Category Archives: HedgeCoVest News
Fraud Charges Filed against Investment Advisers in Multi-Million Dollar Scheme Targeting Retirement Accounts
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multi-million dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. According to the […]
Remediation Helps Tech Company Avoid Penalties
(HedgeCo.Net) The Securities and Exchange Commission today announced settled fraud charges without a penalty against HeadSpin, Inc., a private technology company that made significant remedial efforts in the wake of an internal investigation into misconduct by its now former CEO. […]
SEC Reopens Comment Period for Pay Versus Performance
(HedgeCo.Net) The Securities and Exchange Commission is reopening the comment period on proposed rules under the Dodd-Frank Act requiring disclosure of information reflecting the relationship between executive compensation actually paid by a company and the company’s financial performance. “If adopted, […]
SEC Proposes Amendments to Enhance Private Fund Reporting
(HedgeCo.Net) The Securities and Exchange Commission has approved amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. The proposed amendments are designed to enhance the Financial Stability Oversight Council’s (FSOC) ability to assess […]
SEC Obtains Final Judgment Against Promoter Charged in a Fraudulent Pyramid Scheme.
(HedgeCo.Net) The U.S. District Court for the Eastern District of New York has entered a final judgment against defendant Heidi Mao in a previously filed civil action that charged Mao with promoting investments in a fraudulent pyramid scheme. The SEC’s […]
Former Financial Advisor Charged with Stealing $5.8 Million from Client
(HedgeCo.Net) The Securities and Exchange Commission has charged German Nino, a former securities broker and investment adviser representative for UBS Financial Services Inc., with stealing $5.8 million from a long-standing client. The SEC’s complaint alleges that Nino, of Weston, Florida, […]
Colorado Man Charged with Fraud Related to Cryptocurrency Venture
(HedgeCo.Net) The Securities and Exchange Commission today charged Paul A. Garcia of Severance, Colorado, for allegedly defrauding investors by stealing approximately one quarter of investor funds raised for Gold Hawgs Development Corp. (“Gold Hawgs”), a failed cryptocurrency venture. According to […]
SEC Wins Judgment in $2.2m Prime Bank Investment Scheme
(HedgeCo.Net) A federal court entered a final judgment against Peter Baker of Lawrenceville, Georgia, Elizabeth Oharriz of Miami Shores, Florida, and their companies for orchestrating a prime bank investment scheme and stealing over $2.2 million from investors. According to the […]
SEC Charges Colorado Man with Fraud Related to Cryptocurrency Venture
(HedgeCo.Net) The Securities and Exchange Commission has charged Paul A. Garcia of Severance, Colorado, for allegedly defrauding investors by stealing approximately one quarter of investor funds raised for Gold Hawgs Development Corp. (“Gold Hawgs”), a failed cryptocurrency venture. According to […]
SEC Charges South Florida Man with Fraudulent Operation of Private Fund
(HedgeCo.Net) Judge Donald M. Middlebrooks of the United States District Court for the Southern District of Florida has entered a judgment permanently enjoining Florida resident Anthony M. Cottone from violations of the antifraud and other provisions of the federal securities […]
SEC Charges ICO Issuer and Founder with Defrauding Investors
(HedgeCo.Net) The Securities and Exchange Commission yesterday announced charges against Australian citizen Craig Sproule and two companies he founded, Crowd Machine, Inc. and Metavine, Inc., for making materially false and misleading statements in connection with an unregistered offer and sale […]
SEC Obtains Judgment Against Investment Adviser Charged with Defrauding Clients
(HedgeCo.Net) The United States District Court for the Western District of Wisconsin has entered a partial judgment against defendant Michael F. Shillin in a previously filed civil action that charged Shillin with defrauding at least 100 advisory clients. According to […]