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Category Archives: HedgeCo Networks Press Releases

SEC Charges Fintech Company Founder With Scheme to Defraud Investors and Misappropriate Funds

(HedgeCo.Net) The Securities and Exchange Commission has charged Michael Liberty, the founder of the fintech startup now known as Mozido Inc., with a scheme to trick hundreds of investors into investing in his shell companies instead of Mozido. Liberty and […]

SEC Charges Prominent Pastor, Financial Planner in Scheme to Defraud Elderly Investors

(HedgeCo.Net) The Securities and Exchange Commission has charged the pastor of one of the largest Protestant churches in the country and a self-described financial planner in a scheme to defraud elderly investors by selling them interests in defunct, pre-Revolutionary Chinese […]

Broker-Dealer Admits It Failed to File SARs

(HedgeCo.Net) Aegis Capital Corporation, a New York-based brokerage firm, has admitted that it failed to file Suspicious Activity Reports (SARs) on numerous suspicious transactions. Broker-dealers are required to file SARs for certain transactions suspected to involve fraudulent activity or have […]

SEC Charges Recidivist Broker-Dealer in Employee’s Long-Running Pump-and-Dump Fraud

(HedgeCo.Net) The Securities and Exchange Commission announced charges against Wedbush Securities Inc. for failing to supervise employee Timary Delorme after the broker-dealer ignored numerous red flags indicating that Delorme was involved in a long-running pump-and-dump scheme targeting retail investors. Delorme […]

Kinross Gold Charged With FCPA Violations

(HedgeCo.Net) The Securities and Exchange Commission today announced a settled action against Canada-based Kinross Gold Corporation for Foreign Corrupt Practices Act violations arising from the company’s repeated failure to implement adequate accounting controls of two African subsidiaries. According to the […]

SEC Stops Ponzi-Schemer Targeting Retail Investors

(HedgeCo.Net) The Securities and Exchange Commission has announced charges and a preliminary injunction and asset freeze against Niket Shah, a New Jersey resident who stole more than $250,000 in a Ponzi scheme in which his friends and coworkers invested. Based […]

Theranos, CEO Holmes, and Former President Balwani Charged With Massive Fraud

(HedgeCo.Net) The Securities and Exchange Commission has charged Silicon Valley-based private company Theranos Inc., its founder and CEO Elizabeth Holmes, and its former President Ramesh “Sunny” Balwani with raising more than $700 million from investors through an elaborate, years-long fraud […]

SEC Announces Its Largest-Ever Whistleblower Awards

(HedgeCo.Com) The Securities and Exchange Commission has announced its highest-ever Dodd-Frank whistleblower awards, with two whistleblowers sharing a nearly $50 million award and a third whistleblower receiving more than $33 million. The previous high was a $30 million award in […]

Broker Charged With Repeatedly Putting Customer Assets At Risk

(HedgeCo.Net) The Securities and Exchange Commission has announced that Electronic Transaction Clearing (ETC), a registered broker-dealer headquartered in Los Angeles, has agreed to settle charges that it illegally placed more than $25 million of customers’ securities at risk in order […]

SEC Proposes Transaction Fee Pilot for NMS Stocks

(HedgeCo.Net) The Securities and Exchange Commission has voted to propose new Rule 610T of Regulation NMS to conduct a Transaction Fee Pilot in NMS stocks. The proposed pilot would subject stock exchange transaction fee pricing, including “maker-taker” fee-and-rebate pricing models, […]

Former Equifax Executive Charged With Insider Trading

(HedgeCo.Net) The Securities and Exchange Commission has charged a former chief information officer of a U.S. business unit of Equifax with insider trading in advance of the company’s September 2017 announcement about a massive data breach that exposed the social […]

Foreign Affiliates of KPMG, Deloitte, BDO Charged in Improper Audits

(hedgeCo.Net) The Securities and Exchange Commission today charged foreign affiliates of KPMG, Deloitte & Touche, and BDO for their involvement in audit work that circumvented the full oversight of the Public Company Accounting Oversight Board (PCAOB). The firms agreed to […]

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