Wilson Baston has been charged by the Securities and Exchange Commission for defrauding investors through a Ponzi scheme. Learn more here. #securitiesfraud
Tag: SEC Enforcement
SEC Charges Investment Fund Founder William K. Ichioka with $25 Million Offering Fraud
The Securities and Exchange Commission (SEC) has taken filed a complaint in the United States District Court for the Northern District of California, against William K. Ichioka, a resident of New York, New York, for engaging in a fraudulent investment scheme. The complaint alleges that Ichioka targeted individual investors primarily in […]
SEC Charges Audit Firm Marcum LLP for Widespread Quality Control Deficiencies
Marcum LLP Faces SEC Charges for Audit Quality Control Failures In a significant development, audit firm Marcum LLP has come under scrutiny by the Securities and Exchange Commission (SEC) for its systemic quality control failures and violations of audit standards. The charges are particularly related to its audit work for […]
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SEC Halts Alleged Cannabis Fraud Scheme
The SEC obtained an emergency order to halt an alleged ongoing offering fraud and Ponzi-like scheme by Integrated National Resources Inc. (INR), which does business as WeedGenics, and its owners, Rolf Max Hirschmann and Patrick Earl Williams. The SEC alleges that INR raised more than $60 million from investors to […]
HSBC Securities and Scotia Capital Fined $15M and $7.5M Respectively by SEC for Recordkeeping Failures
On May 11, 2023, the SEC charged HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. for their employees’ longstanding and widespread failures to preserve and maintain electronic communications. To settle the charges, HSBC and Scotia admitted that their conduct violated recordkeeping provisions of the federal securities laws and agreed […]
Betterment Settles SEC Charges Concerning Tax Loss Harvesting Service
The Securities and Exchange Commission charged investment advisory firm Betterment LLC for material misstatements and omissions related to its automated tax loss harvesting service (TLH), failing to provide clients with notice of contract changes, and failing to maintain certain required books and records. Betterment agreed to pay a $9 million […]
Merrill Lynch Pays Over $9.5 Million to Settle SEC Charges for Undisclosed Foreign Exchange Fees
Merrill Lynch, Pierce, Fenner & Smith Incorporated has settled with the Securities and Exchange Commission (SEC) for charging more than $4 million in undisclosed foreign exchange fees to its advisory clients for transfers to or from their accounts. The company has agreed to pay disgorgement, prejudgment interest, and a civil […]
Brazilian Mining Company Agrees to Pay $55.9 Million to Settle SEC Charges on Misleading Disclosures
Vale S.A., one of the world’s largest iron ore producers and a publicly traded Brazilian mining company, has agreed to pay $55.9 million to settle charges brought by the Securities and Exchange Commission (SEC) regarding allegedly false and misleading disclosures about the safety of its dams. The charges stem from […]
SEC Obtains Emergency Relief Against Long Island Investment Adviser and Firm Charged with Fraud
The Securities and Exchange Commission has charged former broker Surage Kamal Roshan Perera and his company, Janues Capital Incorporated, with engaging in fraudulent activities. The charges relate to allegations that they defrauded at least one investor out of millions of dollars. The SEC alleges that Perera and his firm deceived […]
