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Tag Archives: Fraud
SEC Obtains Asset Freeze and Appointment of Receiver In Fraud Case Against Hedge Fund Adviser Hochfeld Capital Management And Its Principal Berton Hochfeld
SEC v. Berton Hochfeld et al., Case No. 12-cv-8202 (S.D.N.Y.). On November 26, 2012, the SEC announced it obtained a consent judgment in its case against Berton M. Hochfeld and Hochfeld Capital Management, L.L.C., ordering injunctions, asset freezes, the appointment of a … Continue reading
Posted in Securities
Tagged Fraud, Hedge Fund, Investment Advisers Act, SEC, Securities Act, Securities Exchange Act
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SEC Settles With J.P Morgan For $296.9 Million Related to Mortgage-Backed Securities
SEC v. J.P. Morgan Securities LLC, EMC Mortgage, LLC, Bear Stearns Asset Backed Securities I, LLC, Structured Asset Mortgage Investments II, Inc., SACO I, Inc., and J.P. Morgan Acceptance Corporation I, Case No. 1:12-cv-01872 RLW(D.D.C.). On November 16, 2012, the … Continue reading
SEC Settles Fraud Case Related To Deepwater Horizon Oil Spill With BP for $525 Million
SEC v. BP p.l.c, Case No. 2:12-cv-02774 (E.D. La.). On November 15, 2012, the SEC announced a settlement with BP in connection with claims the company mislead investors while the Deepwater Horizon oil rig was leaking oil into the Gulf … Continue reading
CFTC Charges Matthew Marshall Taylor With Fraud For Faking And Concealing Trades
CFTC v. Matthew Marshall Taylor, Case No. 12-civ-8170 (S.D.N.Y.). On November 8, 2012, the CFTC announced fraud charges against Matthew Marshall Taylor. According to the CFTC’s complaint, Taylor was a Vice President and trader for a large Futures Commission Merchant … Continue reading
SEC Charges Anand Sekaran With Defrauding Clients
SEC v. Anand Sekaran and Wasson Capital Advisors, Ltd., Case No. 12-cv-8199 JMP (S.D. N.Y.). On November 9, 2012, the SEC announced charges against Anand Sekaran and his firm Wasson Capital Advisors. The SEC alleges that Wasson’s strategy was to … Continue reading
Posted in Securities
Tagged Fraud, Investment Advisers Act, SEC, Securities Exchange Act
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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
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
Posted in Securities
Tagged Broker-Dealer, Collateralized Debt Obligation, Fraud, SEC, Securities Exchange Act
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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
Posted in Securities
Tagged Fraud, SEC, Securities Act, Securities Exchange Act, Unregistered Securities Transactions
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CFTC Obtains Order Requiring Joshua Russo To Pay More Than $1.8 Million To Settle Options Fraud
In the Matter of Joshua T.J. Russo, CFTC Docket No. 13-04. On October 26, 2012, the CFTC announced it obtained an administrative order requiring Joshua Russo to pay restitution of $960,000, a civil monetary penalty of $645,000, and barring him … Continue reading
CFTC Obtains Default Order Requiring Nicholas Cosmo To Pay $240 Million
CFTC v. Nicholas Cosmo et al., Case No. 2:09-cv-00351-KDW-ARL (E.D.N.Y). On October 25, 2012, the CFTC announced it obtained a default judgment against Nicholas Cosmo. Cosmo had engaged in a scheme to solicit investors to invest in bridge loans. Instead, … Continue reading
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