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Monthly Archives: May 2012
CFTC Charges CTI Group, LLC, Cooper Trading, Stephen Symons, and James Kline With An $11 Million Fraud in the Sale of Automated Trading Systems
CFTC v. CTI Group, LLC et al., Case No. 1:12-cv-03754-ALC (S.D.N.Y). On May 25, 2012, the CFTC announced that it had charged CTI Group, LLC, Cooper Trading, Stephen Craig Symons, and James David Kline with fraudulent sales practices in connection with … Continue reading
CFTC Charges Bradley Schiller in $7.8 Million Ponzi Scheme
CFTC v. Bradley Scott Schiller, Case No. 12-cv-04043 (N.D. Il.). On May 24, 2012, the CFTC charged Bradley Scott Schiller with solicitation fraud, misappropriating investors’ funds, and issuing false statements in connection with a $7.8 million Ponzi scheme in which Schiller … Continue reading
SEC and Stephen H. Guth Settle Insider Trading Charges Concerning Omrix Tender Offer
SEC v. Stephen H. Guth, Case No. 1:12-cv-00842 (RBW) (D.D.C.). On May 24, 2012 the SEC filed a settled civil enforcement action against Stephen H. Guth for buying Omrix Biopharmaceuticals, Inc. common stock ahead of a public announcement that Johnson & Johnson … Continue reading
SEC Charges Investment Advisers Jorge Gomez and Roberto Aleph Espinosa With Fraud
SEC v. Jorge Gomez and Roberto Aleph Espinosa, Case No. 1:12-CV-21962 (S.D. Fl.). On May 29, 2012, the SEC charged Jorge Gomez, an investment adviser, with perpetrating a fraudulent scheme to misappropriate millions from an investment advisory client. The SEC … Continue reading
Posted in Securities
Tagged Fraud, Investment Advisers Act, SEC, Securities Act, Securities Exchange Act
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SEC Obtains Order to Pay More Than $2.8 million Against New Futures Trading International Corporation and Henry Roche in Ponzi Scheme
SEC v. New Futures Trading International Corporation and Henry Roche, Case No. 11-CV-532-JL (D. NH.) On May 24, 2012 the U.S. District Court for the District of New Hampshire entered final judgments by default against New Futures Trading International Corporation … Continue reading
SEC Charges David M. Connolly in Multi-Million Dollar Real Estate Investment Scam
SEC v. David M. Connolly, Case No. 2:12-cv-02952-WJM-MF (D.N.J.) On May 17, 2012, the SEC charged David Connolly with operating a multi-million-dollar Ponzi-like scheme involving a series of investment vehicles formed for the purpose of purchasing and managing real estate … Continue reading
Posted in Securities
Tagged Fraud, SEC, Securities Act, Securities Exchange Act, Unregistered Securities Transactions
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Former SEC Staffer Fined $50,000 by the DOJ and Barred From Practice Before the SEC
In the Matter of Spencer C. Barasch, AP File No. 3-14891. On May 24, 2012, the SEC issued an Order Instituting Administrative Proceedings, Making Findings and Imposing Remedial Sanctions against Spencer Barasch, a former enforcement official in the SEC’s Forth … Continue reading
SEC Charges Northern California Investment Adviser in $60 Million Ponzi Scheme
SEC v. GLR Capital Management, LLC, et al., Case No. CV 12-2663 HRL. Yesterday, the SEC charged John A. Geringer of running a $60 million investment fund like a Ponzi scheme. Geringer, who managed the GLR Growth Fund, misled investors … Continue reading
Posted in Securities
Tagged Fraud, Investment Advisers Act, SEC, Securities Act, Securities Exchange Act
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SEC Files Insider Trading Charges Against Former Yahoo Executive and Ameriprise Mutual Fund Manager
SEC v. Reema D. Shah and Robert W. Kwok, Civil Action No. 12-CV-4030 (ALC) (S.D.N.Y.). On May 22, 2012, the SEC announced insider trading charges against Robert W. Kwok, former Senior Director of Business Management at Yahoo! Inc., and Reema D. Shah, … Continue reading
SEC Charges Fund Manager for Secretly Diverting Funds to His Own Companies
SEC v. Mark F. Spangler and The Spangler Group, Inc., Case No. 2:12-cv-00856 (D. Wash.). On May 17, 2012, the SEC announced that it filed an action against Mark Spangler, a former chairman of the National Association of Personal Financial … Continue reading
Posted in Securities
Tagged Fraud, Investment Advisers Act, SEC, Securities Exchange Act
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Securities Enforcement Blog 