SEC Charges Two Companies and Their Principals with Misleading Investors

(HedgeCo.Net) The Securities and Exchange Commission today charged Thomas Powell and Stefan Toth, and their entities, Resolute Capital Partners LTD LLC and Homebound Resources LLC, with making material misrepresentations and omissions in connection with more than a dozen unregistered oil […]

SEC Charges Investment Advisor with Defrauding Clients

(HedgeCo.Net) The Securities and Exchange Commission has filed a litigated action charging Michael F. Shillin, a resident of Appleton, Wisconsin, with defrauding at least 100 investment advisory clients. According to the SEC’s complaint, Shillin, while acting as an investment adviser, […]

SEC Obtains Judgment Against Fund Manager and Bars Him from Appearing or Practicing Before the SEC

(HedgeCo.Net) The United States District Court for the Southern District of New York has entered a final judgment against defendant Daniel B. Kamensky, whom the SEC previously charged with abusing his position as co-chair of the unsecured creditors committee in […]

SEC Charges Crowdfunding Portal, Issuer, and Related Individuals for Fraudulent Offerings

HedgeCo.Net) The Securities and Exchange Commission has charged three individuals and one issuer with conducting a fraudulent scheme to sell nearly $2 million of unregistered securities through two crowdfunding offerings. The SEC also charged the registered funding portal and its […]

SEC Charges Former Pharmaceutical Global IT Manager in $8 Million Insider Trading Scheme

(HedgeCo.Net) The Securities and Exchange Commission has announced insider trading charges against Dayakar R. Mallu, of Orlando, Florida, who generated gains and avoided losses totaling over $8 million by trading in the securities of his former employer, Mylan N.V., ahead […]

SEC Charges New York Investment Adviser and Its Owner with Fraud

(HedgeCo.Net) The Securities and Exchange Commission has charged Raquel Moura Borges and her investment advisory firm, Global Access Investment Advisor, LLC, with fraud for misappropriating client assets. According to the SEC’s complaint, from 2013 to 2018, Borges, a Brazilian national, […]

SEC Charges App Annie and its Founder with Securities Fraud and $10 Million to Settle First Enforcement Action

(HedgeCo.Net) The Securities and Exchange Commission has announced that App Annie Inc., a leading alternative data provider for the mobile app industry, and its co-founder and former CEO and Chairman Bertrand Schmitt, have agreed to settle securities fraud charges for […]

Three Media Companies Charged with Illegal Offerings of Stock to Pay $539 Million in Settlement

(HedgeCo.Net) The Securities and Exchange Commission has charged New York City-based GTV Media Group Inc. and Saraca Media Group Inc., and Phoenix, Arizona-based Voice of Guo Media Inc., with conducting an illegal unregistered offering of GTV common stock. The SEC […]

Federal Court Orders Ohio Resident and Multi-Million Dollar Ponzi Scheme Fraudster Permanently Banned from Trading

(CFTC) The Commodity Futures Trading Commission has announced that Judge Michael R. Barrett, of the U.S. District Court for the Southern District of Ohio entered a Consent Order for Permanent Injunction and Other Equitable Relief against¬†Glen Galemmo¬†finding, among other things, […]

SEC Charges Issuers and CEO for $18 Million Illegal Securities Offering

(HedgeCo.Net) The Securities and Exchange Commission has charged Rivetz Corp., Rivetz International SEZC, and Steven K. Sprague, the President of Rivetz and CEO of Rivetz International, with conducting an illegal, unregistered offering of securities through an initial coin offering. According […]

SEC Obtains Emergency Relief, Charges Couple Who Operated $18 Million Ponzi Scheme

(HedgeCo.Net) The Securities and Exchange Commission has announced it filed an emergency action and obtained a temporary restraining order and an asset freeze to stop an alleged Ponzi scheme perpetrated by Shakopee, Minnesota residents Jason Dodd Bullard and Angela Romero-Bullard […]

The Kraft Heinz Company to Pay $62-Million for Allegedly Engaging in Years-Long Accounting Scheme

(HedgeCo.Net) The Securities and Exchange Commission has charged The Kraft Heinz Company with engaging in a long-running expense management scheme that resulted in the restatement of several years of financial reporting. The SEC also charged Kraft’s former Chief Operating Officer […]

Global Crypto Lending Platform and Top Executives Charged in Alleged $2 Billion Fraud

(HedgeCo.Net) The Securities and Exchange Commission has filed an action against BitConnect, an online crypto lending platform, its founder Satish Kumbhani, and its top U.S. promoter and his affiliated company, alleging that they defrauded retail investors out of $2 billion […]

SEC Obtains Emergency Relief, Charges Couple Who Operated $18 Million Ponzi scheme

(HedgeCo.Net) The Securities and Exchange Commission has filed an emergency action and obtained a temporary restraining order and an asset freeze to stop an alleged Ponzi scheme perpetrated by Shakopee, Minnesota residents Jason Dodd Bullard and Angela Romero-Bullard and the […]

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