The Securities and Exchange Commission today announced an emergency action including a temporary restraining order and asset freeze to stop an alleged fraudulent offering of securities and misappropriation of investor assets by Outdoor Capital Partners… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]
Other News
YJ Fischer to Join SEC as Director of the Office of International Affairs
The Securities and Exchange Commission today announced the appointment of YJ Fischer as Director of the Office of International Affairs (OIA), effective Aug. 2. Ms. Fischer previously served in various roles at the U.S. State Department during the… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
SEC Charges Retailer and Former CEO for Accounting, Reporting, and Control Failures
The Securities and Exchange Commission today announced that Fort Worth, Texas, specialty retailer Tandy Leather Factory Inc. and its former chief executive officer Shannon Greene have agreed to settle charges for accounting, reporting, and control… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]
SEC Awards Nearly $3 Million to Whistleblower
The Securities and Exchange Commission today announced an award of nearly $3 million to a whistleblower whose information and assistance led to a successful SEC enforcement action. “The whistleblower alerted the SEC to previously unknown conduct and then provided substantial additional assistance, which conserved a considerable amount of SEC resources,” […]
SEC Charges Portfolio Manager with Using Forged Document to Offer Securities
Securities and Exchange Commission v. Thomas Nicholas Salzano, 2:21-cv-12189 (D.N.J. filed June 7, 2021) The Securities and Exchange Commission charged Thomas Nicholas Salzano, of Secaucus, New Jersey, with using a sham loan document containing a forged signature in a fraudulent attempt to entice a $150,000 investment in a real estate […]
SEC Obtains $7 Million Judgment and Bar for CEO and Board Chairman
Securities and Exchange Commission v. Suneet Singal, First Capital Real Estate Investments, LLC, First Capital Real Estate Advisors LP, and First Capital Real Estate Trust Inc., No. 19-cv-11452 (S.D.N.Y. filed December 13, 2019) On July 13, 2021, the United States District Court for the Southern District of New York entered […]
UBS Settles Charges Related to Investments in Complex Exchange-Traded Product
The Securities and Exchange Commission today filed a settled action against UBS Financial Services Inc. for compliance failures relating to sales of a volatility linked exchange-traded product (ETP). This is the sixth matter arising from the Enforcement Division’s ETP Initiative. As described in the SEC’s order, the ETP at issue […]
Amazon Ends Mandatory Arbitration – Consumer Benefit?
By now every Amazon customer is aware that Amazon has changed its terms of service to remove the pre-dispute arbitration agreement. Many consumer advocates are praising the move, but have they really analyzed the change? I have represented parties in over 600 securities arbitrations, and a handful of commercial arbitrations. […]
Computer Guru Gets SEC Asset Freeze
The SEC has very strong enforcement power over those who it believes violated, or are violating, the federal securities laws. Brent Kovar, who has had prior run-ins with the securities law, and his mom, were the subject of an emergency action, a temporary restraining order and asset freeze to halt […]
SEC Files Charges in Multi-Million Dollar Fraud Involving Two Companies
The Securities and Exchange Commission today announced charges against Aron Govil of Jacksonville, Florida, for defrauding investors in two companies he controlled, Cemtrex Inc. and Telidyne Inc. According to the SEC’s complaint, filed… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at […]
