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SEC-FINRA Defense Blog
In an enforcement action filed in federal court last week, the Securities and Exchange Commission alleged that Keith Wakefield, the former head of fixed income trading at IFS Securities, engaged in unauthorized trading in fixed income investments causing the loss of millions and fraudulently generated over $800,000 in fictitious commission revenues, all of which ultimately...
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SEC Insider Trading Lawyer
Help from a SEC Insider Trading Lawyer The Securities and Exchange Commission recently charged an individual with illegal insider trading in the securities of Mylan N.V., his former employer.  The trader made profits and avoided losses in excess of $8 million in advance of four public announcements from October 2017 through July 2019. In its...
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The Securities and Exchange Commission has filed an enforcement action against attorney Frederick Bauman alleging he played a vital role as legal counsel in facilitating the unregistered sale of securities by two groups engaged in a securities fraud. Per the SEC complaint, from 2016 through August 2019, Bauman inked approximately a dozen legal opinions falsely...
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Insider Trading Defense
Help from a Insider Trading Defense Lawyer The Securities and Exchange Commission recently filed insider trading charges against a pair from New York for their alleged illegal tipping and trading in a drug company stock in advance of its public release of negative trial results. Per the SEC’s court allegations, Holly Hand held the position...
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The Securities and Exchange Commission has brought civil charges against Matthew J. Skinner and several entities he owns and controls for allegedly orchestrating multiple fraudulent and unregistered real estate offerings over a five-year period, in which he raised in excess of $9 million from more than one-hundred investors. In its civil enforcement action, the SEC alleged that Skinner,...
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Unregistered Digital Asset Offerings
Continuing its aggressive crack down in the crypto space, the Securities and Exchange Commission filed yet another civil enforcement action involving the promotion and sale of a global unregistered digital asset securities offering that raised in excess of $2 billion from the investing public. The SEC’s lawsuit alleges that from around January 2017 to January...
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SEC defense
The Securities and Exchange Commission (SEC) just filed an emergency enforcement action seeking an asset freeze and other immediate relief against Zachary Horwitz, an actor based out of Los Angeles, California, and his company, 1inMM (one in a million) Capital, LLC.  In its lawsuit, the SEC alleged that Horwitz and his company were engaged in...
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Social Media Stock Fraud
The Securities and Exchange Commission continues its prosecution of social media stock fraud. Yesterday, the SEC filed fraud charges against a trader who allegedly utilized social media to spread false and misleading information about a defunct company, while secretly dumping his holdings and profiting in the process.  Per the SEC Complaint, Andrew Fassari used a...
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FINRA recently hit Interactive Brokers LLC with a $15 million penalty for alleged wide-reaching deficiencies in its anti-money laundering (AML) program, which spanned in excess of five years.   As a condition of the settlement, in which Interactive Brokers neither admitted nor denied the allegations, FINRA obligated the firm to put in place a third-party consultant’s...
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The US Securities and Exchange Commission has brought civil enforcement charges against Amir Bruno Elmaani, also known by his online moniker “Bruno Block.”  The SEC charges two categories of securities violations: (1) an illegal securities distribution of digital tokens, and (2) a scheme to enrich by minting unauthorized tokens at no cost and dumping them...
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