Monthly Archives: November 2012

SEC Charges James Ellis With Brining Victims Into Ponzi Scheme

SEC v. James Ellis, Case No. 12-cv-62211 (S.D. Florida.).  On November 9, 2012, the SEC announced charges against James Ellis.  The SEC alleges that Ellis was involved in a Ponzi scheme with George Elia.  Ellis found investors and introduced them … Continue reading

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SEC Settles With Aamer Abdullah Considering His Cooperation Under The SEC’s Enforcement Cooperation Initiative

SEC v. Aamer Abdullah, Case No. 10-cv-4957 (S.D.N.Y.).  On November 9, 2012, the SEC announced a settlement with Aamer Abdullah in a case brought in June 2010.  Abdullah was a portfolio manager with ICP Asset Management, LLC.  According to the … Continue reading

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SEC Charges Electronic Game Company Executives And Their Outside Auditor With Fraud

SEC v. Lee Cole, Linden Boyne, Kevin Donovan, and Timothy Quintanilla (S.D.N.Y).  On November 8, 2012, the SEC announced it charged Lee Cole, Linden Boyne, Kevin Donovan, and Timothy Quintanilla with fraud.  Cole was the CEO of Electronic Game Card, … Continue reading

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SEC Charges Walter Morales and Commonwealth Advisors With Fraud Related To Mortgage-Backed Securities

SEC v. Walter Morales and Commonwealth Advisors (M.D. Louisiana).  On November 8, 2012, the SEC announced it charged Commonwealth Advisers and its principal Walter Morales with engaging in a scheme to hide losses in hedge funds they were advising.  The … Continue reading

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Former Deloitte Partner Thomas Flanagan Sentenced to 21 Months For Insider Trading

SEC v. Thomas P. Flanagan, et al.,Case No. 10-cv-04885 (N.D. Ill.).  On October 31, 2012, the SEC announced that Thomas P. Flanagan was sentenced to 21 months of incarceration followed by supervised release of 12 months.  Flanagan must also pay … Continue reading

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CFTC Obtains $3 Million Judgment Against Brad Demuzio

CFTC v. Brad L. Demuzio, et al., Case No. 4:12-cv-00183-MHW.  On November 1, 2012, the CFTC announced it obtained a $3 million dollar judgment against Brad Demuzio and his company.  The company defaulted and Demuzio settled.  Without admitting or denying … Continue reading

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SEC Charges Michael Van Guilder With Insider Trading

SEC v. Michael Van Guilder, Case No. 12-cv2839 (D. Colo.).  On October 26, 2012, the SEC announced it charged Michael Van Gilder, the CEO of the Van Gilder Insurance Company, with insider trading.  Van Gilder learned from an insider that … Continue reading

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