Category Archives: Insider Trading

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 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 […]

Private Equity Fund Adviser Charged with Fee and Expense Disclosure Failures

(HedgeCo.Net) The Securities and Exchange Commission has charged registered investment adviser Global Infrastructure Management, LLC for failing to properly offset management fees and for making misleading statements about the fees and expenses it charged. Global agreed to pay a $4.5 […]

San Diego-Based Companies and Their Principal Charged with Operating $15 Million Ponzi Scheme

(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Fusion Hotel Management, LLC, Fusion Hospitality Corporation, and their founder, Denny T. Bhakta of San Diego, California for fraudulently raising at least $15 million from more than 40 retail investors. […]

Wedbush Securities Charged with Unregistered Sales of Microcap Securities and Failing to Report Suspicious Transactions

(HedgeCo.Net) The Securities and Exchange Commission has announced that Wedbush Securities Inc., a California-based broker-dealer, has agreed to pay more than $1.2 million to settle charges arising from the unlawful unregistered distribution of nearly 100 million shares of more than […]

SEC Charges CFO and Former Partner with Insider Trading

(HedgeCo.Net) The Securities and Exchange Commission has charged the former Chief Financial Officer of pharmaceutical company Immunomedics, Inc. and his former romantic partner with insider trading in the company’s stock.  According to the SEC’s complaint, while serving as CFO of […]

SEC Charges Three Canadian Citizens in Fraudulent Penny Stock Scheme

(Hedgeco.Net) The Securities and Exchange Commission has announced it charged three Canadian citizens with carrying out a fraudulent scheme involving penny stocks which generated tens of millions of dollars in proceeds but left investors with nearly worthless shares of various […]