David Dreslin and Michael Toups charged with Orchestrating a Fraudulent Public Shell Company Scheme
The SEC announced on December 3,2018 fraud charges against a Florida-based CPA, a former broker, and his spouse, for their roles in a fraudulent scheme involving the creation and sale of a public shell company and false regulatory… Read More
SEC Accepts Settlement Offer Against Ricardo Goldman
On November 29, 2018, the SEC determined to accept the Offer of Settlement which was submitted by Ricardo Goldman. A resident of Miami, Florida,Ricardo Goldman was a broker with an unregistered broker-dealer, American Capital Group. From at least… Read More
SEC Obtains Final Judgement Against Steven Newman
On November 9, 2018, the Honorable Nicholas G. Garaufis of the United States District Court for the Eastern District of New York entered a final judgment against defendant Steven Newman. The final judgment imposes on Newman a permanent… Read More
SEC Charges Four in Fraudulent Microcap Manipulation Scheme Orchestrated Through International Account
The SEC charged Morrie Tobin and three other individuals for their roles in a scheme to profit from the manipulation and illegal sale of stock of two publicly traded companies, Environmental Packaging Technologies Holdings, Inc. and CURE Pharmaceutical… Read More
Silence of the Lawyers – The Defense of Ross Mandell
Imagine you were a businessman whose company operated in New York and London, and whose stock traded on the AIM, the London Stock Exchange’s venture market. One day in 2006, your New York offices are raided by the… Read More
Court Enters Final Judgment in Case Against Immigration Lawyer, Steve Qi and His Law Firm
On November 5, 2018, a U.S. District Court for the Central District of California entered a final judgment on consent against immigration attorney, Steve Qi, and his law firm who were charged with violations in connection with the… Read More
Hurricane Restoration Company and Executives Settle SEC Accounting Fraud Charges
The former CEO and CFO of a now-defunct Dallas and New Orleans-based disaster remediation and construction business, Home Solutions of America, Inc have agreed to pay disgorgement and penalties to settle accounting fraud charges brought by the SEC…. Read More
SEC Announces Resolution of Civil and Criminal Actions Against Former CFO of Information Technology Company
The Securities and Exchange Commission announced on November 15, 2018, the resolution of three actions against the CFO of a Chicago-area information technology company, who was previously charged by the SEC and the U.S. Attorney’s Office. Dhru Desai… Read More
SEC Announces Settlement in Fraud Case Against Cornelius Peterson
On January 31, 2018, the Commission filed a complaint in the United States District Court for the District of Massachusetts charging Cornelius Peterson and his former colleague, James Polese, with securities fraud for engaging in various schemes to… Read More
SEC Settles Claims Against James V. Mazzo Former Chairman/CEO of Advanced Medical Optics, Inc.
The SEC announced on November 14, 2018, that it has agreed to resolve its insider trading claims against James Mazzo, the former Chairman and Chief Executive Officer of Advanced Medical Optics, Inc.for allegedly tipping information about his company’s… Read More
SEC Charges Mark Burnett, Jeffrey Miller, Christian Romandetti, Frank Sarro, Anthony Vassallo, and Elite Stock Research
On November 15, 2018, the Securities and Exchange Commission (“SEC”) brought charges against a Long Island, New York-based boiler room previously sued for defrauding elderly and unsophisticated investors. The charges allege that First Choice Healthcare Solutions Inc. CEO Christian Romandetti,… Read More
Five Public Companies Charged With Failing to Comply With Form 10-Q Requirements
The Securities and Exchange Commission announced charges against five public companies for failing to provide financial statements that were reviewed by their independent external auditor when they filed quarterly reports with the Commission on Form 10-Q. Regulation S-X… Read More
SEC Awards Almost $4 Million to Overseas Whistleblower
The Securities and Exchange Commission announced that it has awarded nearly $4 million to an overseas whistleblower whose tip led it to open an investigation and whose extensive assistance helped it bring a successful enforcement action. “Whistleblowers, whether… Read More
Press Release SEC Charges Unregistered Sales of Securities Issued Under EB-5 Immigrant Investor Program
The Securities and Exchange Commission announced that an Illinois-based regional center, its CEO, and 37 affiliated limited partnerships have agreed to settle charges related to securities issued under the EB-5 Immigrant Investor Program, which provides foreigners who invest… Read More
Business Services Company Barrett Business Services Inc. and Former CFO James D. Miller Charged With Accounting Fraud
The Securities and Exchange Commission charged the former chief financial officer of Barrett Business Services Inc. for his role in an accounting fraud involving BBSI’s workers’ compensation expenses. The SEC also charged BBSI in the accounting fraud and… Read More
SEC Obtains Relief to Fully Reimburse Retail Investors Sold Unsuitable Product By Cadaret, Grant & Co. Inc.
The Securities and Exchange Commission announced it has obtained monetary relief that will fully reimburse retail investors for losses on a leveraged oil-linked exchange-traded note (ETN) that registered representatives of Syracuse, New York-based broker-dealer and investment adviser Cadaret,… Read More
Business Services Company Barrett Business Services Inc. and Former CFO James D. Miller Charged With Accounting Fraud
The Securities and Exchange Commission charged the former chief financial officer of Barrett Business Services Inc. for his role in an accounting fraud involving BBSI’s workers’ compensation expenses. The SEC also charged BBSI in the accounting fraud and… Read More
SEC Shuts Down $345 Million Fraud and Obtains Asset Freeze From Kevin B. Merrill, Jay B. Ledford, And Cameron Jezierski
The Securities and Exchange Commission announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than $345 million from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze and the… Read More
Biopharmaceutical Company Clovis Oncology Inc. & Executive Patrick Mahaffy Charged With Misleading Investors About Cancer Drug
The Securities and Exchange Commission announced that a Boulder, Colorado-based biopharmaceutical company, its CEO, and its former CFO will pay more than $20 million in penalties to settle charges of misleading investors about the company’s developmental lung cancer… Read More
SeaWorld and Former CEO James Atchison to Pay More Than $5 Million to Settle Fraud Charges
The Securities and Exchange Commission today announced that SeaWorld Entertainment Inc. and its former CEO have agreed to pay more than $5 million to settle fraud charges for misleading investors about the impact the documentary film Blackfish had on the… Read More
SEC Charges Citigroup for Dark Pool Misrepresentations
The Securities and Exchange Commission entered an order finding that Citigroup Global Markets Inc. misled users of a dark pool operated by one of its affiliates. The SEC’s order found that Citigroup misled users with assurances that high-frequency… Read More
Broker-Dealer Cowen Execution Services LLC to Pay $2.75 Million Penalty for Providing Deficient Blue Sheet Data
The Securities and Exchange Commission announced that Convergex Execution Solutions LLC, now known as Cowen Execution Services LLC, will pay $2.75 million to settle charges that the broker-dealer firm provided the SEC with incomplete and deficient securities trading… Read More
