Category Archives: HedgeCo News
Chicago-based Aon Investments Charged with Misleading Pennsylvania Public Employees’ Pension Fund
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against Aon Investments USA Inc., a Chicago-based registered investment adviser, and the firm’s former partner, Claire P. Shaughnessy, for misleading their client, the Pennsylvania Public School Employees’ Retirement System (PSERS), about […]
Morgan Stanley To Pay $249 Million to settle Fraud Charges
(HedgeCo.Net) The Securities and Exchange Commission has charged investment banking giant Morgan Stanley & Co. LLC and the former head of its equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information about the sale […]
J.P. Morgan to Pay $18 Million for Violating Whistleblower Protection Rule
(HedgeCo.Net) The Securities and Exchange Commission has announced settled charges against J.P. Morgan Securities LLC (JPMS) for impeding hundreds of advisory clients and brokerage customers from reporting potential securities law violations to the SEC. JPMS agreed to pay an $18 […]
Future FinTech CEO Charged With Fraud and Disclosure Failures
(HedgeCo.Net) The Securities and Exchange Commission has charged Shanchun Huang with manipulative trading in the stock of Future FinTech Group Inc., using an offshore account shortly before he became Future FinTech’s CEO in 2020. The SEC also charged Huang with […]
SEC Charges Former CEO of Medical Device Startup with $41 Million Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Laura Tyler Perryman, the former CEO and co-founder of Florida-based medical device startup Stimwave Technologies Inc., with defrauding investors out of approximately $41 million by making false and misleading statements about one […]
Five Unregistered Brokers, Four Companies Charged in Widespread Pre-IPO Fraud Scheme Netting $88m
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Raymond J. Pirrello, Jr., Marcello Follano, Robert Cassino, Anthony DiTucci, Joseph Rivera, and their New Jersey or New York-based companies Prior 2 IPO Inc., Late Stage Asset Management, LLC, Pre […]
SEC Charges Investment Adviser for Custody Rule Violations and Disclosure Failures
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against Brite Advisors USA, Inc. (f/k/a deVere USA, Inc.) (“Brite USA”), a NY-based SEC-registered investment adviser, for failing to comply with Commission requirements for the safekeeping of client assets and for […]
Kraken Charged for Operating as an Unregistered Securities Exchange, Broker, Dealer
(HedgeCo.Net) The Securities and Exchange Commission has charged Payward Inc. and Payward Ventures Inc., together known as Kraken, with operating Kraken’s crypto trading platform as an unregistered securities exchange, broker, dealer, and clearing agency. According to the SEC’s complaint, since […]
Investment Adviser Alleged to Have Engaged in Fraudulent “Cherry-Picking” Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced that it has reached settlements in its case against Defendant Bell Rock Capital, LLC, and its principal, Defendant M. Cassandra Toroian, for operating a multi-year “cherry-picking” scheme that defrauded Bell Rock clients. […]
Charter Communications to Pay $25 Million Penalty for Stock Buyback Controls Violations
(HedgeCo.Net) The Securities and Exchange Commission has announced settled charges against Charter Communications Inc. for violating internal accounting controls requirements relating to its stock buybacks. According to the SEC’s order, Charter’s board authorized company personnel to conduct certain buybacks using trading […]
Connecticut Investment Adviser Charged with Stealing Clients’ Money
(HedgeCo.Net) The Securities and Exchange Commission has charged Darien, Connecticut-based investment adviser John A. Masanotti, Jr. and his company, Middlesex Mortgage Group, LLC, with fraud for lying to investors while taking at least $5.9 million from investors from 2016 to […]
SEC Obtains Judgment Against Hedge Fund Trader Related to Hedge Fund Valuation Scheme
(HedgeCo.Net) The U.S. District Court for the Southern District of New York has entered a final consent judgment against Jeremy Shor, a trader for a private fund advised by now-defunct New York-based investment adviser Premium Point Investments LP, permanently enjoining […]
