Hedge Fund News From HedgeCo.Net


Five Individuals Charged with Running a Pump-and-Dump Scheme

(HedgeCo.Net) The U.S. Securities and Exchange Commission filed settled charges against five individuals for orchestrating a fraudulent pump-and-dump scheme involving multiple penny stocks. The SEC alleges that between May 2011 and May 2017, Andrew I. Farmer of Katy, Texas, Scott […]

SEC Freezes Assets of Online Auction Portal and Its CEO Associated with $23 Million

The Securities and Exchange Commission has filed fraud charges against Collectors Café, an online auction portal, and its chief executive officer, Mykalai Kontilai, for misappropriating over $6 million of investor funds in a $23 million offering fraud. The SEC obtained […]

Jury Finds Brokerage Firm and Two of Its Executives Liable for Fraud

(HedgeCo.Net) Jurors in Manhattan federal court have returned a verdict in the Securities and Exchange Commission’s favor against a brokerage firm and two of its executives. The SEC charged the brokerage firm, Portfolio Advisors Alliance Inc. (PAA), Howard J. Allen, […]

SEC Proposes Actions to Improve Cross-Border Application of Security-Based Swap Requirements

(HedgeCo.Net) The Securities and Exchange Commission is proposing a new package of rule amendments and interpretive guidance to improve the framework for regulating cross-border security-based swaps transactions and market participants. The proposals are intended to improve the regulatory framework by […]

Court Orders Robert M. Morano to Pay Insider Trading Penalty

(HedgeCo.Net) The U.S. District Court for the District of Oregon entered a final judgment against Robert M. Morano ordering him to pay a $75,000 insider trading penalty, which represents approximately two times the amount of Morano’s illegal trading profits. The […]

Final Judgment Entered Against Former Broker for Defrauding Customers

(HedgeCo.Net) A federal district court entered a final consent judgment against a broker who was charged with defrauding customers by making unsuitable and unauthorized trades and churning customers’ accounts, which enriched the broker at the customers’ expense. The SEC’s complaint, […]

Two Internal Auditors Charged with Repeated Insider Trading

(HedgeCo.Net) insider trading charges were filed against two internal auditors who repeatedly traded and tipped on confidential information that they obtained through their respective employers. The SEC’s complaint, filed in the U.S. District Court for the Western District of Tennessee, […]

SEC Charges Nevada Man Who Traded on Confidential Information Taken From Lifelong Friend

(HedgeCo.Net) The Securities and Exchange Commission today announced settled insider trading charges against a Nevada man who obtained confidential information about a pending corporate merger from a lifelong friend and used it to generate more than $250,000 in illicit trading […]

Final Judgment Against Former Broker for Defrauding Customers

(HedgeCo.Net) A federal district court has entered a final consent judgment against a broker who was charged with defrauding customers by making unsuitable and unauthorized trades and churning customers’ accounts, which enriched the broker at the customers’ expense. The SEC’s […]

Sapphire Glass Manufacturer and Former CEO Charged With Fraud

(HedgeCo.Net) The Securities and Exchange Commission has charged a New Hampshire-based company and its former CEO with misleading investors about the company’s ability to supply “sapphire glass” for Apple’s iPhones. The company, GT Advanced Technologies Inc., also is found to […]

San Diego-Based Investment Adviser Charged with Running a Ponzi Scheme

(HedgeCo.Net) The Securities and Exchange Commission charged Christopher D. Dougherty and several entities he controlled, with operating a Ponzi scheme that defrauded his investment advisory clients out of $7 million. The San Diego District Attorney’s Office separately announced criminal charges […]

SEC Obtains Asset Freeze in Connection with Alleged Insider Trading

(HedgeCo.Net) The Securities and Exchange Commission has announced the entry of an emergency court order freezing assets related to alleged insider trading that yielded approximately $2.5 million in profits in connection with the April 12, 2019 announcement that oil-and-gas conglomerate […]

Fraud Charges Filed In Ticket Resale Investment Scam

(HedgeCo.Net) The Securities and Exchange Commission has charged a New York City man with continuing a previously charged scheme, stealing millions of dollars from investors who were allegedly falsely promised their funds would be used for the purchase and resale […]

San Diego-Based Investment Adviser Charged with Running a Ponzi Scheme

(HedgeCo.Net) The Securities and Exchange Commission has charged Christopher D. Dougherty and several entities he controlled, with operating a Ponzi scheme that defrauded his investment advisory clients out of $7 million. The San Diego District Attorney’s Office separately announced criminal […]

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