Category Archives: Insider Trading
Five Defendants in a Microcap Fraud Scheme Attempting to Capitalize On the Covid-19 Pandemic Ordered to Pay Over $12 Million
(HedgeCo.Net) The U.S. District Court for the District of Massachusetts entered final judgments against FFS Capital Limited, Paifang Trading Limited, Artefactor Limited, Meadow Asia Limited, and Thyme International Limited. Among other things, the judgments order these entities to pay a […]
General Electric Agrees to Pay $200 Million Penalty for Disclosure Violations
(HedgeCo.Net) The Securities and Exchange Commission today announced that General Electric Co. (GE) has agreed to pay a $200 million penalty to settle charges for disclosure failures in its power and insurance businesses. In 2017 and 2018, GE’s stock price […]
BlueCrest to Pay $170 Million to Harmed Fund Investors
(HedgeCo.Net) The Securities and Exchange Commission has announced that UK-based investment adviser BlueCrest Capital Management Limited has agreed to pay $170 million to settle charges arising from inadequate disclosures, material misstatements, and misleading omissions concerning its transfer of top traders […]
Unregistered Investment Adviser Charged With Defrauding Puerto Rico Municipality
(HedgeCo.Net) The Securities and Exchange Commission has charged an unregistered investment adviser based in Orlando, Florida for defrauding the Municipality of Mayagüez, Puerto Rico and misappropriating $7.1 million of taxpayer funds. According to the SEC’s complaint, in 2016, Eugenio Garcia […]
Disbarred New York Attorney and Florida Attorney Charged with Scheme to Create False Opinion Letters
(HedgeCo.Net) The Securities and Exchange Commission has charged disbarred attorney, Richard J. Rubin, and licensed attorney, Thomas J. Craft, with fraud for their roles in a legal opinion letter scheme to fraudulently facilitate the sale of millions of shares of […]
Boiler Rooms Operator Charged with Defrauding Retail Investors
(HedgeCo.Net) The SEC today charged New York resident Mark Alan Lisser with fraud for operating at least two boiler rooms, on Long Island, New York and in Boca Raton, Florida, through which he raised approximately $2.1 million from at least […]
Final Judgment Handed Down Against North Carolina Investment Adviser
(HedgeCo.Net) The U.S. District Court for the Western District of North Carolina entered a final judgment as to monetary relief against Richard W. Davis, whom the SEC previously charged in connection with a scheme to defraud advisory clients and misappropriate […]
Three Traders Settle Fraud Charges in Edgar Hacking Case
(HedgeCo.Net) The Securities and Exchange Commission has announced settlements with Sungjin Cho, Ivan Olefir, and Capyield Systems, Ltd., an entity controlled by Olefir, who were charged with trading on nonpublic corporate earnings information hacked from the SEC’s EDGAR system. According […]
Federal Court Orders Colorado Company and its Principal to Pay Over $900,000 for Digital Asset and Forex Ponzi Scheme
(HedgeCo.Net) The Commodity Futures Trading Commission has announced that the U.S. District Court for the District of Colorado entered a judgment against defendants Venture Capital Investments LLC (VCI) and its principal and manager Breonna Clark d/b/a Eliot Clark d/b/a Alexander Pak […]
SEC Charges Goldman Sachs With FCPA Violations
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against The Goldman Sachs Group Inc. for violations of the Foreign Corrupt Practices Act (FCPA) in connection with the 1Malaysia Development Berhad (1MDB) bribe scheme, and as part of coordinated resolutions, […]
Amazon Finance Manager and Family Allegedly made $1.4 Million With Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has charged a former finance manager at Amazon.com Inc. and two family members with insider trading in advance of Amazon earnings announcements between January 2016 and July 2018. According to the SEC’s complaint, Laksha Bohra […]
Mobile TeleSystems Settles FCPA Violations
(HedgeCo.Net) Russian telecommunications provider Mobile TeleSystems PJSC (MTS) will pay $100 million to resolve SEC charges that it violated the Foreign Corrupt Practices Act (FCPA) to win business in Uzbekistan. According to the SEC’s order, MTS bribed an Uzbek official […]