Category Archives: Insider Trading
SEC Awards $22 Million to Two Whistleblowers
(HedgeCo.Net) The Securities and Exchange Commission today announced awards totaling approximately $22 million to two whistleblowers whose information and assistance were of crucial importance to successful SEC enforcement actions brought against a financial services firm. The first whistleblower received an […]
Court Enters Judgments Against Promoters in Pump-And-Dump Scheme
(HedgeCo.Net) The U.S. District Court for the Central District of California has entered final judgments against the remaining three defendants in a 2019 SEC action charging them for their alleged roles in a pump-and-dump scheme in the stock of southern […]
Texan Charged with Defrauding Investors out of $17-Million
(HedgeCo.Net) The Securities and Exchange Commission has charged a North Texas resident with defrauding more than 50 investors out of more than $17 million dollars. The SEC’s complaint alleges that Richard Randall and his recently deceased associate engaged in a […]
Consultant and Board Member Charged with Insider Trading.
(HedgeCo.Net) The U.S. District Court for the District of Massachusetts has Entered a Partial Judgment in a Previously-Filed SEC Case Charging Oregon Resident Mark Ahn with Engaging in Insider Trading in the Securities of a Massachusetts-Based Pharmaceutical Company, Dimension Therapeutics, […]
Online Tutoring Company and Its CEO Charged with Fraud
(Hedgeco.Net) The Securities and Exchange Commission today charged Students of Strength, Inc., which operated in Massachusetts and Texas, and its CEO, Rahsaan King, with raising money by making false and misleading statements to investors. King and his company have offered […]
Previously-Barred Broker Charged with Defrauding Investors in a Pre-IPO Investment Scheme
(HedgeCo.Net) According to the SEC’s complaint, in the summer of 2019, Peter R. Quartararo of Hicksville, New York, a former broker who had previously been barred by FINRA, began soliciting investors to invest through him in shares of several “unicorn” […]
Florida Company and CEO Charged with Operating a Ponzi Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced that it filed an emergency action and obtained a temporary restraining order and an asset freeze to stop an alleged Ponzi scheme and misappropriation of investor proceeds perpetrated by Melbourne, Florida resident […]
Fund Manager and Former Race Car Team Owner Charged with Multimillion Dollar Fraud
(HedgeCo.Net) The Securities and Exchange Commission charged Andrew T. Franzone, former owner of a race car team, and investment adviser FF Fund Management, LLC (“FFM”) with fraudulently raising and misappropriating tens of millions of dollars from the sale of limited […]
Final Judgement Against Connecticut Investment Adviser Who Misappropriated Funds from Clients
(HedgeCo.Net) The Securities and Exchange Commission has announced the entry of a final judgment against former Connecticut investment adviser Lester Burroughs. The SEC’s complaint, filed on December 4, 2019, alleged that Burroughs engaged in a scheme to defraud retail investors […]
Trading Platform and Two Top Controlling Executives Charged with $100 Million Fraud.
(HedgeCo.Net) The Securities and Exchange Commission charged Israeli-based Spot Tech House, Ltd., formerly known as Spot Option, Ltd., and two of its former top executives, Malhaz Pinhas Patarkazishvili (also known as Pini Peter) and Ran Amiran, with deceiving U.S. investors […]
Co-Founders of San Francisco Biotech Company Charged With $60 Million Fraud
(HedgeCo.Net) The Securities and Exchange Commission today charged Jessica Richman and Zachary Apte, co-founders of uBiome Inc., a San Francisco-based private medical testing company, with defrauding investors out of $60 million by falsely portraying uBiome as a successful start-up with a […]
SEC Halts Alleged Ongoing Offering Fraud Involving Digital Asset Trading Fund
(HedgeCo.Net) The Securities and Exchange Commission has announced that it filed an emergency action and obtained a temporary restraining order and asset freeze against Shawn C. Cutting of Sandpoint, Idaho, for allegedly raising millions of dollars from hundreds of investors […]