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 […]
Tag: 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 […]
SEC Charges California Resident in Microcap Fraud Scheme Targeting Retail Investors
The Securities and Exchange Commission today announced that it has filed an emergency action charging California resident Charlie Abujudeh with running microcap fraud schemes targeting retail investors. According to the SEC’s complaint filed today in U.… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
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,” […]
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 […]
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 […]
