Hedge Fund News From HedgeCo.Net


Category Archives: HedgeCoVest News

Portfolio Manager and Advisory Firm Charged with Misrepresenting Risk in Mutual Fund

(HedgeCo.Net) A New York-based investment adviser has been charged for misleading investors about the management of risk in a mutual fund. Catalyst Capital Advisors LLC (CCA) and its President and Chief Executive Officer, Jerry Szilagyi, agreed to pay a combined […]

Husband and Wife Charged in Alleged Nearly $1 Billion Ponzi Scheme

(HedgeCo.Net) A California-based couple has been charged with orchestrating a nearly billion-dollar Ponzi scheme involving alternative energy tax credits. According to the SEC’s complaint, Jeffrey and Paulette Carpoff raised approximately $910 million from 17 investors between 2011 and 2018 by […]

Over $63 Million to Be Returned to Investors in Alleged Real Estate Investment Fraud

(HedgeCo.Net) The Securities and Exchange Commission today announced that it has obtained a court order authorizing the distribution of over $63 million to investors in connection with a previously filed action. This amount represents the full return of funds to […]

CFTC Orders Australian Company to Pay $1 Million for Spoofing

(HedgeCo.Net) The Commodity Futures Trading Commission has settled charges against Propex Derivatives Pty Ltd, a proprietary trading firm headquartered in Australia, for spoofing in the Chicago Mercantile Exchange E-mini S&P 500 futures market. The order finds that Propex, through a […]

Charges Filed Against Scheme to Sell Fictitious Interests in Marijuana Company

(HedgeCo.Net) The Securities and Exchange Commission has charged Guy S. Griffithe and Robert W. Russell, and three companies they controlled, for an alleged scheme that defrauded investors who thought they were purchasing interests in a Washington-licensed recreational cannabis company out […]

SEC Charges Founder of Purported Blockchain Marketplace for Fraudulent ICO

(HedgeCo.Net) The Securities and Exchange Commission charged a purported blockchain-marketplace company and its founder with conducting a fraudulent initial coin offering (ICO) of unregistered digital asset securities. As alleged in the SEC’s complaint, Sergii “Sergey” Grybniak and his company Opporty […]

SEC Charges Individual with Acting as an Unregistered Broker

(HedgeCo.Net) The Securities and Exchange Commission has charged Allan L. Lundervold with selling nearly $9 million in unregistered securities without being registered as or associated with a registered broker-dealer. According to the SEC’s complaint, from 2012 through 2015, Lundervold, who […]

Eight Unregistered Brokers Charged for Participation in Fraudulent Offerings of Microcap Securities

(HedgeCo.Net) The Securities and Exchange Commission has charged Gregory Drake, Scott Messier, Jay Scoratow, Jason St. Amour, and David Wolfson with fraud for their participation in a matched-trading scheme involving dozens of microcap securities. The SEC also charged Thomas Brooks, […]

Alledged Ponzi-Like Scheme Raises $75 Million From 500 investors in United States.

(HedgeCo.Net) The Securities and Exchange Commission has announced that it filed an emergency enforcement action and obtained a temporary restraining order and asset freeze against Illinois resident Kenneth D. Courtright, III and his company, Todays Growth Consultant Inc., in connection […]

Two Attorneys Charged In Fraudulent Scheme to Issue False Legal Opinions

(HedgeCo.Net)The SEC has charged Diane Dalmy for concealing from transfer agents and brokerage firms her involvement in preparing legal opinion letters concerning the sale of certain microcap securities. According to the SEC’s complaint, Dalmy had been placed on the prohibited […]

Court Orders Fund Adviser to Pay More Than $31 Million

(HedgeCo.Net) A federal district court has ordered San Francisco-based fund adviser Michael B. Rothenberg to pay more than $31 million in disgorgement, prejudgment interest, and penalties in connection with the misappropriation of investor money. The SEC’s complaint, alleged that Rothenberg […]

CFTC Orders South Korean Company to Pay $700,000 for Spoofing

(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against Mirae Asset Daewoo Co., Ltd. for spoofing in the Chicago Mercantile Exchange (CME) E-mini S&P 500 futures market. The order finds that Daewoo Securities […]