SEC Charges Beaufort Securities for Manipulative Trading in Microcap Penny Stocks
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
What SEC Disclosure Is Required By Section 17(b) For Investor Relations Firms?
Section 17(b) of the Securities Act of 1933 requires anyone who advertises a stock, even if he does not purport to offer the security for sale to disclose the “consideration received or to be received, directly or indirectly,… Read More
Americrude Charged by SEC – Posted by Brenda Hamilton, Securities Attorney
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
SEC Charges Elizabeth Holmes and Theranos Inc – Securities Lawyers
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
SEC Charges Jon E. Montroll and Bitfunder with Bitcoin Fraud
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
SEC Charges McKinley Mortgage with Scheme to Defraud – Posted by Brenda Hamilton
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
SEC Charges Robert Ritch in Penny Stock Plan to Pump Stock
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
SEC Charges Brian Sodi, the Penny Stock “Mailman” With Scalping Investors In Gold Mining Stocks
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
John Venditto and Oyster Bay Charged by SEC
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
Randall James Settles Fraud Charges
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
Osiris Therapeutics Charged With Accounting Fraud
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
Thomas Buck Settles Charges
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
JustInfo LLC Charged for a Futures Trading Scheme
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
John Rogicki Charged with Stealing $9 Million
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
SEC Charges Attorney Marc Celello
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
Robert Stewart Receives Final Judgement
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
Scott Newsholme Charged with Stealing Investor Funds
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
Final Judgement Obtained Against Louis Martin Blazer III
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
Thrift Savings Plan Used In Fraud Case
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
Charges Announced Against John Thomas Financial
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
Final Judgement Obtained Against Andrew Farmer
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
Final Judgement Against Stephen Ferrone
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
Joey Dodson Charged with Fraud
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
Alanah, Ascenergy and Gabaldon Final Judgement
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
Michael Trahan Charged for Insider Trading
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
Flowers and Nevett Charged with Fraud
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
SEC Bars David Lubin
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
Default Judgement on Yu-Cheng Lin Insider Trading Charges
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
Steven Labriola Receives Final Judgement
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
SEC Announces Fraud Charges Against Diana Lovera
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
