Category Archives: HedgeCoVest News
SEC Charges “Money Magnet” Promoter and Company with Offering Fraud Totaling Approximately $300,000
(HedgeCo.Net) The Securities and Exchange Commission has charged Money Magnet Platinum Membership Initiative LLC (“MMPMI”) and its principal, LaKenya Hopkins, with fraudulently raising funds and misappropriating those funds from investors. The SEC’s complaint alleges that, between late 2020 and early […]
Perceptive Advisors Charged for Failing to Disclose SPAC-Related Conflicts of Interest
(HedgeCo.Net) The Securities and Exchange Commission has charged New York-based investment adviser Perceptive Advisors LLC with failing to disclose conflicts of interest regarding its personnel’s ownership of sponsors of special purpose acquisition companies (SPACs) into which Perceptive advised its clients […]
Advisory Firm and Executives Charged with Elaborate Scheme to Defraud Clients out of More Than $75 Million
(HedgeCo.Net) The Securities and Exchange Commission today charged two North Carolina-based executives, Gregory E. Lindberg and Christopher Herwig, and their Malta-based registered investment adviser, Standard Advisory Services Limited, for defrauding clients out of more than $75 million through undisclosed transactions […]
Archer Capital Management Group, the Archer Growth Fund and Related Entities Charged with Defrauding Investors
(HedgeCo.Net) The Securities and Exchange Commission has charged Archer Capital Management Group, the Archer Growth Fund, and two related entities, HDR Management LLC and Silvermoon Group LLC, with operating a fraudulent scheme from December 2019 through December 2020 that raised […]
Advisory Firm and Executives Charged with Devising Scheme to Defraud Clients out of $75 Million
(HedgeCo.Net) The Securities and Exchange Commission has charged two North Carolina-based executives, Gregory E. Lindberg and Christopher Herwig, and their Malta-based registered investment adviser, Standard Advisory Services Limited, for defrauding clients out of more than $75 million through undisclosed transactions […]
SEC Obtains Court Order to Enforce Investigative Subpoenas for Production of Documents by GP Capital and Its President
(HedeCo.Net) The Hon. Ronnie Abrams, United States District Judge for the Southern District of New York, granted the Securities and Exchange Commission’s application to enforce subpoenas for production of documents issued to GP Capital Group, Inc., a Wyoming corporation headquartered […]
SEC Charges Infrastructure Company Granite Construction and Former Executive with Financial Reporting Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Granite Construction, Incorporated and its former Senior Vice President, Dale Swanberg, with fraud for inflating the financial performance of the major subdivision Swanberg managed. In 2021, Granite restated its financial statements from […]
SEC Settles Charges with Quant Who Perpetrated Front-Running Scheme
(HedgeCo.Net) The Securities and Exchange Commission has obtained a final judgment against Sergei Polevikov, who worked as a quantitative analyst at two asset management firms, for perpetrating a front-running scheme that generated profits of approximately $8.5 million. The SEC also […]
CFTC Wins $7.49 Million Jury Verdict in Texas Broker Trading Case
(HedgeCo.Net) Broker and Firm Found Liable for Secretly Trading Against Customers, Disclosing Confidential Order Information and for Failing to Supervise Broker and Failing to Make and Keep Required Records. The Commodity Futures Trading Commission has announced a jury in the […]
Final Judgment Against Former Broker Found Liable for Defrauding Federal Employees
(HedgeCo.Net) The U.S. District Court for the Northern District of Georgia has entered a final consent judgment against Jonathan Dax Cooke, a former broker accused of fraudulently persuading hundreds of current and former federal employees to liquidate their Thrift Savings […]
Barred Broker and His Company Charged with Defrauding Older Americans
(HedgeCo.Net) The Securities and Exchange Commission has charged Global Business Development and Consulting Corp. (Global) and its owner, Anthony J. Mastroianni, Jr., in connection with a $1.2 million fraudulent promissory note scheme targeting older Americans. According to the SEC’s complaint, […]
SEC Charges Eagle Bancorp and Former CEO with Failing to Disclose $90 Million in Party Loans
(HedgeCo.Net) The Securities and Exchange Commission has charged Eagle Bancorp, Inc., based in Bethesda, Maryland, and its former Chief Executive Officer and Chairman of the Board, Ronald D. Paul, with negligently making false and misleading statements about related party loans […]