Asset Management Advisory Firm President Charged by SEC in Massive Fraud
John Hughes bilked dozens of victims of nearly $300 million in a ‘brazen and sophisticated fraud’ and has already pleaded guilty to criminal charges.
Law Enforcement
SEC Accuses Kraken of Operating Unregistered Securities Exchange
The charge will only stick if the court agrees with the SEC that the tokens involved are, indeed, securities.
Federal Court Enters Judgment Against Former Hedge Fund Trader
Premium Point had inflated the value of private funds it advised by hundreds of millions of dollars to hide poor performance.
Investment Firm Pays $2.5M to Settle Allegations It Defrauded Madoff Victim Fund
Austin-based Fulcrum bought recovery rights from Madoff victims, then required them to conceal the proceeds to inflate the payments.
Michigan Pension Loses Lawsuit Against Unilever Over Ben & Jerry’s Israel Boycott
A federal judge dismissed a case that alleged Unilever misled investors by concealing a board resolution.
SEC Charges Investment Firm for Fraudulent Coin Scam
Red Rock Secured allegedly tricked victims into selling off 401(k) assets to invest in coins at an exorbitant markup.
How Russia’s Military Move Roils Markets
Stocks oscillate as oil shoots up, with more wildness expected ahead.
Litigation Finance Firm Founder Pleads Guilty to Securities Fraud
Jaeson Birnbaum faces up to 20 years in prison for using investor funds for personal use and to pay earlier investors.
Trader Is Accused of Speculative Trading That Bankrupted His Employer
Keith Wakefield allegedly lost $30 million from unauthorized risky bond trades, which forced IFS Securities to go out of business.
Former Goldman Compliance Analyst Charged With Insider Trading
The SEC alleges Jose Luis Casero Sanchez ‘abused his position of trust’ by using confidential information to make trades.
SEC Wants Funds to Reveal More Proxy Voting Information
The regulator proposes disclosure rule changes regarding ‘say-on-pay’ votes and securities lending.
Wisconsin Adviser Charged With Defrauding Elderly, Ill Clients
The SEC alleges Michael Shillin betrayed more than 100 clients, with ‘devastating’ results
Leader of Cryptocurrency Scam Targeting Doctors Pleads Guilty
The former UBS securities broker faces up to 20 years in prison for defrauding investors out of more than $30 million.
Advance Fee Scheme Promoter Gets 14 Years in Prison for Fraud
James Leonard Smith allegedly helped steal nearly $6 million from investors desperate for financing.
Senators Reintroduce Bills to Bolster Retirement Savings
The four bipartisan bills are sponsored by Sens. Cory Booker and Todd Young.