An investment advisor based in New York and Santa Fe, N.M., has been charged with swindling dozens of clients out of more than $8 million by recommending investments in a fund he controlled and then transferring the assets out to pay for personal expenses. The U.S. Attorney’s Office for the […]
Tag: Securities Law
Does Trading on Information Learned About A Competitor Constitute Insider Trading?
The SEC has been known to attempt to regulate by litigation, a tactic that causes significant problems for their targets, and undermines the integrity of the SEC’s mission. Insider Trading of a Competitor’s Stock? Last week the SEC charged a former employee of Medivation Inc. with insider trading in advance […]
SEC Charges Investment Adviser and Associated Individuals with Causing Violations of Regulation SHO
The Securities and Exchange Commission today announced settled charges against Murchinson Ltd.; its principal, Marc Bistricer; and its trader, Paul Zogala (the respondents), for providing erroneous order-marking information that caused executing brokers… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox at 212-509-6544. The […]
SEC Charges Pearson plc for Misleading Investors About Cyber Breach
The Securities and Exchange Commission today announced that Pearson plc, a London-based public company that provides educational publishing and other services to schools and universities, agreed to pay $1 million to settle charges that it misled… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Obtains Emergency Relief, Charges Two Florida Companies and their Principal Officer with Operating a Ponzi Scheme
The Securities and Exchange Commission today announced that it filed an emergency action and obtained a temporary restraining order, an asset freeze, and the appointment of a receiver to stop an alleged Ponzi scheme and misappropriation of investor… Read the Full Press Release Have a securities law question? Call Sallah […]
SEC Obtains Court Order to Stop Investment Adviser’s Alleged Ongoing Offering Fraud
The Securities and Exchange Commission today announced the filing of an emergency action against Martin A. Ruiz of New York, and two entities he controls, Carter Bain Wealth Management, LLC (Carter Bain) and RAM Fund, LP (RAM). Shortly after filing the… Read the Full Press Release Have a securities law […]
SEC Charges Decentralized Finance Lender and Top Executives for Raising $30 Million Through Fraudulent Offerings
The Securities and Exchange Commission today charged two Florida men and their Cayman Islands company for unregistered sales of more than $30 million of securities using smart contracts and so-called “decentralized finance” (DeFi) technology, and for… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Issues Whistleblower Awards Totaling More Than $4 Million
The Securities and Exchange Commission announced awards of more than $4 million to four whistleblowers who provided information and assistance in two separate enforcement proceedings. In the first order, the SEC awarded more than $2 million to a whistleblower who provided valuable information that resulted in SEC staff initiating an […]
SEC Charges Real Estate CEO With Defrauding Investors
The Securities and Exchange Commission today announced securities fraud charges against recidivist Michael Shustek, the CEO of several Las Vegas real estate investment trusts (REITs), and his wholly owned investment advisory firm, Vestin Mortgage LLC.… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]
SEC Charges Unlicensed Broker With Defrauding Investors
The Securities and Exchange Commission today charged Joshua L. Rupp of Michigan for engaging in securities fraud and for acting as an unregistered broker-dealer. The SEC’s complaint, filed in the U.S. District Court for the Western District of… Read the Full Press Release Have a securities law question? Call Sallah […]
