Category Archives: Insider Trading
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 […]
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 […]
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 […]
18 Defendants Charged in International Scheme to Manipulate Stocks Using Hacked US Brokerage Accounts
(HedgeCo.Net) The Securities and Exchange Commission has charged 18 individuals and entities for their roles in a fraudulent scheme in which dozens of online retail brokerage accounts were hacked and improperly used to purchase microcap stocks to manipulate the price […]
SEC Charges Broker-Dealer and Two Employees with Engaging in Unauthorized Securities Transactions
(HedgeCo.Net) The Securities and Exchange Commission has charged broker-dealer Alpine Securities Corporation, its former Chief Executive Officer Christopher Doubek, and its current Chief Operations Officer Joseph Walsh with engaging in a series of unauthorized securities transactions. According to the SEC’s […]
Angel Oak Capital Advisors Charged with Misleading Investors in $90 Million Fix-and-Flip Securitization
(HedgeCo.Net) The Securities and Exchange Commission has charged Atlanta-based Angel Oak Capital Advisors, LLC and its portfolio manager Ashish Negandhi for misleading investors about the firm’s fix-and-flip loan securitization’s delinquency rates. Angel Oak and Negandhi have agreed to settle charges […]
SEC Awards More Than $16 Million to Two Whistleblowers
(HedgeCo.Net) The Securities and Exchange Commission has awarded $16 million to two whistleblowers who provided information and assistance in a successful SEC enforcement action. The first whistleblower prompted the opening of the investigation and provided information on difficult-to-detect violations. […]