Category Archives: HedgeCo News
SEC Charges Ripple and Two Executives with Conducting $1.3 Billion Unregistered Securities Offering
(HedgeCo.Net) The Securities and Exchange Commission has announced that it has filed an action against Ripple Labs Inc. and two of its executives, who are also significant security holders, alleging that they raised over $1.3 billion through an unregistered, ongoing digital […]
SEC Charges Company and CEO for $119 Million Securities Fraud Targeting Members of the South Asian American Community
(HedgeCo.Net) The Securities and Exchange Commission today announced that it filed an emergency action against California-based real estate development company SiliconSage Builders LLC, aka Silicon Sage Builders, and its sole owner, Sanjeev Acharya, in connection with an alleged $119 million fraudulent […]
SEC Charges Biotech Company and CEO With Fraud Concerning COVID-19 Blood Testing Device
(HedgeCo.Net) The Securities and Exchange Commission today announced charges against California-based biotechnology company Decision Diagnostics Corp. and its CEO, Keith Berman, with making false and misleading claims in numerous press releases that the company had developed a working, break-through technology […]
Federal Court Orders Interdealer Broker to Pay $7 Million for Deceptive Trading Practices in the FX Options Markets
(HedgeCo.Net) The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of New York entered a consent order against defendants TFS-ICAP LLC and TFS-ICAP Ltd., interdealer brokers located in New York and London, requiring them […]
SEC Charges Tennessee Investment Adviser, Representatives for Failing to Disclose Conflicts
(HedgeCo.Net) The Securities and Exchange Commission has charged Franklin, Tennessee-based registered investment adviser CapWealth Advisors, LLC, its principal, Timothy J. Pagliara, and an advisory representative, Timothy R. Murphy, in connection with their mutual fund share class selection practices. The SEC’s […]
SEC Charges Sequential Brands Group Inc. with Deceiving Investors by Failing to Timely Impair Goodwill
(HedgeCo.Net) The Securities and Exchange Commission has charged New York-based brand-management company Sequential Brands Group Inc. with failing to impair its goodwill as required by accounting principles and the federal securities laws. The SEC’s complaint alleges that Sequential failed to properly […]
Five Defendants in a Microcap Fraud Scheme Attempting to Capitalize On the Covid-19 Pandemic Ordered to Pay Over $12 Million
(HedgeCo.Net) The U.S. District Court for the District of Massachusetts entered final judgments against FFS Capital Limited, Paifang Trading Limited, Artefactor Limited, Meadow Asia Limited, and Thyme International Limited. Among other things, the judgments order these entities to pay a […]
General Electric Agrees to Pay $200 Million Penalty for Disclosure Violations
(HedgeCo.Net) The Securities and Exchange Commission today announced that General Electric Co. (GE) has agreed to pay a $200 million penalty to settle charges for disclosure failures in its power and insurance businesses. In 2017 and 2018, GE’s stock price […]
BlueCrest to Pay $170 Million to Harmed Fund Investors
(HedgeCo.Net) The Securities and Exchange Commission has announced that UK-based investment adviser BlueCrest Capital Management Limited has agreed to pay $170 million to settle charges arising from inadequate disclosures, material misstatements, and misleading omissions concerning its transfer of top traders […]
SEC Issues Multiple Whistleblower Awards Totaling Nearly $3 Million
(HedgeCo.Net) The Securities and Exchange Commission today announced whistleblower awards to five individuals for information provided in three different enforcement actions for combined payments of nearly $3 million. In the first order, the SEC awarded the whistleblower nearly $1.8 million. The whistleblower, […]
Unregistered Investment Adviser Charged With Defrauding Puerto Rico Municipality
(HedgeCo.Net) The Securities and Exchange Commission has charged an unregistered investment adviser based in Orlando, Florida for defrauding the Municipality of Mayagüez, Puerto Rico and misappropriating $7.1 million of taxpayer funds. According to the SEC’s complaint, in 2016, Eugenio Garcia […]
Disbarred New York Attorney and Florida Attorney Charged with Scheme to Create False Opinion Letters
(HedgeCo.Net) The Securities and Exchange Commission has charged disbarred attorney, Richard J. Rubin, and licensed attorney, Thomas J. Craft, with fraud for their roles in a legal opinion letter scheme to fraudulently facilitate the sale of millions of shares of […]