Category Archives: Insider Trading
Court Enters Judgments Against Investment Adviser Firm and Owner for Undisclosed Compensation Practices
(HedgeCo.Net) A federal district court in Connecticut has entered final judgments against investment adviser Westport Capital Markets, LLC and its sole owner, Christopher E. McClure. The judgments order that Westport Capital and McClure are jointly and severally liable for disgorgement […]
Hedge Fund Trader Charged in Alleged Lucrative Front-Running Scheme
(HedgeCo.Net) The Securities and Exchange Commission has filed fraud charges against Sean Wygovsky, a trader at a major Canada-based asset management firm, in connection with a long-running and lucrative front-running scheme that Wygovsky perpetrated in the accounts of his close […]
Self-Proclaimed “Dealmaker” Charged With Multiple Frauds and Misappropriation of Investor Funds
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Matthew J. Skinner of Santa Clarita, California, and five entities he owns and controls – Empire West Equity Inc., Bayside Equity LP, Longacre Estates LP, Freedom Equity Fund LLC, and […]
Electronic Trading Platform Charged for Operating As An Unregistered Broker-Dealer
(HedgeCo.Net) The Securities and Exchange Commission today announced that Neovest Inc., a provider of an order and execution management system (OEMS) that facilitates electronic trading, has agreed to pay a $2.75 million penalty for its failure to register as a […]
Six Charged in Silicon Valley Insider Trading Ring
(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against a Silicon Valley trading ring, whose members generated nearly $1.7 million in profits and losses avoided by trading on the confidential earnings information of two local technology companies. […]
Fund Manager, Consumer Credit Company, and Three Individuals Charged with Fraudulently Raising Over $73 Million
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Princeton Alternative Funding LLC (PAF), Microbilt Corporation, Philip N. Burgess, Jr., Microbilt CEO Walter Wojciechowski, and PAF CEO John Cook, Jr. for fraudulently raising over $73 million from investors through […]
SEC Obtains Asset Freeze Against Offshore Fund and Its Operators
(HedgeCo.Net) The Securities and Exchange Commission has filed an emergency action charging an offshore fund and two individuals with engaging in a fraudulent scheme, and obtained an asset freeze to safeguard remaining investor funds at risk of immediate dissipation. The […]
SEC Charges Additional Defendants in $30 Million ICO Fraud
(HedgeCo.Net) The Securities and Exchange Commission charged three additional individuals for their roles in the $30 million initial coin offering (“ICO”) fraud that was spearheaded by convicted criminal Boaz Manor and his associate, Edith Pardo. The SEC previously charged Manor, […]
SEC Charges Investment Advisers With Cherry-Picking, Obtains Asset Freeze
(HedgeCo.Net) The Securities and Exchange Commission today announced that it has obtained an asset freeze and other emergency relief, and filed fraud charges, against a Miami-based investment professional and two investment firms for engaging in an alleged “cherry-picking” scheme in […]
SEC Unveils List of Firms Using Inaccurate Information to Solicit Investors
(HedgeCo.Net) The Securities and Exchange Commission has announced it’s updated list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 55 soliciting entities, four (4) impersonators of genuine firms, and five (5) bogus regulators. The SEC’s […]
Fraudster Sentenced to More Than Five Years in Criminal Case
(HedgeCo.Net) Edward E. Matthes, who was charged by the SEC in January 2020 with defrauding his mostly elderly retail brokerage customers and investment advisory clients, has been sentenced in a parallel criminal case to 63 months in prison and ordered […]
Court Enters Partial Judgment Against Investment Adviser Charged with Stealing Client Funds
(HedgeCo.Net) The United States District Court for the District of Connecticut entered a partial judgment against Matthew O. Clason on June 3, 2021 in a previously-filed SEC case that charged Clason, a Connecticut-based investment adviser, with stealing hundreds of thousands […]