Can-Cal & SkyStar Temporarily Suspended

The U.S. Securities and Exchange Commission (“Commission”) announced the temporary suspension of trading in the securities of the following issuers, commencing at 9:30 a.m. EDT on June 9, 2017 and terminating at 11:59 p.m. EDT on June 22,… Read More

David Fuselier Charged for Fraudulent Scheme

On June 6, 2017, the Securities and Exchange Commission (“SEC”) charged David Fuselier, a chief executive officer, with perpetrating a fraudulent scheme to create the false appearance of improvement in the financial statements of two publicly traded companies… Read More

Marc Broidy & Broidy Wealth Advisors Receive Final Judgement

On May 30, 2017, the Honorable Eric N. Vitaliano of the United States District Court for the Eastern District of New York entered a final consent judgment against defendants Marc Broidy and Broidy Wealth Advisors, LLC (“BWA”), enjoining… Read More

Final Judgement Against GAW Miners and ZenMiner

On June 2, 2017, the U.S. District Court for the District of Connecticut entered a final default judgment against two Connecticut-based companies, GAW Miners, LLC and ZenMiner, LLC, in a case alleging that these companies and their principal… Read More

SEC Charges iPayment Executives with Fraud

On March 10, 2017, the Securities and Exchange Commission (“SEC”) charged two former iPayment executives, a credit card processing company, with masterminding a fraudulent scheme to steal millions of dollars through phony expense reimbursements, inflated invoices, and other improper… Read More

Nima Hedayati Charged With Insider Trading

On March 14, 2017, the Securities and Exchange Commission (“SEC”) announced that Nima Hedayati, an auditor based in the Silicon Valley, has agreed to settle charges that he traded on inside information about a client on the verge of… Read More

Alpine Securities Fails to Comply to Anti-Money Laundering Law

On June 5, 2017, the Securities and Exchange Commission (“SEC”) charged Alpine Securities Corporation, a Salt Lake City-based brokerage firm, with securities law violations related to its alleged practice of clearing transactions for microcap stocks that were used in… Read More

Larry Holley Charged with Fraud

On March 30, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges and an emergency asset freeze obtained against Larry Holley, a Michigan-based pastor, accused of exploiting church members, retirees, and laid-off auto workers who were misled to… Read More

LottoNet Accused of Conducting Boiler Room Scheme

On March 27, 2017, the Securities and Exchange Commission (“SEC”) announced charges against LottoNet Operating Corp., a Florida-based company, its CEO, and its top sales agent accused of conducting a boiler room scheme that solicits investments in a business… Read More

Lawson Financial Corporation Settles Fraud Charges

On April 5, 2017, the Securities and Exchange Commission (“SEC”) announced that Lawson Financial Corporation, an Arizona-based brokerage firm, its CEO, and its former underwriter’s counsel have agreed to settle charges related to municipal bond offerings they were underwriting… Read More

John Bocchino Barred by FINRA

On June 1, 2017, the Financial Industry Regulatory Authority (“FINRA”) announced that it has barred former Morgan Stanley Smith Barney registered representative John Bocchino for concealing approximately $190 million in Venezuelan bond trades from the firm, which had… Read More

Medbox Charged by the SEC

On March 9, 2017, the Securities and Exchange Commission (“SEC”) charged Medbox, a California-based company, and its founder with falsely touting “record” revenue numbers to investors and claiming to be a leader in the marijuana industry while some of… Read More

Verto Capital Settles Charges for Ponzi-like Scheme

On May 4, 2017, the Securities and Exchange Commission (“SEC”) announced that Verto Capital Management, a New Jersey-based firm, and its CEO have agreed to pay more than $4 million to settle charges that they used new investor money… Read More

Desarrolladora Homex Settle Fraud Charges

On March 3, 2017, the Securities and Exchange Commission (“SEC”) announced that Mexico-based homebuilding company Desarrolladora Homex S.A.B. de C.V. has agreed to settle charges that it reported fake sales of more than 100,000 homes to boost revenues in… Read More

MagnaChip & CFO Settle Accounting Fraud Charges

On May 1, 2017, the Securities and Exchange Commission (“SEC”) announced that MagnaChip, a South Korea-based semiconductor manufacturer, and its former CFO have agreed to settle charges related to an accounting scheme to artificially boost revenue and manipulate the… Read More

Centers for Medicare and Medicaid Services Employees Charged with Insider Trading

On May 24, 2017, the Securities and Exchange Commission (“SEC”) announced charges in an alleged insider trading scheme involving tips of nonpublic information about government plans to cut Medicare reimbursement rates by former Centers for Medicare and Medicaid Services… Read More

SEC Files Fraud Charges Against Robert Murray

On May 19, 2017, the Securities and Exchange Commission (“SEC”) filed fraud charges against Robert Murray, a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. According to the… Read More

SEC Charges David Humphrey with Securities Fraud

On May 9, 2017, the Securities and Exchange Commission (“SEC”) charged David Humphrey, a former employee, with securities fraud in connection with his trading of options and other securities. The SEC’s complaint alleges that David Humphrey, who worked… Read More

Barclays Capital Required to Refund Advisory Fees by SEC

On May 10, 2017, the Securities and Exchange Commission (“SEC”) announced an enforcement action requiring Barclays Capital to refund advisory fees or mutual fund sales charges to clients who were overcharged. In a settlement of more than $97 million,… Read More

Miles Nadal Settles $5.5 Million for SEC Case

On May 11, 2017, the Securities and Exchange Commission (“SEC”) announced that Miles Nadal, the former CEO of a marketing company, has agreed to pay $5.5 million to settle charges that his perks were not properly disclosed to shareholders. Public… Read More

SEC Charges Nomura Securities International Inc. Head Traders

On May 15, 2017, the Securities and Exchange Commission (“SEC”) charged a pair of former head traders who ran the commercial mortgage-backed securities (CMBS) desk at Nomura Securities International Inc. with deliberately lying to customers in order to… Read More

Walter Little and Neighbor Charged by SEC for Insider Trading

On May 11, 2017, the Securities and Exchange Commission (“SEC”) charged Walter Little, a former partner at an international law firm, and his neighbor with making more than $1 million in illicit profits by insider trading around corporate… Read More

Axesstel Fails to Comply with Exchange Act

On April 24, 2017, the Securities and Exchange Commission (“SEC”) deemed it necessary and appropriate for the protection of investors that public administrative proceedings be, and hereby are, instituted pursuant to Section 12(j) of the Securities Exchange Act… Read More

Jared Galanis Pleads Guilty, SEC Suspends Him

On April 24, 2017, the Securities and Exchange Commission (“SEC”) deemed it appropriate to issue an order of forthwith suspension of Jared Galanis pursuant to Rule 102(e)(2) of the Commission’s Rules of Practice (17 C.F.R. § 200.102(e)(2)), which… Read More

SEC Suspends Mark McKinnies

On April 21, 2017, the Securities and Exchange Commission (“SEC”) deemed it appropriate and in the public interest that public administrative proceedings are instituted against Mark McKinnies pursuant to Rule 102(e)(3)(i) of the Commission’s Rules of Practice. Rule 102(e)(3)(i)… Read More

SEC Charges Matthew Krimm with Defrauding Investors

On April 25, 2017, the Securities and Exchange Commission (“SEC”) charged Matthew Krimm, a former mortgage loan officer, with defrauding investors, including mortgage loan customers of his former employer. The SEC’s complaint, filed in federal court in Wilmington,… 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

Whistleblower Awarded Almost $4 Million by SEC

On April 25, 2017, the Securities and Exchange Commission (“SEC”) announced an award of nearly $4 million to a whistleblower who tipped the agency with detailed and specific information about serious misconduct and provided additional assistance during the… Read More

SEC Charges Avaneesh Krishnamoorthy with Insider Trading

On April 24, 2017, the Securities and Exchange Commission (“SEC”) charged Avaneesh Krishnamoorthy, a vice president in the risk management department of a New York-based investment bank, with insider trading on confidential information he learned in advance of a… Read More

SEC Charges Kevin Amell with Fraud

On April 24, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Kevin Amell, a Massachusetts-based portfolio manager accused of diverting at least $1.95 million to his personal brokerage account from a fund over which he… Read More