Category Archives: Insider Trading
BlockFi Agrees to Pay $100 Million in Penalties and Pursue Registration of its Crypto Lending Product
(HedgeCo.Net) The Securities and Exchange Commission has charged BlockFi Lending LLC (BlockFi) with failing to register the offers and sales of its retail crypto lending product. In this first-of-its-kind action, the SEC also charged BlockFi with violating the registration provisions […]
SEC Proposes Rule Amendments to Modernize Beneficial Ownership Reporting
(HedgeCo.Net) The Securities and Exchange Commission has announced that it proposed rule amendments governing beneficial ownership reporting under Exchange Act Sections 13(d) and 13(g). The proposed amendments would update those rules to provide more timely information to meet the needs […]
SEC Charges Social Media Stock Promoter with Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Michael M. Beck, who used the Twitter handle @BigMoneyMike6, with deceiving investors into buying penny stocks that he recommended, even though he secretly planned to sell those stocks and, in some cases, […]
Florida-Based Entities and Individuals Charged with Multi-Million Dollar Futures and Forex Fraud
(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 Florida against The W Trade Group LLC, Larry Ramos Mendoza of Miami, Florida, and Joseph Carvajales also of Miami, […]
SEC Obtains Final Judgment Against Defendants in Stock Research Scheme
(HedgeCo.Net) The U.S. District Court for the Southern District of New York entered a final judgment against defendants Ajay Tandon and Amit Tandon for their involvement in a stock research scheme and for illegal “scalping” in connection with that scheme. […]
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 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 […]