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Category Archives: Insider Trading

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 […]

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, […]

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 […]

Emergency Action Charges Texas Developer for Multi-Million Dollar Offering Fraud

(HedgeCo.Net) Charges have been filed against Texas resident and real estate developer Phillip Michael Carter, two other individuals, and several related entities for conducting a multi-million dollar offering fraud. The SEC’s complaint alleges that Carter, along with Bobby Eugene Guess […]

Court Orders $1 Billion Judgment Against Operators of Woodbridge Ponzi Scheme Targeting Retail Investors

(HedgeCo.Net) A federal court in Florida has ordered Woodbridge Group of Companies LLC and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors. The Honorable Judge Marcia G. Cooke […]

Judgment Issued Against Former CEO in Transition Management Fraud Case

(HedgeCo.Net) A judgment has been issued against the former CEO of a brokerage consulting business who was charged for his role in a multimillion dollar transition management fraud. The SEC previously charged a brokerage consulting business known as GTS along […]

SEC Brings Charges in Edgar Hacking Case

(HedgeCo.Net) The Securities and Exchange Commission today announced charges against nine defendants for participating in a previously disclosed scheme to hack into the SEC’s EDGAR system and extract nonpublic information to use for illegal trading. The SEC charged a Ukrainian […]

Husband of Investment Banker Charged with Insider Trading

(HedgeCo.Net) The husband of a New York-based banking consultant has been charged with insider trading in advance of an airline merger based on confidential information he learned by eavesdropping on the phone conversations of his then-fiancé, who was an investment […]

Orange County Investment Adviser Charged With Defrauding Clients

(HedgeCo.Net) A Laguna Niguel, California investment adviser has been charged with misappropriating client funds and misleading his clients about how their money was invested and how their investments were performing. The SEC is seeking an asset freeze and the appointment […]

Two Advisory Firms, CEO Charged With Mutual Fund Share Class Disclosure Violations

(HedgeCo.Net) Two New York-based investment advisers will collectively pay more than $1.8 million, which will be returned to harmed investors. According to the SEC’s orders, American Portfolios Advisers Inc., PPS Advisors Inc., and PPS’s Chief Executive Officer and Chief Investment […]

SEC Charges Two Robo-Advisers With False Disclosures

(HedgeCo.Net) The Securities and Exchange Commission have instituted settled proceedings against two robo-advisers for making false statements about investment products and publishing misleading advertising. The proceedings are the SEC’s first enforcement actions against robo-advisers, which provide automated, software-based portfolio management […]