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Selected Press Releases

SEC Charges Oil Company and CEO in Scheme Targeting Chinese-Americans and EB-5 Investors


The Securities and Exchange Commission today charged a Bay Area oil and gas company and its CEO with running a $68 million Ponzi-like scheme and affinity fraud that targeted the Chinese-American community in California and investors in Asia, including some solicited as part of the EB-5 Immigrant Investor Program.Read more

SEC Halts Pyramid/Ponzi Scheme Targeting Spanish and Portuguese Communities


The Securities and Exchange Commission today announced fraud charges and an asset freeze against the operators of a pyramid and Ponzi scheme falsely promising a gold mine of investment opportunity to investors in Spanish and Portuguese-speaking communities in Massachusetts, Florida, and elsewhere in the U.S. Read more

SEC Charges Former Stockbroker With Conducting Ponzi Scheme


The Securities and Exchange Commission today charged a former stockbroker in Pennsylvania with conducting a Ponzi scheme and stealing investor money to purchase a condominium in Florida and afford his own vacations and other luxuries.Read more

SEC Charges Unregistered Brokers in EB-5 Immigrant Investor Program


The Securities and Exchange Commission today charged two firms that illegally brokered more than $79 million of investments by foreigners seeking U.S. residency. The charges are the first against brokers handling investments in the government’s EB-5 Immigrant Investor Program and follow earlier SEC actions against fraudulent EB-5 offerings.Read more

SEC Charges Microcap Oil Company, CEO, and Stock Promoter With Defrauding Investors


The Securities and Exchange Commission today charged a Texas-based oil company and its CEO with defrauding investors about reserve estimates and drilling plans, and charged the author of a stock-picking newsletter for his role in a fraudulent promotional campaign encouraging readers to buy the oil company’s penny stock shares.Read more