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Category Archives: HedgeCoVest News

Settlement Concluded with Broker in Case Alleging Public Offering Allocation Fraudulent Practices

(HedgeCo.Net) The U.S. District Court for the District of New Jersey has entered a final judgment against defendant Brian Hirsch, who was charged by the SEC in connection with public offering allocation practices at two large brokerage firms. The SEC’s […]

Charges Filed in Elaborate Microcap Stock Fraud

(HedgeCo.Net) Four individuals and related businesses have been charged for their roles in two microcap frauds and unlawful securities offerings. In sum, the alleged illegal transactions resulted in proceeds of more than $25 million. According to the SEC’s complaint, from […]

Deloitte Japan Charged With Violating Auditor Independence Rules

(HedgeCo.Net) Deloitte Touche Tohmatsu LLC (Deloitte Japan) will pay $2 million to settle charges that it issued audit reports for an audit client at a time when dozens of its employees maintained bank accounts with the client’s subsidiary. According to […]

SEC Charges Former Senior Attorney at Apple With Insider Trading

(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against a former senior attorney at Apple whose duties included executing the company’s insider trading compliance efforts. The SEC’s complaint alleges that Gene Daniel Levoff, an attorney who previously […]

Court Enters Judgment Against Microcap Company and Two Promoters in Pump-And-Dump Scheme, Ordering Each Promoter to Pay Over $4.6 Million

(HedgeCo.Net) Jason McDiarmid, Kenneth George Cedric Telford, and Stop Sleep Go, Inc., formerly known as Interactive Multi-Media Auction Corp, have all been charged with running a pump-and-dump scheme in Interactive Multi-Media’s stock. The complaint alleged that McDiarmid and Telford took […]

SEC Obtains Judgment Against Donato Baca, Jr. in Ponzi Scheme

(HedgeCo.Net) The SEC has charged Baca, his business partner, Jonny Ngo, and NL Technology, LLC with lying to investors. According to the SEC’s complaint, NL Technology, Ngo, and Baca raised more than $61 million from over 350 investors by falsely […]

New Jersey Resident Charged with Ponzi Scheme Targeting Retail Investors

(HedgeCo.Net) The Securities and Exchange Commission has obtained a final judgment against a New Jersey resident who was charged by the agency with stealing more than $250,000 in a Ponzi scheme in which his friends and coworkers invested. The court’s […]

SEC Charges Founder of Online Gaming Company Defrauding Investors

(HedgeCo.Net) The Securities and Exchange Commission today charged Robert Alexander with fraudulently raising approximately $9 million from more than 50 individuals by selling investments in Kizzang LLC, a purported online gaming business. According to the SEC’s complaint, among other misrepresentations, […]

Four Public Companies Charged With Longstanding ICFR Failures

(HedgeCoNet) The Securities and Exchange Commission has settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) for seven to 10 consecutive annual reporting periods. Two of the charged companies also failed to complete […]

Two Defendants Charged with Lying to the SEC Sentenced in Microcap Fraud Case

(HedgeCo.Net) A stock promoter and a former chairman of a Massachusetts-based medical diagnostics company previously called Endeavor Power Corp were sentenced in a federal court in Boston, Massachusetts in a related criminal case brought by the Massachusetts U.S. Attorney’s Office. […]

Court Grants Partial Summary Judgment in Fraud Case Against Advisor and Two Advisory Firms

(HedgeCo.Net) The United States District Court for the Northern District of Georgia granted in part and denied in part the SEC’s motion for partial summary judgment against Thomas Conrad, Jr. and two unregistered advisory firms he controlled, Financial Management Corporation […]

SEC Obtains Fraud Judgment Against Co-Owner of Defunct New York-Based Investment Adviser

(HedgeCo.Net) The U.S. District Court for the Southern District of New York has entered a judgment against Andrew B. Scherr, the co-owner of Southport Lane Management, LLC, a now defunct New York-based private equity firm. The SEC charged Scherr in […]

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