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Category Archives: Insider Trading

Investment Adviser, Pleads Guilty To Criminal Fraud Charges

(HedgeCo.Net) Kimberly Kitts, a Cape Cod-area investment adviser, pleaded guilty to criminal charges filed by the U.S. Attorney for the District of Massachusetts. Kitts admitted to investment adviser fraud, wire fraud and aggravated identity theft in connection with stealing over […]

Final Judgment Against Former Investment Adviser Charged With Misappropriating Client Funds.

The Securities and Exchange Commission has announced a final judgment against Cornelius Peterson, a former investment adviser at a large financial institution who was charged with misappropriating client funds. On January 31, 2018, the Commission filed a complaint in the […]

SEC Charges Giga Entertainment Media, Former Officers and Directors With Fraud in Pay-For-Download Campaign

(HedgeCo.Net) The Securities and Exchange Commission today charged Giga Entertainment Media Inc. and five of its former officers and directors—Gary Nerlinger, Jarret Streiner, Lawrence Silver, Alfred Colucci, and Charles Noska—with fraud in connection with a scheme to mislead investors. According […]

SEC Brings Additional Charges in New York Boiler Room Scheme Targeting Seniors

(HedgeCo.Net) The Securities and Exchange Commission today brought additional charges against a Long Island, New York-based boiler room previously sued for defrauding elderly and unsophisticated investors. The latest charges allege that First Choice Healthcare Solutions Inc. CEO Christian Romandetti, the […]

SEC Settles Insider Trading Claims Against Former Chairman and CEO of Advanced Medical Optics

(HedgeCo.Net) The Securities and Exchange Commission has announced that it has agreed to resolve its insider trading claims against James V. Mazzo, the former Chairman and Chief Executive Officer of Advanced Medical Optics, Inc. (AMO) for allegedly tipping information about […]

Former Investment Adviser Pleads Guilty to Fraud and Lying to the SEC

(HedgeCo.Net) Richard G. Cody, a former investment adviser and broker representative whom the Securities and Exchange Commission charged with defrauding Massachusetts retirees, has pled guilty to criminal charges filed by the U.S. Attorney for the District of Massachusetts. According to […]

Court Orders Wife of Accused Ponzi Schemer to Pay Millions of Dollars

(HedgeCo.Net) The Securities and Exchange Commission charged Joseph Meli in January 2017 with fraud for running a Ponzi scheme. The SEC alleged that Joseph Meli raised money from investors to fund businesses purportedly created to purchase and resell tickets to […]

Stock Research Firm and Co-Founders Charged With Deceiving Investors

(HedgeCo.Net) The Securities and Exchange Commission has charged a stock research firm and its co-founders with defrauding investors by issuing reports purportedly based on “unbiased” and “not paid for” research when in reality they received thousands of dollars from issuers […]

Network Marketer Charged with Masterminding a Multimillion Dollar Ponzi and Pyramid Scheme

(HedgeCo.Net) The Securities and Exchange Commission has charged an individual and seven corporate entities that he controlled with defrauding investors through the promotion and operation of a multimillion dollar Ponzi and pyramid scheme. The SEC alleges that Eric J. “EJ” […]

ITG Charged With Misleading Dark Pool Subscribers

(HedgeCo.Net) The Securities and Exchange Commission today announced that ITG Inc. and its affiliate AlterNet Securities Inc. have agreed to pay $12 million to settle charges arising from ITG’s misstatements and omissions about the operation of the firm’s dark pool, […]

Citibank to Pay More Than $38 Million for Improper Handling of ADRs

(HedgeCo.Net) The Securities and Exchange Commission today announced that Citibank N.A. has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). ADRs – U.S. securities that represent foreign shares of a foreign […]

SEC Charges Businessman and Lawyer in Fraudulent Eb-5 Scheme

(HedgeCo.Net) The Securities and Exchange Commission charged a businessman and a California-based attorney with defrauding investors seeking to participate in the EB-5 immigrant investor program, stealing their money to fund personal expenses. The SEC’s complaint alleges that Robert A. Ferrante […]

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