From our friends at New Edge Wealth.. There’s No Place Like the U.S. Housing Market
Author: Mark J. Astarita
SEC Issues Awards Totaling $98 Million to Two Whistleblowers
The SEC’s Landmark Whistleblower Awards The Securities and Exchange Commission (SEC) recently made headlines by awarding over $98 million to two whistleblowers whose information and cooperation led to significant enforcement actions. These payouts demonstrate whistleblowers’ crucial role in upholding financial markets’ integrity. Whistleblower Information Sparks Major Investigations The SEC’s investigations […]
SEC Approves New and Updated PCAOB Audit Standards and an Amendment to the PCAOB’s Contributory Liability Rule
SEC Approves PCAOB Proposals for Updated Audit Standards On August 20, 2024, the Securities and Exchange Commission (SEC) approved two proposals from the Public Company Accounting Oversight Board (PCAOB) that update audit standards. These proposals focus on the general responsibilities of auditors and the use of technology-assisted analysis in conducting […]
SEC Charges Agent Equiniti Trust Co. with Failing to Protect Client Funds Against Cyber Intrusions
Protecting Client Securities and Funds in the Digital Age The Securities and Exchange Commission (SEC) has settled charges against Equiniti Trust Company LLC, formerly known as American Stock Transfer & Trust Company LLC, for failing to safeguard client securities and funds against theft or misuse. This negligence led to a […]
SEC Charges NovaTech and its Principals and Promoters with $650 Million Crypto Fraud
SEC Charges Multi-Level Marketing Company and Promoters with Fraudulent Scheme The Securities and Exchange Commission (SEC) has announced charges against NovaTech Ltd., a multi-level marketing company, and its promoters for operating a fraudulent scheme that raised over $650 million in crypto assets from more than 200,000 investors worldwide. Alleged Fraudulent […]
SEC Charges OTC Link LLC with Failing to File Suspicious Activity Reports
The SEC has announced charges against OTC Link LLC, a New York-based broker-dealer, for failing to file Suspicious Activity Reports (SARs) for over three years. OTC Link has agreed to pay a $1.19 million penalty to settle the charges. Background Broker-dealers like OTC Link are required to file […]
SEC Charges Founder of Social Media Company “IRL” with $170 Million Fraud
SEC Charges Abraham Shafi with Fraudulent Activities at Get Together Inc. The SEC’s Allegations Against Abraham Shafi The SEC has charged Abraham Shafi, the founder and former CEO of Get Together Inc., a social media startup known as “IRL.” Shafi is accused of defrauding investors by making false and misleading […]
SEC Charges Nader Al-Naji with Fraud and Unregistered Offering of Crypto Asset Securities
Unveiling the Allegations: Fraudulent Crypto Scheme The Securities and Exchange Commission (SEC) has charged Nader Al-Naji with orchestrating a multi-million-dollar fraudulent crypto asset scheme involving a social media platform named BitClout and its native token, BTCLT. Raising Funds Through Deception Starting in November 2020, Al-Naji raised over $257 million through […]
SEC Awards Whistleblower More Than $37 Million
The Securities and Exchange Commission today announced an award of more than $37 million to a whistleblower whose information and assistance led to a successful SEC enforcement action. The whistleblower persisted in reporting the misconduct internally,… SEC Press Release
SEC Charges Virginia Engineer with Orchestrating $30 Million Offering Fraud
The Securities and Exchange Commission today charged Babu Ramaraj, a resident of Aldie, Virginia, with defrauding more than 70 investors of approximately $31 million through his company, DAB Inspection and Consulting Services LLC. The SEC’s complaint… SEC Press Release
