Category Archives: HedgeCo News
Volkswagen, Former CEO Charged With Defrauding Bond Investors During “Clean Diesel” Emissions Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Volkswagen AG, two of its subsidiaries, and its former CEO, Martin Winterkorn, for defrauding U.S. investors, raising billions of dollars through the corporate bond and fixed income markets while making a series […]
Wedbush Securities Pays $250K To Settle Failure to Supervise Charge
(HedgeCo.Net) The Securities and Exchange Commission announced today that Wedbush Securities Inc. will pay a $250,000 penalty and has agreed to be censured to settle its failure to supervise charge in a pending administrative proceeding. According to the SEC’s Wedbush […]
Lumber Liquidators Charged With Making Fraudulent Misstatements To Investors
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Lumber Liquidators Holdings Inc. for making fraudulent misstatements to investors. The charges stem from Lumber Liquidators’ false public statements in response to media allegations that the company was selling laminate […]
Charges Settled Against 79 Investment Advisers…More Than $125 Million Returned To Clients
(HedgeCo.Net) The Securities and Exchange Commission today announced settled charges against 79 investment advisers who will return more than $125 million to clients, with a substantial majority of the funds going to retail investors. The actions stem from the SEC’s […]
Mobile TeleSystems Settles FCPA Violations
(HedgeCo.Net) Russian telecommunications provider Mobile TeleSystems PJSC (MTS) will pay $100 million to resolve SEC charges that it violated the Foreign Corrupt Practices Act (FCPA) to win business in Uzbekistan. According to the SEC’s order, MTS bribed an Uzbek official […]
Mobile TeleSystems Settles FCPA Violations
(HedgeCo.Net) Russian telecommunications provider Mobile TeleSystems PJSC (MTS) will pay $100 million to resolve SEC charges that it violated the Foreign Corrupt Practices Act (FCPA) to win business in Uzbekistan. According to the SEC’s order, MTS bribed an Uzbek official […]
BB&T to Return More Than $5 Million to Retail Investors and Pay Penalty Relating to Directed Brokerage Arrangements
(HedgeCo.Net) The Securities and Exchange Commission today announced that BB&T Securities has agreed to return more than $5 million to retail investors and pay a $500,000 penalty to settle charges that a firm it acquired misled its advisory clients into […]
SEC Obtains Final Judgment Against Former Broker for Defrauding Customers
(HedgeCo.Net) A federal district court has entered a final consent judgment against a broker who was charged with defrauding customers by making unsuitable and unauthorized trades and churning customers’ accounts that enriched the broker at the customers’ expense. The SEC’s […]
SEC Obtains Judgment Against Former Ohio Broker
(HedgeCo.Net) An Ohio federal court has entered a consent judgment against John Gregory Schmidt, formerly a Dayton, Ohio registered representative of a nationwide broker-dealer and investment adviser. The SEC’s complaint, filed September 25, 2018, alleged that Schmidt sold securities belonging […]
Summary Judgement Issued in Fraud Case Against Former Investment Adviser
(HedgeCo.Net) The Securities and Exchange Commission announced today the entry of a final judgment against James S. Polese, a former investment adviser at a large financial institution who was charged with misappropriating client funds. On January 31, 2018, the Commission […]
Final Judgments Handed Down Against Former Law Partner and His Neighbor Charged with Insider Trading
(HedgeCo.Net) A federal district court has entered final consent judgments against a former law firm partner and his neighbor, who were charged with making more than $1 million in illicit profits by insider trading around corporate announcements. The SEC’s complaint, […]
South Florida Investment Fund Allegedly Defrauded Investors Out of Millions.
(HedgeCo.Net) Fraud charges and an asset freeze have been filed against the operators of a South Florida-based investment fund scheme, one of whom has a prior felony conviction and is on parole after nearly 20 years in prison. The SEC […]