Category Archives: Insider Trading
Former Convicted Felon to Pay $24 Million to Settle SEC Charges for Operating a Ponzi and Pyramid Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced the resolution of its fraud action against Eric J. “EJ” Dalius and the business he owned, Saivian LLC. Dalius and Saivian LLC have agreed to pay $24 million in disgorgement, prejudgment interest […]
Activision Blizzard to Pay $35 Million for Failing to Maintain Disclosure Controls and Violating Whistleblower Protection Rule
(HedgeCo.Net) The Securities and Exchange Commission has announced that Activision Blizzard Inc., a video game development and publishing company, agreed to pay $35 million to settle charges that it failed to maintain disclosure controls and procedures to ensure that the […]
SEC Charges Nevada-Based Investment Adviser for Conducting Fraudulent “Cherry-Picking” Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged Steve Susoeff, LLC (dba Meritage Financial Group), a Henderson, Nevada-based investment adviser, and Steven J. Susoeff, its sole owner and principal, for conducting a cherry-picking scheme that defrauded their clients. According to […]
SEC Charges Investment Club Manager for Misappropriating Investor Funds
(HedgeCo.Net) The Securities and Exchange Commission filed fraud charges against Austin D. Ellison-Meade, alleging that he fraudulently raised millions of dollars from investors in an investment club he managed called Baycap.io. According to the SEC complaint, Meade falsely claimed that […]
SEC Charges Avraham Eisenberg with Manipulating Mango Markets’ “Governance Token” to Steal $116 Million of Crypto Assets
(HedgeCo.Net) The Securities and Exchange Commission has charged Avraham Eisenberg with orchestrating an attack on a crypto asset trading platform, Mango Markets, by manipulating the MNGO token, a so-called governance token that was offered and sold as a security. Investigations […]
Nexo Agrees to Pay $45 Million in Penalties and Cease Unregistered Offering of Crypto Asset Lending Product
(HedgeCo.Net) The Securities and Exchange Commission today charged Nexo Capital Inc. with failing to register the offer and sale of its retail crypto asset lending product, the Earn Interest Product (EIP). To settle the SEC’s charges, Nexo agreed to pay […]
Los Angeles Individual Charged with Perpetrating a $47 Million Affinity Fraud Targeting Members of the Orthodox Jewish Community
(HedgeCo.Net) The Securities and Exchange Commission has announced that it has filed charges against Yossi Engel for perpetrating a $47 million affinity fraud from December 2018 to January 2020, targeting at least 29 members of the Orthodox Jewish community. The […]
CFTC Charges Former New York City Commodity Pool Operator with Fraud
(HedgeCo.Net) The Commodity Futures Trading Commission today announced it filed a civil enforcement action in the U.S. District Court for the Eastern District of New York against Mark A. Ramkishun, a former resident of New York City. The complaint alleges that Ramkishun […]
Former BlackRock Portfolio Manager Charged with Undisclosed Conflict of Interest
(HedgeCo.Net) The Securities and Exchange Commission has charged Randy Robertson, a former BlackRock Advisors, LLC portfolio manager, for failing to disclose a conflict of interest arising from his relationship with a film distribution company in which the fund he managed […]
Creator of CoinDeal Crypto Scheme and Seven Others Charged in Connection with $45 Million Fraud
(HedgeCo.Net) The Securities and Exchange Commission charhasged Neil Chandran, Garry Davidson, Michael Glaspie, Amy Mossel, Linda Knott, AEO Publishing Inc, Banner Co-Op, Inc, and BannersGo, LLC for their involvement in a fraudulent investment scheme named CoinDeal that raised more than […]
SEC Charges Former CEO of Biotech Company CytoDyn with Fraud, Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has charged Nader Pourhassan, the former CEO of CytoDyn Inc., with fraud and insider trading in connection with providing misleading information to shareholders about the progress of a clinical research treatment for COVID-19 and […]
Honeywell to pay $81 Million after being charged in Bribery Schemes
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Honeywell International Inc. for violations of the Foreign Corrupt Practices Act (FCPA) arising out of bribery schemes that took place in Brazil and Algeria. The company has agreed to pay […]
