The Law of the Financial Markets from Top Securities Lawyers
Monday, September 16, 2024
On September 12, 2024, the Securities and Exchange Commission (SEC) announced that eToro USA LLC has agreed to a settlement of $1.5 million over charges related to operating as an unregistered broker and clearing agency. The settlement stems from eToro’s involvement in facilitating the trading of certain crypto assets classified […]
On August 14, 2024 the SEC announced settlements with 26 broker-dealers, investment advisers, and dual registrants for failures in maintaining and preserving electronic communications. Mark Astarita, a securities defense attorney with Sallah Astarita & Cox, LLC, commented, “We have been telling firms for over a year to review their policies […]
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 […]
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 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 […]
By Mark Astarita, Sallah Astarita & Cox, LLC Introduction SEC Investigations, and ultimately SEC enforcement proceedings, can be disruptive and devastating events for individuals and corporations. Next to hiring an experienced securities defense attorney, knowing what to expect during the investigation will help you achieve your desired result. As former […]
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
Genesis Global Capital Fined $21 Million for Unregistered Crypto Lending Genesis Global Capital, LLC has been hit with a hefty $21 million civil penalty by the Securities and Exchange Commission (SEC). This comes as a settlement to charges that Genesis was involved in the unregistered offering and sale of securities […]
In a landmark settlement, Skechers U.S.A. Inc., the renowned California-based footwear giant, has agreed to pay a $1.25 million civil penalty following charges by the SEC. The SEC’s allegations centered on the company’s failure to adequately disclose certain payments and loans benefiting its executives and their family members. Unveiling Undisclosed […]
The SEC has taken legal action against Paul A. Pereira, the former CEO and co-founder of Alfi, Inc., for allegedly disseminating false and misleading information via social media platforms to artificially inflate the company’s stock price. Alleged Misrepresentation of Financial Performance Under the pseudonym “Uptix12,” Pereira purportedly made statements shortly […]
