David R. Chase P.A.
Revenue Recognition Accounting Fraud
In late January 2024, a New York Federal Court granted the SEC a partial summary judgment against the former Chief Financial Officer of Synchronoss Technologies, as well as its current Controller. In its Complaint, the SEC alleged that the CFO and Controller overstated the revenue of Synchronoss through fraudulent accounting activities.  In particular, the SEC...
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Stock Manipulation Lawyer
The U.S. Securities and Exchange Commission filed an enforcement action against Shanchun Huang for allegedly engaging in a scheme to manipulate Future FinTech Group stock by utilizing an offshore account shortly prior to being tapped as the company’s Chief Executive Officer in 2020.  In addition to the securities manipulation charge, the SEC also sued Huang...
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Microcap Fraud
The US Securities and Exchange Commission sought and obtained a judgment against Vincenzo Carnovalean in connection with his alleged participation in a fraudulent microcap securities scheme that harmed innocent retail investors.  In its civil complaint, the SEC contends that in the time period spanning from 2016 up to October 2020, Carnovale and another individual, Amar Bahadoorsingh,...
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Ponzi scheme defense lawyer
The United States Securities and Exchange Commission brought suit against Titanium Capital LLC and its principal, Henry Abdo, for allegedly running a Ponzi scheme that raked in around $5.3 million from more than 150 investors from the United States and foreign countries.  In addition, the SEC filed charges against a Titanium representative, Barsh, in connection...
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free-riding scheme
The United States Securities and Exchange Commission, SEC, has filed civil charges against Andrew M. Komarow for allegedly engaging in a fraudulent free-riding scheme through which he tried to profit by buying and selling securities that he did not pay for. The SEC’s lawsuit contends that, from October 2022 to January 2023, Komarow made unfunded...
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SEC investigation for insider trading
Days ago, the SEC obtained partial final consent judgments against three individuals charged with trading on material non-public information in Portola Pharmaceuticals securities. In its complaint, the SEC contends that one of the defendants, a vice-president at Alexion Pharmaceuticals Inc., knowingly or recklessly tipped non-public, confidential information to a close friend regarding an expected May...
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algorithm trading program
The Securities and Exchange Commission recently filed securities fraud charges against Matthew Melton for allegedly making materially false statements to investors concerning the success of his trading algorithm and for stealing in excess of $1.5 million in investor capital. Specifically, the SEC’s complaint contends that from April 2018 up through the end of October 2018,...
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SEC crypto fraud defense
The United States Securities and Exchange Commission has brought civil charges against SafeMoon LLC and other related individuals and entities for allegedly engaging in a fraud scheme involving the unregistered offer and sale of a particular crypto asset named Safemoon. In its enforcement complaint, the SEC contends that Defendants represented to investors that the price...
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subpoena enforcement action
The United States Securities and Exchange Commission (“SEC”) has filed court papers seeking to compel Elon Musk to comply with a SEC Subpoena requiring him to appear for sworn testimony, to which the SEC alleges Musk has failed to comply. In the event an individual or company does not comply with a subpoena issued by...
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Ponzi Scheme Defense
The Securities and Exchange Commission has filed an enforcement action against Matthew Motil, known as the Cash Flow King, for allegedly fraudulently raising around $11 million from over fifty investors as part of a Ponzi scheme involving real estate backed notes. Motil fraudulently promised investors low-risk, high-return promissory notes that he claimed were  collateralized by...
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