Securities Fraud
Jeffrey P. and Paulette Carpoff, of Martinez, Calif., ran “a massive Ponzi scheme that raked in over $910 million in investor funds,” the SEC claims in federal court.
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Securities Fraud
The SEC says it will return the $63 million investors lost in the alleged Morgan Mezzanine Fund Manager investment fraud.
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The SEC claims Guy Scott Griffithe, 40, of Laguna Niguel, Calif., and Robert William Russell, 60, of Duvall, Wash., defrauded investors of $4.9 million by selling them worthless “interests” in three alleged marijuana businesses, Renewable Technologies Solution, Green Acres Pharms, and SMRB, in federal court.
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The SEC says Daniel Markel, 55, of Toluca Lake, Calif., fraudulently raised $7.7 million in unregistered offerings of his company MyLife Recovery Centers securities, in federal court.
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The SEC claims Southern Californians Scott Charles Messier and Jay Zola Scoratow took more than $2 million in fraudulent “commissions” from selling microcap stocks, in federal court.
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The SEC accuses five Californians of reaping more than $10 million in “commissions” in a matched-trading scheme involving thinly traded stocks, though they were not registered as brokers or dealers nor associated with one.
Read more$75 Million Ponzi
The SEC said Tuesday that it obtained an asset freeze against Kenneth D. Courtright III, 49, of Minooka, Ill., and his company, Todays Growth Consultant, for an alleged Ponzi scheme that raised at least $75 million from more than 500 investors.
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The SEC claims Donald G. Blakstad, 60, of San Diego and Las Vegas, defrauded investors of $3.5 million by selling them shares of his companies Energy Sources International Corp. and Xact Holdings Corp., in federal court.
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The SEC claims Steve M. Bajic, of Canada; Rajesh Taneja, of Vietnam; Kenneth Ciapala and Anthony Killarney, both of Switzerland, and 10 companies they control defrauded investors of $67 million, in federal court.
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Edward Espinal, 44, of Wayne, N.J., defrauded Latino investors of at least $5 million through his company, Cash Flow Partners, the SEC claims in federal court.
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The SEC claims Keith Springer, 55, of Sacramento, through his Springer Investment Management dba Springer Financial Advisors deceives elderly investors with false and misleading statements, takes millions of dollars for himself, and conceals his disciplinary history with the SEC and New York Stock Exchange, in federal court.
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Blockchain of Things will pay $250,000 and must return money to investors who demand it for its nearly $13 million “initial coin offering,” the SEC said.
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MetLife will pay $10 million to settle books and records and internal accounting controls violations, the SEC said Wednesday.
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The SEC says Robert A. Karmann, of Clayton, Calif., a CPA, played an “important role” in a $910 million Ponzi scheme involving mobile solar generators, in federal court.
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The SEC claims Sam A. Antar, 43, of New York City, already a felon, stole at least $550,000 by claiming he would use investors’ money to buy stocks, but gambled it away and spent it on “gifts to his family members (and) paying for his daughter’s lavish wedding.”
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The SEC claims in federal court that Suneet Singal, 41, of El Dorado Hills, Calif., and his companies First Capital Real Estate Trust Inc., (and two similarly named companies) lied about owning 12 hotels to raise $15 million from investors, of which he misappropriated more than $2 million.
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The SEC claims Eran Eyal, 44, of Brooklyn, defrauded investors of more than $42 million through an unregistered “initial coin offering” through his company Uniteddata dba Shopin, in addition to another, $600,000 securities fraud, in federal court.
Read moreNanotech
The SEC said Tuesday it obtained a temporary restraining order and asset freeze against California-based solar panel company Nanotech and three of its directors who allegedly defrauded more than 100 investors and diverted more than $2.4 million to themselves.
Read moreChicken Prices
Investors’ securities fraud complaint against Sanderson Farms was properly dismissed, the Second Circuit ruled. The investors claimed that an underlying antitrust conspiracy to manipulate chicken prices resulted in false and misleading filings with the Securities and Exchange Commission but they did not provide sufficient details about the underlying acts or misstatements.
Read moreBroker-Dealer
Jefferies LLC will pay $4 million to settle charges of improperly handling pre-released American Depositary Receipts, the SEC said Monday.
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