Category Archives: Insider Trading
SEC Announces Its Largest-Ever Whistleblower Awards
(HedgeCo.Com) The Securities and Exchange Commission has announced its highest-ever Dodd-Frank whistleblower awards, with two whistleblowers sharing a nearly $50 million award and a third whistleblower receiving more than $33 million. The previous high was a $30 million award in […]
Broker Charged With Repeatedly Putting Customer Assets At Risk
(HedgeCo.Net) The Securities and Exchange Commission has announced that Electronic Transaction Clearing (ETC), a registered broker-dealer headquartered in Los Angeles, has agreed to settle charges that it illegally placed more than $25 million of customers’ securities at risk in order […]
Former Equifax Executive Charged With Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has charged a former chief information officer of a U.S. business unit of Equifax with insider trading in advance of the company’s September 2017 announcement about a massive data breach that exposed the social […]
SEC Foils Stock Executive’s Plan to Pump Stock and Exploit Investors
(HedgeCo.Net) The Securities and Exchange Commission today barred the president of a penny stock company from ever again serving as a public company officer or director after he was caught making false and misleading statements about the company to investors […]
Penny Stock “Mailman” Charged With Scalping Investors In Gold Mining Stocks
(HedgeCo.Net) The Securities and Exchange Commission has charged a penny stock promoter based in Florida with defrauding investors in a pair of gold mining stocks by secretly amassing shares before touting the companies publicly. He allegedly sold the bulk of […]
Investment Adviser Settles Charges for Cheating Clients in Fraudulent Cherry-Picking Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced settled charges against an Austin, Texas-based investment adviser for defrauding his clients through a “cherry-picking” scheme. The adviser, Robert Mark Magee, who is the principal, sole owner, and sole employee of Valor […]
Alleged Unregistered Broker Charged For Illegally Brokering Sales of EB-5 Securities
(Hedgeco.Net) The Securities and Exchange Commission has charged a New York-based company with illegally brokering dozens of investments by foreign nationals seeking U.S. residency. Between April 2014 and March 2017, Edwin Shaw LLC solicited foreign nationals to invest in securities […]
SEC Obtains Bars and Suspensions Against Individuals and Accounting Firm in Shell Factory Scheme
(HedgeCo.Net) The Securities and Exchange Commission today announced charges against three Israeli residents, a Washington, D.C. attorney, and an Israeli auditor and his Maryland-based accounting firm for their roles in a fraudulent scheme in the creation of numerous public shell […]
SEC Suspends Trading in Three Issuers Claiming Involvement in Cryptocurrency and Blockchain Technology
(HedgeCo.Net) The Securities and Exchange Commission has suspended trading in three companies amid questions surrounding similar statements they made about the acquisition of cryptocurrency and blockchain technology-related assets. The SEC’s trading suspension orders state that recent press releases issued by […]
Deutsche Bank to Repay Misled Customers
(HedgeCo.Net) The Securities and Exchange Commission today instituted an enforcement action against Deutsche Bank Securities Inc., which has agreed to repay more than $3.7 million to customers, which includes $1.48 million that was ordered as disgorgement. The SEC’s investigation found […]
SEC Halts Ongoing Fraud by Purported Hedge Fund Manager
(HedgeCo.Net) The Securities and Exchange Commission Friday charged a purported hedge fund manager in New York City with a brazen offering and investment adviser fraud thereby putting an end to an ongoing scheme. The SEC alleges that, since at least […]
Six Accountants Charged with Using Confidential Data to Improve Inspection Results for KPMG
(HedgeCo.Net) The Securities and Exchange Commission today announced charges against six certified public accountants – including former staffers at the Public Company Accounting Oversight Board (PCAOB) and former senior officials at KPMG LLP – arising from their participation in a […]