Marc Broidy & Broidy Wealth Advisors Receive Final Judgement
On May 30, 2017, the Honorable Eric N. Vitaliano of the United States District Court for the Eastern District of New York entered a final consent judgment against defendants Marc Broidy and Broidy Wealth Advisors, LLC (“BWA”), enjoining… Read More
Alpine Securities Fails to Comply to Anti-Money Laundering Law
On June 5, 2017, the Securities and Exchange Commission (“SEC”) charged Alpine Securities Corporation, a Salt Lake City-based brokerage firm, with securities law violations related to its alleged practice of clearing transactions for microcap stocks that were used in… Read More
Verto Capital Settles Charges for Ponzi-like Scheme
On May 4, 2017, the Securities and Exchange Commission (“SEC”) announced that Verto Capital Management, a New Jersey-based firm, and its CEO have agreed to pay more than $4 million to settle charges that they used new investor money… Read More
Centers for Medicare and Medicaid Services Employees Charged with Insider Trading
On May 24, 2017, the Securities and Exchange Commission (“SEC”) announced charges in an alleged insider trading scheme involving tips of nonpublic information about government plans to cut Medicare reimbursement rates by former Centers for Medicare and Medicaid Services… Read More
SEC Files Fraud Charges Against Robert Murray
On May 19, 2017, the Securities and Exchange Commission (“SEC”) filed fraud charges against Robert Murray, a Virginia-based mechanical engineer accused of scheming to manipulate the price of Fitbit stock by making a phony regulatory filing. According to the… Read More
SEC Charges David Humphrey with Securities Fraud
On May 9, 2017, the Securities and Exchange Commission (“SEC”) charged David Humphrey, a former employee, with securities fraud in connection with his trading of options and other securities. The SEC’s complaint alleges that David Humphrey, who worked… Read More
SEC Charges Nomura Securities International Inc. Head Traders
On May 15, 2017, the Securities and Exchange Commission (“SEC”) charged a pair of former head traders who ran the commercial mortgage-backed securities (CMBS) desk at Nomura Securities International Inc. with deliberately lying to customers in order to… Read More
Walter Little and Neighbor Charged by SEC for Insider Trading
On May 11, 2017, the Securities and Exchange Commission (“SEC”) charged Walter Little, a former partner at an international law firm, and his neighbor with making more than $1 million in illicit profits by insider trading around corporate… Read More
SEC Charges Matthew Krimm with Defrauding Investors
On April 25, 2017, the Securities and Exchange Commission (“SEC”) charged Matthew Krimm, a former mortgage loan officer, with defrauding investors, including mortgage loan customers of his former employer. The SEC’s complaint, filed in federal court in Wilmington,… Read More
SEC Charges Demitrios Hallas for Defrauding Customers
On April 25, 2017, the Securities and Exchange Commission (“SEC”) charged Demitrios Hallas, a former broker, with knowingly or recklessly trading unsuitable investment products in the accounts of five customers and misappropriating more than $170,000 from one of… Read More
SEC Charges Avaneesh Krishnamoorthy with Insider Trading
On April 24, 2017, the Securities and Exchange Commission (“SEC”) charged Avaneesh Krishnamoorthy, a vice president in the risk management department of a New York-based investment bank, with insider trading on confidential information he learned in advance of a… Read More
SEC Charges Brothers for Hydrocarb Fraud Scheme
On April 21, 2017, the Securities and Exchange Commission (“SEC”) has charged two brothers – Kent and Mike Watts – with orchestrating a fraudulent scheme to qualify the stock of Hydrocarb Energy Corporation for listing on a major… Read More
Lightspeed Trading Named Respondent in FINRA Complaint
Lightspeed Trading, LLC (CRD #35519, New York, New York) was named a respondent in a FINRA complaint alleging that it failed to establish, document, and maintain an adequate system of risk management controls and supervisory procedures, including certain… Read More
SEC Charges Matthew Fox with Securities Fraud
On April 19, 2017, the Securities and Exchange Commission (“SEC”) charged Matthew Fox of Plano, Texas and his company, Wayne Energy, LLC, with securities fraud arising from a failed offering of interests in a joint venture formed to… Read More
SEC Charges Michael Shumway with Securities Fraud
On April 8, 2017, the Securities and Exchange Commission (SEC) announced securities fraud charges against Michael Shumway, a former corporate secretary and treasurer of two Utah water companies for misappropriating and fraudulently selling corporate shares. The SEC’s complaint,… Read More
SEC Obtains Injunction and Asset Freeze Against Daniel Glick
On April 13, 2017, the Securities and Exchange Commission (SEC) announced a preliminary injunction against Daniel Glick and his unregistered investment advisory firm Financial Management Strategies (FMS), continued the asset freeze in the name of the Defendants, and… Read More
SEC Charges Lawyers Mustafa Sayid, Norman Reynolds and Paralegal Kevin Jasper in a Stock Manipulation Scheme
On April 12, 2017, the Securities and Exchange Commission (SEC) filed fraud charges against, Mustafa Sayid, a New York City-based securities lawyer for orchestrating taking control of two publicly traded shell companies and rigging them and their securities… Read More
SEC Acquires Asset Freeze Over 4D Circle
On April 14, 2017, the Securities and Exchange Commission announced charges against two Fort Worth residents and their company, 4D Circle, for defrauding investors in a commercial real estate investment scheme. At the SEC’s request, U.S. District Judge… Read More
SEC Final Judgment Entered Against Graduate Leverage
On December 23, 2016, the United States District Court for the District of Massachusetts entered final judgments against Graduate Leverage, LLC, GL Capital Partners, LLC, GL Investment Services, LLC, Taft Financial Services, LLC, and GL Advisor Solutions, Inc. These… Read More
Final Judgment Entered in “Prime Bank” Fraud – By: Brenda Hamilton
On January 13, 2017, the U.S. District Court for the District of Minnesota entered a final judgment against Minnesota resident James M. Louks and his company, FiberPoP Solutions, Inc. Louks and FiberPoP are defendants in an SEC civil… Read More
Blackbird Capital Partners LLC and Owners Charged in Ponzi Scheme
On November 28, 2016, the Securities and Exchange Commission (“SEC”) obtained a temporary restraining order and an emergency asset freeze in a $3 million offering fraud and Ponzi scheme orchestrated by Andrew Kelley, Paul Shumway and their company… Read More
Matthew and William Griffin Charged with Fraud
On November 23, 2016, the Securities and Exchange Commission (“SEC”) filed a civil action charging brothers Matthew Griffin and William Griffin with fraudulently offering interests in two Texas partnerships. The SEC alleges that, between November 2013 and July… Read More
CEO of Warrior Girl Corp. Jason Kumpf Charged with Fraud
On November 21, 2016, the Securities and Exchange Commission (“SEC”) charged Jason William Kumpf, the former CEO and president of microcap issuer Warrior Girl Corp. and a resident of San Francisco, California, with fraud based on his involvement in… Read More
William Allen and Susan Daub Plead Guilty to Wire Fraud
On November 14, 2016 and November 21, 2016, William Allen and Susan Daub pled guilty in federal court to criminal wire fraud and other charges in connection with an investment scheme involving fraudulent loans to professional athletes. The… Read More
Stanley Fortenberry Pleads Guilty to $900,000 Fraud
On November 18, 2016, Stanley Jonathan Fortenberry (a/k/a S.J., John, or Johnny Fortenberry) of San Angelo, Texas, pleaded guilty to an indictment charging him with obstruction of justice and other charges in connection with two investment companies he ran that… Read More
Former KIT Digital Inc. President Gavin Campion Charged with Securities Fraud
The Securities and Exchange Commission (“SEC”) charged Gavin Campion, the former president of KIT Digital Inc., with securities fraud. The SEC’s complaint, filed in federal court in New York on November 15, alleges that over a one-year period… Read More
Francisco Martin Charged with Defrauding Investors in Native American Tribal Bonds
On November 14, 2016, the Securities and Exchange Commission (“SEC”) added Francisco Martin of Woodland Hills, California to a civil injunctive action currently pending in the U.S. District Court for the Southern District of New York, charging him with defrauding… Read More
Government Official Gordon Johnson Reaches Settlement for Insider Trading
On November 14, 2016 the Securities and Exchange Commission (“SEC”) announced that it entered into a settlement agreement with Gordon Johnston, a former official at the U.S. Food and Drug Administration’s Office of Generic Drugs (OGD) who allegedly participated… Read More
Marc Broidy Charged with Defrauding Investors in 3 Separate Schemes
On October 27, 2016 the Securities and Exchange Commission (“SEC”) charged a Los-Angeles based investment advisory firm and its owner, Marc Broidy with fraudulently overbilling clients and stealing assets from their trusts to pay such personal expenses as his… Read More
Lime Energy Co. and Four Execs Charged with Accounting Fraud
On October 17, 2016 the Securities and Exchange Commission (“SEC”) charged Lime Energy Co., an energy services provider and four of its executives for their roles in an accounting fraud in which the company recognized revenue earlier than allowed… Read More
