SEC Charges Swiss Trader in Two International Insider Trading Schemes

(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against Marc Demane Debih, a Swiss national, who generated at least $49 million in illicit profits in connection with his active participation in two multi-year insider trading schemes. The […]

SEC Obtains Final Judgment Against Trader in International Insider Trading Scheme

(HedgeCo.Net) The United States District Court for the Southern District of New York has entered a final consent judgment against Israeli citizen Dov Malnik in connection with his participation in a prolific insider trading scheme. To settle the charges against […]

SEC Charges Promoter with Conducting Cryptocurrency Investment Scams

(HedgeCo.Net) The Securities and Exchange Commission has announced that it charged Ryan Ginster of Corona, California with conducting two unregistered and fraudulent securities offerings that raised over $3.6 million in cryptocurrency from retail investors. The SEC’s complaint alleges that, from […]

SEC Issues Whistleblower Awards Totaling Approximately $10.4 Million

(HedgeCo.Net) The Securities and Exchange Commission has announced awards totaling approximately $10.4 million to several whistleblowers who provided information and assistance in three separate covered actions. In the first order, the SEC issued awards totaling approximately $7.5 million to two […]

McKinsey Affiliate to Pay $18 Million for Compliance Failures in Handling of Nonpublic Information

(HedgeCo.Net) The Securities and Exchange Commission has announced that an affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees has agreed to pay an $18 million penalty for compliance failures. The […]

SEC Proposes Updates to Electronic Recordkeeping Requirements

(HedgeCo.Net) The Securities and Exchange Commission has just published proposed amendments to the electronic recordkeeping and prompt production of records requirements applicable to broker-dealers, security-based swap dealers (SBSDs), and major security-based swap participants (MSBSPs). “This proposal updates an electronic recordkeeping […]

SEC Charges Additional Investment Adviser in Cherry Picking Scheme

(HedgeCo.Net) The Securities and Exchange Commission filed charges against Lina Maria Garcia of Miami-based UCB Financial Advisers, Inc. for her role in a multi-year “cherry picking” scheme in which millions of dollars were allegedly channeled to the accounts of preferred […]

New York Fund Manager and His Company Charged with Securities Fraud

(HedgeCo.Net) The Securities and Exchange Commission charged Joshua Burrell and his firm, Activated Capital, LLC, with securities fraud in connection with Opportunity Zone investments. The SEC’s complaint alleges that from at least February 2019 through February 2021, Burrell, through Activated, […]

Court Orders Asset Freeze Against Recidivist and Barred Investment Adviser and His Firm

(HedgeCo.Net) The Securities and Exchange Commission has obtained an asset freeze and other preliminary injunctive relief against Swapnil J. Rege and his company SwapStar Capital, LLC. The preliminary injunction and order freezing assets restrains defendants Rege and SwapStar from violating […]

SEC Charges Partner at Global Consulting Firm With Insider Trading

(HedgeCo.Net) The Securities and Exchange Commission has charged Puneet Dikshit, a partner at a global management consulting firm, with illegally trading in advance of a corporate acquisition by one of the firm’s clients in September. The SEC’s complaint, filed in […]

SEC Wins Jury Trial: Hedge Fund Adviser Liable for Securities Fraud

(HedgeCo.Net) Jurors in Boston federal court returned have returned a verdict in the Securities Exchange Commission’s favor against a hedge fund adviser and his investment advisory firm. Gregory Lemelson and Massachusetts-based Lemelson Capital Management LLC were charged with fraud in […]

SEC Charges Exchange-Traded Product and Its General Partner With Disclosure Failures

(HedgeCo.Net) The Securities and Exchange Commission has charged United States Oil Fund LP, an exchange-traded product (ETP), and its general partner United States Commodity Funds LLC for misleading statements about limitations imposed by its sole futures commission merchant and broker. […]

Hedge Fund Adviser Found Liable for Securities Fraud

(HedgeCo.Net) Jurors in Boston federal court have returned a verdict in the Securities Exchange Commission’s favor against a hedge fund adviser and his investment advisory firm.  Gregory Lemelson and Massachusetts-based Lemelson Capital Management LLC were charged with fraud in September […]

SEC Obtains Emergency Relief in Case Charging Claims Aggregator and Principals with Multi-Million Dollar Fraud

(HedgeCo.Net) The Securities and Exchange Commission has charged a New Jersey “claims aggregator” – a firm that submits claims on behalf of its clients to administrators tasked with returning settlement funds to harmed investors – and its three principals with […]

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