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Selected Press Releases

SEC Charges Current and Former E*TRADE Subsidiaries With Improperly Selling Penny Stocks Through Unregistered Offerings

10/09/2014

The Securities and Exchange Commission today announced an enforcement action against current and former brokerage subsidiaries of E*TRADE Financial Corporation that failed in their gatekeeper roles and improperly engaged in unregistered sales of microcap stocks on behalf of their customers.Read more

SEC Charges Two Florida Men With Defrauding Investors in Purported Television Network

09/29/2014

The Securities and Exchange Commission today announced charges against two Florida men for defrauding investors in a purported startup television network and production company by providing false information about its revenues and future prospects, including that former basketball star Michael Jordan planned to invest in the company.Read more

SEC Announces Cases Targeting International Pyramid Scheme Operators

09/26/2014

The Securities and Exchange Commission today announced charges against the operators of an international pyramid scheme that raised more than $129 million from investors worldwide, primarily in the U.S., China, and Taiwan. The case follows another against a separate pyramid scheme that lured investors in the U.S., China, and Korea with seminars, webinars, and YouTube videos.Read more

SEC Charges Four Insurance Agents in Securities Fraud Targeting Elderly Investors

09/26/2014

The Securities and Exchange Commission today announced charges against four insurance agents for unlawfully selling securities in what turned out to be a multi-million dollar offering fraud targeting elderly investors.Read more

SEC Suspends Trading in Nine Penny Stocks in Ongoing Initiative to Combat Microcap Fraud

09/25/2014

The Securities and Exchange Commission today announced suspensions in trading for nine different penny stocks as part of an ongoing enforcement initiative to combat microcap fraud.Read more