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Category Archives: Insider Trading

SEC Charges Texas Company, Principals in Multimillion Dollar Ponzi Scheme Targeting Seniors

(HedgeCo.Net) The Securities and Exchange Commission has charged two Texas companies and their principals in a $2.4 million Ponzi scheme and in a related, $1.4 million offering fraud targeting retirees. The SEC’s complaint alleges that, from 2010 to 2017, Clifton […]

SEC Obtains Emergency Freeze of $27 Million in Stock Sales of Purported Cryptocurrency Company Longfin

(HedgeCo.Net) The Securities and Exchange Commission has obtained a court order freezing more than $27 million in trading proceeds from allegedly illegal distributions and sales of restricted shares of Longfin Corp. stock involving the company, its CEO, and three other […]

SEC Orders Three Investment Advisers to Pay $12 Million to Harmed Clients

(HedgeCo.Net) The Securities and Exchange Commission has announced that three investment advisers have settled charges for breaching fiduciary duties to clients and generating millions of dollars of improper fees in the process. According to the SEC’s orders, PNC Investments LLC, […]

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 […]

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 […]

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 […]

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