The Securities and Exchange Commission today announced settled charges against S&P Dow Jones Indices LLC for failures relating to a previously undisclosed quality control feature of one of its volatility-related indices, which led S&P DJI to… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
Tag: SEC Enforcement
SEC Charges Eight Companies for Failure to Disclose Complete Information on Form NT
The SEC charged eight companies for failing to disclose in SEC Form 12b-25 filings that their request for seeking a delayed quarterly or annual reporting filing was caused by an anticipated restatement or correction of prior financial reporting. The violations were uncovered by an initiative focused on Form 12b-25 filings […]
SEC Charges Binary Options Trading Platform and Two Top Executives with Fraud
The SEC has charged Israeli-based Spot Tech House Ltd., formerly known as Spot Option Ltd., and two of its former top executives, Malhaz Pinhas Patarkazishvili (also known as Pini Peter) and Ran Amiran, with deceiving U.S. investors out of more than $100 million through fraudulent and unregistered online sales of […]
SEC Obtains Emergency Asset Freeze, Charges Colorado Resident with Fraud Involving Sham Bottling Company
The Securities and Exchange Commission today announced it filed charges and obtained an asset freeze and other emergency relief to stop an alleged offering fraud and misappropriation of investor assets orchestrated by Colorado Springs resident Tra Jay Scarlett using two entities under Scarlett’s control, Chatfield PCS Ltd. (Chatfield) and GO […]
SEC Charges California-Based Fraudster With Selling “Insider Tips” on the Dark Web
The Securities and Exchange Commission today charged James Roland Jones of Redondo Beach, California, with perpetrating a fraudulent scheme to sell what he called “insider tips” on the dark web. The dark web allows users to access the internet… Read the Full Press Release Have a securities law question? Call […]
Securiteis Fraud Charges in 45 Million Fraudulent Scheme
The Securities and Exchange Commission today charged seven individuals and a technology company in connection with a fraudulent scheme to gain control of Airborne Wireless Network, promote its stock, and defraud investors. According to the SEC‘s complaint, Kalistratos “Kelly” Kabilafkas secretly purchased essentially all the outstanding stock of the shell […]
$119 Million Securities Fraud Targeting South Asian American Community
The Securities and Exchange Commission today announced that it filed an emergency action against California-based real estate development company SiliconSage Builders LLC, aka Silicon Sage Builders, and its sole owner, Sanjeev Acharya, in connection with an alleged $119 million fraudulent offering. According to the SEC’s complaint, Silicon Sage Builders and […]
Biotech Company and CEO Charged With COVID-19 Testing Fraud
photo credit: Tim Reckmann Corona Impfung via photopin (license) The SEC announced charges against California-based biotechnology company Decision Diagnostics Corp. and its CEO, Keith Berman, with making false and misleading claims in numerous press releases that the company had laims in numerous press releases that the company had developed a […]
Luckin Coffee Agrees to Pay $180 Million Penalty to Settle Accounting Fraud Charges
The Securities and Exchange Commission today charged China-based company Luckin Coffee Inc. with defrauding investors by materially misstating the company’s revenue, expenses, and net operating loss in an effort to falsely appear to achieve rapid growth… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
General Electric Agrees to Pay $200 Million Penalty for Disclosure Violations
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 fell by almost 75% as challenges in its power and insurance businesses were disclosed to the public. According to […]