SEC Charges Four in Fraudulent Microcap Manipulation Scheme Orchestrated Through International Account
The SEC charged Morrie Tobin and three other individuals for their roles in a scheme to profit from the manipulation and illegal sale of stock of two publicly traded companies, Environmental Packaging Technologies Holdings, Inc. and CURE Pharmaceutical… Read More
SEC Charges KBR for Inflating Key Performance Metric and Accounting Controls Deficiencies
On July 2, 2018 The Securities and Exchange Commission charged global engineering and construction company KBR Inc. with inflating a key, non-financial statement performance metric known as work in backlog. KBR agreed to pay a $2.5 million penalty to settle the… Read More
SEC Charges Clifton Stanley in Multimillion Dollar Ponzi Scheme Targeting Seniors
On April 6, 2018, the Securities and Exchange Commission charged Clifton Stanley in a $2.4 million Ponzi scheme and in a related, $1.4 million offering fraud targeting retirees. The SEC’s complaint alleges that, from 2010 to 2017, Clifton… Read More
SEC Obtains Final Judgment Against Merrill Robertson Charged With Running $10 Million Fraud
On April 5, 2018, a federal district court in Richmond, Virginia has entered a final judgment against Merrill Robertson, Jr., a former football player charged by the Securities and Exchange Commission with defrauding investors, including coaches he knew from his… Read More
SEC Charges John Jumper with Stealing Millions from a Pension Plan
On April 18, 2018 the Securities and Exchange Commission charged John Jumper with stealing approximately $5.7 million from a Pennsylvania company’s pension plan. According to the SEC’s complaint filed in federal court in Memphis, Tennessee, on three separate… Read More
SEC Obtains Final Judgment Against Vincent Cassano Charged with Fraudulent Stock Promotion Scheme
On April 10, 2018, the U.S. District Court for the Western District of Washington entered a final judgment against Vincent Cassano for his role in a fraudulent stock promotion scheme. According to the SEC’s complaint, Lidingo Holdings, LLC hired… Read More
SEC Charges Brian Sodi, the Penny Stock “Mailman” With Scalping Investors In Gold Mining Stocks
The Securities and Exchange Commission has charged Brian Sodi, a penny stock promoter based in Florida with defrauding investors in a pair of gold mining stocks by secretly amassing shares before touting the companies publicly. He allegedly sold… Read More
Randall James Settles Fraud Charges
On October 27, 2017, Randall James, Nashville, Tennessee resident, who isn’t registered to sell investments, has agreed to settle charges that he defrauded investors in his company Global Maximus Productions, which purportedly produced pay-per-view entertainment and concerts. The SEC… Read More
JustInfo LLC Charged for a Futures Trading Scheme
On October 11, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against JustInfo LLC, a Kentucky-based entity, a California-based tax preparer who solicited investors on behalf of the entity, and the entity’s majority owner, for lying to… Read More
Aegerion Pharmaceuticals Lied About Sales Metrics
On September 22, 2017, the Securities and Exchange Commission (“SEC”) filed fraud charges against Aegerion Pharmaceuticals, a Massachusetts-based bio-pharmaceutical company, that exaggerated how many new patients actually filled prescriptions for an expensive drug that was its sole source of… Read More
Final Judgement Obtained Against Andrew Farmer
On July 24, 2017, the U.S. Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment against Andrew Farmer, whom the SEC charged with orchestrating a pump-and-dump scheme involving a company that purportedly developed revolutionary technology to enable… Read More
Steven Labriola Receives Final Judgement
On July 14, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment in a fraud case against Steven Labriola, the international sales director of a pyramid scheme targeting Latino communities. The final judgment, entered on… Read More
Final Judgements Entered Against LocatePlus Holdings Officers
On June 27, 2017, the Honorable Douglas P. Woodlock of the U.S. District Court for the District of Massachusetts entered final judgments against the former CEO and CFO of LocatePlus Holdings Corp, a Massachusetts-based information technology company. The… Read More
SEC Announces Fraud Charges Against Diana Lovera
On July 14, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Diana Lovera, the former Chief Operating Officer of a Florida-based penny stock company that falsely claimed to be “the largest publicly traded diversified portfolio… Read More
Judgement Entered Against James Trolice
On June 13, 2017, the Honorable William J. Martini of the United States District Court for the District of New Jersey entered a judgment against defendant James Trolice that imposed permanent injunctions and an officer and director bar…. Read More
Pazoo, Inc. Used in Artificial Inflation Scheme
On June 21, 2017, the Securities and Exchange Commission (“SEC”) charged a New Jersey-based group of stock promoters with fraud involving the manipulation and artificial inflation of the share price of a microcap company, Pazoo, Inc. The scheme grossed… Read More
SEC Charges Arista’s CEO and Attorney
On June 20, 2017, the Securities and Exchange Commission (“SEC”) announced charges involving a scheme to disguise the nature of Arista, a public company’s financing amid financial difficulties, and a corresponding manipulation of the price of the company’s… Read More
Mark Northrop Barred by the SEC
On June 19, 2017, the Securities and Exchange Commission (“Commission”) deemed it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 203(f) of the Investment Advisers Act of 1940… Read More
Final Judgement Against GAW Miners and ZenMiner
On June 2, 2017, the U.S. District Court for the District of Connecticut entered a final default judgment against two Connecticut-based companies, GAW Miners, LLC and ZenMiner, LLC, in a case alleging that these companies and their principal… Read More
Larry Holley Charged with Fraud
On March 30, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges and an emergency asset freeze obtained against Larry Holley, a Michigan-based pastor, accused of exploiting church members, retirees, and laid-off auto workers who were misled to… Read More
Barclays Capital Required to Refund Advisory Fees by SEC
On May 10, 2017, the Securities and Exchange Commission (“SEC”) announced an enforcement action requiring Barclays Capital to refund advisory fees or mutual fund sales charges to clients who were overcharged. In a settlement of more than $97 million,… Read More
SEC Suspends Mark McKinnies
On April 21, 2017, the Securities and Exchange Commission (“SEC”) deemed it appropriate and in the public interest that public administrative proceedings are instituted against Mark McKinnies pursuant to Rule 102(e)(3)(i) of the Commission’s Rules of Practice. Rule 102(e)(3)(i)… Read More
SEC Charges Kevin Amell with Fraud
On April 24, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Kevin Amell, a Massachusetts-based portfolio manager accused of diverting at least $1.95 million to his personal brokerage account from a fund over which he… Read More
SEC Charges Lucita Zamoras with Operating a Fraudulent Promissory Note Scheme
The SEC’s complaint, filed in federal court in the Northern District of Illinois, alleges that Lucita Zamoras solicited investors for a promissory note program and subsequently misappropriated the investors’ funds. From at least October 2009 through December 2013,… Read More
SEC Case Against Lionshare Faud Enters Final Default Judgement
On April 14, 2017, a federal court in Boston, Massachusetts, entered a final default judgment in an ongoing SEC enforcement action against Lionshare Ventures, LLC, a Massachusetts-based privately-held corporation that the SEC alleges was a business incubator for… Read More
Judgment Entered in Safety Technologies Unregistered Securities Offering
On April 4, 2017, a final judgment was entered against Safety Technologies LLC (“Safety Technologies”) and Thomas Connerton for defrauding investors by misleading them to invest in a purported glove manufacturing company and then diverting their money for Connerton’s… Read More
Southlake Resources Group and Owner Cody Winters Charged with Fraud
Texas company Southlake Resources Group, LLC and its president Cody Winters have agreed to pay over $5.4 million to settle charges by the Securities and Exchange Commission (“SEC”) that they orchestrated an oil-and-gas fraud. The SEC also charged the… Read More
Aegis Oil and President Patrick Beason Charged with Oil and Gas Fraud
On September 29, 2016, the Securities and Exchange Commission (“SEC”) charged Aegis Oil, LLC and its President and CEO Patrick Reagan Beason with defrauding investors in oil and gas projects managed by Aegis. According to the SEC’s complaint filed… Read More
