Category Archives: HedgeCo News

New York-Based Investment Adviser and Its CEO and Former Chief Compliance Officer Charged with Securities Violations

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against registered investment adviser A.G. Morgan Financial Advisors, LLC (“AGM”) of Massapequa, New York, AGM’s owner Vincent J. Camarda, and AGM’s former Chief Compliance Officer James McArthur, for unlawfully offering and […]

Investment Adviser Charged with Orchestrating Multi-Million Dollar Ponzi Scheme

(HedgeCo.Net) The U.S. District Court for the District of Rhode Island has entered its final judgment and a permanent injunction against Patrick Churchville, the owner and president of Rhode Island-based investment advisory firm ClearPath Wealth Management, LLC, for defrauding the […]

SEC Sues New York Based Firm and Its Managing Member for Acting as Unregistered Securities Dealers

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against LG Capital Funding, LLC (“LG Capital”) and its managing member Joseph Lerman of Brooklyn, New York, for failing to register as securities dealers with the SEC. LG Capital and Lerman […]

SEC Charges Former Executive of Network Infrastructure Company with Accounting Fraud

(HedgeCo.Net) The Securities and Exchange Commission has charged Anthony Sirotka, the former Chief Administrative Officer and President of FTE Networks, Inc., a network infrastructure company formerly based in Naples, Florida, for his role in a multi-year accounting fraud. The alleged […]

SEC Charges Former Cco of Investment Adviser Who Misappropriated Funds

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Jennifer Campbell, the former Chief Compliance Officer of a previously registered investment adviser, in connection with Campbell’s misappropriation of client funds between February 2019 and May 2021. The SEC’s complaint, […]

North Carolina Investment Adviser and Public Company CEO Charged with Fraudulent Self-Dealing

(HedgeCo.Net) The Securities and Exchange Commission has charged North Carolina resident Martin A. Sumichrast with defrauding Stone Street Partners, LLC, a private fund that he managed, and its investors by misappropriating fund assets and by engaging in several unauthorized transactions […]

Investment Adviser and Its Principals Charged with Fraud

(HedgeCo.Net) The Securities and Exchange Commission has filed charges against Rancho Santa Fe, California investment adviser Cornerstone Acquisition & Management Company LLC (“Cornerstone”), its chief executive officer, portfolio manager, and chief compliance officer, Derren Lee Geiger, and its chief financial […]

SEC Halts Alleged Ongoing $39 Million Fraud by Hedge Fund Adviser

(HedgeCo.Net) The Securities and Exchange Commission has announced fraud charges against Detroit-based EIA All Weather Alpha Fund I Partners LLC (EIA) and its sole owner, Andrew M. Middlebrooks, for allegedly engaging in a multi-year scheme that included the misappropriation and […]

TradeZero America and Co-Founder Charged with Deceiving Customers about Meme Stock Trading Halts

(HedgeCo.Net) The Securities and Exchange Commission has charged broker-dealer TradeZero America Inc., and its co-founder, Daniel Pipitone, with falsely stating to the firm’s customers that they didn’t restrict the customers’ purchases of meme stocks when in fact they did. In […]

BNY Mellon Investment Adviser Charged for Misstatements and Omissions Concerning ESG Considerations

(HedgeCo.Net) The Securities and Exchange Commission has charged BNY Mellon Investment Adviser, Inc. for misstatements and omissions about Environmental, Social, and Governance (ESG) considerations in making investment decisions for certain mutual funds that it managed. To settle the charges, BNY […]

Wells Fargo Advisors Charged With Anti-Money Laundering Related Violations

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Wells Fargo Advisors for failing to file at least 34 Suspicious Activity Reports (SARs) in a timely manner between April 2017 and October 2021. Wells Fargo Advisors, the St. Louis-based […]

Court Enters Final Judgment Against Investment Adviser COO

(HedgeCo.Net) The United States District Court for the Southern District of New York has entered a final judgment against Richard T. Diver, the former chief operating officer (COO) of an investment adviser. According to the SEC’s complaint, filed in March […]