SEC Pursues Unregistered Dealers, Toxic Financing, Toxic Convertible Notes
2020 has been a historic year for Securities and Exchange Commission ("SEC") enforcement action against toxic lenders as unregistered dealers.
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Rule 15c2-11 Compliance Deadline Is Just Around the Corner
In September of last year, the Securities and Exchange Commission (the “SEC”) adopted amendments to Securities Exchange Act Rule 15c2-11. In early 2020, we…
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SEC Charges Mark Miller for Hijacking Inactive Penny Stock Companies to use for Pump & Dump Schemes
On Friday, June 18th, the SEC filed a Complaint in the United States District Court for the District of Minnesota against Minnesota…
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SEC Charges RenovaCare, Inc and its Controlling Shareholder with Securities Fraud
On May 28, 2021, the SEC charged RenovaCare Inc (RCAR) and its controlling shareholder, Harmel S. Rayat, with securities fraud for intentionally…
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SEC Charges Healthcare Company and Its Founder with Multimillion Dollar Fraud
On May 19, 2021, the Securities and Exchange Commission charged a New Jersey-based healthcare company and its founder, Josiah David (formerly known…
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Going Public: Myths and Misinformation about Reverse Mergers
Myths and misinformation: The truth behind reverse mergers. What is really the best way to go public? Direct Public Offering vs Reverse…
Read MoreDavid C. Coggins Sentenced for $1.3 Million Securities Fraud Scheme
On Friday, May 14, 2021, David C Coggins, 42, of Miami, was sentenced to 51 months in prison, followed by 36 months…
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There has never been a better time to be a Whistleblower
Since the start of the whistleblower program, the SEC has received more than 26,000 whistleblower submissions. Those tips have led to more…
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SEC Charges Broker-Dealer for Failures Related to Filing Suspicious Activity Reports
The Securities and Exchange Commission announced settled charges against GWFS Equities Inc. (GWFS), a Colorado-based registered broker-dealer and affiliate of Great-West Life…
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Mark Lisser Pleads Guilty to Securities Fraud Conspiracy
Earlier today, in federal court in Central Islip, Mark Lisser pleaded guilty to securities fraud conspiracy for lying to customers about investments…
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SEC Charges Under Armour Inc With Disclosure Failures
The Securities and Exchange Commission charged sports apparel manufacturer Under Armour Inc. with misleading investors as to the basis of its revenue…
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Court Enters Judgments Against Promoters in Pump-And-Dump Scheme
The Securities and Exchange Commission announced that the U.S. District Court for the Central District of California entered final judgments against the…
Read MoreTD Ameritrade to restrict orders in Caveat Emptor designated OTC securities to liquidating trades only
According to a statement posted on the TD Ameritrade website, the popular trading platform will restrict orders in Caveat Emptor designated OTC…
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Robinhood Legal Battle Updates
The Securities and Exchange Commission case against Robinhood Financial moved one step closer to a payout when the SEC issued an Order…
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SEC Charges Ubong Uboh and Tyler Crockett for Using a Call Room to Manipulate Stocks
On April 20, 2021, the Securities and Exchange Commission filed charges against Ubong Uboh and Tyler Crockett for soliciting investors to purchase…
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SEC Cleans up OTC Markets – SEC Trading Suspension of 71 Penny Stocks
On February 14, 2021, we published an article alerting the public about what we calculated to be the start of a new…
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SEC Says Unregistered Dealer Almagarby’s Convertible Notes Are Toast
On August 17, 2020, Judge Marcia G. Cooke, persuaded by the SEC’s arguments, handed down an order granting the SEC’s motion for…
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The SEC charges Giuliani Associates Lev Parnas and David Correia
On February 4, 2021, the U.S. Securities and Exchange Commission announced charges against two associates of Rudy Giuliani, the former New York…
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Two Recidivists That Met Behind Bars Busted for Securities Fraud
On January 8, 2021, the Securities and Exchange Commission announced settled charges against a Utah corporation, its principals, Mark W Wiseman and…
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SEC Amends Rule 144 for Convertible Notes and Unregistered Dealers
On December 22, 2020, the Securities and Exchange Commission (“SEC”) voted to propose amendments to Rule 144 to eliminate tacking for shares…
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