AntiFraud Provisions - Securities l Corporate l Business Law

SEC Orders Merrill Lynch to Return More than $10.5 Million to Harmed Customers

  The Securities and Exchange Commission (“SEC”) announced on June 12, 2018 that Merrill Lynch, Pierce, Fenner & Smith Inc. will pay more than $15 million to settle charges that its employees misled customers into overpaying for Residential… Read More

Steven Pagartanis Charged for Defrauding Customers

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

SEC Charges Niket Shah and Spark Trading for Targeting Retail Investors

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

Court Issues Final Judgment Against Auditor Timothy Quintanilla

The United States Securities and Exchange Commission (SEC) announced that, on December 4, 2015, the Court for the Southern District of New York issued a final judgment, on consent of defendant Timothy Quintanilla, which permanently enjoined him from violating… Read More