Category Archives: HedgeCo News
SEC Charges Investment Adviser For Fraudulent “Cherry-Picking” Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Donald J. Kellen, an investment adviser representative based in Palos Verdes Estates, California, for conducting a multi-year cherry-picking scheme that defrauded his clients. According to the SEC’s complaint, from about […]
SEC Awards Over $18 Million to Whistleblower
(HedgeCo.Net) The Securities and Exchange Commission today announced an award of more than $18 million to a whistleblower whose significant information prompted an examination that resulted in an important enforcement action. The whistleblower repeatedly reported the problem internally before contacting […]
SEC Charges Investment Adviser for Conducting Fraudulent “Cherry-Picking” Scheme
(HedgeCo.Net) The Securities and Exchange Commission today announced charges against Donald J. Kellen, an investment adviser representative based in Palos Verdes Estates, California, for conducting a multi-year cherry-picking scheme that defrauded his clients. According to the SEC’s complaint, from about […]
SEC Charges Company and CEO for COVID-19 Scam
(HedgeCo.Net) The Securities and Exchange Commission today announced charges against Praxsyn Corp. and its CEO for allegedly issuing false and misleading press releases claiming the company was able to acquire and supply large quantities of N95 or similar masks to […]
Former Executives and Investment Group Settle Fraud Action
(HedgeCo.Net) The U.S. District Court for the District of Oregon has entered final judgments on consent against an Oregon-based investment group and its three top executives for defrauding investors out of hundreds of millions of dollars. The SEC has also […]
Federal Court Orders Defendants to Pay Over $1.7 Million to Settle CFTC Enforcement Action Charging Fraud and False Statements
(HedgeCo.Net) The Commodity Futures Trading Commission has announced that the U.S. District Court for the Southern District of New York entered a consent order of permanent injunction against defendants Simon Jousef of Ontario, Canada and his business, FuturesFX, imposing more […]
SEC Settles Securities Fraud Charges Against Former Investment Adviser
(HedgeCO.Net)The Securities and Exchange Commission has announced that defendant Barry R. Bekkedam has agreed to resolve the SEC’s charges that he fraudulently induced, or assisted others in inducing, his advisory clients and others to invest approximately $100 million in an […]
SEC Charges Central Florida Resident for Fraud Targeting Retail Investors
(HedgeCo.Net) The Securities and Exchange Commission today announced charges against Lithia, Florida resident Steven L. Brickner, for allegedly defrauding more than 60 retail investors out of approximately $5.5 million through purported investments in marijuana-related companies Brickner controlled. The SEC alleges […]
SEC Issues $5 Million Whistleblower Award
(HedgeCo.Net) The Securities and Exchange Commission today announced a $5 million award to a whistleblower who provided significant information that led to a successful enforcement action. The whistleblower provided critical evidence of wrongdoing, which helped save time and resources in […]
SEC Orders Three Self-Reporting Advisory Firms to Reimburse Investors
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against two advisers that self-reported as part of the Division of Enforcement’s Share Class Selection Disclosure Initiative, and a third adviser that self-reported within months of the initiative’s self-reporting deadline. The […]
SEC Awards Over $27 Million to Whistleblower
(HedgeCo.Net) The Securities and Exchange Commission today announced an award of more than $27 million to a whistleblower who alerted the agency to misconduct occurring, in part, overseas. After providing the tip to the Commission, the whistleblower provided critical investigative […]
Former Investment Adviser Settles Fraud Action
(HedgeCo.Net) The U.S. District Court for the Southern District of New York entered a final consent judgment against International Investment Group, LLC (IIG), a former registered investment adviser, which the Securities and Exchange Commission had charged with securities fraud for […]