Court Enters Summary Judgment Against Enron’s Former CEO
The Securities and Exchange Commission (SEC) obtained a summary judgment against former Enron president, COO, and CEO Jeffrey Skilling to conclude its civil case that was stayed by the court starting in 2004 until the outcome of criminal… Read More
SEC Late Filers 101 – Going Public Attorneys
It’s that time of year again when companies filing reports with the Securities and Exchange Commission (“SEC”) that have a December 31st year end, must file their annual report on Form 10-K. Recent enforcement actions against SEC filers and insiders… Read More
Court Finds Wayne Palmer Guilty in Ponzi Scheme
The Securities and Exchange Commission (SEC) won a case involving a Ponzi scheme. According to the SEC Wayne Palmer and his company National Note of Utah. The SEC filed fraud charges against them in June 2012 in connection with the Ponzi… Read More
Cry Me a Sater…Felix Sater & Donald Trump
In February 2015, Felix Sater proudly announced the debut of a new website. As he puts it, it “showcases [his] accomplishments, contributions, musings, and availability.” Though Sater describes himself as a veteran of the commercial real estate… Read More
Court Enters Final Judgment In Penny Stock Case
The Securities and Exchange Commission (SEC) announced that the Court entered a final judgment against Defendant Chad Smanjak on November 23, 2015 in SEC v. Ruettiger, et al., Civil Action No. 1:11-CV-02011, a penny stock manipulation case the… Read More
SEC Acquires Court Order for an Asset Freeze for Lin Zhong
The Securities and Exchange Commission (SEC) announced on November 19, 2015 that it has obtained a court order freezing the assets of a South Florida woman and her company accused of purchasing a boat and luxury cars with… Read More
SEC Announces Emergency Halt on Fraudster’s Operations
On December 1, 2015 the Securities and Exchange Commission (SEC) announced the entry of a Consent Order (“Order”) halting an alleged ongoing investment fraud by James Torchia and various related entities involving the sale of promissory notes and… Read More
Court Enters Final Judgment Against Prima Capital Group
The Securities and Exchange Commission (SEC) announced that on September 29, 2015, a final judgment was entered against Efstratios “Elias” Argyropoulos of Santa Barbara, California, and his solely owned company, Prima Capital Group, Inc. In addition to the… Read More
SEC Charges Two Bitcoin Companies for Operating a Ponzi Scheme
On December 1, 2015 the Securities and Exchange Commission (SEC) charged two Bitcoin mining companies and their founder with conducting a Ponzi scheme that used the lure of quick riches from virtual currency to defraud their investors…. Read More
SEC Obtains Asset Freeze In EB-5 Scam
The Securities and Exchange Commission (SEC) announced an asset freeze obtained against two people in San Bernardino, California accused of defrauding Chinese investors who invested in their related companies in an effort to obtain U.S. residency through the… Read More
Court Enters Final Judgment Against Tropikgadget In Pyramid Scheme
On November 12, 2015, a federal court in Boston, Massachusetts, entered a final judgment against Tropikgadget FZE and Tropikgadget Unipessoal LDA (collectively, “Tropikgadget”) of Portugal, defendants in a previously-filed enforcement action. In February 2015, the SEC charged Tropikgadget operating under the… Read More
Steven Watson Charged with Insider Trading – Securities Attorneys
On November 17, 2015 the Securities and Exchange Commission charged Steven Watson with insider trading fraud, claiming he illegally profited from news of a proposed acquisition of Cooper Tire and Rubber Company by Apollo Tyres Ltd. Earlier this year, the… Read More
SEC Obtains Final Judgment Against EB-5 Attorneys
The Securities and Exchange Commission (SEC) announced that it has obtained final judgments against a former Los Angeles-based immigration attorney, his wife, his former law firm partner and five entities he controlled for conducting an investment scheme to… Read More
5 Star Commercial, 5 Star Capital, and Operator Earl Miller Charged with Fraud
The Securities and Exchange Commission (SEC) announced that on November 5, 2015 an emergency enforcement action was filed in federal district court against Earl Miller (Miller) and two private investment vehicles that he controlled, 5 Star Commercial, LLC… Read More
SEC Charges EB-5 Offering Attorneys – Securities Lawyer 101
On December 7, 2015 the Securities and Exchange Commission (SEC) announced a series of enforcement actions against lawyers across the country charged with offering EB-5 investments while not registered to act as brokers. In one case, a lawyer and his firm… Read More
Zhichen Zhou and Yannan Liu Charged with Insider Trading
On November 10, 2015 the Securities and Exchange Commission (SEC) announced insider trading charges and an emergency asset freeze against cousins Zhichen Zhou and Yannan Liu. The SEC alleged that the Defendants traded in advance of the acquisition of… Read More
Judgment Entered Against James Louks and FiberPop Solutions
On November 9, 2015, the Securities and Exchange Commission (SEC) announced that on November 4, 2015 the Court entered a partial judgment against James Louks and FiberPop Solutions, Inc. (FiberPop). FiberPop and Louks, founder, President, CEO, Director, and Chairman… Read More
SEC Complaint Charges For Phony Muddy Waters Tweets
On November 6, 2015, the SEC announced that it charged James Alan Craig (Craig) with a market manipulation scheme. The SEC filed criminal securities fraud charges against Craig, a Scottish trader whose phony tweets caused sharp drops in the… Read More
SEC Identifies Three More to Charge in Penny Stock Case
On November 4, 2015, the Securities and Exchange Commission (SEC) announced it has identified three more individuals to charge in a penny stock manipulation case that the agency filed last year against alleged corrupt brokers and others. The SEC… Read More
Court Approves Insurance Company’s Final Distribution
On September 30, 2015 the Court approved final distribution that concluded the receivership in the SEC’s litigation against Provident Capital Indemnity, Ltd. The litigation was ended by the Court’s order and was settled with the last remaining defendant,… Read More
Vlad Spivnak Charged with Insider Trading
The SEC has announced charges against Vlad Spivnak for insider trading in the stock of American Dental Partners, Inc. (ADPI), a dental practice management company. The complaint alleges that Spivnak received the private information from his girlfriend at the time, Shirmila Doddi, who… Read More
William Apostelos and His Companies Charged with Fraud
The SEC released charges on October 30, 2015 alleging that William Apostelos and his companies, WMA Enterprises, Midwest Green Resources, and OVO Wealth Management conducted a fraudulent investment scheme. The complaint claims that the companies raised at least… Read More
Diverse Financial and Principals Charged with Fraud
The SEC filed fraud charges against Diverse Financial Corporation, its CEO, Roy Dekel, and its former President David Kendell on October 28, 2015. The complaint claims that the defendants raised about $3.29 million from at least 16 investors through… Read More
SEC Obtains Asset Freeze Over Joseph Gabalon
The Securities and Exchange Commission (SEC) filed a civil action against defendants Ascenergy LLC and its CEO, Joseph Gabaldon for offering fraudulent oil and gas investments. At the request of the SEC, the U.S. District Court for the District of… Read More
Rebecca Norton Insider Trading Settlement Approved
The Securities and Exchange Commission (SEC) announced that, on October 27, 2015, the United States District Court for the District of Arizona entered a settled final judgment against Rebecca Norton, the remaining defendant in SEC v. Mary Beth… Read More
