Category Archives: Insider Trading

SEC Charges CEO With Defrauding Investors

(HedgeCo.Net) The Securities and Exchange Commission has announced securities fraud charges against recidivist Michael Shustek, the CEO of several Las Vegas investment trusts (REITs), and his wholly owned investment advisory firm, Vestin Mortgage LLC. The complaint alleges that since at […]

SEC Charges 27 Investment Advisers and 6-Broker- Dealers for Form CRS Filing and Delivery Failures

(HedgeCo.Net) The Securities and Exchange Commission today announced that 21 investment advisers and 6 broker-dealers have agreed to settle charges that they failed to timely file and deliver their client or customer relationship summaries – known as Form CRS – […]

SEC Obtains Final Judgment for More Than $7 Million and Bars Former CEO from the Securities Industry

(HedgeCo.Net) The United States District Court for the Southern District of New York has entered consent judgments against Suneet Singal and his entities, First Capital Real Estate Investments, LLC and First Capital Real Estate Advisors LP, as well as against […]

California Resident Charged in Microcap Fraud Scheme Targeting Retail Investors

(HedgeCo.Net) The Securities and Exchange Commission today announced that it has filed an emergency action charging California resident Charlie Abujudeh with running microcap fraud schemes targeting retail investors. According to the SEC’s complaint filed today in U.S. District Court for […]

SEC Files Charges in Multi-Million Dollar Fraud Involving Two Companies

(HedgeCo.Net) The Securities and Exchange Commission has filed charges against Aron Govil of Jacksonville, Florida, for defrauding investors in two companies he controlled, Cemtrex Inc. and Telidyne Inc.    According to the SEC’s complaint, filed today in U.S. District Court […]

SEC Charges Executives of Network Infrastructure Company With Accounting Fraud

(HedgeCo.Net) The Securities and Exchange Commission has charged the former CEO and CFO of FTE Networks Inc., a network infrastructure company formerly based in Naples, Florida, with conducting a multi-year accounting fraud. This alleged scheme involved inflating the company’s revenues […]

SEC Charges SPAC, Sponsor, Merger Target, and CEOs for Misleading Disclosures Ahead of Proposed Business Combination

(HedgeCo.Net) The Securities and Exchange Commission today announced charges against special purpose acquisition corporation Stable Road Acquisition Company, its sponsor SRC-NI, its CEO Brian Kabot, the SPAC’s proposed merger target Momentus Inc., and Momentus’s founder and former CEO Mikhail Kokorich […]

TIAA Subsidiary to pay $97 Million Enforcement Action for Violations in Retirement Rollover Recommendations

(HedgeCo.Net) The Securities and Exchange Commission has announced that TIAA-CREF Individual & Institutional Services LLC (TC Services), a subsidiary of Teachers Insurance and Annuity Association of America (TIAA), will pay $97 million to settle charges of inaccurate and misleading statements […]

Three Individuals Charged with Insider Trading

(HedgeCo.Net) The Securities and Exchange Commission has charged three individuals with insider trading in advance of an announcement by Long Blockchain Company (formerly known as Long Island Iced Tea Co.) that it was going to “pivot” from its existing beverage business […]

“TheBull” Charged with Selling “Insider Trading Tips” on the Dark Web

(HedgeCo.Net) The Securities and Exchange Commission charges Apostolos Trovias, a Greek national, with perpetrating a fraudulent scheme to sell what he called “insider trading tips” on the Dark Web. The Dark Web, which facilitates anonymity by obscuring users’ identities, allows […]

Court Enters Judgments Against Investment Adviser Firm and Owner for Undisclosed Compensation Practices

(HedgeCo.Net) A federal district court in Connecticut has entered final judgments against investment adviser Westport Capital Markets, LLC and its sole owner, Christopher E. McClure. The judgments order that Westport Capital and McClure are jointly and severally liable for disgorgement […]

Hedge Fund Trader Charged in Alleged Lucrative Front-Running Scheme

(HedgeCo.Net) The Securities and Exchange Commission has filed fraud charges against Sean Wygovsky, a trader at a major Canada-based asset management firm, in connection with a long-running and lucrative front-running scheme that Wygovsky perpetrated in the accounts of his close […]