Securities Law Blog - Securities & Going Public Lawyers

President of TelexFree James Merrill Pleads Guilty to Running Pyramid Scheme

On October 24, 2016, James M. Merrill, of Ashland, Massachusetts, the former president of TelexFree, Inc. and TelexFree, LLC, pled guilty to criminal charges related to his operating a pyramid scheme through TelexFree. On May 9, 2014, Merrill… Read More

Marc Broidy Charged with Defrauding Investors in 3 Separate Schemes

On October 27, 2016 the Securities and Exchange Commission (“SEC”) charged a Los-Angeles based investment advisory firm and its owner, Marc Broidy with fraudulently overbilling clients and stealing assets from their trusts to pay such personal expenses as his… Read More

Brazilian Airplane Manufacturer Embraer S.A. Charged with FCPA Violations

The Securities and Exchange Commission (“SEC”) announced a global settlement along with the U.S. Department of Justice and Brazilian authorities that requires aircraft manufacturer Embraer S.A. to pay more than $205 million to resolve alleged violations of the Foreign… Read More

Executive of Pinnacle Financial Partners James Cope Charged with Insider Trading

On October 21, 2016 the Securities and Exchange Commission (“SEC”) charged a James Cope, a Tennessee lawyer who served on the executive committee of the board of directors of Nashville-based Pinnacle Financial Partners with insider trading based on nonpublic… Read More

Christopher Salis and Douglas and Edward Miller Charged with Insider Trading

A federal grand jury in the Northern District of Indiana has indicted Christopher Salis, Douglas Miller, and Edward Miller on charges relating to insider trading, money laundering, and structuring currency transactions. The 17-count indictment also charges Douglas Miller… Read More

Lime Energy Co. and Four Execs Charged with Accounting Fraud

On October 17, 2016 the Securities and Exchange Commission (“SEC”) charged Lime Energy Co., an energy services provider and four of its executives for their roles in an accounting fraud in which the company recognized revenue earlier than allowed… Read More

Court Enters Final Judgment Against Coleman Flaherty in CitySide Tickets Fraud

On October 4, 2016, the Honorable Nathaniel M. Gorton of the United States District Court for the District of Massachusetts entered final judgments by consent against Coleman Flaherty III and Thomas Brazil for their roles in defrauding investors… Read More

Ikenna Ikokwu Charged with Recommending Tax Lien Investment Scheme to Clients

The Securities and Exchange Commission (“SEC”) announced fraud charges against Ikenna Ikokwu, an investment adviser who recommended a Ponzi-like tax lien investment scheme to his clients. According to the SEC’s complaint, filed in the U.S. District Court for… Read More

Cannabis Company Infinex Ventures and CEO Ronald Salem Charged with Fraud

On September 30, 2016, the Securities and Exchange Commission (“SEC”) filed fraud charges against cannabis company Infinex Ventures, Inc. and its CEO Ronald Salem. According to the SEC’s complaint filed in the U.S. District Court for the District of Colorado,… Read More

Former CEO of Gerova Financial Gary Hirst Charged with Securities Fraud

    On September 28, 2016, a federal court jury in New York, New York convicted Gary Hirst, the former CEO and President of Gerova Financial Group Ltd., of securities fraud, wire fraud and conspiracy charges. The criminal… Read More