Category Archives: HedgeCoVest News
SEC Obtains Emergency Relief in Case Charging Claims Aggregator and Principals with Multi-Million Dollar Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged a New Jersey “claims aggregator” – a firm that submits claims on behalf of its clients to administrators tasked with returning settlement funds to harmed investors – and its three principals with […]
SEC Charges Recidivist and Barred Investment Adviser and His Firm
(HedgeCo.Net) The Securities and Exchange Commission has charged a New Jersey-based individual with stealing money from investment advisory clients, and doing so while he was subject to a prior SEC order barring him from being in the investment advisory business. […]
SEC Charges Newport Beach Company and its Principals with Operating a $13.5 Million Ponzi-Like Scheme
(HedgeCo/Net) The Securities and Exchange Commission today announced that it has charged BNZ, a Newport Beach, California-based company, and its co-founders and co-managers Brett Barber and Louis Zimmerle, for fraudulently raising $13.5 million from more than 100 retail investors. According […]
SEC Obtains Asset Freeze in Halting Penny Stock Scheme on Twitter
(HedgeCo.Net) The Securities and Exchange Commission has announced that it filed an emergency action, and obtained an injunction and asset freeze, against Steven M. Gallagher for allegedly committing securities fraud through a long running scheme to manipulate stocks using Twitter. […]
Final Judgment Against Investment Professional Charged with Misappropriating Client Funds
(HedgeCo.Net) The Securities and Exchange Commission obtained a final judgment against defendant Marcus Boggs, whom the SEC previously charged with stealing more than $1.7 million from at least three of his investment advisory clients. The SEC’s complaint was filed on […]
Long Island Investment Professional Charged with Defrauding Investors
(HedgeCo.Net) The United States District Court for the Eastern District of New York has entered a final judgment against Steven Pagartanis, an East Setauket, New York resident whom the SEC alleged defrauded investors. The SEC’s complaint, filed May 30, 2018, […]
SEC Charges Former CEO and CFO with Multimillion Dollar Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Robert Bernardi, founder and former CEO of GigaMedia Access Corporation (Giga), Nihat Cardak, former CFO of Giga, and Sunil Chandra, Giga’s former VP of Business Development, with fraudulently raising tens of millions […]
Credit Suisse to Pay Nearly $475 Million to U.S. Authorities to Resolve Charges in Connection with Mozambican Bond Offerings
(HedgeCo.Net) Credit Suisse Group AG has agreed to pay nearly $475 million to U.S. and U.K authorities, including nearly $100 million to the Securities and Exchange Commission, for fraudulently misleading investors and violating the Foreign Corrupt Practices Act (FCPA) in […]
SEC Releases Report on Equity and Options Market Structure Conditions in Early 2021
(HedgeCo.Net) The Securities and Exchange Commission has published a Staff Report on Equity and Options Market Structure Conditions in Early 2021, which focuses on the January 2021 trading activity of GameStop Corp (GME), the most famous of the “meme stocks.” Because the […]
SEC Awards $40 Million to Two Whistleblowers
(HedgeCo.Net) The Securities and Exchange Commission has announced awards of approximately $40 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action. The first whistleblower, whose information caused the opening of the investigation […]
CFTC Orders Cargill to Pay $750,000 for Swap Reporting Failures and Failure to Supervise
(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against Cargill Inc., a provisionally registered swap dealer doing business through its Cargill Risk Management business unit, for failing to comply with its reporting obligations […]
CFTC Charges North Carolina Companies and Their Owners in $1 Million Foreign Currency Fraud and Misappropriation Scheme
(HedgeCo.Net) The Commodity Futures Trading Commission announced today that it filed a civil enforcement action in the U.S. District Court for the Western District of North Carolina, charging defendants Storm Bryant and Elijah Bryant, III of Los Angeles, California and […]