Category Archives: HedgeCo News
Federal Court Orders Pennsylvania Man and His Companies to Pay More Than $1.2 Million in Forex Trading Scheme
(HedgeCo.Net) The Commodity Futures Trading Commission today announced that the U.S. District Court for the Eastern District of Pennsylvania entered an order of default judgment finding that Michael Salerno of Chadds Ford, Pennsylvania, and his companies Black Diamond Forex LP, […]
CFTC Revokes Registrations of Florida Company and its CEO for Fraud and Related Criminal Conviction
(HedgeCo.Net) The Commodity Futures Trading Commission has announced it has revoked the Commodity Pool Operator and Commodity Trading Advisor registrations of Phy Capital Investments LLC of Miami, Florida and the Associated Person registration of its owner Fabio Bretas de Freitas, […]
SEC Charges Seismic Data Company, Former Executives With $100 Million Accounting Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Houston-based seismic data company, SAExploration Holdings Inc. (SAE), and four former executives for a multi-year accounting fraud that falsely inflated the company’s revenue by approximately $100 million and concealed the theft of […]
CFTC Posts Record-Breaking Enforcement Year
Filed More Enforcement Actions Than Any Other Year In Agency’s 45-Year History (HedgeCo.Net) The Commodity Futures Trading Commission today announced a record-breaking year in the agency’s Division of Enforcement. In particular, during Fiscal Year 2020, which closed on September 30, […]
John McAfee Charged With Fraudulently Touting ICOs
(HedgeCo.Net) The Securities and Exchange Commission today charged businessman and computer programmer John McAfee for promoting investments in initial coin offerings (ICOs) to his Twitter followers without disclosing that he was paid to do so. McAfee’s bodyguard, Jimmy Watson, Jr., […]
HP Agrees to Pay $6-Million to Settle Disclosure Violations and Control Failure
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against technology company HP Inc. for misleading investors by failing to disclose the impact of sales practices undertaken in an effort to meet quarterly sales and earnings targets. HP has agreed to […]
CFTC Orders Chicago Broker to Pay Over $495,000 for Supervision Failures and Failure to Report Suspicious Activity
(HedgeCo.Net) The Commodity Futures Trading Commission today issued an order filing and simultaneously settling charges against A&A Trading, Inc., a registered introducing broker located in Chicago, Illinois, for failing to file a suspicious activity report (SAR) and to diligently supervise […]
Purported Hedge Fund Manager Charged with Fraud
(HedgeCo.Net) The Securities and Exchange Commission today charged a Long Island, New York man and his wholly-owned company with defrauding investors by falsely claiming to manage a successful hedge fund. According to the SEC’s complaint, since at least 2015, Rand […]
Morgan Stanley Agrees to Pay $5 Million for Reg SHO Violations in Prime Brokerage Swaps Business
(HedgeCo.Net) The Securities and Exchange Commission has announced it has settled charges against Morgan Stanley & Co. LLC for violations of Regulation SHO, the regulatory framework governing short sales. According to the SEC’s order, the structure of Morgan Stanley’s prime […]
Ratings Agency Charged With Internal Controls Failures in Connection With Ratings of CMBS and CLO Combo Notes
(Opalesque) The Securities and Exchange Commission today announced that the credit ratings agency Kroll Bond Rating Agency Inc. (KBRA) has agreed to pay more than $2 million to settle separate charges relating to the rating of commercial mortgage-backed securities (CMBS) […]
Amazon Finance Manager and Family Allegedly made $1.4 Million With Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has charged a former finance manager at Amazon.com Inc. and two family members with insider trading in advance of Amazon earnings announcements between January 2016 and July 2018. According to the SEC’s complaint, Laksha Bohra […]
Top Executive of California Microcap Company Charged for Misleading Claims Concerning COVID-19 Test and Financial Statements
(HedgeCo.Net) The Securities and Exchange Commission today charged Mark Schena, the President and Chief Science Officer of Arrayit Corporation, for making allegedly false and misleading statements concerning Arrayit’s development of a COVID-19 blood test and its intention to resolve its […]