Monthly Archives: August 2012

SEC Settles FCPA Action Against Oracle For $2 Million

Posted on August 28, 2012 by

Securities and Exchange Commission v. Oracle Corp., 12-CV-4310 CRB (N.D. Cal.).  On August 16, 2012, the SEC announced settled FCPA charges against Oracle Corporation.  Between 2005 and 2007, employees of Oracle’s Indian subsidiary Oracle India Private Limited (“Oracle India”) secretly … Continue reading →

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SEC Obtains Emergency Asset Freeze Against Michael Turnock and William Sullivan in $15 Million Ponzi Scheme

Posted on August 27, 2012 by

Securities and Exchange Commission v. Bridge Premium Finance, LLC, Michael J. Turnock and William P. Sullivan, II, Defendants, 12-CV-6221 (D. Colo.).  On August 15, 2012, the SEC announced fraud charges and an emergency asset freeze against Bridge Premium Finance LLC, … Continue reading →

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SEC Files Settled Action Against Mark Gasarch And His Company In $8 Million Offering Fraud Scheme

Posted on August 27, 2012 by

Securities and Exchange Commission v. Petro-Suisse Ltd. and Mark Gasarch, 12-CV-6221 (S.D.N.Y.).  On August 14, 2012, the SEC charged Mark Gasarch and Petro-Suisse Ltd. with offering fraud.  The case concerns limited partnership offerings that Defendants promoted in order to finance … Continue reading →

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SEC Charges Ivan Wade Brown And His Companies In $27 Million Fraud

Posted on August 22, 2012 by

Securities and Exchange Commission v. Avanti Capital Partners, LLC, et al., 2:12-cv-788-BCW (D. Utah).  On August 13, 2012, the SEC filed charges against Ivan Wade Brown and his two companies:  Highland Residential, LLC and Avanti Capital Partners, LLC (Avanti).  This … Continue reading →

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SEC Charges Thomas D. Coldicutt, Jr. And Five Others In $6 Million Scheme

Posted on August 22, 2012 by

Securities and Exchange Commission v. Thomas D. Coldicutt, Jr., et al., 4:12-cv-00505 (E.D. Tex.).  On August 13, 2012, the SEC filed charges against Thomas D. Coldicutt, Jr., Elizabeth L. Coldicutt, Robert C. Weaver, Jr., Christopher C. Greenwood, Linda S. Farrell, … Continue reading →

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SEC Accounces Its First Whistleblower Payment Under Dodd-Frank

Posted on August 21, 2012 by

The SEC announced today that it had made its fist payment to a whistleblower pursuant to the Dodd-Frank Act.  Although the SEC has touted this as evidence of the success of the whistleblower program, the $50,000 payment seems relatively small.  … Continue reading →

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SEC Charges Edward M. Laborio In Boiler Room Scheme

Posted on August 21, 2012 by

Securities and Exchange Commission v. Edward M. Laborio, Jonathan Fraiman, Matthew K. Lazar, Envit Capital, LLC, Envit Capital Group, Inc., Envit Capital Holdings, Inc., Envit Capital Private Wealth Management, LLC, Envit Capital Multi Strategy Mixed Investment Fund I LP, Aetius … Continue reading →

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Nancy Shao Wen Chu Ordered To Pay $15,600,000 Penalty

Posted on August 21, 2012 by

SEC v. Nancy Shao Wen Chu, Case No. CV 11-09859 (C.D. Cal.).  On August 10, 2012, the SEC announced that it had obtained a default judgment against that Nancy Shao Wen Chu, the former CFO for Soyo Group, Inc., ordering … Continue reading →

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SEC Files Fraud Charges Against Ronald Brooks

Posted on August 21, 2012 by

SEC v. Ronald Brooks, Case No. 3:12-cv-2716 (N.D. Tx.).  On August 9, 2012, the SEC fled fraud charges against Ronald D. Brooks, who served as CEO and Chairman of Standard Oil Company USA, Inc., a purported energy company.  Brooks signed … Continue reading →

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SEC Files Settled FCPA Actions Against Pfizer Inc. and Wyeth LLC

Posted on August 16, 2012 by

SEC v. Pfizer Inc., Case No. 1:12-cv-01303 (D.D.C.); SEC v. Wyeth LLC, Case No. 1:12-cv-01304 (D.D.C.).  On August 8, 2012, the SEC announced the filing of settled actions against Pfizer and Wyeth for violations of the Foreign Corrupt Practices Act … Continue reading →

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