Category Archives: HedgeCoVest News
SEC Charges Investment Adviser with Failing to Disclose Financial Conflicts of Interest
(HedgeCo.Net) The Securities and Exchange Commission has charged Arthur S. Hoffman with fraud arising from recommendations he made to clients while working as an investment adviser representative of Ameriprise Financial Services. The SEC’s complaint, filed February 24, 2022, alleges that, […]
SEC Charges Director of Investor Relations with Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has charged John-Michael Havrilla, a former employee of medical device company PAVmed Inc., for insider trading in advance of the company’s April 2020 positive earnings announcement. To settle the charges against him, Havrilla agreed […]
SEC Settles Charges Against Silicon Valley Insider Trading Ring
(HedgeCo.Net) A federal district court judge has entered final consent judgments against Nathaniel Brown and Benjamin Wylam, which concluded the Securities and Exchange Commission’s case against a Silicon Valley insider trading ring whose members generated nearly $1.7 million in illegal […]
SEC Charges California Company and Promoters Engaged in Pump-And-Dump Scheme Involving Covid-19 Claims
(HedgeCo.Net) The Securities and Exchange Commission has charged California-based Global Wholehealth Partners Corp., its CEO, and four penny stock promoters with conducting a $1.95 million fraudulent pump-and-dump scheme through a series of false and misleading statements in press releases and […]
Infinity Q Founder Charged with Orchestrating Massive Valuation Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged James Velissaris, the former Chief Investment Officer and founder of Infinity Q Capital Management, with overvaluing assets by more than $1 billion while pocketing tens of millions of dollars in fees. The […]
12 Additional Investment Advisers and Broker-Dealers Charged for Failure to Meet CRS Obligations
(HedgeCo.Net) The Securities and Exchange Commission has announced that six investment advisers and six broker-dealers have agreed to settle charges that they failed to file and deliver client or customer relationship summaries – known as Form CRS – to their […]
BlockFi Agrees to Pay $100 Million in Penalties and Pursue Registration of its Crypto Lending Product
(HedgeCo.Net) The Securities and Exchange Commission has charged BlockFi Lending LLC (BlockFi) with failing to register the offers and sales of its retail crypto lending product. In this first-of-its-kind action, the SEC also charged BlockFi with violating the registration provisions […]
SEC Proposes Rule Amendments to Modernize Beneficial Ownership Reporting
(HedgeCo.Net) The Securities and Exchange Commission has announced that it proposed rule amendments governing beneficial ownership reporting under Exchange Act Sections 13(d) and 13(g). The proposed amendments would update those rules to provide more timely information to meet the needs […]
Robo-Adviser Charged with Misleading Clients
(HedgeCo.Net) The Securities and Exchange Commission has charged New York-based robo-adviser Wahed Invest, LLC with making misleading statements and breaching its fiduciary duty, and for compliance failures related to its Shari’ah advisory business. According to the SEC’s order, from September […]
SEC Charges Social Media Stock Promoter with Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Michael M. Beck, who used the Twitter handle @BigMoneyMike6, with deceiving investors into buying penny stocks that he recommended, even though he secretly planned to sell those stocks and, in some cases, […]
Florida-Based Entities and Individuals Charged with Multi-Million Dollar Futures and Forex Fraud
(HedgeCo.Net) The Commodity Futures Trading Commission has announced that it has filed a civil enforcement action in the U.S. District Court for the Southern District of Florida against The W Trade Group LLC, Larry Ramos Mendoza of Miami, Florida, and Joseph Carvajales also of Miami, […]
SEC Obtains Final Judgment Against Defendants in Stock Research Scheme
(HedgeCo.Net) The U.S. District Court for the Southern District of New York entered a final judgment against defendants Ajay Tandon and Amit Tandon for their involvement in a stock research scheme and for illegal “scalping” in connection with that scheme. […]