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Selected Press Releases

SEC Charges Six Firms for Short Selling Violations in Advance of Stock Offerings


The Securities and Exchange Commission today announced enforcement actions against six firms, including more than $2.5 million in monetary sanctions and, in the case of one previously sanctioned firm, an order barring the firm from participating in stock offerings for a period of one year as part of its ongoing enforcement initiative focused on violations of Rule 105 of Regulation M. Read more

SEC Charges New Jersey Fund Manager With Securities Fraud


The Securities and Exchange Commission today charged a New Jersey fund manager and his firm with defrauding investors by lying about his credentials, concealing trading losses, and using investor funds to make Ponzi-like payments to other investors. Read more

SEC Halts $32 Million Scheme That Promised Riches From Amber Mining


The Securities and Exchange Commission today announced it has filed fraud charges and obtained asset freezes against the operator of a worldwide pyramid scheme that falsely promised investors would profit from a venture purportedly backed by the company’s massive amber holdings. Read more

China-Based Company and CEO To Pay $55.6 Million for Inaccurate Disclosures


The Securities and Exchange Commission today announced a $55.6 million settlement with Focus Media Holding Limited and CEO Jason Jiang to resolve charges of inaccurate disclosures about the China-based advertising company’s partial sale of a subsidiary to insiders, including Jiang. The sale, which occurred before a third party purchased the subsidiary at a significantly higher price, yielded enormous profits to Jiang and other insiders. Read more

SEC Charges Executives for Defrauding Investors in Financial Fraud Scheme - Seeks Return of Allegedly Ill-Gotten Executive Compensation


The Securities and Exchange Commission today charged two former executives of ContinuityX Solutions Inc. with fabricating nearly all of the company’s revenue and enriching themselves in the process. Metamora, Illinois-based ContinuityX was a publicly traded company that claimed to sell Internet services to businesses. The company is now in bankruptcy and its former CEO was criminally charged last year with six counts of wire fraud for conduct related to the SEC’s allegations. Read more