SEC Charges Executives of ContinuityX Solutions with Fraud

The Securities and Exchange Commission (SEC) announced that it charged two former executives of ContinuityX Solutions, Inc. with fabricating nearly all of the company’s revenue and enriching themselves in the process. Metamora, Illinois-based ContinuityX was a publicly traded… Read More

Charles Riel and REinvest LLC Charged with Securities Fraud

On September 29, 2015, the Securities and Exchange Commission (SEC) charged a company and its manager with securities fraud of their investors by promising them outlandish “low risk” investment returns and then misusing the investors’ money to, among other… Read More

Lee Dana Weiss Charged with Self-Dealing and Failure to Disclose

The Securities and Exchange Commission (SEC) announced on September 29, 2015 fraud charges against a registered investment adviser and its owner for allegedly participating in self-dealing and failing to communicate material facts to clients about conflicts of interest, use of… Read More

Jose Ramirez Charged by the SEC for Conducting Fraudulent Scheme

On September 29, 2015, the Securities and Exchange Commission (SEC) charged Jose Ramirez, a former top broker at UBS Financial Services Incorporated of Puerto Rico (“UBSPR”), who made material misrepresentations and omissions and conducted a fraudulent scheme that… Read More

NYSE Amends Rules For The Release of Material News

  Halts Before Open Under the amended NYSE Listed Company Manual, between 7:00 a.m. and the opening of trading, the NYSE can implement a regulatory halt if (i) the listed company has informed the NYSE staff that it intends… Read More

Five Florida Residents Charged by the SEC With Insider Trading

The Securities and Exchange Commission (SEC) on September 28, 2015 charged five Florida residents, including a lawyer and an accountant with insider trading before the acquisition of Pharmasset Inc. by Gilead Sciences Inc. The SEC filed a complaint claiming that attorneys Robert Spallina and… Read More

SEC Charges Roger Bliss With Obstruction of Justice

The Securities and Exchange Commission (SEC) announced on September 2, 2015 that an alleged investment club fraudster whose assets were frozen in an SEC enforcement action earlier this year has now been criminally charged by a grand jury for… Read More

Spongetech Update – SEC Enforcement Attorneys

On May 5, 2010, the U.S. Securities and Exchange Commission (“SEC”) brought an action against Spongetech Delivery Systems, Inc. (“SPNG”), including CEO Michael Metter, CFO and secretary Steven Moskowitz, and certain other Spongetech officers and employees, for engaging… Read More

Publicly Traded Companies Filing Requirements – Going Public Attorneys

Companies going public become subject to the SEC’s periodic reporting requirements a number of ways including by filing a registration under the Securities Act of 1933, as amended or pursuant to the  Securities Exchange Act of 1934. The… Read More

SEC Charges Trinity Capital Corporation with Fraud

The Securities and Exchange Commission (SEC) announced on September 28, 2015 that Trinity Capital Corporation and its wholly-owned subsidiary, Los Alamos National Bank, have agreed to pay $1.5 million to settle accounting fraud charges. An SEC investigation found… Read More

SEC Charges Oil and Gas Company and Boiler Room Operator, Commodore Financial Corporation, CEO Christopher Schlegel, M&G Cap Services, and Andres Calvo

The Securities and Exchange Commission (SEC) announced on October 1, 2015 fraud charges against an Orange County, Calif. oil and gas company, its CEO, and an Arizona-based boiler room operator. The SEC claims Commodore Financial Corporation, CEO Christopher Schlegel,… Read More

EPermaPave Industries Is A Ponzi Scheme – Brenda Hamilton Attorney

-Posted by Brenda Hamilton- The Securities and Exchange Commission (SEC) announced on September 2, 2015 that U.S. District Court Judge Jed S. Rakoff has ordered that Defendants Eric Aronson, Fredric Aaron, and Vincent Buonauro must each disgorge all… Read More

SEC Charges Eldrick Woodley with Embezzlement of Client Funds

The Securities and Exchange Commission (SEC) on September 22, 1015, filed fraud charges against Eldrick Woodley, a Houston-based investment advisor, for the embezzlement of more than $147,000 in client capital. According to the SEC’s complaint, filed in the U.S. District… Read More

SEC Charges Hitachi, LTD. With Violation of FCPA

The Securities and Exchange Commission (SEC) on September 28, 2015 charged Tokyo-based conglomerate Hitachi, Ltd. with violating the Foreign Corrupt Practices Act (FCPA) when it falsified documents regarding payments to South Africa’s ruling political party connected with contracts to… Read More

SEC Files Charges Against Ralph Pirtle and Morando Berrettini for Insider Trading

The Securities and Exchange Commission (SEC) announced on September 25, 2015 that on September 24, 2015, a jury in federal district court in Chicago, Illinois, returned a verdict finding Ralph J. Pirtle and Morando Berrettini responsible for insider… Read More

SEC Charges GenAudio and CEO With Fraudulent Stock Offerings

The Securities and Exchange Commission (SEC) filed a civil injunctive action on September 25, 2015, in the United States District Court for the District of Colorado relating to the fraudulent offer and sale of stock in GenAudio, Inc. The SEC… Read More

SEC Charges Six in Securities Fraud Scheme

On September 24, 2015 the Securities and Exchange Commission (SEC) charged six men, including a father and three sons, with securities fraud associated with Gerova Financial Group Ltd., whose shares once traded on the New York Stock Exchange. In a parallel… Read More

$32 Million Amber Mining Pyramid Scheme Halted by the SEC

  On October 1, 2015, the Securities and Exchange Commission (“SEC”) announced it had frozen the assets and filed fraud charges against the operator of a worldwide pyramid scheme who falsely promised investors that they would profit from a… Read More

FINRA Expels Halcyon Cabot Partners

The Financial Industry Regulatory Authority (FINRA) announced today that it has expelled Halcyon Cabot Partners, Ltd., and barred Chief Executive Officer Michael Morris and Chief Compliance Officer Ronald Heineman from the securities industry, for securities fraud, sales practice… Read More

SEC Settles Aiding and Abetting Charges Against Joseph Apuzzo

On September 8, 2015, Judge Alvin Thompson of the U.S. District Court for the District of Connecticut entered a judgment against Joseph Apuzzo, former Chief Financial Officer of Terex Corporation. Apuzzo consented, without admitting or denying the allegations… Read More

Anthony Knight Barred, Enjoined, and Fined for Unregistered Securities

On Thursday, September 3, 2015, United States District Court Judge Denis R. Hurley of the United States District Court for the Eastern District of New York issued an order and judgment imposing relief against Defendant Anthony Knight, the… Read More

Consultant Charged With Insider Trading

On September 23, 2015, the Securities and Exchange Commission (SEC) charged a consultant and his friend with insider trading in the options of P.F. Chang’s China Bistro based on nonpublic information about an impending acquisition offer. The SEC… Read More

SEC Announces New Resource – Going Public Attorneys

Posted By the Going Public Attorneys On September 24, 2015, the Securities & Exchange Commission (SEC) announced a new resource on its website that is designed to enhance transparency by providing information about the SEC proposals and rulemaking… Read More

Former Fannie Mae Executives Resolve Subprime and Reduced Documentation Disclosure Case with SEC

The Securities and Exchange Commission (SEC) announced on September 22, 2015 that the Honorable Paul A. Crotty of the United States District Court for the Southern District of New York has entered an Order approving a stipulation and… Read More

SEC v. Two Men Who Defrauded Investors

On September 21, 2015 the Securities and Exchange Commission (SEC) charged two men behind a scheme that defrauded investors in YaFarm Technologies Inc., a company that purported to provide stem cell therapy. The SEC’s complaint filed in federal… Read More

SEC Charges Penny Stock Company and CEO with Fraud and Issuing a False Press Release

  On September 15, 2015, the Securities and Exchange Commission (SEC) charged a microcap issuer, The Mobile Star Corporation, and its CEO George Ivakhnik, with defrauding investors by issuing false press releases about the company’s business and prospects…. Read More

SEC Obtains Final Judgement Against Julio Cruz for Targeting Latino Communities with Pyramid Scheme

On September 17, 2015, the Securities and Exchange Commission (SEC) announced that on September 16, 2015, the federal court in Boston, Massachusetts, entered a final judgment against defendant Julio Cruz of Duluth, Georgia, a defendant in a previously-filed… Read More

James Meagher Enjoined in Penny Stock Case

The Securities and Exchange Commission (SEC) announced on September 16, 2015 that Chief Judge Gregory M. Sleet of the United States District Court for the District of Delaware entered a final default judgment against Defendant James Meagher on… Read More

SEC Charges Robert Milligan With Securities Fraud

The Securities and Exchange Commission (SEC) announced on September 18, 2015 charges against Robert DeWayne Milligan, who was president of a California-based business known as America’s Natural Energy (“ANE”), for engaging in the fraudulent offering of unregistered securities…. Read More

Eric McPhail Sentenced in Insider Trading Action

The Securities and Exchange Commission (SEC) announced that, on September 18, 2015, Eric McPhail was sentenced to 18 months in prison and two years of supervised release for his role in an insider trading ring that traded inside information… Read More