Category Archives: Insider Trading

Mobile TeleSystems Settles FCPA Violations

(HedgeCo.Net) Russian telecommunications provider Mobile TeleSystems PJSC (MTS) will pay $100 million to resolve SEC charges that it violated the Foreign Corrupt Practices Act (FCPA) to win business in Uzbekistan. According to the SEC’s order, MTS bribed an Uzbek official […]

BB&T to Return More Than $5 Million to Retail Investors and Pay Penalty Relating to Directed Brokerage Arrangements

(HedgeCo.Net) The Securities and Exchange Commission today announced that BB&T Securities has agreed to return more than $5 million to retail investors and pay a $500,000 penalty to settle charges that a firm it acquired misled its advisory clients into […]

SEC Obtains Final Judgment Against Former Broker for Defrauding Customers

(HedgeCo.Net) A federal district court has entered a final consent judgment against a broker who was charged with defrauding customers by making unsuitable and unauthorized trades and churning customers’ accounts that enriched the broker at the customers’ expense. The SEC’s […]

SEC Obtains Judgment Against Former Ohio Broker

(HedgeCo.Net) An Ohio federal court has entered a consent judgment against John Gregory Schmidt, formerly a Dayton, Ohio registered representative of a nationwide broker-dealer and investment adviser. The SEC’s complaint, filed September 25, 2018, alleged that Schmidt sold securities belonging […]

Summary Judgement Issued in Fraud Case Against Former Investment Adviser

(HedgeCo.Net) The Securities and Exchange Commission announced today the entry of a final judgment against James S. Polese, a former investment adviser at a large financial institution who was charged with misappropriating client funds. On January 31, 2018, the Commission […]

Final Judgments Handed Down Against Former Law Partner and His Neighbor Charged with Insider Trading

(HedgeCo.Net) A federal district court has entered final consent judgments against a former law firm partner and his neighbor, who were charged with making more than $1 million in illicit profits by insider trading around corporate announcements. The SEC’s complaint, […]

South Florida Investment Fund Allegedly Defrauded Investors Out of Millions.

(HedgeCo.Net) Fraud charges and an asset freeze have been filed against the operators of a South Florida-based investment fund scheme, one of whom has a prior felony conviction and is on parole after nearly 20 years in prison. The SEC […]

Charges Filed in Alleged $25-Million Microcap Stock Fraud

(HedgeCo.Net) Charges have been filed against four individuals and related businesses for their roles in two microcap frauds and unlawful securities offerings. In sum, the alleged illegal transactions resulted in proceeds of more than $25 million. According to the SEC’s […]

Final Judgments Against Former CEO and Former CFO of General Cable Corp. Operating Segment

(HedgeCo.Net) The Honorable Joan A. Lenard of the U.S. District Court for the Southern District of Florida entered final judgments on consent against Mathias Francisco Sandoval Herrera and Maria D. Cidre, the former Chief Executive Officer and former Chief Financial […]

Broker-Dealer and Transfer Agent Charged in Microcap Shell Factory Fraud

(HedgeCo.Net) The Securities and Exchange Commission today announced charges against a broker-dealer, a transfer agent, and three individuals for their roles in the creation of over a dozen undisclosed “blank check” companies from 2009 to 2014. In its complaint, the […]

Cognizant To Pay $25-Million To Settle FCPA Violations

(HedgeCo.Net) Cognizant Technology Solutions Corporation has agreed to pay $25 million to settle charges that it violated the Foreign Corrupt Practices Act (FCPA), and two of the company’s former executives were charged for their roles in facilitating the payment of […]

Settlement Concluded with Broker in Case Alleging Public Offering Allocation Fraudulent Practices

(HedgeCo.Net) The U.S. District Court for the District of New Jersey has entered a final judgment against defendant Brian Hirsch, who was charged by the SEC in connection with public offering allocation practices at two large brokerage firms. The SEC’s […]