Illicit Earnings - Securities l Corporate l Business Law

William Apostelos and His Companies Charged with Fraud

The SEC released charges on October 30, 2015 alleging that William Apostelos and his companies, WMA Enterprises, Midwest Green Resources, and OVO Wealth Management conducted a fraudulent investment scheme. The complaint claims that the companies raised at least… Read More

Former Executives of OCZ Technology Group Charged with Fraud

The Securities and Exchange Commission (SEC) on October 6, 2015, charged two former top executives at OCZ Technology Group, Inc. for accounting failures at the now-bankrupt seller of computer memory storage and power supply devices. In a complaint filed in… Read More

SEC Charges Steve Chen With Fraud and Imposes Asset Freeze

On September 22, 2015, the Securities and Exchange Commission (SEC) filed, under seal, fraud charges and, on September 28, obtained asset freezes against the operator of a worldwide pyramid scheme that falsely promised investors would profit from a… Read More

Final Judgement Entered Against Amyot And Spencer Pharmaceutical

The Securities and Exchange Commission (SEC) announced October 1, 2015 that on September 30, 2015, the United States District Court for the District of Massachusetts issued an order setting final judgments in an enforcement action filed in December 2012 against… Read More

Charles Riel and REinvest LLC Charged with Securities Fraud

On September 29, 2015, the Securities and Exchange Commission (SEC) charged a company and its manager with securities fraud of their investors by promising them outlandish “low risk” investment returns and then misusing the investors’ money to, among other… Read More

Five Florida Residents Charged by the SEC With Insider Trading

The Securities and Exchange Commission (SEC) on September 28, 2015 charged five Florida residents, including a lawyer and an accountant with insider trading before the acquisition of Pharmasset Inc. by Gilead Sciences Inc. The SEC filed a complaint claiming that attorneys Robert Spallina and… Read More

Former Officers of SMF Energy Corp Charged by the SEC with Fraud

The Securities and Exchange Commission (SEC) on September 25, 2015, announced financial fraud charges against four former SMF Energy Corp officers, claiming that former CEO Richard E. Gathright, former chief financial officer Michael S. Shore, former chief accounting… Read More