SEC Reinstates Richard Hylland, CPA to Practice Before the Commission
Securities Lawyer 101 Blog On June 11, 2014, the Securities and Exchange Commission (the “SEC”) announced that it had reinstated Richard Hylland, CPA to practice before the SEC. On July 16, 2007, Richard Hylland, CPA (“Hylland”) was suspended… Read More
SEC Charges Chicago Securities Attorney
On June 12, 2014, the Securities and Exchange Commission (the “SEC”) charged a securities attorney and founder of an investment advisory firm located in suburban Chicago with defrauding investors in connection with a real estate venture for… Read More
Fugitive Fraudster Aubrey Price Pleads Guilty
Posted by Brenda Hamilton Securities Attorney On June 5, 2014, fugitive banker Aubrey Price plead guilty to bank, securities and wire fraud charges. Aubrey Price faces up to 30 years in prison and millions in restitution and… Read More
$875,000 Awarded to SEC Whistleblower By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog This week the Securities and Exchange Commission (the “SEC”) announced a whistleblower award of more than $875,000 to be split evenly between two individuals who provided tips and assistance to help the agency bring an… Read More
Fusion Pharm Raided by Feds
Securities Lawyer 101 Blog On May 16, 2014, the Securities and Exchange Commission (“SEC”) suspended trading in Fusion Pharm, Inc. (FSPM) for ten days. The reason given for the action was “questions that have been raised about… (1)… Read More
Unregistered Broker-Dealer Activity on the Rise By: Brenda Hamilton
The Securities and Exchange Commission (“SEC”) Division of Enforcement is pursuing unregistered broker-dealer activity which runs rampant in the penny stock markets. Since Rule 506(c) was created many unregistered broker-dealers have appeared in the OTC marketplace touting their skills… Read More
FINRA Investor Alert For High Yield CD Scams By: Brenda Hamilton Attorney
The Financial Industry Regulatory Authority (“FINRA”) has issued a new investor alert called High-Yield CDs: Red Flags That Signal a Scam warning investors to be cautious of investments in certificates of deposit (CDs) that promise to good to be true… Read More
SEC Charges John Bensen & DGSE Companies By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog On May 27, 2014, the Securities and Exchange Commission (“SEC”) announced accounting fraud charges against a Dallas-based company and its former chief financial officer for manipulating its inventory accounts. The SEC alleges that John… Read More
Gendarme & Ezat Rahimi Settle SEC Charges
Settlements have been approved resolving claims by the Securities and Exchange Commission against Gendarme Capital Corporation, its former principal, Ezat Rahimi, and its former attorney, Cassandra Armento. The SEC’s complaint had alleged that the defendants violated Section 5… Read More
SEC Obtains Judgment Against Inofin Management By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog On May 28, 2014, the Securities and Exchange Commission ( “SEC”) announced that the U.S. District Court for the District of Massachusetts entered final judgment by consent against Inofin Inc.’s chief operating officer, Melissa George…. Read More
SEC Charges Transfer Agent, IST Shareholder Services By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog On May 28, 2014, the SEC announced fraud charges and an emergency asset freeze against IST Shareholder Services, a transfer agent and its owner, Robert Pearson whose misappropriation scheme was discovered during an SEC examination…. Read More
SEC Charges Neal V. Goyal in Ponzi Scheme By: Brenda Hamilton Attorney
Securities Lawyer Blog On May 28, 2014, the Securities and Exchange Commission (“SEC”) obtained a court order freezing assets and halting a fraudulent scheme by Chicago, Illinois-based investment adviser, Neal V. Goyal. In its complaint, the SEC alleges… Read More
SEC Settles Charges in We the People Charity Fraud Case By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog May 29, 2014, the Securities and Exchange Commission announced that a Florida husband and wife were charged last year with defrauding seniors through a purported charitable organization and agreed to pay more than $2… Read More
SEC Charges Steven McCraw By: Brenda Hamilton Florida Attorney
Securities Lawyer 101 Blog On May 30, 2014, the Securities and Exchange Commission filed charges against Steven McCraw for aiding and abetting a fraudulent forex trading scheme. The SEC alleges that McCraw knowingly or recklessly provided substantial assistance… Read More
SEC Charges Jeffrey Berkowitz & Others By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog On May 24, 2014, the Securities and Exchange Commission announced the latest in a series of cases against microcap companies, officers, and promoters arising out of a joint law enforcement investigation to unearth penny… Read More
SEC Suspends Andalusian Resorts By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog On May 19, 2014, the Securities and Exchange Commission (“SEC”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (“Exchange Act”), of trading in the securities of Andalusian Resorts and… Read More
SEC Charges Four Pension Officials for Regulation SHO Violations
Securities Lawyer 101 Blog On May 19, 2014, the Securities and Exchange Commission (“SEC”) announced charges against four former officials at clearing firm Penson Financial Services for their roles in Regulation SHO violations. An SEC investigation found that… Read More
SEC Suspends FusionPharm By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog On May 16, 2014, the Securities and Exchange Commission (“Commission”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities of… Read More
SEC Suspends Pingify – PGFY – By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog On May 14, 2014, the Securities and Exchange Commission (the “SEC”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities… Read More
SEC Charges Couch Oil & Gas in $10 Million Scheme
Securities Lawyer 101 Blog On May 12, 2014, the Securities and Exchange Commission (the “SEC”) filed suit in United States District Court in Dallas, Texas, alleging that, from at least September 2010 through January 2012, Charles O. Couch… Read More
Telexfree Principal Becomes Fugitive By: Brenda Hamilton Attorney, Boca Raton Florida
Securities Lawyer 101 Blog On Friday, May 9, 2014, the U.S. Attorney for the District of Massachusetts charged James M. Merrill and Carlos N. Wanzeler with conspiracy to commit wire fraud in connection with the alleged TelexFree pyramid… Read More
Astrologer Stock Broker, Gurudeo Persaud, Barred by SEC
Securities Lawyer 101 Blog On May 9, 2014, the Securities and Exchange Commission (“Commission”) announced that public administrative proceedings were instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and Section 203(f) of… Read More
SEC Issues Trading Suspension of IMDS By: Brenda Hamilton Attorney
On May 8, 2014, the Securities and Exchange Commission (“Commission”) deems it necessary and appropriate for the protection of investors that public administrative proceedings be instituted pursuant to Section 12(j) of the Securities Exchange Act of 1934 (“Exchange… Read More
SEC Suspends Cannabusiness Group – By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog On May 7, 2014, the Securities and Exchange Commission (“SEC”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (“Exchange Act”), of trading of the securities of Cannabusiness… Read More
Securities Lawyers Gone Wild l Allen Ross Smith Charged
Securities Lawyer 101 Blog On May 2, 2014, the Securities and Exchange Commission (“SEC”) charged Florida lawyer Allen Ross Smith with fraud in connection with his role in in an advance fee investment scam run by the Switzerland-based… Read More
SEC Issues Partial Stay of Conflict Minerals Rules By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog On May 2, 2014, the Securities and Exchange Commission issued an order stating the effective date for compliance with the portions of the Conflict Minerals Rules specifically Exchange Act Rule 13p-1 and Form SD that would… Read More
OTC Pink Current Q & A l By: Brenda Hamilton Attorney
Securities Lawyer 101 Blog Companies quoted with the OTC Pink tier are assigned to one of three tiers by the OTCMarkets based upon the amount of disclosure provided to the public. The OTC Pink Current tier is the highest of… Read More
FINRA Members to Investigate FINRA U-4 Applicants
Securities Lawyer 101 Blog FINRA approved new rules that require member firms to verify the accuracy of information provided by applicants on FINRA U-4 applications. Additionally, FINRA will also review public financial records for all registered representatives who have not… Read More
SEC Charges Barry Bekkedam In Connection with Banyon Fund – By: Brenda Hamilton
The Securities and Exchange Commission (the “SEC”) has filed securities fraud charges against Barry Bekkedam of Hobe Sound, Florida. Bekkedam is the former owner, Chairman, and Chief Executive Officer of Ballamor Capital Management, LLC (“Ballamor”), a formerly SEC-registered… Read More
