Monthly Archives: April 2013

CFTC Imposes $400,000 in Sanctions and a 140-Day Trading Ban on Kevin McLaren and Edward Gorman for Unlawful Wash Sales

In the Matter of Kevin McLaren and Edward Gorman, CFTC Docket No. 13-22.  On April 29, 2013, the CFTC announced the filing of a settled Order finding that Kevin McLaren and Edward Gorman engaged in illegal wash sales.  According to … Continue reading

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SEC Sues the City of Victorville, California and Others for Defrauding Municipal Bond Investors

SEC v. City of Victorville et al., Case No. EDCV13-0776 JAK (DIBx).  On April 29, 2013, the SEC announced charges against the City of Victorville, Calif., the Southern California Logistics Airport Authority, Kinsell, Newcomb & DeDios (“KND”), Jeffrey Kinsell, Janees … Continue reading

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SEC Announces Non-Prosecution Agreement with Ralph Lauren Corporation Related to FCPA Misconduct

On April 22, 2013, the SEC announced it entered into a non-prosecution agreement (“NPA”) with Ralph Lauren Corporation.  The SEC decided not to charge the company with FCPA violations because of the company’s extensive cooperation.  This is the SEC’s first … Continue reading

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SEC Charges Mark Begelman with Insider Trading

SEC v. Mark D. Begelman, Case No. 9:13-cv-80396 (S.D. Fl.).  On April 22, 2013, the SEC announced it filed a settled insider trading case against Mark Begelman for trading based on confidential information obtained through his membership in the World … Continue reading

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SEC Charges Investment Adviser Umesh Tandon with Defrauding CalPERS

In the Matter of Umesh Tandon, SEC Admin. Proc. No. 3-15282.  On April 18, 2013, the SEC announced it filed a settled administrative proceeding against Umesh Tandon.  According to the SEC Order, Tandon told CalPERS that his advisery firm Simran … Continue reading

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SEC Files Insider Trading Charges against Trader Joseph Mancuso

SEC v. Joseph Mancuso, Case No. 13-cv-2555 (S.D.N.Y.).  On April 17, 2013, the SEC announced it filed insider trading charges against Joseph Mancuso who used to be a trader at registered broker-dealer Schottenfeld Group.  The SEC alleges that Mancuso obtained … Continue reading

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SEC Charges Brokers Jeffrey Stebbins and Corbin Jones with Stealing Investments

SEC v. Jeffrey Stebbins and Corbin Jones, Case No. 2:13-cv-00755 SRB (D. Az.).  On April 16, 2013, the SEC announced it filed fraud charges against Jeffrey Stebbins and Corbin Jones.  The SEC alleges that Stebbins and Jones solicited investors for … Continue reading

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SEC Files Settled Insider Trading Charges Against Investment Banker Richard Bruce Moore

SEC v. Richard Bruce Moore, Case No. 13-cv-2514 HB (S.D.N.Y.).  On April 16, 2013, the SEC announced it filed settled insider trading charges against Richard Bruce Moore.  According to the SEC, Moore purchased American Depositary Receipts (“ADRs”) of  Tomkins plc, … Continue reading

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SEC Charges Parker Drilling Company with FCPA Violations

SEC v. Parker Drilling Company, Case No. 1:13-cv-461 (E.D. Va.).  On April 16, 2013, the SEC announced it filed settled FCPA charges against Parker Drilling Company, an international drilling services firm.  According to the SEC, Parker Drilling authorized payments to … Continue reading

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CFTC Settles Fraud Action against Robert Cannone and National Equity Holdings for $3.6 Million

CFTC v. National Equity Holdings, Inc., et al., Case No. SACV 11-1718-JVS (C.D. Cal.).  On April 15, 2013, the CFTC announced it settled with Defendants Robert Cannone and National Equity Holdings, Inc.  The CFTC alleged that Cannone, by and through … Continue reading

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