Category Archives: Insider Trading
SEC Obtains Judgment Against Former Registered Investment Adviser for Defrauding Retail Investors
(HedgeCo.Net) The U.S. District Court for the Southern District of Ohio has entered a final judgment against Scott Allen Fries, a former Ohio-based registered representative and investment adviser representative at a large, SEC-registered broker-dealer and investment adviser, for defrauding at […]
Texas School District and its Former CFO Charged with Fraud in $20 Million Bond Sale
(HedgeCo.Net) The Securities and Exchange Commission has charged Crosby Independent School District (Crosby ISD) and its former Chief Financial Officer, Carla Merka, with misleading investors in the sale of $20 million of municipal bonds in order to pay its outstanding […]
SEC Charges Call Center Operators in $58 Million Penny Stock Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced fraud charges against five individuals for allegedly operating a call center in Medellin, Colombia, which used high pressure sales tactics and made false and misleading statements to retail investors to convince them […]
SEC Proposes Rules on Cybersecurity Risk Management, Strategy, and Incident Disclosure by Public Companies
(HedgeCo.Net) The Securities and Exchange Commission is proposing new amendments to its rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies. “Over the years, our disclosure regime has evolved to reflect […]
Siblings Charged in $124 Million Crypto Fraud Operation that included Misleading Roadshows, YouTube Videos
(HedgeCo.Net) The Securities and Exchange Commission has charged siblings John and JonAtina (Tina) Barksdale with defrauding thousands of retail investors out of more than $124 million through two unregistered fraudulent offerings of securities involving a digital token called “Ormeus Coin.” […]
RIA City National Rochdale to Pay More Than $30 Million for Undisclosed Conflicts of Interest
(HedgeCo.Net) The Securities and Exchange Commission has announced that registered investment adviser City National Rochdale, LLC (CNR) has agreed to pay more than $30 million to settle charges that its undisclosed conflicts of interest defrauded current and prospective clients. The […]
Investment Adviser and Its Principal Charged with Conducting a Fraudulent “Cherry-Picking” Scheme
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against Rehoboth Beach, Delaware-based Bell Rock Capital, LLC, and its principal, M. Cassandra Toroian, for operating a multi-year cherry-picking scheme that defrauded Bell Rock clients. The SEC’s complaint alleges that from […]
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 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 […]