Category Archives: Insider Trading
CFTC Charges Alleged Bitcoin Seller and Former Attorney with Multi-Million Dollar Bitcoin Fraud, Imposes Over $5 Million in Restitution
(HedgeCo.Net) The Commodity Futures Trading Commission has issued two orders simultaneously filing and settling charges against Randy Craig Levine, formerly of Coral Gables, Florida, and Philip Reichenthal of Homestead, Florida, for perpetrating a multi-million dollar bitcoin fraud. The orders charge […]
SEC Charges Former Army Financial Counselor Who Defrauded Gold Star Family Members
(HedgeCo.Net) The Securities and Exchange Commission has charged former U.S. Army financial counselor Caz L. Craffy for defrauding Gold Star family members and others by engaging in unauthorized trading—including of life insurance and family survivor benefits they received following the […]
SEC Charges Police Chief, Four Others in Connection with Insider Trading Before Pharmaceutical Merger
(HedgeCo.NET) The Securities and Exchange Commission has filed insider trading charges against five individuals, including a police chief in Dighton, Massachusetts, arising from trading before the announcement of a tender offer by Alexion Pharmaceuticals Inc. to acquire Portola Pharmaceuticals Inc. […]
Former CFO Charged for Failure to Disclose Company’s $28 Million Liability
(HedgeCo.Net) The Securities and Exchange Commission has charged Vidul Prakash, the former Chief Financial Officer of California-based manufacturer of “smart” windows, View Inc. (“View”), for his negligent failure to ensure the company’s disclosure of $28 million in projected warranty-related liabilities. […]
SEC Charges Police Chief, Four Others in Connection with Insider Trading Before Pharmaceutical Merger
(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against five individuals, including a police chief in Dighton, Massachusetts, arising from trading before the announcement of a tender offer by Alexion Pharmaceuticals Inc. to acquire Portola Pharmaceuticals Inc. […]
SEC Obtains Emergency Relief to Halt Pre-IPO Stock Fraud Scheme by Unregistered Broker-Dealer
(HedgeCo.Net) The Securities and Exchange Commission has announced a preliminary injunction, asset freeze, and other emergency relief against Legend Venture Partners LLC, a New York City-based unregistered broker-dealer, in connection with a fraudulent scheme involving the sale of interests in […]
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 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 […]
