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Selected Press Releases

SEC Charges Ring of High School Buddies with Insider Trading in Health Care Stocks

11/19/2012

Washington, D.C., Nov. 19, 2012 — The Securities and Exchange Commission today charged three health care company employees and four others in a New Jersey-based insider trading ring of various high school friends generating $1.7 million in illegal profits and kickbacks by trading in advance of 11 public announcements involving mergers, a drug approval application, and quarterly earnings of pharmaceutical companies and medical technology firms.Read more

SEC Charges New York-Based Fraudster Who Spent Investor Funds on Drugs and Gambling

11/19/2012

Washington, D.C., Nov. 19, 2012 — The Securities and Exchange Commission today charged a purported investment adviser in New York with defrauding investors who he convinced to invest in his start-up businesses while in reality he was spending their money on illegal drugs and gambling.Read more

SEC Halts Prime Bank Scheme in Georgia

11/19/2012

Washington, D.C., Nov. 19, 2012 — The Securities and Exchange Commission today charged the operators of a long-running prime bank scheme with defrauding investors who were promised sky-high returns on loans to a secret European trust. It also is seeking an emergency court order to freeze the operators’ assets for the benefit of investors.Read more

SEC Charges J.P. Morgan and Credit Suisse With Misleading Investors in RMBS Offerings

11/16/2012

Washington, D.C., Nov. 16, 2012 — In coordination with the federal-state Residential Mortgage-Backed Securities Working Group, the Securities and Exchange Commission today charged J.P. Morgan Securities LLC and Credit Suisse Securities (USA) with misleading investors in offerings of residential mortgage-backed securities (RMBS). The firms agreed to settlements in which they will pay more than $400 million combined, and the SEC plans to distribute the money to harmed investors.Read more

SEC Receives More Than 3,000 Whistleblower Tips in FY2012

11/15/2012

Washington, D.C., Nov. 15, 2012 — Over the past year, the Securities and Exchange Commission received more than 3,000 whistleblower tips from all 50 states and from 49 countries, according to the agency's 2012 Annual Report on the Dodd-Frank Whistleblower Program released today.Read more