Category Archives: HedgeCo News
SEC Stops Fraudulent ICO That Falsely Claimed SEC Approval
(HedgeCo.Net) The Securities and Exchange Commission today announced that it has obtained an emergency court order halting a planned initial coin offering (ICO), which backers falsely claimed was approved by the SEC. The order also halts ongoing pre-ICO sales by […]
SEC Monitoring Impact of Hurricane Michael on Capital Markets
HedgeCo.Net) The SEC is preparing to provide support for market participants as Hurricane Michael approaches the Gulf,” said SEC Chairman Jay Clayton. “While we assess the need to extend deadlines for filings and other regulatory requirements, work to help ensure […]
$25 Million Final Judgment Against Perpetrator of Offering Fraud That Targeted Retail Investors
(HedgeCo.Net) (HedgeCo.Net) A federal district court in Washington, DC has entered a final judgment against Lawrence P. Schmidt in a case the Securities and Exchange Commission brought against Schmidt and several entities he controlled for defrauding investors in connection with […]
SEC Obtains Final Judgment in Forex-Based Offering Fraud Case
(HedgeCo.Net) The Securities and Exchange Commission has announced that, it has obtained a final judgment in its civil action against Steve H. Karroum and his Virginia-based company, FX & Beyond Corporation. On February 16, 2017, the SEC filed a complaint […]
Court Enters Judgment Against Defendant in SEC Insider Trading Case
(HedgeCo.Net) The Federal district court in Connecticut has entered a final judgment against Katherine Hanratty, a resident of Watertown, Connecticut, to settle allegations that she was engaged in insider trading in the stock of a New Jersey-based payment processing company. […]
Atlanta-Based Individual and His Company Charged With Defrauding Investors In Scams
(HedgeCo.Net) Russell Craig and his company, OneStep Financial Services, LLC has been charged with violating the anti-fraud provisions of the federal securities laws by promising investors profits in return for depositing funds into escrow for the purchase or development of […]
Court Enters $64 Million Judgment Against Investment Professional
(HedgeCo.Net) A federal district court in Connecticut has ordered a Greenwich, Connecticut investment professional charged by the Securities and Exchange Commission with fraudulently diverting tens of millions of dollars from the venture capital funds he advised, to pay over $64 […]
Credit Suisse Agrees to Pay $10 Million to Settle Charges Related to Handling of Retail Customer Orders
(HedgeCo.Net) The Securities and Exchange Commission has announced that Credit Suisse Securities (USA) LLC has agreed to settle charges brought by the SEC and the Office of the New York Attorney General regarding material misrepresentations and omissions made in connection […]
$165 Million Alleged Fraud Scheme Targeting 50 Microcap Companies Shut Down
(HedgeCo.Net) The Securities and Exchange Commission has filed an emergency action and obtained an asset freeze against two individuals and their companies in a scheme that generated more than $165 million of illegal sales of stock in at least 50 […]
Brokerage Firm to Exit Penny Stock Deposit Business and Pay Penalty for Repeatedly Failing to Report Suspicious Trading
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against clearing firm COR Clearing LLC for failing to report suspicious sales of penny stock shares totaling millions of dollars. As part of the settlement, COR has agreed to exit a […]
Elon Musk & Tesla Agree To $40 Million In Penalties that Requires Tesla Chairman to Step Down
(HedgeCo.Net) The Securities and Exchange Commission has announced that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla, Inc., has agreed to settle the securities fraud charge brought by the SEC against him last week. The SEC also today charged […]
SG Americas Securities Charged for Improper Handling of ADRs
(HedgeCo.Net) The Securities and Exchange Commission today announced that SG Americas Securities LLC will pay more than $800,000 to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs), predominantly by its predecessor entity. In its order against SG […]