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Selected Press Releases

SEC Sues Fund Adviser for Fees Charged in Breach of Duty Under the Investment Company Act

06/26/2012

The Securities and Exchange Commission today sued AMMB Consultant Sendirian Berhad (AMC), a Malaysian investment adviser, alleging that for more than a decade, AMC charged a U.S. registered fund for advisory services that AMC did not provide. The SEC alleges that by doing so, AMC breached its fiduciary duty with respect to compensation under the Investment Company Act of 1940.Read more

SEC Charges Founder of Equity Research Firm with Insider Trading

06/26/2012

The Securities and Exchange Commission today charged Tai Nguyen, the owner of the California-based equity research firm Insight Research, with insider trading. The charges stem from the SEC’s ongoing investigation of insider trading involving so-called “expert networks” that provide specialized information to investment firms.Read more

SEC Halts $100 Million Real-Estate Based Ponzi Scheme

06/25/2012

The Securities and Exchange Commission today obtained a temporary restraining order and asset freeze against a Utah man and company charged with operating a real estate-based Ponzi scheme that bilked $100 million from investors nationwide.Read more

SEC Charges Two New Jersey-Based Firms and Owner in Stock-Lending Scheme

06/21/2012

The Securities and Exchange Commission today charged a New Jersey businessman with running a stock-lending scheme that defrauded public company officials and brought restricted stock to the market.Read more

SEC Charges Florida Broker in Astrology-Based Ponzi Scheme

06/21/2012

The Securities and Exchange Commission today charged that a former broker in Orlando, FL, defrauded investors in an astrology-based Ponzi scheme.Read more