Hedge Fund News From HedgeCo.Net

Category Archives: Insider Trading

SEC Shuts Down $345 Million Fraud and Obtains Asset Freeze

(HedgeCo.Net) The Securities and Exchange Commission has announced it has obtained a court order halting an ongoing Ponzi-like scheme that raised more than $345 million from over 230 investors across the U.S. The SEC also obtained an emergency asset freeze […]

Michigan Registered Representative Charged with Misappropriating Brokerage Customer Funds

(HedgeCo.Net) The Securities and Exchange Commission charged a former registered representative with defrauding his brokerage customers – including many elderly retirees and unsophisticated investors – out of more than $2.7 million in a multi-year investment scam. According to the SEC’s […]

Citigroup and Affiliate Ordered to Pay More Than $12 Million in Disgorgement and Penalties

(HedgeCo.Net) Citigroup Global Markets Inc. allegedly misled users of a dark pool operated by one of its affiliates. The SEC’s order found that Citigroup misled users with assurances that high-frequency traders were not allowed to trade in Citi Match, a […]

Broker-Dealer to Pay $2.75 Million Penalty for Providing Deficient Blue Sheet Data

(HedgeCo.Net) The Securities and Exchange Commission today announced that Convergex Execution Solutions LLC, now known as Cowen Execution Services LLC, will pay $2.75 million to settle charges that the broker-dealer firm provided the SEC with incomplete and deficient securities trading […]

Hedge Fund Adviser Charged With Short-and-Distort Scheme

(HedgeCo.Net) The Securities and Exchange Commission today charged a hedge fund adviser and his investment advisory firm with illegally profiting from a scheme to drive down the price of San Diego-based Ligand Pharmaceuticals Inc., reaping more than $1.3 million of […]

Digital Asset Hedge Fund Manager Charged With Misrepresentations and Registration Failures

(HedgeCo.Net) The Securities and Exchange Commission today announced its first-ever enforcement action finding an investment company registration violation by a hedge fund manager based on its investments in digital assets. The SEC entered an order finding that Crypto Asset Management […]

Two Brokers Charged With Defrauding Customers

(HedgeCo.Net) The Securities and Exchange Commission charged two brokers for recommending excessive levels of trading that were costly for retail customers but lucrative for the brokers. In separate complaints filed in federal court in Manhattan on Friday, the SEC alleges […]

Sanofi Charged With FCPA Violations

(HedgeCo.Net) Paris-based pharmaceutical company Sanofi has agreed to pay more than $25 million to resolve charges that its Kazakhstan and the Middle East subsidiaries made corrupt payments to win business. According to the SEC’s order, the schemes spanned multiple countries […]

SEC Charges Cannabis Investment Fund and Founder in Fraudulent Scheme

(HedgeCo.Net) The Securities and Exchange Commission has charged a Texas-based investment fund and its founder with defrauding investors with false promises of massive returns in cannabis-related businesses. The SEC also issued an alert to warn retail investors about marijuana-related securities […]

Legg Mason Charged With Violating the FCPA

(HedgeCo.Net) The Securities and Exchange Commission has announced that Legg Mason Inc. will pay over $34 million to resolve an SEC charge that the company violated the Foreign Corrupt Practices Act (FCPA) in a scheme to bribe Libyan government officials. […]

Former Senior Executive At Silicon Valley Company Charged with Insider Trading

(HedgeCo.Net) The Securities and Exchange Commission has charged the former Chief Commercial Officer of Redwood City, Calif.-based Qualys, Inc., a cloud security and services company, with insider trading by tipping his brothers in advance of the company’s announcement of poor […]

Buffalo Advisory Firm and Principal Charged With Fraud Relating to Association With Barred Adviser

(HedgeCo.Net) The Securities and Exchange Commission today filed charges against a Buffalo, New York, investment advisory firm and its owner for misleading firm clients about its association with a barred investment adviser, who is also being charged for violating the […]

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