SEC Enters Settlement Agreement with Concorde Bermuda Ltd.
The Securities and Exchange Commission (SEC) announced that it entered into a settlement agreement, subject to court approval, with Ukrainian-based Concorde Bermuda Ltd. (Concorde) in a case alleging a scheme to trade on hacked news releases. On August 10,… Read More
Court Enters Final Judgment Against Shirmila Doddi For Insider Trading
The Securities and Exchange Commission (SEC) announced that on January 20, 2016, the Court for the District of Massachusetts entered a final judgment against defendant Shirmila Doddi, permanently enjoining her from future violations of Section 10(b) and Rule 10b-5…. Read More
Court Enters Final Judgment Against CEO of Polycom
The Securities and Exchange Commission announced that on January 26, 2016, the Honorable Yvonne Gonzalez Rogers of the United States District Court for the Northern District of California entered a final judgment against Andrew Miller, the former CEO… Read More
Court Issues Asset Freeze Over Sedona Oil and Its President
On January 21, 2016, the Securities and Exchange Commission (SEC) filed an emergency civil action against a Dallas company, Sedona Oil and Gas Corporation and its president, Kenneth “Kenny” Crumbley, Jr., to stop their allegedly fraudulent offer and… Read More
SEC Charges Marquis Properties and Its Principals With Operating a Ponzi Scheme
The Securities and Exchange Commission (SEC) obtained an asset freeze and other ancillary relief against Marquis Properties, LLC, and its CEO/President Chad Deucher for orchestrating a $28 million Ponzi scheme that defrauded more than 250 investors throughout… Read More
SEC Charges StratoComm Coporation with Illicit Sale of Securities
On October 4, 2011, the Securities and Exchange Commission (SEC) filed a complaint in United States District Court for the Northern District of New York charging StratoComm Corporation, its CEO Roger Shearer, and its former Director of Investor… Read More
COR Clearing Subpoenas Retail Shareholder Trade Information
Last fall, we wrote about a highly unusual cash dividend paid by penny stock Calissio Resources Group, Inc. (CRGP). The payment process was so badly botched it resulted in a Financial Industry Regulatory Authority (FINRA) U3 trading… Read More
Pyramid Schemer Sanderly Rodrigues Incarcerated for Violation of Court Order
The Securities and Exchange Commission (SEC) announced that Sanderley Rodrigues de Vasconcelos (“Rodrigues”) of Davenport, Florida, who is charged with promoting a pyramid scheme, was ordered to jail for civil contempt arising from his repeated violations of Court… Read More
SEC Seeks Enforcement Against CEO of DecisionPoint
The Securities and Exchange Commission (SEC) filed a complaint in the United States District Court for the Southern District of Florida against Nicholas Toms seeking enforcement of the SEC Order requiring him to pay disgorgement of $85,918, representing profits… Read More
Court Denies Defendants’ Motion to Dismiss SEC Insider Trading Enforcement
The Securities and Exchange Commission (SEC) announced that the U.S. District Court for the District of Rhode Island denied defendants Anthony Andrade’s and Kenneth Rampino’s motion to dismiss an SEC insider trading action. The SEC’s complaint, filed June… Read More
SEC Charges Robert Crowe for Joining a Pay-to-Play Scheme
The Securities and Exchange Commission (SEC) filed a complaint against Robert Crowe, a law firm partner who worked as a fundraiser and lobbyist for State Street Bank and Trust Company. The complaint alleges that Crowe participated in a… Read More
SEC Wins Insider Trading Case Against Capital One Employee
The Securities and Exchange Commission (SEC) obtained a jury verdict in its favor in a federal district court trial in Philadelphia against Nan Huang, who the agency charged with insider trading on information he illegally obtained from his… Read More
SEC Obtains Judgment Against Steven Davis
The Securities and Exchange Commission (SEC) announced that on January 8, 2016, the United States District Court for the Southern District of New York entered a judgment against defendant Steven Davis. The judgment resolves all issues of liability… Read More
DTC Imposes Corporate Action DTC Eligibility Fee
On December 30, 2015, the Securities and Exchange Commission (“SEC”) published a notice that it was soliciting comments for a proposed rule change submitted by The Depository Trust Company (“DTC”) filed a pursuant to section 19(b)(3)(A) of the… Read More
Martin Shkreli Charged with Securities Fraud
On December 17, 2015, the Securities and Exchange Commission (SEC) charged Martin Shkreli, former CEO of pharmaceutical company Retrophin, with committing fraud during a 5-year period when he also was working as a hedge fund manager. He is… Read More
SEC Obtains Asset Freeze of Oxford City Football Club
On December 10, 2015, the Securities and Exchange Commission (SEC) filed a complaint that charged Oxford City Football Club, Inc. and its CEO, Thomas Anthony Guerriero, with securities fraud and other violations of the federal securities laws. The… Read More
Court Issues Final Judgment Against Auditor Timothy Quintanilla
The United States Securities and Exchange Commission (SEC) announced that, on December 4, 2015, the Court for the Southern District of New York issued a final judgment, on consent of defendant Timothy Quintanilla, which permanently enjoined him from violating… Read More
SEC Charges Vinh Le and His Company with Fraud
The Securities and Exchange Commission (SEC) announced that on December 15, 2015, it filed charges against Vu Le a/k/a Vinh Le and his company, TeamVinh.com LLC (“TeamVinh”), in connection with their fraudulent raising of more than $3 million from… Read More
SEC Charges Edward Durante with Securities Fraud
The Securities and Exchange Commission (SEC) charged Edward Durante, a recidivist securities law violator with operating a multi-year offering fraud that targeted investors in New England, Ohio and California. The SEC’s complaint alleges that between 2012 and 2014,… Read More
Information About Foreign Issuers and Foreign Companies
The U.S. capital markets have long been a desired goal for foreign companies that are interested in raising funds or establishing a trading market for their securities. Two of the most important laws applicable to companies seeking to… Read More
Court Enters Final Judgment Against eAdGear and Its Operators
The Securities and Exchange Commission (SEC) announced that on February 1, 2016, the Honorable Richard Seeborg of the United States District Court for the Northern District of California entered final judgments against defendants eAdGear Holdings Limited, eAdGear, Inc.,… Read More
Robert Bray Found Guilty of Insider Trading
The Securities and Exchange Commission (SEC) announced that on January 28, 2016, a jury in the federal court in Boston Massachusetts, returned a guilty verdict against Watertown real-estate developer Robert Bray in a criminal trial prosecuted by… Read More
SEC Charges CAUSwave and Its Principals with Fraud
On December 14, 2015 the Securities and Exchange Commission (SEC) charged a Pittsboro, North Carolina-based startup energy company and two executives with defrauding investors in an unregistered stock offering as they purported that a big influx of capital… Read More
SEC Files Subpoena Against President of FX & Beyond Corporation
On December 9, 2015 the Securities and Exchange Commission (SEC) obtained a court order in its subpoena enforcement action against respondent Steve Karroum that requires Mr. Karroum to sign a written consent for the release of his e-mails from… Read More
Robert Seibert Charged In Scheme Targeting Seniors
On December 2, 2015, the Securities and Exchange Commission (SEC) charged Robert Seibert with operating a multi-year offering fraud that targeted elderly investors. According to the SEC’s complaint: Seibert, who was previously charged by the SEC in 1993… Read More
Jehu Hand Charged with Market Manipulation Scheme
The Securities and Exchange Commission (SEC) charged a California-licensed attorney and a stock promoter behind a pump-and-dump scheme that defrauded investors in Greenway Technology, a Las Vegas-based company purporting to operate resorts for gay and lesbian travelers. The… Read More
Court Approves Summary Judgment Against Stewart Merkin
On January 13, 2016, the United States Court of Appeals for the Eleventh Circuit affirmed entry of summary judgment in favor of the Securities and Exchange Commission (SEC) on its claims of securities fraud against defendant Stewart Merkin… Read More
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