Frank Lleras Charged with Conducting a Fraudulent Investment Scheme
On February 10, 2016, the Securities and Exchange Commission (SEC) charged Frank Lleras and two Charlotte, North Carolina-based companies that he controls, Optimum Income Property, LLC and Optimum Property Investments, LLC, with conducting an offering fraud lasting more… Read More
Court Enters Final Judgment Against Moazzam “Mark” Malik and Wolf Hedge LLC
The Securities and Exchange Commission (SEC) announced that on February 9, 2016, the Court for the Southern District of New York entered a final judgment against Defendants Moazzam “Mark” Malik, a Pakistani citizen and New York City resident,… Read More
Penny Stock Issuers and Their Principals Charged with Fraud
The Securities and Exchange Commission (SEC) charged two penny stock issuers and their principals with fraud for disseminating false and misleading press releases and other related documents about purported involvement in the marijuana industry. The SEC’s complaint against… Read More
SEC Charges American Growth Funding II with Fraud
On February 3, 2016, the Securities and Exchange Commission (SEC) charged a lending company in Manhattan, American Growth Funding II LLC and its owner, Ralph Johnson, with repeatedly lying to investors who purchased high-yield securities. The SEC… Read More
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 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 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
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
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
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
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
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
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
SEC Charges Hui Feng With EB-5 Offering Fraud
The SEC filed a complaint alleging that Hui Feng and his firm, Law Offices of Feng & Associates P.C., acted as unregistered brokers by selling EB-5 investments to over 100 foreign investors, who were also their legal clients,… 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
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
