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SEC Bars Former Ameriprise Financial Investment Advisor

The Securities and Exchange Commission has barred Arthur S. Hoffman, a former investment adviser representative of Ameriprise Financial Services.Hoffman began his career at Morgan...

SEC Charges Former Advisor with Misappropriation of Client Funds

The Securities and Exchange Commission has charged David Sheldon Wells, a former representative of an SEC-registered broker-dealer and investment advisory firm, Fifth Third Securities...

NexPoint Seeks Injunction Against UDF IV Execs Who Used $65 Million...

NexPoint Advisors, L.P., a Dallas-based alternative investment firm, has filed a motion for preliminary injunction against United Development Funding IV, a real estate investment...

SEC Begins Administrative Proceedings Against Broker Serving 7.5 Years in Federal...

The Securities and Exchange Commission has instituted public administrative proceedings against Leon Vaccarelli, a former broker and investment adviser who is currently serving 7.5...

SEC Charges Advisory Firm and Executives with $75 Million Fraud

The Securities and Exchange Commission has charged two North Carolina-based executives, Gregory E. Lindberg and Christopher Herwig, and their registered investment adviser, Standard Advisory...

NexPoint Sues UDF IV Advisors and Executives over “Massive Multi-Year Deception”

NexPoint Advisors L.P., a Dallas-based alternative investment firm, has filed a new complaint in a Dallas district court related to United Development Funding IV,...

Massachusetts Fines MassMutual Subsidiary $250,000 for Failing to Supervise Broker

The Massachusetts Securities Division has levied a $250,000 fine against MLS Investment Services LLC, a subsidiary of MassMutual, over the company’s failure to supervise...

SEC Sues Fund Manager and Investment Adviser for $30 Million Mineral...

The Securities and Exchange Commission has charged Christopher Bentley and his company, Bellatorum Resources LLC, for engaging in alleged "fraudulent acts" that resulted in...

SEC Obtains Judgment Against Attorney Charged with Multi-Million Dollar Offering Fraud

The United States District Court for the Eastern District of New York has entered a final judgment against Shimon Rosenfeld, a Brooklyn-based attorney who...

SEC Charges Three Advisers for Recommending Multi-Million-Dollar Ponzi to Clients

The Securities and Exchange Commission filed a civil action in a Georgia district court against Michael Mooney, Britt Wright, and Penny Flippen in connection...

Former Broker Sentenced to Six Years in Prison for Embezzling Millions...

John Sherman Jumper, a former broker, was sentenced for embezzling $5.7 million from the pension benefit plan for employees of Snowshoe Refractories, a fire...

SEC Charges EIA All Weather Alpha Fund with Fraud

The Securities and Exchange Commission has charged Detroit-based EIA All Weather Alpha Fund I Partners LLC (EIA) and its sole owner, Andrew M. Middlebrooks...

UDF Executives Sentenced to a Combined 20 Years

Four United Development Funding executives were sentenced to a combined 20 years in federal prison for fraud, according to U.S. Attorney for the Northern...

SEC Obtains Final Judgement Against Former RIA Exec Who Pled Guilty...

The Securities and Exchange Commission has obtained a final judgement against Richard Diver, the former chief operating officer and co-founder of wealth management firm...

SEC Bars Adviser Accused of Defrauding Elderly Client

The Securities and Exchange Commission has barred former Michigan-based investment adviser, Steven F. Muntin, who was charged with defrauding one of his clients out...

Investment Fund Manager Sentenced to Nine Years for $100 Million Securities...

Brenda Smith, an investment adviser who previously pled guilty to securities fraud, was sentenced to 109 months in prison and ordered to pay $47.2...

SEC Obtains Judgment Against Adviser Accused of Defrauding Elderly Client

The Securities and Exchange Commission has obtained a final judgement against former Michigan-based investment adviser, Steven F. Muntin, who was charged with defrauding one...

Daughter of Imprisoned Former Securities America Broker Pleads Guilty to Federal...

The United States Attorney for the Southern District of New York reported that Vania May Bell, the former comptroller and chief compliance officer of...

SEC Orders Fund Manager to Pay $12 Million to Settle Fraud...

The Securities and Exchange Commission has ordered real estate fund manager Eric Malley and his company MG Capital Management L.P. to pay more than...

SEC Charges Adviser with Running Precious Metals Scheme Targeting Retail Investors

The Securities and Exchange Commission has charged Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in an alleged multi-million dollar fraud involving...