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Selected Press Releases

SEC Charges Purported Investment Adviser in San Diego With Stealing Client Funds and Conducting a Ponzi Scheme


The Securities and Exchange Commission today charged a purported investment adviser in San Diego with stealing money from clients for personal use and conducting a Ponzi scheme to pay customers making redemption requests. Read more

SEC Charges Pennsylvania Attorney with Insider Trading in Advance of Merger Announcement


The Securities and Exchange Commission today charged a Pennsylvania attorney with insider trading in the stock of Harleysville Group, Inc. in advance of the 2011 announcement of a $760 million merger of Harleysville and Nationwide Mutual Insurance Company. Read more

SEC Charges 34 Defendants in Microcap Market Manipulation Schemes


The Securities and Exchange Commission today charged 15 individuals and 19 entities for their roles in alleged schemes to manipulate the trading of microcap stocks. The 34 defendants include six firms alleged to have acted as unregistered broker-dealers catering to customers who sought to conceal their stock ownership and manipulate the market for microcap securities. Read more

SEC Announces Settlement With Cooperator in Grand Central Post-It Notes Insider Trading Case


The Securities and Exchange Commission today announced a settlement with a Brooklyn man who entered into a cooperation agreement to help the agency mount evidence in an insider trading scheme in which illegal tips were passed via napkins or post-it notes at Grand Central Terminal. Read more

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