Steven Pagartanis Charged for Defrauding Customers
On May 30, 2018, the Securities and Exchange Commission (“SEC”) charged a former Long Island registered representative with defrauding long-standing brokerage customers in an $8 million investment scam. According to the SEC, Steven Pagartanis, who was an associate with… Read More
Constellation Healthcare Technologies Executives Charged with Fraud
On May 16th, 2018, the Securities and Exchange Commission (“SEC”) charged three former executives for Constellation Healthcare Technologies Inc. (Constellation), a Houston- based company, who falsified financial and other information they provided to a private firm while negotiating… Read More
Chardan Capital Charged by SEC
On May 16, 2018, the Securities and Exchange Commission (“SEC”) charged Chardan Capital Markets LLC (Chardan Capital) and Industrial and Commercial Bank of China Financial Services LLC (ICBCFS), a New York City based brokerage firm, alleging the report… Read More
SEC Charges Gregory Bercowy with Market Manipulation Scheme
On April 4, 2018, the Securities and Exchange Commission (“SEC”) charged Gregory Bercowy with a fraudulent scheme to manipulate the stock price of Aureus, Inc., a penny stock company incorporated in Nevada. The SEC alleges that between August… Read More
Resales of Restricted Stock l Securities Lawyer 101
It is routine for public companies and private companies seeking to go public to place restrictive legends (“Restrictive Legends” on the certificates representing their Restricted Stock not covered by a registration statement under the Securities Act of 1933, as amended (the… Read More
SEC Charges Andrew Kandelapas in Penny Stock Fraud Scheme
On April 13, 2018, the Securities and Exchange Commission charged Andrew Kandelapas with making false and misleading statements in the company’s SEC filings and press releases and with manipulating the company’s stock. The SEC’s complaint against Andrew Kandalepas,… Read More
John Milne Sentenced to Two Years Imprisonment for Failing to Pay Millions to SEC
On April 17, 2018, a federal district court sentenced the John Milne to two years imprisonment for violating the conditions of his supervised release by failing to pay court-ordered disgorgement in a civil action brought by the Securities… Read More
SEC Charges Clifton Stanley in Multimillion Dollar Ponzi Scheme Targeting Seniors
On April 6, 2018, the Securities and Exchange Commission charged Clifton Stanley in a $2.4 million Ponzi scheme and in a related, $1.4 million offering fraud targeting retirees. The SEC’s complaint alleges that, from 2010 to 2017, Clifton… Read More
Capital Cove Bancorp LLC and Christopher Lee aka Rashid Khalfani Charged with Defrauding Investors to Pay Over $3.8 Million
On April 11, 2018, a federal district court has ordered Christopher Lee aka Rashid Khalfani, whom the Securities and Exchange Commission charged in 2015 with pocketing money raised from investors, to pay over $3.8 million in disgorgement and… Read More
SEC Charges Saverio Barbera with Insider Trading
On April 5, 2018, the Securities and Exchange Commission charged Saverio Barbera with tipping his brother and father with material nonpublic information about an upcoming corporate acquisition. The SEC’s complaint, filed in the United States District Court for… Read More
SEC Obtains Final Judgment Against Merrill Robertson Charged With Running $10 Million Fraud
On April 5, 2018, a federal district court in Richmond, Virginia has entered a final judgment against Merrill Robertson, Jr., a former football player charged by the Securities and Exchange Commission with defrauding investors, including coaches he knew from his… Read More
SEC Charges John Jumper with Stealing Millions from a Pension Plan
On April 18, 2018 the Securities and Exchange Commission charged John Jumper with stealing approximately $5.7 million from a Pennsylvania company’s pension plan. According to the SEC’s complaint filed in federal court in Memphis, Tennessee, on three separate… Read More
Shane Fleming Charged with Insider Trading
On September 29, 2017, the Securities and Exchange Commission charged Shane Fleming, a middleman tipper, and six traders with insider trading ahead of the announcement that the company would be purchased and taken private. In a complaint filed… Read More
SEC Charges Michael Scronic with Engaging in Ponzi-like Scheme
On April 4, 2018, the Securities and Exchange Commission charged Michael Scronic with fraud stemming from lies to retail investors about the value of their investments in a Ponzi-like scheme. The SEC alleges that, starting in approximately 2010,… Read More
SEC Charges Michael Liberty with Fraudulent Scheme to Defraud Investors and Misappropriate Funds
On April 4, 2018, the Securities and Exchange Commission charged Michael Liberty, the founder of the fintech startup now known as Mozido, Inc., with a fraudulent scheme to trick hundreds of investors into investing in his shell companies… Read More
Court Grants Summary Judgment Motion against Iftikar Ahmed
On March 29, 2018, a federal district court in Connecticut granted the SEC’s motion for summary judgment as to the liability of Iftikar Ahmed alleged to have fraudulently diverted money from the venture capital funds he advised. The… Read More
SEC Charges Amrit Chahal with Fraud
On April 16, 2018, the Securities and Exchange Commission charged Amrit Chahal with orchestrating an investment scheme over several years. The SEC’s complaint alleges that, from at least February 2015, Amrit Chahal, of Fairfax, Va., used his company,… Read More
SEC Detects William Gennity and Rocco Roveccio Defrauding Customers
On September 28, 2017, the Securities and Exchange Commission charged William Gennity and Rocco Roveccio with making unsuitable recommendations that resulted in substantial losses to customers and hefty commissions for the brokers. One of the brokers agreed to… Read More
Christopher Lollar Settles Charges of Insider Trading Ahead of Oil Discovery Announcement
On April 4, 2018, Christopher Lollar has agreed to settle SEC charges that he conducted insider trading ahead of a market-moving announcement about the company’s discovery of a significant new oil source. The SEC alleges in its complaint,… Read More
Going Public Bootcamp – Going Public Attorneys – Securities Lawyer 101
The going public process involves a number of steps that vary depending on the characteristics of the private company wishing to go public, and whether it will become subject to the Securities and Exchange Commission (“SEC”) reporting … Read More
SEC Obtains Final Judgment Against Vincent Cassano Charged with Fraudulent Stock Promotion Scheme
On April 10, 2018, the U.S. District Court for the Western District of Washington entered a final judgment against Vincent Cassano for his role in a fraudulent stock promotion scheme. According to the SEC’s complaint, Lidingo Holdings, LLC hired… Read More
Cannabis Law Trends
Author: Mitchell Collins Laws regarding the growing, selling and using of cannabis have been trending toward decriminalization and legalization for years, but the path to full legalization has been long and winding. The subject of cannabis is complicated… Read More
JH Darbie Charged in Calissio Resources Scam – Securities Lawyer 101
On March 27, 2018, the Securities and Exchange Commission (SEC) announced a settled administrative proceeding against broker-dealer J.H. Darbie & Co., Inc., and Robert Y. Rabinowitz, Darbie’s majority owner and CEO. On its surface, the suit… Read More
William Schantz and Verto Capital Management LLC Settle Claims for Additional Investments in Scheme Involving Life Settlements
On February 27, 2018, the United States District Court for the District of New Jersey entered an amended judgment against Verto Capital Management LLC and William Schantz, of Moorestown, New Jersey. Verto Capital Management LLC and William Schantz… Read More
SEC Charges Charlie Chen and Shui Foon Mok in Multi-Year Trading Scheme
On April 5, 2018, The Securities and Exchange Commission charged Charlie Chen for making an extraordinarily profitable series of unlawful trades in the securities of Massachusetts-based VistaPrint, N.V. According to the SEC’s complaint, Charlie Chen used private information… Read More
Mohammed Rashid Charged With Secretly Billing Clients for His Vacations and Salon Visits
On October 25, 2017, the Securities and Exchange Commission charged Mohammed Rashid, a former senior partner at Apollo Management L.P., with defrauding his fund clients by secretly billing them for approximately $290,000 in personal expenditures, including his family… Read More
Which Companies Are Eligible for Regulation A + Offerings?
A correctly designed Regulation A Offering Program can minimize your financial risk and significantly enhance your ability to raise money, but not how you may think. Both issuers and selling shareholders can benefit from Regulation A +. A… Read More
