Category Archives: HedgeCoVest News

SEC Charges IIG Co-Founder Martin Silver With Fraud

(HedgeCo.Net) The Securities and Exchange Commission today announced partially settled charges against Martin Silver of Long Branch, New Jersey, in connection with a fraudulent scheme to overvalue assets held in a hedge fund offered by his investment advisory firm, International […]

SEC Wins Judgment Against Former Georgia Legislator Charged with Fraud

(HedgeCo.Net) The United States District Court for the Northern District of Georgia has entered final judgment on the SEC’s fraud claims against former Georgia state legislator Clarence Dean Alford. The SEC’s complaint alleged that from 2017 to 2019, Alford, who […]

Federal Court Orders The Alista Group, LLC and Florida Man to Pay More Than $2.6 Million in Precious Metals Fraud

(HedgeCo.Net) The Commodity Futures Trading Commission has announced today that the U.S. District Court for the Middle District of Florida entered an order granting the CFTC’s motion for entry of default judgment against defendants The Alista Group, LLC of Orlando, […]

Federal Court Orders Nevada Company and its Owner to Pay More Than $32 Million for Cryptocurrency Fraud and Misappropriation Scheme

(HedgeCo.Net) The Commodity Futures Trading Commission has announced that following a hearing on the merits, the U.S. District Court for the District of Nevada entered a default judgment against defendants David Gilbert Saffron, an Australian citizen residing in Las Vegas, […]

SEC Obtains Emergency Asset Freeze, Charges Actor with Operating a $690 Million Ponzi Scheme

(HedgeCo.Net) The Securities and Exchange Commission has announced that it obtained an asset freeze and other emergency relief in an emergency enforcement action against Los Angeles-based actor Zachary Horwitz and his company, 1inMM (one in a million) Capital, LLC in […]

Auditor Charged for Failure to Register with PCAOB and Multiple Audit Failures

(HedgeCo.Net) The Securities and Exchange Commission today announced the institution of administrative proceedings against a Texas-based CPA for allegedly failing to register his firm with the Public Company Accounting Oversight Board (PCAOB) and alleged wholesale failures in auditing and reviewing […]

Atlanta Resident Charged with defrauding investors and misappropriating investor funds

(HedgeCo.Net) The SEC’s complaint alleges that, since late 2015, Richard J. Randolph III has raised more than $1.6 million from at least 14 investors whom Randolph persuaded to fund purported real estate and business projects. According to the complaint, Randolph […]

SEC Charges Indianapolis-Area Resident for Offering Fraud

(HedgeCo.Net) The Securities and Exchange Commission has announced partially settled charges against George S. Blankenbaker of Westfield, Indiana in connection with fraudulent and unregistered securities offerings that raised over $11 million from more than 100 investors, many of whom were […]

Investment Adviser Charged with Defrauding Advisory Clients

(HedgeCo.Net) The Securities and Exchange Commission announced charges against Douglas E. Elstun of Lenexa, Kansas, an investment adviser, for repeatedly defrauding and breaching his fiduciary duty to advisory clients through his formerly registered investment adviser Crossroads Financial Management, Inc. (CFM). […]

CFTC Orders Coinbase Inc. to Pay $6.5 Million for False, Misleading, or Inaccurate Reporting and Wash Trading

(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order filing and settling charges against digital asset exchange operator Coinbase Inc., based in San Francisco, California, for reckless false, misleading, or inaccurate reporting as well as wash trading by a […]

Federal Court Orders UK Man to Pay More Than $571 Million for Operating Fraudulent Bitcoin Trading Scheme

(HedgeCo.Net) The Commodity Futures Trading Commission today announced that the U.S. District Court for the Southern District of New York entered a default judgment against Benjamin Reynolds, purportedly of Manchester, England, finding that he operated a fraudulent scheme to solicit […]

SEC Charges Unregistered Brokers Who Sold Equialt Securities to Retail Investors

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Jason P. Wootten and Ronald Frank Stevenson, two Arizona-based individuals, and the companies they controlled and operated, for registration violations in connection with their unlawful sales of securities of real […]