(Hedgeweek) Hedge fund Modulo has agreed to repay 97% of the money that companies from Sam Bankman-Fried’s bankrupt FTX cryptocurrency empire paid to it during 2022, according to a report by Reuters, citing court documents filed on Wednesday. To read […]
Financial Adviser Charged for Misappropriating More Than $1 Million From Current, Former NBA Players
(HedgeCo.Net) The Securities and Exchange Commission has charged Darryl Matthew Cohen, a former investment adviser at a large financial institution, with misappropriating more than $1 million from three current and former NBA players over a period of two and a […]
SEC Obtains Final Judgment Against Former CFO Charged with Fraud and Lying to Auditors
(HedgeCo.Net) The U.S. District Court for the District of Maryland entered a final consent judgment against Philip R. Jacoby, a former Chief Financial Officer of biotech company Osiris Therapeutics, Inc., for his role in Osiris’s fraudulent conduct. The SEC’s complaint, […]
SEC Obtains Judgments and Bar Against Former Ozy Media Executives Charged in $50 Million Dollar Fraud
(HedgeCo.Net) The U.S. District Court for the Eastern District of New York has entered judgments by consent against the former COO of Ozy Media, Inc., Samir Rao, and its former Chief of Staff, Suzee Han, for their roles in defrauding […]
SEC Charges Investment Adviser with Defrauding Clients in Connection with Annuity Sales
(HedgeCo.Net) The SEC has announced charges against Massachusetts-based investment adviser Jeffrey Cutter and his advisory firm, Cutter Financial Group LLC (“CFG”), for recommending that their advisory clients invest in insurance products that paid Cutter a substantial up-front commission without adequately […]
SEC Charges Exiled Chinese Businessman Miles Guo and His Financial Advisor William Je in $850 Million Fraud Scheme
(Hedgeco.Net) The Securities and Exchange Commission has charged exiled Chinese businessman Miles Guo and his financial advisor William Je for their involvement in unregistered and fraudulent offerings that raised more than $850 million. According to the SEC’s complaint, since April […]
Court Issues Amended Final Judgment Against Penny Stock “Mailman” and His Two Companies
(HedgeCo.Net) The U.S. District Court for the Northern District of Alabama has issued an amended final judgment against Florida resident Brian Robert Sodi and two of his now-defunct companies, Capital Financial Media LLC (CFM) and List Data Solutions LLC (LDS), […]
SEC Obtains Judgment Against Individual in Multi-Million Dollar Securities Offering Fraud
(HedgeCo.Net) The United States District Court for the District of Massachusetts has entered a final judgment against Joshua Dax Cabrera ordering him to pay approximately $1,126,000 in disgorgement, prejudgment interest, and penalties in a securities offering fraud previously filed by […]
Software Company Blackbaud Inc. Charged for Misleading Disclosures About Ransomware Attack That Impacted Charitable Donors
(HedgeCo.Net) The Securities and Exchange Commission has announced that Blackbaud Inc., a South Carolina-based public company that provides donor data management software to non-profit organizations, agreed to pay $3 million to settle charges for making misleading disclosures about a 2020 […]
SEC Sues Crypto Asset Company, Its Founder, and a Recidivist Salesperson for Fraud
(HedgeCo.Net) The Securities and Exchange Commission charged Utah-based company Green United, LLC, its founder Wright W. Thurston, and one of its promoters, Kristoffer A. Krohn, with allegedly defrauding investors in connection with an unregistered offering of crypto asset securities. According […]
SEC Charges Rio Tinto plc with Bribery Controls Failures
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against global mining and metals company, Rio Tinto plc, for violations of the Foreign Corrupt Practices Act (FCPA) arising out of a bribery scheme involving a consultant in Guinea. The company […]
Emergency Action Filed Against Miami Investment Adviser BKCoin and Principal for Alleged $100 Million Crypto Fraud Scheme
(Hedgeco.Net) The Securities and Exchange Commission has announced that it filed an emergency action in which it successfully obtained an asset freeze, appointment of a receiver, and other emergency relief against Miami-based investment adviser BKCoin Management LLC and one of […]
Silver Edge Financial and Equity Acquisition Company Charged With Unregistered Broker-Dealer Activity
(HedgeCo.Net) The Securities and Exchange Commission has charged Silver Edge Financial LLC, Equity Acquisition Company Ltd. (EAC), the owners of both companies, and sales staff of Silver Edge Financial with unregistered broker-dealer activity relating to their sales of interests in […]
Nishad Singh Charged with Defrauding Investors in Crypto Asset Trading Platform FTX
(HedgeCo.Net) The Securities and Exchange Commission has charged Nishad Singh, the former Co-Lead Engineer of FTX Trading Ltd. (FTX), for his role in a multiyear scheme to defraud equity investors in FTX, the crypto trading platform started by Singh along […]
Texas Stockbroker charged for Stealing Funds from Elderly Customers
(Hedgeco.Net) The Securities and Exchange Commission has announced the filing of a civil injunctive action against Bradley Morgan Holts of Beaumont, Texas, for allegedly misappropriating customer funds. The SEC’s complaint alleges that Holts, while a registered representative associated with a […]
