Category Archives: HedgeCoVest News
SEC Obtains Final Judgment Against Investment Advisers Charged with Defrauding Their Advisory Clients
(HedgeCo.Net) The Securities and Exchange Commission has obtained a final judgment against defendants Cetera Advisors, LLC and Cetera Advisor Networks, LLC, whom the SEC previously charged with defrauding their advisory clients by failing to disclose several sources of compensation. According […]
SEC Charges Canadian Company and Former Senior Executive with Accounting Fraud
(HedgeCo.Net) The Securities and Exchange Commission today charged Cronos Group Inc., a Nasdaq-listed cannabis company based in Toronto, for improperly accounting for millions of dollars of revenue and for other accounting misconduct in multiple reporting periods. The SEC also charged […]
SEC Charges Mattel with Financial Misstatements and Former PwC Audit Partner with Improper Professional Conduct
(HedgeCo.Net) The Securities and Exchange Commission today announced that California-based Mattel Inc. has agreed to pay $3.5 million to settle charges relating to misstatements in its third and fourth quarter 2017 financial statements. Separately, the SEC is initiating litigation against […]
SEC Charges Former NewAge CEO with Orchestrating Multi-Year Fraud
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against Brent David Willis, the former Chief Executive Officer (“CEO”) of NewAge, Inc. (formerly known as New Age Beverages Corporation), alleging that Willis engaged in a multi-year fraud by disseminating numerous […]
Federal Court Concludes Receivership in CFTC Ponzi Scheme Action Resulting in the Recovery of Over $1 Billion.
(HedgeCo.Net) The Commodity Futures Trading Commission has announced the successful conclusion of the receivership in CFTC v. Walsh, et al., a $1.3 billion Ponzi scheme case the CFTC filed in 2009. On September 19, the U.S. District Court for the […]
SEC Obtains Final Judgment Against Recidivist Investment Adviser Charged with Defrauding Retirees
(HedgeCo.Net) The Securities and Exchange Commission obtained a final judgment against California-based investment adviser Keith Springer and his firm, Springer Investment Management, Inc. dba Springer Financial Advisors (SFA), whom were charged with defrauding hundreds of retail clients, most of whom […]
New Jersey Development Firm and Four Executives Charged With $600 Million Ponzi-like Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged New Jersey-based National Realty Investment Advisors LLC (NRIA) and four of its former executives with running a Ponzi-like scheme that raised approximately $600 million from about 2,000 investors. The SEC’s complaint alleges […]
SEC Obtains Final Judgment Against Fraud Guarantee Co-Founder for Engaging in Fraudulent Securities Offering
(HedgeCo.Net) The U.S. District Court for the Southern District of New York has entered a final consent judgment against Florida resident Lev Parnas for his role in participating in an offering fraud that raised millions of dollars from investors. According […]
SEC Charges Eight in Scheme to Fraudulently Promote Securities Offerings
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against six individuals and two companies for their involvement in a fraudulent scheme to promote the securities of issuers that were conducting (or purporting to conduct) offerings pursuant to Regulation A, […]
SEC Charges Man for Defrauding Investors Out of Millions of Dollars by Posing as Hedge Fund Billionaire
(Hedgeco.Net) The Securities and Exchange Commission charged Justin Costello for using a false persona, as a Harvard-educated military veteran and hedge fund billionaire, to defraud investors out of millions of dollars. The SEC also charged Costello and David Ferraro, an […]
SEC Charges Southern California Firm with Operating a Ponzi-Type Scheme
(HedgeCo.Net) The Securities and Exchange Commission has filed fraud charges against JMJ Capital Group and its president and chief executive officer, Richard Lee Ramirez, with fraudulently raising millions of dollars from investors in Southern California. The SEC’s complaint alleges that […]
SEC Charges Kim Kardashian for Unlawfully Touting Crypto Security
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Kardashian agreed to settle the […]