Edwin Ruh Jr. and His Firm Charged for a Fraudulent Securities Offering
On August 10, 2016, the Securities and Exchange Commission (“SEC”) filed fraud charges against an individual, Edwin Ruh Jr., and his firm, Pan Asia China Commerce Corp. Inc. (“PAC-3”), in connection with the fraudulent offering of an investment… Read More
Three Officers of Brokerage Firm Global Transition Solutions Charged with Fraud
On August 8, 2016 the Securities and Exchange Commission (“SEC”) charged three individuals and the now-defunct firms Global Transition Solutions, Inc. and Global Transition Solutions, LLC (collectively “Global Transition”) with fraud for misleading their current and prospective customers… Read More
Investment Advisor Patrick Churchville Pleads Guilty to Running $21 Million Ponzi
On August 4, 2016, Patrick Churchville, a defendant in an ongoing SEC litigation, pled guilty to an information charging him with five counts of wire fraud and one count of tax evasion in connection with orchestrating a $21… Read More
Football Player Merrill Robertson Jr. Charged with Running a $10 Million Fraud
On August 10, 2016 the Securities and Exchange Commission (“SEC”) charged Merrill Robertson Jr., a former player for the Philadelphia Eagles, with defrauding investors, including former coaches he knew from his time playing football for the Fork Union… Read More
Cardiologist Dr. Edward Kosinski Charged with Insider Trading
On August 4, 2016 the Securities and Exchange Commission (“SEC”) charged a cardiologist with insider trading on confidential developments as he worked on a clinical drug trial. The SEC alleges that Dr. Edward Kosinski of Weston, Connecticut, traded… Read More
Posted by Brenda Hamilton – Sandy Winick Sentenced
Posted by Brenda Hamilton. On August 17, 2016, Penny Stock Fraudster, Sandy Winick, a Canadian, was sentenced To 78 Months In prison for masterminding the international fraud scheme. Winick was sentenced to 78 months in prison following his July… Read More
Leonid Momotok Pleads Guilty to Conspiracy to Commit Wire Fraud
On August 2, 2016, Leonid Momotok of Suwanee, Georgia pled guilty before United States Magistrate Judge Ramon E. Reyes, Jr. in United States District Court for the Eastern District of New York to one count of conspiracy to… Read More
Court Enters Final Judgment Against Kenneth Rampino for Insider Trading
The Securities and Exchange Commission (SEC) announced that the federal district court in Rhode Island has entered a final judgment against Kenneth Rampino, a resident of Seekonk, Massachusetts and a practicing attorney, ordering him to pay approximately $39,000… Read More
Court Finds Jeffry and Paul Downey and John Leonard Guilty of Oil and Gas Fraud
On July 25, the Honorable Sam R. Cummings of the United States District Court for the Northern District of Texas granted summary judgment for the SEC on all claims against the father-and-son duo of Paul and Jeffry Downey,… Read More
Three Fraudsters on a Shopping Spree Met with an Asset Freeze
On July 28, 2016 the Securities and Exchange Commission (“SEC”) announced an asset freeze it has obtained against three men who aren’t registered to sell investments and allegedly went on lavish shopping sprees with more than $5 million raised from… Read More
SEC Charges the Luca Entities with Eb-5 Investment Fraud
On July 26, 2016, the Honorable Charles R. Breyer of the United States District Court for the Northern District of California entered a final judgment against Luca International Group, LLC, Luca Resources Group, LLC, Luca Energy Fund, LLC… Read More
Rosalind Herman Sentenced to 7 Years, Ordered to Pay Nearly $2 Million in Restitution
On July 27, 2016, Rosalind Herman, a relief defendant in an ongoing SEC fraud action, was sentenced to seven years in federal prison and ordered to pay $1,819,391 in restitution in a parallel criminal case. Herman and her… Read More
Charles Scoville & Traffic Monsoon Charged In Ponzi Scheme
On July 26, 2016 the Securities and Exchange Commission (“SEC”) announced that it obtained an asset freeze against the operator of an international Ponzi scheme that raised more than $207 million from investors worldwide, primarily in the U.S., India, and… Read More
JNL Oilfield Instruments and Founder Jeffery McCollum Charged with Operating a Ponzi Scheme
The Securities and Exchange Commission (“SEC”) announced that it has charged Odessa, Texas-based JNL Oilfield Instruments, LLC and its founder Jeffery McCollum with operating a multi-year Ponzi scheme. According to the SEC’s complaint filed in the U.S. District Court… Read More
Attorney Herbert Sudfeld Sentenced to 6 Months Imprisonment for Insider Trading
On July 22, 2016, Judge Cynthia M. Rufe of the U.S. District Court for the Eastern District of Pennsylvania sentenced former attorney Herbert Sudfeld, Jr. to six months imprisonment followed by three years of supervised release and 150… Read More
Court Enters Final Judgment Against Michael Cain
The Securities and Exchange Commission (“SEC”) announced that on July 20, 2016, the Honorable Charles Pannell of the United States District Court for the Northern District of Georgia entered a final judgment against Michael Sean Cain. In its complaint,… Read More
SEC Nails Pot Stock Promoters
On July 9, the Securities & Exchange Commission (“SEC”) settled with Alexander Hawatmeh and Christopher Mrowca who allegedly received more than $2.5 million by manipulating penny stock pot stocks. According to the proposed judgments filed in the US District… Read More
FINRA Amends Regulation NMS
The Financial Industry Regulatory Authority has adopted amendments to its rules related to the operation of the Regulation NMS Plan to Address Extraordinary Volatility following a trading pause or regulatory halt. FINRA Rule 6121.01 (Resumption of Trading in Securities… Read More
Court Issues Asset Freeze Over James Hugh Brennan and Douglas Albert Dyer in Fraud Case
On July 22, 2016, the Honorable Travis R. McDonough of the Eastern District of Tennessee entered a court-ordered asset freeze to halt an ongoing fraud by two former brokers with disciplinary histories who allegedly raised more than $5… Read More
SEC Charges Jeffrey Wilson, Former CEO of Imperial Petroleum with Securities Fraud
On July 20, 2016, the SEC charged Jeffrey Wilson, the former CEO of Imperial Petroleum, Inc., and a defendant in a SEC civil enforcement action, with 19 counts of securities fraud and other violations of federal law on July… Read More
Court Enters Final Judgment Against Tyson Williams and Stanley Parrish in Fraud Case
On July 18, 2016, the U.S. District Court for the District of Utah entered final judgments against Tyson Williams and Stanley Parrish, both of whom were charged by the SEC in 2014 in connection with the sale of securities… Read More
SEC Charges Thomas Conrad and His Son with Fraud
On Friday, July 15, 2016, the Securities and Exchange Commission (“SEC”) charged Thomas Conrad, Jr. and his son, Stuart Conrad, and their two unregistered advisory firms, Financial Management Corporation (“FMC”) and Financial Management Corporation, S.R.L. (“FMC Uruguay”), with defrauding… Read More
Vineet Kalucha Sentenced to Federal Prison for Obstructing Investigation
Vineet Kalucha was sentenced to fifteen months in prison in a parallel criminal case after pleading guilty to charges that he obstructed justice in an investigation conducted by the SEC. Vineet Kalucha, whose sentence was handed down on July… Read More
Thomas and Stuart Conrad Charged With Securities Fraud
On Friday, July 15, 2016, the Securities and Exchange Commission (“SEC”) charged two residents of Alpharetta, Georgia, Thomas Conrad, Jr. and his son, Stuart Conrad, and their two unregistered advisory firms, Financial Management Corporation (“FMC”) and Financial Management… Read More
Judgments Entered Against Tyson Williams and Stanley Parrish
On July 18, 2016, the U.S. District Court for the District of Utah entered final judgments against Tyson D. Williams and Stanley D. Parrish, both of whom were charged by the SEC in 2014 with fraud in connection… Read More
Jeffrey Wilson, the former CEO of Imperial Petroleum Found Guilty
On July 22, 2016, Jeffrey Wilson, the former CEO of Indiana-based Imperial Petroleum, Inc., and a defendant in a SEC civil enforcement action, was found guilty of 19 counts of securities fraud and other violations of federal law… Read More
SEC Regulation A+ Meeting Addressing Emerging Companies
On July 14, 2016, the Securities and Exchange Commission (“SEC”) announced the agenda for its July 19 meeting of its Advisory Committee on Small and Emerging Companies. The SEC Committee will focus on the first year of Regulation A+,… Read More
Permanent SEC Bar Against Joseph Apuzzo of Terex Corporation Entered
On May 5, 2016, Judge Alvin W. Thompson of the U.S. District Court for the District of Connecticut granted the SEC’s motion for an officer and director bar against Joseph F. Apuzzo, former Chief Financial Officer of Terex… Read More
The SEC Announces Securities Fraud In ForceField Energy
On May 3, 2016, the SEC announced securities fraud charges against 10 individuals involved in cash bribes and other kickbacks to registered representatives and unregistered brokers who solicited investors to buy stock in ForceField Energy Inc. The SEC… Read More
IHUB Pushes Back to COR Clearing Subpoena in Calissio Case
We last wrote about the complex litigation involving Calissio Resources Group (CRGP) in February. It arose out of a controversy surrounding the company’s payment of a special dividend of $0.011 a share in August 2015. At the time… Read More
