet-kalucha-sentenced-to-federal-prison-for-obstructing-investigation/ Sat, 30 Jul 2016 16:36:25 +0000 https://www.securitieslawyer101.com/?p=35525 Going Public Lawyer

Vineet Kalucha was sentenced to fifteen months in prison in a parallel criminal case after pleading guilty to charges that he obstructed justice in an investigation conducted by the SEC. Vineet Kalucha, whose sentence was handed down on July... Read More

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OTC Markets 101 – The Basics of Listing https://www.securitieslawyer101.com/2016/otc-markets-101/ Sat, 30 Jul 2016 14:36:35 +0000 https://www.securitieslawyer101.com/?p=35531 Going Public Lawyer

Posted by Brenda Hamilton, Securities and Going Public Lawyer OTC Markets Group (“OTC Markets”) requires companies seeking quotation of their securities on the OTCQB® Venture Stage Marketplace (“OTCQB”) have an initial and ongoing $0.01 per share minimum bid price,... Read More

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Thomas and Stuart Conrad Charged With Securities Fraud https://www.securitieslawyer101.com/2016/thomas-and-stuart-conrad-charged-with-securities-fraud/ Mon, 25 Jul 2016 15:11:55 +0000 https://www.securitieslawyer101.com/?p=35518 Going Public Lawyer

On Friday, July 15, 2016, the Securities and Exchange Commission (“SEC”) charged two residents of Alpharetta, Georgia, Thomas Conrad, Jr. and his son, Stuart Conrad, and their two unregistered advisory firms, Financial Management Corporation (“FMC”) and Financial Management... Read More

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Judgments Entered Against Tyson Williams and Stanley Parrish https://www.securitieslawyer101.com/2016/judgments-entered-against-tyson-williams-and-stanley-parrish/ Mon, 25 Jul 2016 14:08:11 +0000 https://www.securitieslawyer101.com/?p=35511 Going Public Lawyer

On July 18, 2016, the U.S. District Court for the District of Utah entered final judgments against Tyson D. Williams and Stanley D. Parrish, both of whom were charged by the SEC in 2014 with fraud in connection... Read More

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Jeffrey Wilson, the former CEO of Imperial Petroleum Found Guilty https://www.securitieslawyer101.com/2016/jeffrey-wilson-the-former-ceo-of-imperial-petroleum-found-guilty/ Sat, 23 Jul 2016 13:22:09 +0000 https://www.securitieslawyer101.com/?p=35507 Going Public Lawyer

On July 22, 2016, Jeffrey Wilson, the former CEO of Indiana-based Imperial Petroleum, Inc., and a defendant in a SEC civil enforcement action, was found guilty of 19 counts of securities fraud and other violations of federal law... Read More

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When is a Foreign Private Issuer Required to File Form 6-K? https://www.securitieslawyer101.com/2016/sec-form-6-k/ Mon, 18 Jul 2016 20:40:44 +0000 https://www.securitieslawyer101.com/?p=35492 Going Public Lawyer

Foreign Private Issuers that are subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, (the “Exchange Act), must provide periodic reports to the Securities & Exchange  Commission. These include an annual report on Form 20-F... Read More

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SEC Regulation A+ Meeting on Emerging Companies https://www.securitieslawyer101.com/2016/sec-meeting-on-emerging-companies/ Sun, 17 Jul 2016 20:04:00 +0000 https://www.securitieslawyer101.com/?p=35482 Going Public Lawyer

On July 14, 2016, the Securities and Exchange Commission (“SEC”) announced the agenda for its July 19 meeting of its Advisory Committee on Small and Emerging Companies.  The SEC Committee will focus on the first year of Regulation A+,... Read More

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Permanent SEC Bar Against Joseph Apuzzo of Terex Corporation Entered https://www.securitieslawyer101.com/2016/joseph-apuzzo-sec-bar-terex-corporation/ Thu, 23 Jun 2016 15:31:02 +0000 https://www.securitieslawyer101.com/?p=35430 Going Public Lawyer

On May 5, 2016, Judge Alvin W. Thompson of the U.S. District Court for the District of Connecticut granted the SEC’s motion for an officer and director bar against Joseph F. Apuzzo, former Chief Financial Officer of Terex... Read More

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The SEC Announces Securities Fraud In ForceField Energy https://www.securitieslawyer101.com/2016/the-sec-forcefield-energy/ Mon, 20 Jun 2016 15:45:15 +0000 https://www.securitieslawyer101.com/?p=35423 Going Public Lawyer

On May 3, 2016, the SEC announced  securities fraud charges against 10 individuals involved in cash bribes and other kickbacks to registered representatives and unregistered brokers who solicited investors to buy stock in ForceField Energy Inc. The SEC... Read More

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IHUB Pushes Back to COR Clearing Subpoena in Calissio Case https://www.securitieslawyer101.com/2016/ihub-cor-subpoena-calissio-case/ Fri, 10 Jun 2016 21:56:11 +0000 https://www.securitieslawyer101.com/?p=35393 Going Public Lawyer

We last wrote about the complex litigation involving Calissio Resources Group (CRGP) in February.  It arose out of a controversy surrounding the company’s payment of a special dividend of $0.011 a share in August 2015.  At the time... Read More

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Operation Bermuda Short In Retrospect https://www.securitieslawyer101.com/2016/bermuda-short-in-retrospect/ Mon, 30 May 2016 13:46:11 +0000 https://www.securitieslawyer101.com/?p=35366 Going Public Lawyer

Many penny stocks have bad histories, or are associated with questionable players.  Only last December, convicted felon Edward Durante was civilly and criminally charged in a securities fraud and manipulation scheme he’d embarked upon immediately after leaving prison... Read More

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Court Enters Final Judgments in Sky Capital Boiler Room Case https://www.securitieslawyer101.com/2016/court-enters-final-judgments-in-sky-capital-boiler-room-case/ Mon, 02 May 2016 04:00:09 +0000 https://www.securitieslawyer101.com/?p=35357 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) announced that on April 8th the Honorable Paul A. Crotty of the United States District Court for the Southern District of New York entered final judgments on consent against defendants Stephen Shea,... Read More

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Court Sentences Michael Donnelly to 99 Months Imprisonment and $1.99 Million in Restitution https://www.securitieslawyer101.com/2016/court-sentences-michael-donnelly-to-99-months-imprisonment-and-1-99-million-in-restitution/ Sun, 01 May 2016 04:00:09 +0000 https://www.securitieslawyer101.com/?p=35354 Going Public Lawyer

The Securities and Exchange Commission (“SEC”) announced today that, on April 11, 2016, a federal court in Philadelphia, Pennsylvania sentenced Michael Donnelly of Lecanto, Florida, to 99 months imprisonment, to be followed by three years of supervised release,... Read More

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SEC Charges Former Head of GTM, Khaled Bassily with Fraud https://www.securitieslawyer101.com/2016/sec-charges-former-head-of-gtm-khaled-bassily-with-fraud/ Sat, 30 Apr 2016 04:00:29 +0000 https://www.securitieslawyer101.com/?p=35348 Going Public Lawyer

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

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Servergy Inc. and William Mapp Charged for Purporting False Information About Product https://www.securitieslawyer101.com/2016/servergy-inc-and-william-mapp-charged-for-purporting-false-information-about-product/ Fri, 29 Apr 2016 04:00:56 +0000 https://www.securitieslawyer101.com/?p=35340 Going Public Lawyer

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

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Rosalind Herman Convicted of Defrauding Investors of Over $1.3 Million https://www.securitieslawyer101.com/2016/rosalind-herman-convicted-of-defrauding-investors-of-over-1-3-million/ Wed, 20 Apr 2016 04:00:43 +0000 https://www.securitieslawyer101.com/?p=35337 Going Public Lawyer

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

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Jonathan Fraiman Sentenced to Six Years’ Imprisonment for Mail Fraud https://www.securitieslawyer101.com/2016/jonathan-fraiman-sentenced-to-six-years-imprisonment-for-mail-fraud/ Tue, 19 Apr 2016 04:00:07 +0000 https://www.securitieslawyer101.com/?p=35330 Going Public Lawyer

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

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David Aubel and Robert Raffa Charged with Stock Manipulation Scheme https://www.securitieslawyer101.com/2016/david-aubel-and-robert-raffa-charged-with-stock-manipulation-scheme/ Mon, 18 Apr 2016 04:00:26 +0000 https://www.securitieslawyer101.com/?p=35326 Going Public Lawyer

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

Going Public Lawyer

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SEC Charges John Scott Clark with Securities Fraud https://www.securitieslawyer101.com/2016/sec-charges-john-scott-clark-with-securities-fraud/ Sun, 17 Apr 2016 04:00:38 +0000 https://www.securitieslawyer101.com/?p=35318 Going Public Lawyer

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

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SEC Charges Nathanial Ponn with Defrauding Several Brokerage Firms https://www.securitieslawyer101.com/2016/sec-charges-nathanial-ponn-with-defrauding-several-brokerage-firms/ Sat, 16 Apr 2016 04:00:19 +0000 https://www.securitieslawyer101.com/?p=35310 Going Public Lawyer

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

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Navistar International Reaches Settlement Agreement with SEC https://www.securitieslawyer101.com/2016/navistar-international-reaches-settlement-agreement-with-sec/ Fri, 15 Apr 2016 04:00:43 +0000 https://www.securitieslawyer101.com/?p=35300 Going Public Lawyer

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

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Daniel and Matthew Rivera Charged for Running a Ponzi Scheme Directed at Seniors https://www.securitieslawyer101.com/2016/daniel-and-matthew-rivera-charged-for-running-a-ponzi-scheme-directed-at-seniors/ Thu, 14 Apr 2016 04:00:00 +0000 https://www.securitieslawyer101.com/?p=35297 Going Public Lawyer

  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

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When Short Sellers Hit Cannabis Stocks https://www.securitieslawyer101.com/2016/when-shorts-hit-cannabis-stocks/ Wed, 13 Apr 2016 04:00:34 +0000 https://www.securitieslawyer101.com/?p=35304 Going Public Lawyer

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

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SEC Charges Andrew Caspersen with Defrauding Two Institutions https://www.securitieslawyer101.com/2016/sec-charges-andrew-caspersen-with-defrauding-two-institutions/ Tue, 12 Apr 2016 14:37:18 +0000 https://www.securitieslawyer101.com/?p=35278 Going Public Lawyer

The Securities and Exchange Commission (SEC) charged a New York-based securities professional with defrauding two institutions he solicited to invest in a shell company he controlled whose name was deceptively similar to that of a legitimate private equity... Read More

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TV New Commentator Agrees to Settle SEC’s Charges https://www.securitieslawyer101.com/2016/tv-new-commentator-agrees-to-settle-secs-charges/ Tue, 12 Apr 2016 14:06:38 +0000 https://www.securitieslawyer101.com/?p=35274 Going Public Lawyer

The Securities and Exchange Commission (SEC) announced that a former market analyst and TV news commentator has agreed to settle charges that he and his company fraudulently promoted a penny stock to investors. The SEC alleges that Tobin Smith and... Read More

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AVEO Pharmaceuticals Misleads Investors About FDA Approval of New Drug https://www.securitieslawyer101.com/2016/aveo-pharmaceuticals-misleads-investors-about-fda-approval-of-new-drug/ Sat, 09 Apr 2016 04:00:22 +0000 https://www.securitieslawyer101.com/?p=35270 Going Public Lawyer

The Securities and Exchange Commission announced fraud charges against a Massachusetts-based biotech company and three former executives for misleading investors about the company’s efforts to obtain Food and Drug Administration (FDA) approval for its flagship developmental drug to... Read More

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Stanley Kowalewski Sentenced to 18 Years’ Imprisonment for Wire Fraud and Obstruction of Justice https://www.securitieslawyer101.com/2016/stanley-kowalewski-sentenced-to-18-years-imprisonment-for-wire-fraud/ Fri, 08 Apr 2016 04:00:19 +0000 https://www.securitieslawyer101.com/?p=35265 Going Public Lawyer

On March 25, 2016, the Honorable Richard W. Story of the United States District Court for the Northern District of Georgia sentenced Stanley Kowalewski to 18 years’ imprisonment for defrauding the investors in his hedge funds and obstructing... Read More

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SEC Charges John Bivona and Saddle River Advisors with Fraud https://www.securitieslawyer101.com/2016/sec-charges-john-bivona-and-saddle-river-advisors-with-fraud/ Thu, 07 Apr 2016 04:00:59 +0000 https://www.securitieslawyer101.com/?p=35261 Going Public Lawyer

On March 25, 2016 the Securities and Exchange Commission (SEC) announced fraud charges and asset freezes obtained in a case filed against a New Jersey-based fund manager and two firms he controls that marketed shares in promising pre-IPO tech... Read More

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Court Holds James Louks and FiberPop Solutions in Civil Contempt https://www.securitieslawyer101.com/2016/court-holds-james-louks-and-fiberpop-solutions-in-civil-contempt/ Wed, 06 Apr 2016 04:00:14 +0000 https://www.securitieslawyer101.com/?p=35254 Going Public Lawyer

The Securities and Exchange Commission (SEC) announced that the Honorable Patrick J. Schiltz of the United States District Court for the District of Minnesota has entered an order holding defendants James Louks and FiberPoP Solutions, Inc. in civil... Read More

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CEO of TierOne Bank Sentenced to 11 Years in Prison https://www.securitieslawyer101.com/2016/ceo-of-tierone-bank-sentenced-to-11-years-in-prison/ Tue, 05 Apr 2016 04:00:26 +0000 https://www.securitieslawyer101.com/?p=35248 Going Public Lawyer

The Securities and Exchange Commission (SEC) announced that on March 23, 2016, Gilbert Lundstrom, the former chairman of the board and CEO of TierOne Bank, based in Nebraska, was sentenced to 11 years in federal prison and ordered... Read More

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SEC Enters Settlement with Perpetrators of an Alleged Hacked News Release Scheme https://www.securitieslawyer101.com/2016/sec-enters-settlement-with-perpetrators-of-an-alleged-hacked-news-release-scheme/ Mon, 04 Apr 2016 04:00:54 +0000 https://www.securitieslawyer101.com/?p=35243 Going Public Lawyer

The Securities and Exchange Commission (SEC) announced on March 24, 2016 that it had entered into settlement agreements, subject to court approval, with defendants David Amaryan, Copperstone Alpha Fund, Copperstone Capital, Intertrade Pacific SA, Ocean Prime Inc., Guibor... Read More

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Court Finds Leon Parvizian and His Two Companies Liable on All Counts for Oil and Gas Fraud https://www.securitieslawyer101.com/2016/court-finds-leon-parvizian-and-his-two-companies-liable-on-all-counts-for-oil-and-gas-fraud/ Sun, 03 Apr 2016 20:17:25 +0000 https://www.securitieslawyer101.com/?p=35238 Going Public Lawyer

The Securities and Exchange Commission (SEC) announced on March 24, 2016 that a federal court in Texas found promoters of fraudulent oil and gas investments liable all counts. The Honorable Ed Kinkeade of the United States District Judge for... Read More

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Guy Gentile Charged with Operating a Penny Stock Manipulation Scheme https://www.securitieslawyer101.com/2016/guy-gentile-charged-with-operating-a-penny-stock-manipulation-scheme/ Sat, 02 Apr 2016 04:00:15 +0000 https://www.securitieslawyer101.com/?p=35215 Going Public Lawyer

On March 23, 2016, the Securities and Exchange Commission (SEC) charged Guy Gentile, a resident of Putnam Valley, New York, with perpetrating penny stock manipulation schemes. The SEC alleges that Gentile, who at the time operated as a... Read More

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Court Enters Judgments Custodianship Shell Amogear Stock Scheme https://www.securitieslawyer101.com/2016/court-enters-judgments-against-five-fraudsters-in-amogear-stock-scheme/ Fri, 01 Apr 2016 04:00:19 +0000 https://www.securitieslawyer101.com/?p=35210 Going Public Lawyer

On March 23, 2016, the Securities and Exchange Commission (SEC) announced that the federal court in Boston, Massachusetts entered judgments by consent against Andrew Affa, Michael Affa, Mitchell Brown, Christopher Putnam, and Christopher Nix in a fraud action... Read More

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Court Enters Nearly $2 Million Judgment Against Gregory Jones for Defrauding Investors https://www.securitieslawyer101.com/2016/court-enters-nearly-2-million-judgment-from-gregory-jones-for-defrauding-investors/ Thu, 31 Mar 2016 04:00:32 +0000 https://www.securitieslawyer101.com/?p=35205 Going Public Lawyer

The Securities and Exchange Commission (SEC) announced on March 23, 2016 that a federal court has ordered a nearly $2 million judgment from an attorney who admitted to defrauding investors in two fraudulent schemes. The Honorable John McBryde,... Read More

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Court Enters Final Judgment Against Fraudster Bruce Strebinger https://www.securitieslawyer101.com/2016/court-enters-final-judgment-against-fraudster-bruce-strebinger/ Wed, 30 Mar 2016 04:00:54 +0000 https://www.securitieslawyer101.com/?p=35193 Going Public Lawyer

The Securities and Exchange Commission (SEC) announced on March 21, 2016 that on March 15, 2016, the Honorable Leigh Martin May of the United States District Court for the Northern District of Georgia entered a final judgment against defendant Bruce... Read More

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Former Microsoft Manager Charged with Insider Trading Ahead of Acquisition of Nokia https://www.securitieslawyer101.com/2016/former-microsoft-manager-charged-with-insider-trading-ahead-of-acquisition-of-nokia/ Tue, 29 Mar 2016 04:00:00 +0000 https://www.securitieslawyer101.com/?p=35190 Going Public Lawyer

The Securities and Exchange Commission (SEC) announced on March 18, 2016 that former Microsoft Corporation senior manager, John Hardy III has agreed to pay nearly $380,000 to settle charges that he traded on material nonpublic information about Microsoft’s... Read More

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The Bad Actor Rule of Rule 506(d) https://www.securitieslawyer101.com/2016/the-bad-actor-rule-of-rule-506d/ Mon, 28 Mar 2016 19:08:06 +0000 https://www.securitieslawyer101.com/?p=35231 Going Public Lawyer

According to a recent Securities & Exchange Commission (“SEC”) report, thousands of businesses raise billions of dollars in capital through offerings exempt from registration under Regulation D of the Securities Act of 1933, as amended. Rule 506 is... Read More

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Court Enters Final Judgment Against Insider Trading Defendant Yue Han https://www.securitieslawyer101.com/2016/court-enters-final-judgment-against-insider-trading-defendant-yue-han/ Mon, 28 Mar 2016 04:00:37 +0000 https://www.securitieslawyer101.com/?p=35181 Going Public Lawyer

  On March 16, 2016, the Court for the Southern District of New York entered a final judgment against defendant Yue Han, based on insider trading charges filed by the Securities and Exchange Commission (SEC) against Han on November... Read More

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SEC Charges Mark Jones for a Ponzi Scheme Purporting to Offer “Bridge Loans” to Jamaican Businesses https://www.securitieslawyer101.com/2016/sec-charges-mark-jones-for-a-ponzi-scheme-purporting-to-offer-bridge-loans-to-jamaican-businesses/ Mon, 28 Mar 2016 04:00:31 +0000 https://www.securitieslawyer101.com/?p=35178 Going Public Lawyer

  On March 15, 2016, the Securities and Exchange Commission (SEC) charged former Boston resident Mark Jones with operating a $10 million Ponzi scheme that claimed to generate profits from “bridge loans” to businesses in Jamaica. The SEC... Read More

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CEO of RVPlus Charged with Soliciting Fake Contracts with Foreign Governments https://www.securitieslawyer101.com/2016/ceo-of-rvplus-charged-with-soliciting-fake-contracts-with-foreign-governments/ Sun, 27 Mar 2016 04:00:08 +0000 https://www.securitieslawyer101.com/?p=35175 Going Public Lawyer

The Securities and Exchange Commission (SEC) charged a microcap company CEO for falsely claiming to have a lucrative relationship with the United Nations and billions of dollars in clean energy contracts with foreign governments. The SEC alleges that... Read More

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SEC Charges Daniel Thibeault with Misappropriating Millions in Investor Funds https://www.securitieslawyer101.com/2016/sec-charges-daniel-thibeault-with-misappropriating-millions-in-investor-funds/ Sat, 26 Mar 2016 04:00:09 +0000 https://www.securitieslawyer101.com/?p=35173 Going Public Lawyer

On March 14, 2016 the Securities and Exchange Commission (SEC) announced that on March 3, 2016, Daniel Thibeault, the President/CEO of a group of Massachusetts-based investment advisory companies, pled guilty to criminal charges in connection with the misappropriation... Read More

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California Businessman Daniel Nase Stole Investor Funds and Tried to Conceal It https://www.securitieslawyer101.com/2016/california-businessman-daniel-nase-stole-investor-funds-and-tried-to-conceal-it/ Fri, 25 Mar 2016 04:00:42 +0000 https://www.securitieslawyer101.com/?p=35170 Going Public Lawyer

  On March 11, 2016 the Securities and Exchange Commission (SEC) announced fraud charges against California businessman Daniel Nase, accusing him of stealing investor assets and then trying to cover it up once the SEC caught onto his... Read More

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Nedko Nedev Charged for Fraudulent Scheme Related to the Stock of Avon Products https://www.securitieslawyer101.com/2016/nedko-nedev-charged-for-fraudulent-scheme-and-arrested/ Thu, 24 Mar 2016 04:00:48 +0000 https://www.securitieslawyer101.com/?p=35164 Going Public Lawyer

  The U.S. Securities and Exchange Commission (SEC) announced on March 11, 2016 that a federal grand jury in Manhattan has indicted Bulgarian resident Nedko Nedev for fraud relating to the stocks of Avon Products, Inc., Tower Group... Read More

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3 Executives of Aequitas Management LLC Charged with Fraud https://www.securitieslawyer101.com/2016/3-executives-of-aequitas-management-llc-charged-with-fraud/ Wed, 23 Mar 2016 04:00:58 +0000 https://www.securitieslawyer101.com/?p=35159 Going Public Lawyer

On March 11, 2016 the Securities and Exchange Commission (SEC) charged an Oregon-based investment group and three top executives with hiding the rapidly deteriorating financial condition of its enterprise while raising more than $350 million from investors. Aequitas... Read More

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Do State Blue Sky Laws Apply To Regulation D Offerings? https://www.securitieslawyer101.com/2016/do-state-blue-sky-laws-apply-to-regulation-d-offerings/ Wed, 23 Mar 2016 04:00:53 +0000 https://www.securitieslawyer101.com/?p=35197 Going Public Lawyer

    Issuers are sometimes unaware of the state laws that apply to offerings that are exempt under the federal securities laws. The purchase or sale of a security be subject to a registration statement under the Securities... Read More

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Uni-Pixel Inc. Charged with Misleading Investors About New Touchscreen Sensor Product https://www.securitieslawyer101.com/2016/uni-pixel-inc-charged-with-misleading-investors-about-new-touchscreen-sensor-product/ Tue, 22 Mar 2016 04:00:46 +0000 https://www.securitieslawyer101.com/?p=35156 Going Public Lawyer

The Securities and Exchange Commission (SEC) announced that Uni-Pixel Inc., developer of technologies for touchscreen devices, has agreed to pay $750,000 to settle charges that it misled investors about the production status and sales agreements for a key product.... Read More

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SEC Charges Jay Fung with Insider Trading in the Stock of Pharmasset Inc. https://www.securitieslawyer101.com/2016/sec-charges-jay-fung-with-insider-trading-in-the-stock-of-pharmasset-inc/ Tue, 22 Mar 2016 04:00:19 +0000 https://www.securitieslawyer101.com/?p=35152 Going Public Lawyer

On March 9, 2016 the Securities and Exchange Commission (SEC) announced that a Florida man trading on inside information ahead of a pharmaceutical company merger and a friend who tipped him have agreed to settle enforcement actions against... Read More

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Court Denies Motion to Reconsider Summary Judgment Against June Fujinaga https://www.securitieslawyer101.com/2016/court-denies-motion-to-reconsider-summary-judgment-against-june-fujinaga/ Mon, 21 Mar 2016 04:00:02 +0000 https://www.securitieslawyer101.com/?p=35148 Going Public Lawyer

On March 4, 2016, the Honorable James C. Mahan, United States District Judge for the District of Nevada, entered an order denying a motion for reconsideration of the final judgment filed by relief defendants June Fujinaga and her... Read More

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SEC Charges Banc de Binary with Acting as an Unregistered Broker-Dealer https://www.securitieslawyer101.com/2016/sec-charges-banc-de-binary-with-acting-as-an-unregistered-broker-dealer/ Sun, 20 Mar 2016 04:00:23 +0000 https://www.securitieslawyer101.com/?p=35140 Going Public Lawyer

The SEC filed a complaint in 2013 against Banc de Binary Ltd, its founder Oren Shabat Laurent, and three affiliates that operate an Internet-based based trading platform for “binary options.” One of these websites is www.bbinary.com. The SEC’s... Read More

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Wells Fargo and Rhode Island Agency Charged with Fraud https://www.securitieslawyer101.com/2016/wells-fargo-and-rhode-island-agency-charged-with-fraud/ Sat, 19 Mar 2016 04:00:07 +0000 https://www.securitieslawyer101.com/?p=35133 Going Public Lawyer

On March 7, 2016 the Securities and Exchange Commission (SEC) charged a Rhode Island agency and its bond underwriter Wells Fargo Securities with defrauding investors in a municipal bond offering to finance startup video game company 38 Studios.... Read More

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Court Reaches Verdict Against Daryl Payton and Benjamin Durant for Insider Trading https://www.securitieslawyer101.com/2016/court-reaches-verdict-against-daryl-payton-and-benjamin-durant-for-insider-trading/ Fri, 18 Mar 2016 04:00:59 +0000 https://www.securitieslawyer101.com/?p=35120 Going Public Lawyer

The Securities and Exchange Commission (SEC) has obtained a jury verdict in its favor in a federal district court trial in Manhattan against Daryl Payton and Benjamin Durant, III, who the agency charged with trading on inside information... Read More

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Court Enters Final Judgments Against Zachary Zwerko and David Post https://www.securitieslawyer101.com/2016/court-enters-final-judgments-against-zachary-zwerko-and-david-post/ Thu, 17 Mar 2016 04:00:36 +0000 https://www.securitieslawyer101.com/?p=35116 Going Public Lawyer

The Securities and Exchange Commission (SEC) announced that on March 1, 2016, the Honorable Richard J. Sullivan of the United States District Court for the Southern District of New York entered final judgments on consent against defendants Zachary... Read More

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