SEC Obtains Final Judgment Against Promoter Charged in a Fraudulent Pyramid Scheme.

(HedgeCo.Net) The U.S. District Court for the Eastern District of New York has entered a final judgment against defendant Heidi Mao in a previously filed civil action that charged Mao with promoting investments in a fraudulent pyramid scheme. The SEC’s […]

Former Financial Advisor Charged with Stealing $5.8 Million from Client

(HedgeCo.Net) The Securities and Exchange Commission has charged German Nino, a former securities broker and investment adviser representative for UBS Financial Services Inc., with stealing $5.8 million from a long-standing client. The SEC’s complaint alleges that Nino, of Weston, Florida, […]

Colorado Man Charged with Fraud Related to Cryptocurrency Venture

(HedgeCo.Net) The Securities and Exchange Commission today charged Paul A. Garcia of Severance, Colorado, for allegedly defrauding investors by stealing approximately one quarter of investor funds raised for Gold Hawgs Development Corp. (“Gold Hawgs”), a failed cryptocurrency venture. According to […]

SEC Wins Judgment in $2.2m Prime Bank Investment Scheme

(HedgeCo.Net) A federal court entered a final judgment against Peter Baker of Lawrenceville, Georgia, Elizabeth Oharriz of Miami Shores, Florida, and their companies for orchestrating a prime bank investment scheme and stealing over $2.2 million from investors. According to the […]

SEC Charges Colorado Man with Fraud Related to Cryptocurrency Venture

(HedgeCo.Net) The Securities and Exchange Commission has charged Paul A. Garcia of Severance, Colorado, for allegedly defrauding investors by stealing approximately one quarter of investor funds raised for Gold Hawgs Development Corp. (“Gold Hawgs”), a failed cryptocurrency venture. According to […]

SEC Charges South Florida Man with Fraudulent Operation of Private Fund

(HedgeCo.Net) Judge Donald M. Middlebrooks of the United States District Court for the Southern District of Florida has entered a judgment permanently enjoining Florida resident Anthony M. Cottone from violations of the antifraud and other provisions of the federal securities […]

SEC Charges ICO Issuer and Founder with Defrauding Investors

(HedgeCo.Net) The Securities and Exchange Commission yesterday announced charges against Australian citizen Craig Sproule and two companies he founded, Crowd Machine, Inc. and Metavine, Inc., for making materially false and misleading statements in connection with an unregistered offer and sale […]

SEC Obtains Judgment Against Investment Adviser Charged with Defrauding Clients

(HedgeCo.Net) The United States District Court for the Western District of Wisconsin has entered a partial judgment against defendant Michael F. Shillin in a previously filed civil action that charged Shillin with defrauding at least 100 advisory clients. According to […]

SEC Charges Additional Defendant in Phony Certificates of Deposit Scam

(HedgeCo.Net) The Securities and Exchange Commission has charged Allen C. Giltman, a former registered investment professional, with allegedly participating in a long-running fraudulent scheme to lure investors into buying fictitious certificates of deposit (CDs). The scheme resulted in victims, primarily […]

SEC Charges Three Florida Residents in Multi-Million Dollar Insider Trading Scheme

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against three Florida residents for trading in advance of market moving announcements involving DSW Inc., Rite Aid Corporation, and an attempt to acquire Aphria Inc., a Canadian cannabis-related business. According to […]

SEC Charges ICO Issuer and Founder with Defrauding Investors

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Australian citizen Craig Sproule and two companies he founded, Crowd Machine, Inc. and Metavine, Inc., for making materially false and misleading statements in connection with an unregistered offer and sale […]

SEC Charges Charlotte, North Carolina Investment Adviser and Its President for Not Providing Records to Examiners

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Bóveda Asset Management, Inc. and its President and sole owner, George Kenneth Witherspoon, Jr. of Charlotte, North Carolina, for failing to provide required books and records during a Commission examination […]

SEC Obtains Final Judgments Against Crowdfunding Issuer CEO and Registered Funding Portal and Its CEO

(Hedgeco.Net) The Securities and Exchange Commission has announced the final judgments against Nicole Birch, former CEO of crowdfunding issuer, Transatlantic Real Estate, LLC, SEC-registered crowdfunding portal, TruCrowd, Inc., and its CEO, Vincent Petrescu. The SEC’s complaint, filed on September 20, […]

Financial Company and Its President Charged with Engaging in Fraudulent Schemes to Boost Stock Price

(HedgeCo.Net) The Securities and Exchange Commission has charged Medallion Financial Corp., a Delaware company headquartered in New York, NY, and its President and Chief Operating Officer, Andrew Murstein of New York, NY, with illegally engaging in two schemes in an […]

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