Monthly Archives: July 2012

Federal Jury Clears Former Citigroup Manager Brian Stoker of Fraud Charges

On July 31, 2012, a federal jury found that former Citigroup Manager Brian Stoker was not liable for fraud in connection with the bank’s sale of mortgage-related investments.

Posted in Securities | Tagged ,

SEC Files Settled Offering Fraud Action Against Michael Bodanza

SEC v. Michael A. Bodanza, et al., Case No. 1:12-cv-1954 (N.D. Ohio).  On July 30, 2012, the SEC announced the filing of a settled civil action against Michael Bodanza, the former CFO and founding member of Preferred Financial Holdings Co., … Continue reading

Posted in Securities | Tagged , , , ,

SEC Freezes Assets of Insider Traders in Nexen Acquisition

SEC v. Well Advantage Limited, et al.  The SEC is continuing its pursuit of insider traders, obtaining an emergency asset freeze on traders’ assets.  On July 27, 2012, the SEC filed a complaint against Well Advantage Limited, Certain Unknown Traders … Continue reading

Posted in Securities | Tagged , , , | 2 Comments

SEC Charges Ronald Feldstein for Role in Facilitating Fake Investment in Penny Stock Company

SEC v. Ronald Feldstein.   On July 25, 2012, the SEC filed a complaint against Ronald Feldstein.  The suit stems from the role played Feldstein played in the disclosure of materially misleading information by Interlink-US-Network, Ltd. (“Interlink”) and its officers concerning a … Continue reading

Posted in Securities | Tagged , , ,

SEC Charges Ladislav “Larry” Schvacho With Insider Trading

SEC v. Ladislav “Larry” Schvacho, Case No. 1:12-mi-99999-UNA (N.D. Ga.).  On July 24, 2012, the SEC announced insider trading charges against Larry Schvacho.  Schvacho traded in the common stock of Comsys IT Partners, Inc. (“Comsys”) based on material, non-public information … Continue reading

Posted in Securities | Tagged , , ,

SEC Charges Chicago-Based Huron Consulting Group and Two Former Executives With Accounting Violations

In the Matter of Huron Consulting Group, Inc., Gary L. Burge, CPA, and Wayne E. Lipski, CPA, Admin. Proc. No. 3-14958.  On July 19, 2012, the SEC issued an administrative order finding that Huron Consulting Group Inc., a provider of … Continue reading

Posted in Securities | Tagged , , ,

SEC Charges Monouchehr Moshayedi With Insider Trading

SEC v. Monouchehr Moshayedi, Case No. SACV12-1179 (C.D. Cal.)  On July 19, 2012, the SEC announced insider trading charges against Monouchehr Moshayedi in connection with the sale of nine million shares of stock in STEC, Inc. (“STEC”) in August 2009.  Moshayedi is a founder, and … Continue reading

Posted in Securities | Tagged , , , ,

SEC Charges Mizuho Securities USA With Misleading Investors By Obtaining False Credit Ratings for Collateralized Debt Obligation.

SEC v. Mizuho Securities USA Inc., Case No. 12-cv-5550 (S.D.N.Y); In the Matter of Alexander V. Rekeda, Admin. Proc. No. 3-14953; In the Matter of Xavier Capdepon and Gwen Snorteland, Admin. Proc. No. 3-14954; In the Matter of Delaware Asset Advisers … Continue reading

Posted in Securities | Tagged , , , , , , ,

Senators Are Seeking Tougher Penalties For Wall Street

Two U.S. Senators plan to introduce a bill that would increase the fines that the SEC can impose on Wall Street.

Posted in Securities | Tagged , , ,

SEC Announces Deferred Prosecution Agreement with Amish Fund

On July 18, 2012, the SEC announced a deferred prosecution agreement with a non-profit corporation that offers securities to fund mortgage and construction loans to young Amish families in Ohio.  The agreement with the non-profit, Amish Helping Fund (“AHF”), hopes … Continue reading

Posted in Securities | Tagged ,