Sheren Tsai and Colin Whelehan Charged with Insider Trading in Home Security Company
The Securities and Exchange Commission (“SEC”) announced charges on September 22, 2016 against Sheren Tsai and Colin Whelehan for insider trading in advance of the acquisition of a home security company based on confidential information tipped to the trader by her… Read More
Court Enters Final Judgment Against Lee Vacaro in Fraud Case
On September 16, 2016, the Honorable William J. Martini of the United States District Court for the District of New Jersey entered a judgment against defendant Lee Vaccaro that imposed permanent injunctions and an officer and director bar…. Read More
Court Enters Final Judgment Against Saleem Khan and Roshanlal Chaganlal for Insider Trading Scheme
The Securities and Exchange Commission (“SEC”) announced on September 21, 2016 that the Honorable Haywood S. Gilliam of the U.S. District Court for the Northern District of California entered a final judgment against defendants Saleem Khan and Roshanlal Chaganlal ordering the… Read More
Court Enters Final Judgment in Wings Network Pyramid Scheme Case
A federal court in Boston, Massachusetts, recently entered final judgments by consent against six defendants in an ongoing enforcement action filed by the Securities and Exchange Commission (“SEC”) in February 2015. The SEC charged two Portuguese companies operating… Read More
Steven Metro Sentenced to 46 Months in Prison for Insider Trading Scheme
On September 14, 2016 Steven Metro, a former Simpson Thacher & Bartlett employee, was sentenced to 46 months in federal prison. Metro previously pleaded guilty to criminal charges arising from his role in a long running insider trading… Read More
Stock-Trading Whiz Kid and Company Wealthpire Inc. Charged with Fraud
On September 13, 2016 he Securities and Exchange Commission (“SEC”) announced that self-proclaimed “stock trading whiz kid” Manuel Jesus and his stock newsletter company in Los Angeles have agreed to pay nearly $1.5 million to settle charges that they defrauded… Read More
SEC Charges Movie Exec Manu Kumaran
On September 23, 2016, the Securities and Exchange Commission (“SEC”) charged Manu Kumaran in connection with Medient Studios and later Moon River Studios. According to the SEC, Kumaran defrauded investors in a purported project to construct the largest movie studio in… Read More
Court Enters Injunction Against Safety Technologies LLC and Its Owner
On September 12, 2016, the Honorable Alvin W. Thompson, a federal judge in the U.S. District Court for the District of Connecticut, entered a preliminary injunction and continued asset freeze by consent against Thomas Connerton and his company,… Read More
SEC Charges Tycoon Energy Inc and Its President with Running a $5.6 Million Fraud
The Securities and Exchange Commission (“SEC”) charged Tycoon Energy, Inc. and its president, Matthew Dee Nerbonne, with orchestrating an oil and gas fraud. The SEC’s complaint, filed on September 9, 2016, in the U.S. District Court for the… Read More
Pro Basketball Player Defrauded by Investment Advisor Charles Banks
The Securities and Exchange Commission (“SEC”) announced on September 12, 2016 that it has charged Atlanta-based investment adviser Charles Augustus Banks, IV with defrauding a former professional basketball player by inducing him to invest in a sports team apparel… Read More
Mark Bloom and Firm North Hills Management LLC Charged with Fraud
On September 6, 2016, the Securities and Exchange Commission (“SEC”) obtained a final judgment against Mark Evan Bloom and his advisory firm, North Hills Management, LLC, for securities fraud in a civil enforcement action filed on February 25,… Read More
RPM International Charged with Disclosure and Accounting Failures
On September 9, 2016 the Securities and Exchange Commission (“SEC”) charged Ohio-based chemical company RPM International Inc. and its General Counsel, Edward Moore, with failing to disclose a material loss contingency, or record an accrual for, a government… Read More
Four Fraudsters Charged in Arco Hills Silica Mining Company Scheme
The Securities and Exchange Commission (“SEC”) charged Gordon Jenkins, Theodore Sweeten, Francis Kreais and Craig Parkinson with orchestrating an offering fraud involving the sale of interests in a purported mining company, Arco Hills Silica Company. The SEC’s complaint, filed… Read More
SEC Obtains Emergency Order to Prevent Anthony Buzaneli from Leaving U.S.
On August 26, 2016, Judge Susan Richard Nelson of the District of Minnesota issued an order requiring Anthony Buzaneli to surrender his passports and prohibiting him from leaving the United States until further order of the Court. The… Read More
Court Enters Final Judgment Against Jilbert Tahmazian in an Antifraud Action
On August 26, 2016, the U.S. District Court for the Central District of California entered a final judgment against Jilbert Tahmazian, an attorney licensed in California, ordering him to pay $196,524 to settle an antifraud action filed by… Read More
Donald Watkins and his Companies Charged with Defrauding Investors
The Securities and Exchange Commission (“SEC”) charged Alabama attorney Donald Watkins and companies he controls with defrauding professional athletes and other investors out of millions of dollars, much of which he spent on his girlfriend and to cover… Read More
Court Enters Final Judgments Against Promotors of Fraud Company Wings Network
On August 31, 2016, a federal court in Boston, Massachusetts, entered final judgments by default against five defendants in an ongoing enforcement action filed by the Securities and Exchange Commission (“SEC”) in February 2015. The SEC charged two… Read More
SEC Files Complaint Against Dennis Hamilton of Harman International Industries
On February 5, 2016, the SEC filed a complaint charging Dennis Wayne Hamilton with insider trading in the company’s stock and making more than $130,000 in illegal profits by trading on nonpublic information he learned on the… Read More
SEC Charges Enviro Board Corporation and Two Executives with Fraud
On August 26, 2016 the Securities and Exchange Commission (“SEC”) charged Enviro Board Corporation and two of its executives with using baseless financial projections and other misleading statements to defraud investors in a venture to manufacture environmentally-friendly building materials…. Read More
SEC Files Subpoena Against Edward Panos and His Wife for Penny Stock Fraud
On August 25, 2016 the Securities and Exchange Commission (“SEC”) announced that it filed a subpoena enforcement action in the U.S. District Court for the District of Columbia against Edward Panos and his wife, Allison Panos, and various entities… Read More
SEC Charges Secured Income Reserve and Former Officers with Fraud
The Securities and Exchange Commission (“SEC”) filed fraud charges against Secured Income Reserve, Inc. and three of its former officers alleging that Income Reserve, Ilona Mandelbaum of Palm Beach Gardens, Fla., David Zimmerman of Boca Raton, Fla., and… Read More
Cedric Cañas Charged with Insider Trading and Ordered to Pay Over $1.1 Million
The Securities and Exchange Commission (“SEC”) obtained a default judgment against a former high-ranking executive at Madrid-based Banco Santander, S.A. (“Santander”) for trading based on material, nonpublic information about a proposed acquisition for which the Spanish investment… Read More
John Ragsdale Charged with Aiding and Abetting Penny Stock Fraud
On August 22, 2016 the Securities and Exchange Commission (“SEC”) announced that it has charged John Ragsdale of South Carolina with aiding and abetting a penny stock fraud involving now-defunct U.S. public company Global Earth Energy, Inc. (Global Earth),… Read More
Court Enters Final Judgment Against Patrick O’Neill in Insider Trading Case
On August 18, 2016, the federal district court in Massachusetts entered a final judgment against a senior vice president at Eastern Bank Corporation, Patrick O’Neill, to settle allegations that he engaged in insider trading in the stock of Wainwright Bank… Read More
Sean Stewart Found Guilty of Insider Trading
On August 17, 2016, a jury in federal court in Manhattan returned a guilty verdict on all nine counts against former investment banker Sean Stewart in a criminal trial prosecuted by the U.S. Attorney’s Office for the Southern… Read More
Stockbroker Paul Rampoldi Charged with Insider Trading
On August 11, 2016 the Securities and Exchange Commission (“SEC”) charged stockbroker Paul Rampoldi and his friend with participating in an insider trading scheme to profit in advance of two major announcements out of a pharmaceutical company. The… Read More
Global Digital Solutions of West Palm Beach, FL and CEO Charged with Fraud
On August 12, 2016 the Securities and Exchange Commission (“SEC”) charged West Palm Beach-based Global Digital Solutions, former chairman and CEO Richard Sullivan, and former CFO David Loppert with defrauding investors by issuing false and misleading press releases purporting… Read More
Sameer and Praveen Sethi Found in Contempt of Court After Injuction
On August 9, 2016, a federal court in Texas entered contempt orders against Sameer Sethi, Praveen Sethi, and John Weber after they violated the court’s May 26, 2015 preliminary injunction restraining Sameer Sethi and Sethi Petroleum, LLC from… Read More
