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Selected Press Releases

SEC Charges Stock-Based Lender With Selling Billions of Penny Stock Shares as Unregistered Broker-Dealer

01/29/2015

The Securities and Exchange Commission today charged a Chicago-area company that provides stock loans using equities as collateral, its two co-founders, and its former chief operating officer with selling more than nine billion shares of penny stocks through purported stock-based loans, block trades, and other transactions without registering with the SEC as a broker-dealer as required under the federal securities laws. Read more

SEC Charges Oppenheimer With Securities Law Violations Related to Improper Penny Stock Sales

01/27/2015

The Securities and Exchange Commission today charged Oppenheimer & Co. with violating federal securities laws while improperly selling penny stocks in unregistered offerings on behalf of customers. Read more

SEC Charges Investment Adviser and Manager in South Florida-Based Fraud

01/21/2015

The Securities and Exchange Commission today announced fraud charges and an asset freeze against a Fort Lauderdale, Florida-based investment advisory firm, its manager, and three related funds in a scheme that raised more than $17 million since November 2013.Read more

SEC Charges Investment Adviser and Manager in South Florida-Based Fraud

01/21/2015

The Securities and Exchange Commission today announced fraud charges and an asset freeze against a Fort Lauderdale, Florida-based investment advisory firm, its manager, and three related funds in a scheme that raised more than $17 million since November 2013. Read more

SEC Announces Charges Against Attorneys and Auditors in Microcap Scheme Involving Purported Mining Companies

01/15/2015

The Securities and Exchange Commission today announced charges against attorneys, auditors, and others allegedly involved in a microcap scheme the agency stifled last year when it suspended the registration statements of 20 purported mining companies being used for sham offerings of stock to investors.Read more