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SEC-FINRA Defense Blog
enforcement action
The U.S. Securities and Exchange Commission filed an enforcement action against numerous individuals for their involvement in a $300 million Ponzi scheme run by CryptoFX LLC, which allegedly targeted in excess of 40,000 mainly Latino investors here in the United States, as well as in two other countries.  The SEC’s complaint follows its prior emergency...
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Rule 102(e) Order
A New York lawyer agreed to the entry of a Rule 102(e) SEC Administrative Order suspending her from appearing or practicing before the SEC Commission as an attorney. In its administrative proceeding, the SEC alleged that from August 2017 through 2018, the New York attorney held herself out as a lawyer to prospective investors in...
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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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SEC restraining order lawyer
Days ago, the United States Securities and Exchange Commission, through its Division of Enforcement, obtained a Court order appointing a receiver over the business operations and affairs of ArciTerra Companies, LLC (“ArciTerra”) and its affiliates. The SEC also sought and successfully secured a temporary restraining order against ArciTerra Companies LLC, and its the Chief Executive...
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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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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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