SEC Charges Marc Tager and Jersey Consulting with Defrauding Investors in “Soil Remediation” Scam
The Securities and Exchange Commission announced charges against Marc Andrew Tager and Jersey Consulting LLC, a Utah-based company and several solicitors of the company’s securities in an ongoing offering fraud that has already targeted more than 80 individual… Read More
SEC Charges Beaufort Securities for Manipulative Trading in Microcap Penny Stocks
On March 2, 2018, the Securities and Exchange Commission The SEC announced securities fraud charges against Beaufort Securities, a U.K.-based broker-dealer and its investment manager in connection with manipulative trading in the securities a U.S.-based microcap issuer. The… Read More
Americrude Charged by SEC – Posted by Brenda Hamilton, Securities Attorney
On March 8, 2018, the Securities and Exchange Commission charged Americrude, Inc. a Dallas-based oil-and-gas company and two of its executives with defrauding investors out of at least $950,000 through a string of fraudulent oil-and-gas securities offerings. The… Read More
SEC Charges Elizabeth Holmes and Theranos Inc – Securities Lawyers
On March 14, 2018, the Securities and Exchange Commission charged Elizabeth Holmes and Silicon Valley-based private company Theranos Inc., with raising more than $700 million from investors through an elaborate, years-long fraud scheme in which they exaggerated or made… Read More
SEC Charges Jon E. Montroll and Bitfunder with Bitcoin Fraud
On February 21, 2018, the Securities and Exchange Commission charged a former bitcoin-denominated platform known as BitFunder and its operator with operating an unregistered securities exchange and defrauding users of that Bitcoin exchange. The SEC also charged the… Read More
SEC Charges McKinley Mortgage with Scheme to Defraud – Posted by Brenda Hamilton
One March 22nd the Securities and Exchange Commission announced settled charges against McKinley Mortgage, the operators of a real estate investment business who engaged in a years-long scheme to bilk hundreds of investors – including many retail investors… Read More
John Venditto and Oyster Bay Charged by SEC
On November 21, 2017, the Securities and Exchange Commission (“SEC”) announced Oyster Bay, New York, and its former top elected official with defrauding investors in the town’s municipal securities offerings by hiding the existence and potential financial impact… Read More
Thomas Buck Settles Charges
On October 31, 2017, Thomas Buck, former Merrill Lynch broker, has agreed to pay more than $5 million to settle SEC charges that he fraudulently schemed to increase his personal income by obtaining excessive commissions and fees from… Read More
SEC Charges Attorney Marc Celello
On October 5, 2017, the Securities and Exchange Commission (“SEC”) announced that it filed fraud charges against an attorney Marc Celello based on his alleged participation in a Ponzi scheme. The SEC’s complaint, filed in federal court in… Read More
Scott Newsholme Charged with Stealing Investor Funds
On September 6, 2017, the Securities and Exchange Commission (“SEC”) charged Scott Newsholme, a New Jersey-based tax preparer and investment adviser, with stealing more than $1 million from clients to support his gambling habit and other personal expenditures. The… Read More
Leon Vaccarelli Charged With Fraud
On August 31, 2017, the Securities and Exchange Commission (“SEC”) charged Connecticut-based broker representative and investment adviser Leon Vaccarelli and his company with fraudulently persuading several elderly customers to invest with him and then spending their money on… Read More
Lek Securities Motion to Dismiss Denied
On August 25, 2017, the Honorable Denise L. Cote of the U.S. District Court for the Southern District of New York denied a motion by Lek Securities Corporation and its Chief Executive Officer, Samuel Lek, to dismiss the… Read More
Adesh Tyagi Receives Final Judgement
On August 21, 2017, the Securities and Exchange Commission (“SEC”) has obtained a final judgment against Adesh Tyagi, the former CEO of a penny stock company charged with making false claims in press releases and engaging in manipulative trading in… Read More
Vergeous LLC, et al. Charged with Offering Fraud
On August 16, 2017, the Securities and Exchange Commission (“SEC”) announced that Vergeous LLC and Dream Team Partners LLC, two Florida-based video game development companies, and their principal have agreed to pay approximately $293,000 for misleading investors in video game… Read More
Banca IMI Securities to Pay $35 Million
On Aug. 18, 2017, the Securities and Exchange Commission (“SEC”) announced that broker Banca IMI Securities Corp, an indirect, wholly-owned U.S. subsidiary of Italian bank Intesa Sanpaolo SpA, has agreed to pay more than $35 million to settle charges… Read More
DiMaria and Gamsey Receive Final Judgements
On August 16, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained final judgments against DiMaria and Gamsey, two former executives of Bankrate Inc. In September 2015, the SEC charged the two executives, Edward DiMaria and… Read More
Final Judgement Obtained Against Louis Martin Blazer III
On August 10, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment against Louis Martin Blazer III, a Pittsburgh, Pa.-based financial adviser, accused of taking money without permission from the accounts of several… Read More
Thrift Savings Plan Used In Fraud Case
On July 31, 2017, the Securities and Exchange Commission (“SEC”) charged four former Atlanta-area brokers with fraudulently inducing federal employees to roll over holdings from their federal Thrift Savings Plan (TSP) retirement accounts into higher-fee, variable annuity products. The… Read More
Charges Announced Against John Thomas Financial
On August 2, 2017, the Securities and Exchange Commission (“SEC”) announced fraud and other charges against two individuals and John Thomas Financial, a related company, for their roles in a manipulative trading scheme involving Liberty Silver Corp., a… Read More
Joey Dodson Charged with Fraud
On July 26, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Joey Dodson, the founder of a collection of businesses known as Citadel Energy, which provided fluid management solutions to the oil and gas industry in… Read More
Alanah, Ascenergy and Gabaldon Final Judgement
On June 12, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment against Ascenergy LLC, Joseph Gabaldon, and Alanah Energy, LLC. The SEC’s complaint alleges that, since at least 2014, Ascenergy and Gabaldon engaged… Read More
Flowers and Nevett Charged with Fraud
On July 19, 2017, the Securities and Exchange Commission (“SEC”) announced fraud charges against Flowers and Nevett, two California men, and a company behind an alleged scheme to manipulate the stock prices of two shell companies. The SEC alleges… Read More
Charles Banks Charged With Fraud
On July 13, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a judgment and industry bar against Charles Banks, an Atlanta-based investment adviser, charged with defrauding a former professional basketball player. According to the SEC’s complaint, Charles… Read More
SEC Obtains Final Judgement for Ryan Petersen
On July 5, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment against Ryan Petersen, the former chief executive officer of OCZ Technology Group Inc. whom the SEC charged with an accounting… Read More
SEC Charges K-T 50 Wells With Fraud
On July 7, 2017, the Securities and Exchange Commission (“SEC”) announced charges against K-T 50 Wells, a purported oil well company, its founders, and three salespeople in connection with a $2.4 million offering fraud. The SEC’s complaint, filed… Read More
Judgement Entered Against Edwards
On June 9, 2017, the Honorable Esther Salas of the U.S. District Court for the District of New Jersey entered judgments against Dwayne Edwards, several entities Edwards used to orchestrate his alleged fraud, and relief defendant Sharon Nunamaker…. Read More
Renwick Haddow Charged with Fraud
On June 30, 2017, the Securities and Exchange Commission (“SEC”) filed fraud charges against Renwick Haddow, the clandestine founder of a purported Bitcoin platform and a chain of co-working spaces located in former bars and restaurants, alleging that he… Read More
SEC Announces Additional Charges Against Anthony Portelli
On June 22, 2017, the Securities and Exchange Commission (“SEC”) announced additional charges in an enforcement investigation involving Anthony Portelli, a Wall Street firm’s securities lending desk, and the improper handling of American Depositary Receipts (ADRs). The SEC’s order… Read More
Seyed Taher Kameli Charged for Defrauding Investors
On June 22, 2017, the Securities and Exchange Commission (“SEC”) charged Seyed Taher Kameli, a Chicago-based immigration attorney, with defrauding investors participating in the EB-5 immigrant investor program by improperly commingling and misusing a portion of the approximately $88.7… Read More
David Fuselier Charged for Fraudulent Scheme
On June 6, 2017, the Securities and Exchange Commission (“SEC”) charged David Fuselier, a chief executive officer, with perpetrating a fraudulent scheme to create the false appearance of improvement in the financial statements of two publicly traded companies… Read More
