Bogus!
Securities recidivist Brent Borland took $6 million from the $22 million in promissory notes he sold to customers through his Borland Capital Group and Belize Infrastructure Fund I, the SEC says in a federal complaint.
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Securities Fraud
The SEC claims that Keenan Gracey, 27, of Clyde Hill, Wash., took more than $2 million for bogus “pre-IPO” shares that do not exist. “Instead, Gracey just steals the money,” the federal complaint states.
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William M. Jordan, of San Juan Capistrano, defrauded investment clients from whom he raised $71 million before he put his WJA Funds into bankruptcy, the SEC claims in a federal complaint.
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7th Circuit Upholds Dismissal of Market Makers’ SEC Petition
The Securities and Exchange Commission did not have jurisdiction over a petition by a number of securities firms claiming the Chicago Board Options Exchange and Nasdaq mischarged them millions of dollars, the Seventh Circuit ruled.
Read more11th Circuit Punts State Republicans’ Challenge of FINRA Rule to D.C.
The 11th Circuit punted two state Republican party organizations’ challenge to a Financial Industry Regulatory Authority rule governing political contributions to the D.C. Circuit, and dismissed a third for lack of jurisdiction.
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Premium Point Investments, which once managed billions of dollars in assets, inflated the value of its holdings by 100 percent or more, the SEC claims in a federal complaint.
Read moreFederal Judge Orders Jay-Z to Testify in SEC Probe
A New York federal judge on Tuesday granted the Securities Exchange Commission’s demand to question rapper Jay-Z without a time limit next week as part of a securities fraud investigation.
Read moreJay-Z Roasts SEC on Bid for Indefinite Sit-Down
A month out from the start of his worldwide stadium tour with Beyonce, Jay-Z clawed at the Securities Exchange Commission in court papers Monday for making demands that he calls “excessive, unwarranted, and in need of judicial curtailment.”
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As president of (nonparty) Sanomedics International Holdings, defendant Keith Houlihan, 50, of Boca Raton, defrauded investors of $21 million through a boiler-room operation, the SEC claims in a federal complaint.
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Bovorn Rungruangnavarat, of Bangkok, and his brother made $3.8 million trading on inside information from an investment banker that Smithfield Foods was about to be purchased by Shuanghui Holding International at 31 percent over market prices, the SEC claims in a federal complaint.
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The SEC claims in a federal complaint that Eddy U. Marin, 56, of Davie, Fla., and Shane R. Spierdowis, 27, of Boca Raton, ran a pump-sand-dump scheme in Valentine Beauty shares, from which they netted a total of $267,000.
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Madison Timber Properties defrauded investors of $85 million in a Ponzi scheme, the SEC claims in a federal complaint.
Read morePanasonic Reaches $280 Million Corruption Settlement
A Panasonic subsidiary received a $280 million slap from the U.S. government on Monday for hiding payments to consultants and foreign sales agents who performed dubious work for the company.
Read moreYahoo Fined $35 Million
Altaba, formerly known as Yahoo, will pay $35 million to settle charges it misled investors by failing to disclose one of the world’s largest data breaches in late 2016, when hackers stole personal data from hundreds of millions of user accounts, the SEC said Tuesday
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Class Action Filed Over Alleged Manipulation of Wall Street’s ‘Fear Index’
Investors claim in a federal class action that the Chicago Board of Options Exchange put profits ahead of protecting investors by allegedly allowing its Volatility Index to be manipulated by Wall Street firms.
Read moreMontesquieu Invoked for Challenge to SEC Appointments
An 18th century philosophe made an appearance at the Supreme Court on Monday for a challenge to how the Securities and Exchange Commission installs judges.
Read moreSecurities Fraud
The SEC claims in a federal complaint that a sometime attorney fraudulently drove the alleged market capitalization of his company American Transportation Holdings Inc. to $3 billion in July 2016, though the company was a mere shell with none of its four claimed business ventures.
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