Category Archives: HedgeCoVest News
San Diego-Based Companies and Their Principal Charged with Operating $15 Million Ponzi Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Fusion Hotel Management, LLC, Fusion Hospitality Corporation, and their founder, Denny T. Bhakta of San Diego, California for fraudulently raising at least $15 million from more than 40 retail investors. […]
Wedbush Securities Charged with Unregistered Sales of Microcap Securities and Failing to Report Suspicious Transactions
(HedgeCo.Net) The Securities and Exchange Commission has announced that Wedbush Securities Inc., a California-based broker-dealer, has agreed to pay more than $1.2 million to settle charges arising from the unlawful unregistered distribution of nearly 100 million shares of more than […]
CFTC Charges Puerto Rico Resident and His Firm for Misappropriation of Nonpublic Information and Fictitious Trading
(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 Texas against Peter Miller, a resident of San Juan, Puerto Rico, and his firm […]
SEC Charges CFO and Former Partner with Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has charged the former Chief Financial Officer of pharmaceutical company Immunomedics, Inc. and his former romantic partner with insider trading in the company’s stock. According to the SEC’s complaint, while serving as CFO of […]
SEC Charges Three Canadian Citizens in Fraudulent Penny Stock Scheme
(Hedgeco.Net) The Securities and Exchange Commission has announced it charged three Canadian citizens with carrying out a fraudulent scheme involving penny stocks which generated tens of millions of dollars in proceeds but left investors with nearly worthless shares of various […]
SEC Obtains Judgments Against Bitconnect’s Promoter and Company for Antifraud Violations
(HedgeCo.Net) The United States District Court for the Southern District of New York has entered judgments against Glenn Arcaro and his company, Future Money Ltd., for the promotion of the BitConnect “lending program.” Arcaro previously pleaded guilty to Conspiracy to […]
SEC Obtains Default Judgment Against Recidivist Securities Fraudster
(HedgeCo.Net) The United States District Court for the Southern District of New York has entered a default judgment against Shamoon Omer Rafiq, a Dutch citizen residing in Singapore who was previously charged by the SEC with defrauding investors by offering […]
SEC Issues Whistleblower Nearly $5 Million Award
(HedgeCo.net) The Securities and Exchange Commission (SEC) has awarded nearly $5 million to a whistleblower who provided critical information and assistance that led to the success of a covered action. The whistleblower’s information helped the SEC to more quickly and […]
SEC Charges Two in Fraudulent Microcap Scheme
(HedgeCo.Net) The Securities and Exchange Commission charged two individuals for their participation in alleged fraudulent schemes involving unlawful microcap stock sales at the expense of unsuspecting retail investors. The SEC’s complaint alleges that, from 2016 through at least October 2020, […]
SEC Obtains Judgment Against Investment Professional Charged with IIIegal Trading Scheme
(HedgeCo.Net) The U.S. District Court for the Northern District of Texas entered a final judgment by consent against Guillaume David Boccara, a Dallas, Texas investment professional. The SEC had recently charged Boccara with engaging in a deceptive trading scheme in […]
SEC Charges Pharma CFO and Former Partner with Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has charged the former Chief Financial Officer of pharmaceutical company Immunomedics, Inc. and his former romantic partner with insider trading in the company’s stock. According to the SEC’s complaint, while serving as CFO of […]
SEC Charges Swiss Trader in Two International Insider Trading Schemes
(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against Marc Demane Debih, a Swiss national, who generated at least $49 million in illicit profits in connection with his active participation in two multi-year insider trading schemes. The […]