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Selected Press Releases

Citigroup Affiliates to Pay $180 Million to Settle Hedge Fund Fraud Charges

08/17/2015

The Securities and Exchange Commission today announced that two Citigroup affiliates have agreed to pay nearly $180 million to settle charges that they defrauded investors in two hedge funds by claiming they were safe, low-risk, and suitable for traditional bond investors. The funds later crumbled and eventually collapsed during the financial crisis.Read more

Edward Jones to Pay $20 Million for Overcharging Retail Customers in Municipal Bond Underwritings

08/13/2015

The Securities and Exchange Commission today announced that St. Louis-based brokerage firm Edward Jones and the former head of its municipal underwriting desk have agreed to settle charges that they overcharged customers in new municipal bonds sales. It’s the SEC’s first case against an underwriter for pricing-related fraud in the primary market for municipal securities. The firm also was charged with separate misconduct related to supervisory failures in its review of certain secondary market municipal bond trades.Read more

Three Maryland Men Settle Charges They Defrauded Investors in Real Estate Investment Company

08/13/2015

The Securities and Exchange Commission today announced that three Maryland men have agreed to settle charges that they defrauded investors in a company that owns and operates residential and commercial real estate. Boston-based Signator Investors Inc. and one of its supervisors agreed to settle separate charges that they failed to supervise two of the men who worked in Signator’s Maryland office.Read more

SEC Charges ITG With Operating Secret Trading Desk and Misusing Dark Pool Subscriber Trading Information

08/12/2015

The Securities and Exchange Commission today announced that ITG Inc. and its affiliate AlterNet Securities have agreed to pay $20.3 million to settle charges that they operated a secret trading desk and misused the confidential trading information of dark pool subscribers.Read more

SEC Charges 32 Defendants in Scheme to Trade on Hacked News Releases - Hackers, Traders Allegedly Reaped More Than $100 Million of Illegal Profits

08/11/2015

The Securities and Exchange Commission today announced fraud charges against 32 defendants for taking part in a scheme to profit from stolen nonpublic information about corporate earnings announcements. Those charged include two Ukrainian men who allegedly hacked into newswire services to obtain the information and 30 other defendants in and outside the U.S. who allegedly traded on it, generating more than $100 million in illegal profits. Read more