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SEC Charges Founder of $1.7 Billion “HyperFund” Crypto Pyramid Scheme and Top Promoter with Fraud
Introduction The Securities and Exchange Commission (SEC) has taken legal action against Xue Lee (aka Sam Lee) and Brenda Chunga (aka Bitcoin Beautee) for their roles in the fraudulent crypto asset pyramid scheme, known as HyperFund, which managed to accumulate over $1.7 billion from investors worldwide. The SEC’s charges shed […]
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Still Think Settling with the SEC is the Right Move?
By: Mark J. Astarita, Esq. In the article linked below, the authors believe that the landscape of SEC enforcement is changing. According to this article, entities and individuals facing SEC actions are winning, or not losing as much. Of course, the examples in the article are purely anecdotal, and there […]
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9 Proven Strategies for Defending an SEC Investigation
Defending an SEC Investigaton Facing an SEC investigation can be a daunting challenge for any individual or organization and defending an SEC investigation takes experience and knowledge. The SEC is a formidable regulatory body with the authority to scrutinize financial activities, and being prepared for such an inquiry is crucial. […]
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SEC 2024 Examination Priorities for Broker-Dealers
The SEC‘s Division of Examinations prioritizes examinations of certain practices, products, and services that it believes present potentially heightened risks to investors or the integrity of the U.S. capital markets. They have announced the 2024 examination priorities. Here is a summary of the Broker-Dealer priorities for 2024. We summarized the […]
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SEC 2024 Examination Priorities for Investment Advisors
The SEC‘s Division of Examinations prioritizes examinations of certain practices, products, and services that it believes present potentially heightened risks to investors or the integrity of the U.S. capital markets. They have announced the 2024 examination priorities. Here is a summary of the INvestment Advisor priorities. Advisors are urged to […]
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SEC Charges Private Equity Firm Prime Group for Inadequate Disclosure of Fees Paid to Affiliate
The SEC has taken action against Prime Group Holdings LLC, a private equity firm specializing in alternative real estate assets. The SEC’s charges revolve around the firm’s failure to provide adequate disclosure concerning substantial real estate brokerage fees paid to an affiliate, owned by Prime Group’s CEO.
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Inside the SEC Whistleblower Office
An insightful look into the workings of the SEC Whistleblower Program. Is it any surprise that Whistleblowers who are represented by securities attorneys might do better presenting tips than those who are represented by non-securities attorneys? A Look Inside the SEC Whistleblower Program Within the SEC, there exists a program […]
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Impact Theory Charged by SEC for Unregistered Offering of Crypto Asset Securities
The Securities and Exchange Commission (SEC) has taken action against Impact Theory, LLC, a prominent media and entertainment company headquartered in Los Angeles. The SEC has charged the company with engaging in an unregistered offering of crypto asset securities through purported non-fungible tokens (NFTs). Impact Theory managed to accumulate approximately […]
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Wells Fargo Settles with SEC for Charging Excessive Advisory Fees
The SEC has taken action against Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (collectively referred to as Wells Fargo). The SEC has charged Wells Fargo for the excessive charging of over 10,900 investment advisory accounts, resulting in more than $26.8 million in undue advisory fees. […]
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Misleading Advertising and Compliance Failures: SEC Charges Titan Global Capital Management
The SEC has taken action against Titan Global Capital Management USA LLC, a FinTech investment adviser based in New York. The charges revolve around the company’s use of misleading hypothetical performance metrics in its advertisements. Additionally, Titan has been accused of multiple compliance failures that led to distorted disclosures concerning […]
Recent Posts
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Genesis Agrees to Pay $21 Million Penalty to Settle SEC Charges
March 20, 2024Genesis Global Capital Fined $21 Million for Unregistered Crypto Lending Genesis Global Capital, LLC has been hit with a hefty [...] -
SEC Charges Founder of American Bitcoin Academy Online Crypto Course with Fraud Targeting Students
February 2, 2024The Securities and Exchange Commission (SEC) has stepped forward to address a notable issue. This situation serves as a stark [...] -
SEC Halts Utah-Based Crypto Asset Fraud Scheme Involving 18 Defendants
September 4, 2023The SEC has secured temporary asset freezing, restraining orders, and other emergency measures against Digital Licensing Inc., [...]
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FINRA Broker Check
February 11, 2024Understanding What is a Security?
January 6, 2024A security is a form of ownership in an entity. While some believe that in order to be a security the instrument must be traded [...]9 Proven Strategies for Defending an SEC Investigation
November 26, 2023Defending an SEC Investigaton Facing an SEC investigation can be a daunting challenge for any individual or organization and [...]Arbitration
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SEC Investor Advocate’s Recommendations on Arbitration and Index-Linked Annuities
December 5, 2023Washington D.C., Dec. 5, 2023 — In a move towards transparency and investor empowerment, the Securities and Exchange [...] -
Arbitration Claims Filed Against Stifel Broker Chuck Roberts
August 1, 2023A veteran financial advisor with Stifel Nicolaus & Co. Inc. is facing a rash of investor complaints stemming from the sale of [...] -
What Does a Securities Lawyer Do?
March 16, 2023Mark J. Astarita, Esq. is a nationally recognized securities attorney, representing clients in securities investigations, [...]
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Featured Articles
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Understanding What is a Security?
January 6, 2024A security is a form of ownership in an entity. While some believe that in order to be a security the instrument must be traded [...] -
9 Proven Strategies for Defending an SEC Investigation
November 26, 2023Defending an SEC Investigaton Facing an SEC investigation can be a daunting challenge for any individual or organization and [...] -
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