Category Archives: HedgeCo News
SEC Bars Hedge Fund Manager Charged with Asset Mismarking and Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has obtained a final judgment against a hedge fund manager the agency charged with falsely inflating assets in portfolios he managed. The SEC also barred him from the securities industry. According to the SEC’s […]
Principal of Binary Options Trading Firm Ordered to Pay $200K for Illegal Off-Exchange Trading
(HedgeCo.Net) U.S. Commodity Futures Trading Commission has issued an order filing and settling charges against Curtis Dalton of Middleton, Massachusetts, requiring him to pay $200,000 for offering illegal off-exchange retail commodity transactions to U.S. and overseas customers while failing to […]
Utah Man Charged With Defrauding Investors in a Ponzi Scheme
(HedgeCo.Net) According to a complaint filed by the SEC, from at least December 2016 through April 2018, Landon M. Smith of Salt Lake City allegedly operated a fraudulent scheme that raised nearly $2.5 million from over fifty investors. To entice […]
Two Former Traders Admit To Engaging in Spoofing and Manipulation at New York Banks
(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has issued two orders filing and settling charges against former traders at separate financial institutions who entered into formal cooperation agreements with the CFTC’s Division of Enforcement (Division) and admitted to spoofing and […]
SEC Awards Half-Million Dollars to Overseas Whistleblower
(HedgeCo.Net) The Securities and Exchange Commission has announced a half-million dollar award to an overseas whistleblower whose expeditious reporting helped the Commission bring a successful enforcement action. “The Commission’s whistleblower award program has reached an important milestone,” said Jane Norberg, […]
Facebook to Pay $100 Million for Misleading Investors About the Risks It Faced From Misuse of User Data
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Facebook Inc. for making misleading disclosures regarding the risk of misuse of Facebook user data. For more than two years, Facebook’s public disclosures presented the risk of misuse of user […]
SEC Charges Engine Manufacturing Company Executives With Accounting Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged the former chief executive officer of a Chicago-area engine manufacturing company and two former senior sales executives for their roles in an accounting fraud that allegedly overstated the publicly-traded company’s revenues by […]
Former Hedge Fund Portfolio Manager to Pay More than $700,000 for Fraudulently Mismarking Swaps
(HedgeCo.Net) The Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Swapnil Rege, a former portfolio manager for a Connecticut-based hedge fund registered with the CFTC as a commodity pool operator (CPO), for fraudulently mismarking […]
Defendant to Pay More Than $2.9 Million in Connection with a Social Media-Based Forex Fraud Scheme
(HedgeCo.Net) The Court’s order requires Ramirez to pay $735,983.48 in restitution to defrauded clients and a civil monetary penalty of more than $2.2 million. Additionally, the defendant is now permanently enjoined from engaging in conduct that violates the Commodity Exchange […]
Portfolio Manager Charged with Mispricing Fund Investments
(HedgeCo.Net) The Securities and Exchange Commission today announced settled administrative proceedings against Swapnil Rege, a North Brunswick, New Jersey portfolio manager and trader, for mispricing private fund investments, resulting in a large personal bonus. According to the SEC’s order, from […]
Securities Lawyer and Microcap Agent Charged with Fraud
(HedgeCo.Net) An Arizona-based attorney and a Missouri-based agent of microcap shell companies has been charged with securities fraud and registration violations. According to the SEC’s complaint, from February 2015 to April 2017, attorney William Scott Lawler engaged in schemes to […]
Former REIT Manager and Executives to Settle SEC Charges for more than $60 Million
(HedgeCo.Net) AR Capital LLC, its founder Nicholas S. Schorsch, and its former CFO Brian Block have been charged with wrongfully obtaining millions of dollars in connection with two separate mergers between real estate investment trusts (REITs) that were sponsored and […]