Tag: fraud
SEC Obtains Final Judgement Against Former LPL Advisor Who Defrauded Clients...
The U.S. District Court for the District of Massachusetts entered a final judgment against Massachusetts-based investment adviser James K. Couture in connection with the...
SEC Charges Financial Advisor for Defrauding NBA Players
The Securities and Exchange Commission charged Darryl Matthew Cohen, a former investment adviser at Morgan Stanley, with misappropriating more than $1 million from three...
SEC Petitions Supreme Court to Decide Authority of Administrative Law Courts
The Securities and Exchange Commission filed a petition late last week requesting that the Supreme Court review a decision by the Fifth Circuit that...
Unregistered Investment Advisor Uses KPMG as Cover for Fraud Scheme
The Securities and Exchange Commission announced that it filed an emergency action, and obtained an asset freeze, against unregistered investment advisers Jack C. Ridall...
Investors File Lawsuit Against National Realty Investment Advisors for “Ponzi-Like Fraud”
A group of investors filed suit on Friday against New Jersey-based National Realty Investment Advisors LLC and four of its former executives who the...
SCOTUS Appears Sympathetic to SEC Challenges
During more than two hours of oral arguments before the U.S. Supreme Court earlier this week, the majority of justices appeared open to making...
SEC Charges Creator and Promoters of Crypto Ponzi Scheme with $295...
The Securities and Exchange Commission charged Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor and Jonathan Tetreault for their roles in Trade Coin Club,...
Fifth Circuit Declines Request to Reconsider Constitutionality of SEC In-House Courts
The U.S. Court of Appeals for the Fifth Circuit has declined a request by the U.S. Securities and Exchange Commission to reconsider a panel’s...
SEC Obtains Final Judgement Against Cetera Advisors and Cetera Advisor Networks...
The Securities and Exchange Commission obtained a final judgment against defendants Cetera Advisors LLC and Cetera Advisor Networks LLC, whom the SEC previously charged...
SEC Charges National Realty Investment Advisors with $600 Million “Ponzi-Like Fraud”
The Securities and Exchange Commission has charged New Jersey-based National Realty Investment Advisors LLC and four of its former executives with running a Ponzi-like...
Multiple False Personas and Millions in Fraud
The Securities and Exchange Commission announced charges against Justin Costello for using a false persona as a Harvard-educated military veteran and hedge fund billionaire...
FINRA Issues Member Alert Regarding ACATS Fraud
The Financial Industry Regulatory Authority released a regulatory notice alerting firms of a rise in fraudulent transfer of customer accounts through the Automated Customer...
SEC Charges Florida Man and French National with $40 Million Securities...
The Securities and Exchange Commission announced that it filed charges against Paulo Fernando De Bastos, a Florida real estate agent, Joao Pedro Fonseca, a...
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...
