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
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
SEC Obtains Final Judgment Against EB-5 Attorneys
The Securities and Exchange Commission (SEC) announced that it has obtained final judgments against a former Los Angeles-based immigration attorney, his wife, his former law firm partner and five entities he controlled for conducting an investment scheme to… Read More
Court Enters Final Judgment Against 5 Companies and Owner
On November 12, 2015 the Securities and Exchange Commission (SEC) announced that the Court awarded summary judgment and entered a final judgment in favor of the SEC against defendants Brett Cooper, Global Funding Systems LLC, Dream Holdings, LLC,… Read More
5 Star Commercial, 5 Star Capital, and Operator Earl Miller Charged with Fraud
The Securities and Exchange Commission (SEC) announced that on November 5, 2015 an emergency enforcement action was filed in federal district court against Earl Miller (Miller) and two private investment vehicles that he controlled, 5 Star Commercial, LLC… Read More
SEC Charges EB-5 Offering Attorneys – Securities Lawyer 101
On December 7, 2015 the Securities and Exchange Commission (SEC) announced a series of enforcement actions against lawyers across the country charged with offering EB-5 investments while not registered to act as brokers. In one case, a lawyer and his firm… Read More
Judgment Entered Against James Louks and FiberPop Solutions
On November 9, 2015, the Securities and Exchange Commission (SEC) announced that on November 4, 2015 the Court entered a partial judgment against James Louks and FiberPop Solutions, Inc. (FiberPop). FiberPop and Louks, founder, President, CEO, Director, and Chairman… Read More
Court Approves Insurance Company’s Final Distribution
On September 30, 2015 the Court approved final distribution that concluded the receivership in the SEC’s litigation against Provident Capital Indemnity, Ltd. The litigation was ended by the Court’s order and was settled with the last remaining defendant,… Read More
Diverse Financial and Principals Charged with Fraud
The SEC filed fraud charges against Diverse Financial Corporation, its CEO, Roy Dekel, and its former President David Kendell on October 28, 2015. The complaint claims that the defendants raised about $3.29 million from at least 16 investors through… Read More
SEC Obtains Asset Freeze Over Joseph Gabalon
The Securities and Exchange Commission (SEC) filed a civil action against defendants Ascenergy LLC and its CEO, Joseph Gabaldon for offering fraudulent oil and gas investments. At the request of the SEC, the U.S. District Court for the District of… Read More
Rebecca Norton Insider Trading Settlement Approved
The Securities and Exchange Commission (SEC) announced that, on October 27, 2015, the United States District Court for the District of Arizona entered a settled final judgment against Rebecca Norton, the remaining defendant in SEC v. Mary Beth… Read More
John Williams Charged with Conducting Misappropriation Scheme and Offering Fraud
On October 20, 2015, the Securities and Exchange Commission (SEC) charged John Clifford Williams with his involvement in a misappropriation scheme. The complaint alleges that Williams misappropriated and diverted more than $3.1 million illicit funds that he accumulated from… Read More
Court Reaches Final Judgement of Disgorgement and Civil Penalties Against Stock Fraudsters
The Securities and Exchange Commission (SEC) announced on October 26, 2015 that on October 23, 2015, the United States District Court for the Eastern District of New York entered a final judgment against two fraudsters, Joseph Catapano and… Read More
Settlement Reached in Vladimir Eydelman Insider Trading Case
On October 23, 2015 the Securities and Exchange Commission (SEC) announced a settlement with a stockbroker who was previously charged with insider trading in advance of over a dozen pending corporate transactions. These charges found Vladimir Eydelman guilty of insider trading and claims… Read More
Donald Lester and His Private Firm Charged with Fraud
On October 16, 2015, the Securities and Exchange Commission (SEC) filed fraud and other charges against Donald Lester and his private equity firm, Rubicon Alliance, LLC (“Rubicon”). According to the SEC’s fraud complaint, from about January 2010 through December… Read More
Hedge Fund Manager Lonny Bernath Charged with Fraud
On October 13, 2015, the Securities and Exchange Commission (SEC) charged a hedge fund manager from Charlotte, Lonny Bernath, with defrauding investors in three hedge funds over several years. The SEC filed a complaint stating that between at least… Read More
SEC Wins Summary Judgment Against Allen Smith
The Securities and Exchange Commission (SEC) announced on October 8, 2015 that Judge Paul Barbadoro of the United States District Court for the District of New Hampshire entered summary judgment in favor of the SEC on its claims… Read More
SEC Obtains Final Judgments Against Operators of a Ponzi Scheme
On October 8, 2015, the Securities and Exchange Commission (SEC) announced that the Court entered final judgments on September 28, 2015, against Garfield Taylor, Jeffrey King, Garfield Taylor, Inc. (“GTI”), Gibraltar Asset Management Group, LLC (“Gibraltar”) and The… Read More
Former Executives of OCZ Technology Group Charged with Fraud
The Securities and Exchange Commission (SEC) on October 6, 2015, charged two former top executives at OCZ Technology Group, Inc. for accounting failures at the now-bankrupt seller of computer memory storage and power supply devices. In a complaint filed in… Read More
Final Judgement Entered Against Amyot And Spencer Pharmaceutical
The Securities and Exchange Commission (SEC) announced October 1, 2015 that on September 30, 2015, the United States District Court for the District of Massachusetts issued an order setting final judgments in an enforcement action filed in December 2012 against… Read More
SEC Charges Executives of ContinuityX Solutions with Fraud
The Securities and Exchange Commission (SEC) announced that it charged two former executives of ContinuityX Solutions, Inc. with fabricating nearly all of the company’s revenue and enriching themselves in the process. Metamora, Illinois-based ContinuityX was a publicly traded… Read More
Charles Riel and REinvest LLC Charged with Securities Fraud
On September 29, 2015, the Securities and Exchange Commission (SEC) charged a company and its manager with securities fraud of their investors by promising them outlandish “low risk” investment returns and then misusing the investors’ money to, among other… Read More
Jose Ramirez Charged by the SEC for Conducting Fraudulent Scheme
On September 29, 2015, the Securities and Exchange Commission (SEC) charged Jose Ramirez, a former top broker at UBS Financial Services Incorporated of Puerto Rico (“UBSPR”), who made material misrepresentations and omissions and conducted a fraudulent scheme that… Read More
SEC Charges Trinity Capital Corporation with Fraud
The Securities and Exchange Commission (SEC) announced on September 28, 2015 that Trinity Capital Corporation and its wholly-owned subsidiary, Los Alamos National Bank, have agreed to pay $1.5 million to settle accounting fraud charges. An SEC investigation found… Read More
Oil and Gas Company and Boiler Room Operator Charged
The Securities and Exchange Commission (SEC) announced on October 1, 2015 fraud charges against an Orange County, Calif. oil and gas company, its CEO, and an Arizona-based boiler room operator. The SEC claims Commodore Financial Corporation, CEO Christopher Schlegel,… Read More
SEC Charges GenAudio and CEO With Fraudulent Stock Offerings
The Securities and Exchange Commission (SEC) filed a civil injunctive action on September 25, 2015, in the United States District Court for the District of Colorado relating to the fraudulent offer and sale of stock in GenAudio, Inc. The SEC… Read More
SEC Charges Six in Securities Fraud Scheme
On September 24, 2015 the Securities and Exchange Commission (SEC) charged six men, including a father and three sons, with securities fraud associated with Gerova Financial Group Ltd., whose shares once traded on the New York Stock Exchange. In a parallel… Read More
