SEC Action - Securities & Forensic Lawyers

SEC Files Action Against Ariel Quiros & Jay Peak Resort

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

SEC Charges Demitrios Hallas for Defrauding Customers

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

Magyar Telekom Executives Agree to Pay Penalties

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

SEC Charges Brothers for Hydrocarb Fraud Scheme

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

Legend Securities Named Respondent for Various Claims

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

SEC Announces Temporary Trading Suspension of Bingo Nation

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

SEC Files for Stock Promotion Schemes Against 27 Individuals & Entities

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

SEC Charges Traders For Insider Trading – Posted by Brenda Hamilton

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

SEC Charges Jerry Miller in Petrotech Oil Fraud

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

SEC Charges Lek Securities – Posted by Brenda Hamilton

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