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
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
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
Brown Investment Advisors Charged with Operating Three Offering Frauds
A settled civil injunctive action was filed by the Securities and Exchange Commission (SEC) against two Pennsylvania investment advisers, Kevin Brown and his father, George Brown, (collectively, the “Browns”), and several entities they managed, for conducting three offering frauds over the… Read More
SEC Obtains Summary Judgment Against Andrew Farmer in Pump-And-Dump Scheme
The Securities and Exchange Commission (SEC) announced on October 9, 2015, that on October 7, 2015, it secured a summary judgment on all of its claims against Andrew Farmer in a market manipulation case involving the securities of Chimera… Read More
SEC Charges Steve Chen With Fraud and Imposes Asset Freeze
On September 22, 2015, the Securities and Exchange Commission (SEC) filed, under seal, fraud charges and, on September 28, obtained asset freezes against the operator of a worldwide pyramid scheme that falsely promised investors would profit from a… 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
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
SEC Charges Manny Shulman and David Hirschman
On September 3, 2015, the Securities and Exchange Commission (“SEC”) charged Manny J. Shulman and David Hirschman for their involvement in the fraudulent, unregistered sale of securities of Caribbean Pacific Marketing, Inc. (“Caribbean Pacific”), a now-defunct Florida corporation… Read More
SEC Halts Harrison Schumacher In California-Based Oil and Gas Investment Fraud
On August 27th, 2015, the Securities and Exchange Commission (SEC) announced fraud charges and an emergency asset freeze to halt a California-based scheme involving purported investments in oil and gas projects. According to the SEC’s complaint filed under… Read More
Cashflowbot.com Operator Charged In Ponzi Scheme
On April 14, 2015, the operator of a website at Cashflowbot.com was charged in a ponzi scheme. According to the SEC charges, the perpetrator of the ponzi scheme raised money from more than 3,000 investors between January 2012 and… Read More
Jonathan Bryant Ordered to Pay Over $3 Million For 8000 Inc Scam
The Securities and Exchange Commission (the “SEC”) announced that on April 7, 2015, the U.S. District Court for the Southern District of New York entered a final judgment against Jonathan E. Bryant which ordered him to pay $3,168,184.70… Read More
SEC Obtains Officer-Director and Penny Stock Bar Against Michael Cohen
On March 6, 2015, the Securities and Exchange Commission (“SEC”) announced that the United States District Court of New Jersey entered a judgment against Michael M. Cohen. Cohen received a lifetime officer-director bar, lifetime penny stock bar and… Read More
SEC Charges Oppenheimer For Penny Stock Sales
Last week, the Securities and Exchange Commission (“SEC”) announced charges against Oppenheimer & Co. for violations of federal securities laws for improperly selling penny stocks in unregistered offerings on behalf of customers. Oppenheimer agreed to admit wrongdoing and pay $10 million to… Read More
SEC Settles Charges Against Joseph Saranello
On December 17, 2014, the Securities and Exchange Commission (the “SEC”) announced settled charges against Joseph Saranello who participated in a pump-and-dump scheme involving the stock of Rudy Nutrition. The SEC previously charged thirteen other individuals in the… Read More
Founder of iShopNoMarkup Found Guilty
Securities Law Blog On October 14, 2014, a jury in federal court in Central Islip, New York returned a verdict in favor of the Securities and Exchange Commission (the “SEC”) finding the former Chairman of failed Long Island-based… Read More
Craig Karlis Sentenced to 9 Years For Fraud Charges
The Securities and Exchange Commission (the “SEC”) announced that on September 16, 2014, the former owner of a Boston Trading and Research, LLC (“BTR”), was sentenced to nine years in prison after pleading guilty to charges that he… Read More
SEC Charges 8 in Pump and Dump Scheme
On September 18, 2014, the Securities and Exchange Commission (the “SEC”) announced charges against eight individuals for their roles in an alleged pump-and-dump scheme involving a penny stock company based in California that has repeatedly changed its name and… Read More
Securities Lawyers Gone Wild – Justin Lee Charged in EB-5 Scheme
On September 3, 2014, the Securities and Exchange Commission (the “SEC”) charged an immigration and securities attorney, his wife, and his law firm partner with conducting an investment scheme to defraud foreign investors trying to come to the… Read More
Court Awards SEC Judgments Of Almost $70 Million Against Defendants
Securities Law Blog On August 9, 2014, the SEC announced that the U.S. District Court for the Eastern District of Tennessee issued final SEC judgments against AIC, Inc., Community Bankers Securities, LLC, and Nicholas D. Skaltsounis and Relief… Read More
SEC Charges Brokers and Codesmart Executive in Pump-And-Dump Scheme
On July 17, 2014, the SEC charged individuals who pocketed millions of dollars running an elaborate pump-and-dump scheme involving shares of a medical education company in Pennsylvania and two other microcap stocks. The SEC alleges that the stock… Read More
Securities Lawyers Gone Wild – Marcus Luna
On June 27, 2014, the U.S. District Court of Nevada issued an order imposing sanctions against a securities attorney, Marcus Luna, three other individuals – Nathan Montgomery, Adam Daskivich, and David Murtha – and their businesses for their… 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 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 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
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 Charges Joseph Signore in Ponzi Scheme
Securities Lawyer 101 Blog On April 8, 2014, the Securities and Exchange Commission announced fraud charges and an asset freeze against the operators of a South Florida-based Ponzi scheme targeting investors through YouTube videos and selling them
SEC Charges Empire Stock Transfer l Securities Lawyer 101 Blog
Securities Lawyer 101 Blog On April 8, 2014, the Securities and Exchange Commission announced enforcement actions against two leaders at a Las Vegas-based transfer agent firm who were responsible for disclosure failures in registration forms filed with the… Read More
