Category Archives: HedgeCoVest News
Florida Resident Charged for Operating $112 Million Ponzi Scheme that Targeted Haitian-American Community
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Broward County, Florida resident Sanjay Singh and his trucking and logistics company, Royal Bengal Logistics Inc., with fraudulently raising approximately $112 million from as many as 1,500 investors through an […]
SEC Charges Convicted Fraudster in Alleged Ponzi Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged Wilson Baston with defrauding numerous investors in an alleged Ponzi scheme, in which he raised millions of dollars through dozens of transactions purportedly to fund real estate investments, but frequently used the […]
Investment Fund Founder Charged In Alleged $25 Million Fraud Offering
(HedgeCo.Net) The Securities and Exchange Commission has charged William K. Ichioka, of New York, New York, with fraudulently raising $25 million from individual investors primarily in California and Oregon by making false claims about his investing success and promising large […]
SEC Charges Private Equity Fund Adviser for Overcharging Fees and Failing To Disclose Fee Calculation Conflict
(HedgeCo.Net) The Securities and Exchange Commission has charged New York-based investment adviser Insight Venture Management LLC with charging excess management fees and failing to disclose a conflict of interest to investors relating to its fee calculations. To settle the SEC’s […]
SEC Secures Emergency Relief to Protect Binance.US Customers’ Assets
(Hedgeco.Net) The Securities and Exchange Commission has secured emergency relief in which the all the defendants in its litigation against Binance Holdings Limited, BAM Management US Holdings Inc., BAM Trading Services Inc., and Changpeng Zhao agreed to repatriate to the […]
Ohio Investment Adviser Charged with Misappropriating $1.3 Million from a Retail Investor
(HedgeCo.Net) The Securities and Exchange Commission has charged Patrick Thayer of Cincinnati, Ohio, previously a dually-registered representative and investment advisory representative, with misappropriating more than $1.3 million from an advisory client. The SEC’s complaint alleges that in November 2013, Thayer […]
SEC Charges Financial Advisor with Fraud for Stealing from Elderly Customers to Pay Personal Expenses
(HedgeCo.Net) The Securities and Exchange Commission has charged Douglas McKelvey, a former financial advisor with fraud for misappropriating more than $1.7 million from two elderly brokerage customers who were close relatives of McKelvey’s. The SEC’s complaint alleges that from June […]
SEC Charges Investment Adviser and Principal in Abusive Naked Short Selling Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged investment adviser Sabby Management LLC and its managing partner, Hal D. Mintz, with fraud in connection with a long running scheme involving misrepresentations and violations of rules for short selling and order […]
SEC Obtains Final Judgment Against Investment Adviser
(HedgeCo.Net) A federal district court in the Western District of New York has entered a final judgment by default against Tarek D. Bahgat, an investment adviser formerly based in Amherst, New York. The SEC’s complaint alleged that Bahgat misappropriated over […]
Coinbase Charged for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency
(Hedgeco.Net) Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program. The Securities and Exchange Commission has charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, […]
SEC Files 13 Charges Against Binance Entities and Founder Changpeng Zhao
(HedgeCo.Net) Charges include operating unregistered exchanges, broker-dealers, and clearing agencies; misrepresenting trading controls and oversight on the Binance.US platform; and the unregistered offer and sale of securities. The Securities and Exchange Commission has charged Binance Holdings Ltd. (“Binance”), which operates […]
SEC Charges Massachusetts-Based Firm and Its Co-Owners with Acting as Unregistered Securities Dealers
(HedgeCo.Net) The Securities and Exchange Commission (the “SEC”) has announced charges against Auctus Fund Management, LLC (“Auctus Management”) and its co-owners Alfred Sollami of Brookline, Massachusetts and Louis Posner of Mansfield, Massachusetts, for failing to register as securities dealers with […]
