Category Archives: HedgeCo News
SEC Awards $4.5 Million to Whistleblower
(HedgeCo.Net) The Securities and Exchange Commission has awarded more than $4.5 million to a whistleblower whose tip triggered the company to review the allegations as part of an internal investigation and subsequently report the whistleblower’s allegations to the SEC and […]
SEC Sues Alleged Perpetrator of Fraudulent Pyramid Scheme Promising Investors Cryptocurrency Riches
(Hedgeco.Net) The Securities and Exchange Commission filed a civil injunctive action against Daniel Pacheco, a resident of San Clemente, California, and the alleged perpetrator of a multimillion-dollar pyramid scheme. The SEC’s complaint, filed Wednesday, alleges that from January 2017 through […]
Additional Charges Filed In Insider Trading Scheme Involving NFL Player and Former Investment Banker
(HedgeCo.Net) The Securities and Exchange Commission has charged Mark “Christian” Ramsey for participating in an insider trading scheme perpetrated by a professional football player and former investment banker previously charged by the SEC for insider trading. In August 2018, the […]
SEC Charges Unregistered Broker Who Sold Woodbridge Securities to Retail Investors
(HedgeCo.Net) The Securities and Exchange Commission charged Charles Nilosek, a Massachusetts-based external sales agent for Woodbridge Group of Companies LLC, with illegally selling Woodbridge securities to retail investors while acting as an unregistered broker. According to the complaint, Nilosek was […]
SEC Charges Four Individuals in a Microcap Fraud
(HedgeCo.Net) Ishmail Calvin Ross of Canoga Park, California according to an SEC complaint, secured – but hid – control of Green Cures behind a figurehead CEO and a front company created by Ross and Jessica Snyder of Avondale, Arizona. At […]
Five Individuals Charged with Running a Pump-and-Dump Scheme
(HedgeCo.Net) The U.S. Securities and Exchange Commission filed settled charges against five individuals for orchestrating a fraudulent pump-and-dump scheme involving multiple penny stocks. The SEC alleges that between May 2011 and May 2017, Andrew I. Farmer of Katy, Texas, Scott […]
SEC Freezes Assets of Online Auction Portal and Its CEO Associated with $23 Million
The Securities and Exchange Commission has filed fraud charges against Collectors Café, an online auction portal, and its chief executive officer, Mykalai Kontilai, for misappropriating over $6 million of investor funds in a $23 million offering fraud. The SEC obtained […]
Jury Finds Brokerage Firm and Two of Its Executives Liable for Fraud
(HedgeCo.Net) Jurors in Manhattan federal court have returned a verdict in the Securities and Exchange Commission’s favor against a brokerage firm and two of its executives. The SEC charged the brokerage firm, Portfolio Advisors Alliance Inc. (PAA), Howard J. Allen, […]
SEC Proposes Actions to Improve Cross-Border Application of Security-Based Swap Requirements
(HedgeCo.Net) The Securities and Exchange Commission is proposing a new package of rule amendments and interpretive guidance to improve the framework for regulating cross-border security-based swaps transactions and market participants. The proposals are intended to improve the regulatory framework by […]
Court Orders Robert M. Morano to Pay Insider Trading Penalty
(HedgeCo.Net) The U.S. District Court for the District of Oregon entered a final judgment against Robert M. Morano ordering him to pay a $75,000 insider trading penalty, which represents approximately two times the amount of Morano’s illegal trading profits. The […]
Final Judgment Entered Against Former Broker for Defrauding Customers
(HedgeCo.Net) A federal district court entered a final consent judgment against a broker who was charged with defrauding customers by making unsuitable and unauthorized trades and churning customers’ accounts, which enriched the broker at the customers’ expense. The SEC’s complaint, […]
Two Internal Auditors Charged with Repeated Insider Trading
(HedgeCo.Net) insider trading charges were filed against two internal auditors who repeatedly traded and tipped on confidential information that they obtained through their respective employers. The SEC’s complaint, filed in the U.S. District Court for the Western District of Tennessee, […]