Category Archives: HedgeCoVest News

SEC Charges ICO Issuer and Founder with Defrauding Investors

(HedgeCo.Net) The Securities and Exchange Commission yesterday announced charges against Australian citizen Craig Sproule and two companies he founded, Crowd Machine, Inc. and Metavine, Inc., for making materially false and misleading statements in connection with an unregistered offer and sale […]

SEC Obtains Judgment Against Investment Adviser Charged with Defrauding Clients

(HedgeCo.Net) The United States District Court for the Western District of Wisconsin has entered a partial judgment against defendant Michael F. Shillin in a previously filed civil action that charged Shillin with defrauding at least 100 advisory clients. According to […]

SEC Charges Additional Defendant in Phony Certificates of Deposit Scam

(HedgeCo.Net) The Securities and Exchange Commission has charged Allen C. Giltman, a former registered investment professional, with allegedly participating in a long-running fraudulent scheme to lure investors into buying fictitious certificates of deposit (CDs). The scheme resulted in victims, primarily […]

SEC Charges Three Florida Residents in Multi-Million Dollar Insider Trading Scheme

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against three Florida residents for trading in advance of market moving announcements involving DSW Inc., Rite Aid Corporation, and an attempt to acquire Aphria Inc., a Canadian cannabis-related business. According to […]

SEC Charges ICO Issuer and Founder with Defrauding Investors

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Australian citizen Craig Sproule and two companies he founded, Crowd Machine, Inc. and Metavine, Inc., for making materially false and misleading statements in connection with an unregistered offer and sale […]

SEC Charges Charlotte, North Carolina Investment Adviser and Its President for Not Providing Records to Examiners

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Bóveda Asset Management, Inc. and its President and sole owner, George Kenneth Witherspoon, Jr. of Charlotte, North Carolina, for failing to provide required books and records during a Commission examination […]

SEC Obtains Final Judgments Against Crowdfunding Issuer CEO and Registered Funding Portal and Its CEO

(Hedgeco.Net) The Securities and Exchange Commission has announced the final judgments against Nicole Birch, former CEO of crowdfunding issuer, Transatlantic Real Estate, LLC, SEC-registered crowdfunding portal, TruCrowd, Inc., and its CEO, Vincent Petrescu. The SEC’s complaint, filed on September 20, […]

Financial Company and Its President Charged with Engaging in Fraudulent Schemes to Boost Stock Price

(HedgeCo.Net) The Securities and Exchange Commission has charged Medallion Financial Corp., a Delaware company headquartered in New York, NY, and its President and Chief Operating Officer, Andrew Murstein of New York, NY, with illegally engaging in two schemes in an […]

CFTC Charges New Jersey-Based Entities and Individuals With Multi-Million Dollar Forex Fraud

(HedgeCo.Net) The Commodity Futures Trading Commission has announced that it has filed a civil enforcement action in the U.S. District Court for the District of New Jersey against WorldWideMarkets, Ltd., TAB Networks, Inc., Thomas Plaut of Saddle River, N.J., and […]

SEC Charges Five Russians in $80 Million Hacking and Trading Scheme

(HedgeCo.Net) The Securities and Exchange Commission announced fraud charges against five Russian nationals for engaging in a multi-year scheme to profit from stolen corporate earnings announcements obtained by hacking into the systems of two U.S.-based filing agent companies before the […]

Nikola Corporation to Pay $125 Million to Resolve Fraud Charges

(HedgeCo.Net) The Securities and Exchange Commission has announced that Nikola Corporation, a publicly traded company created through a special purpose acquisition company transaction, has agreed to pay $125 million to settle charges that it defrauded investors by misleading them about […]

SEC Halts Texas-Based Ponzi Scheme Targeting Veterans

(HedgeCo.Net) The Securities and Exchange Commission has announced that it has filed an emergency action to shut down a multi-million-dollar Ponzi scheme being perpetrated by Marco “Sully” Perez targeting retirement funds held by veterans and other investors. The SEC also […]