Category Archives: HedgeCoVest News

SEC Charges Index Manager and Friend With Insider Trading

(HedgeCo.Net) The Securities and Exchange Commission has charged Yinghang “James” Yang, a senior index manager at a globally recognized index provider, and his friend Yuanbiao Chen, a manager at a sushi restaurant, with perpetrating an insider-trading scheme that generated more […]

CFTC Charges 4 Florida Men, 1 New Jersey Man, and Their Companies in $4.75 Million Forex Ponzi Scheme

(HedgeCo.Net) The Commodity Futures Trading Commission has announced the filing of a civil enforcement action in the United States District Court for the Middle District of Florida against 10 defendants in a multi-level $4.75 million off-exchange foreign currency (forex) Ponzi scheme. […]

SEC Charges Former CEO of Technology Company With Raising $123 Million in Fraudulent Offerings

(HedgeCo.Net) The Securities and Exchange Commission today filed an emergency action against Adam Rogas, the former CEO of Las-Vegas-based NS8 Inc., which purports to provide fraud detection and prevention software to e-commerce merchants, seeking an asset freeze and charging Rogas with […]

Unregistered ICO Issuer to pay $6-Million Penalty for Distribution to Harmed Investors

(HedgeCo.Net) The Securities and Exchange Commission today announced charges against Unikrn Inc., an operator of an online eSports gaming and gambling platform headquartered in Seattle, Washington, for conducting an unregistered initial coin offering (ICO) of digital asset securities.  Unikrn agreed to settle […]

SEC Charges Arizona-Based Financial Services Companies and Their CEO with Fraud

(HedgeCo.Net) The Securities and Exchange Commission today charged two Arizona-based financial service companies and their chief executive officer with defrauding investors of approximately $2.9 million by making false and misleading statements about the companies’ revenue and its business prospects. The […]

$15 Million Judgment Obtained Against Mastermind of Market Manipulation and Unlawful Stock Distribution Scheme

(HedgeCo.Net) The Honorable P. Kevin Castel of the U.S. District Court for the Southern District of New York has entered a default judgment against Francisco Abellan Villena, ordering him to pay $15 million for his role in a fraudulent stock […]

Victims of New York Ponzi Scheme Recover Over $1 Billion

(HedgeCo.Net) The Commodity Futures Trading Commission has announced that, pursuant an order entered on Monday, August 24, 2020 by the U.S. District Court for the Southern District of New York, the court-appointed receiver has completed a final distribution to victims […]

New Jersey-Based Investment Adviser and Its President Charged with Defrauding Clients

(HedgeCo.Net) The Securities and Exchange Commission has charged Maplewood, New Jersey-based RRBB Asset Management, LLC and its president, co-owner and managing member, Carl S. Schwartz, with operating a cherry-picking scheme that defrauded RRBB’s clients. According to the SEC’s complaint, Schwartz […]

Washington Company and Owner Charged with Defrauding Investors

(HedgeCo.Net) The Securities and Exchange Commission today charged a Bellevue, Washington company and its principal with defrauding investors by making false and misleading statements about a failing real estate investment project. The SEC’s complaint alleges that, between September and December […]

SEC Charges Fund Manager for Fraud in Securities Offering in Neiman Marcus Bankruptcy

(HedgeCo.Net) The Securities and Exchange Commission has charged Daniel Kamensky, co-chair of the unsecured creditors committee in the Neiman Marcus Group Ltd. LLC Chapter 11 bankruptcy proceedings, with abusing his position on the committee to attempt to benefit a New […]

SEC Charges Investment Adviser with Fraud

(HedgeCo.Net) Steven Fitzgerald Brown has been charged with fraud arising from his operation of investment pool Alpha Trade Analytics, Inc. The SEC’s complaint, filed on September 3, alleges that Brown, the CEO, president, and sole owner and director of Alpha […]

Fund Manager Charged with Fraud in Securities Offering in Neiman Marcus Bankruptcy

(HedgeCo.Net) The Securities and Exchange Commission today charged Daniel Kamensky, co-chair of the unsecured creditors committee in the Neiman Marcus Group Ltd. LLC Chapter 11 bankruptcy proceedings, with abusing his position on the committee to attempt to benefit a New […]