Category Archives: HedgeCo News
SEC Charges Investment Adviser and Principal in Abusive Naked Short Selling Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged investment adviser Sabby Management LLC and its managing partner, Hal D. Mintz, with fraud in connection with a long running scheme involving misrepresentations and violations of rules for short selling and order […]
SEC Obtains Final Judgment Against Investment Adviser
(HedgeCo.Net) A federal district court in the Western District of New York has entered a final judgment by default against Tarek D. Bahgat, an investment adviser formerly based in Amherst, New York. The SEC’s complaint alleged that Bahgat misappropriated over […]
Coinbase Charged for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency
(Hedgeco.Net) Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program. The Securities and Exchange Commission has charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, […]
SEC Files 13 Charges Against Binance Entities and Founder Changpeng Zhao
(HedgeCo.Net) Charges include operating unregistered exchanges, broker-dealers, and clearing agencies; misrepresenting trading controls and oversight on the Binance.US platform; and the unregistered offer and sale of securities. The Securities and Exchange Commission has charged Binance Holdings Ltd. (“Binance”), which operates […]
SEC Charges Massachusetts-Based Firm and Its Co-Owners with Acting as Unregistered Securities Dealers
(HedgeCo.Net) The Securities and Exchange Commission (the “SEC”) has announced charges against Auctus Fund Management, LLC (“Auctus Management”) and its co-owners Alfred Sollami of Brookline, Massachusetts and Louis Posner of Mansfield, Massachusetts, for failing to register as securities dealers with […]
Former Coinbase Manager and His Brother Agree to Settle Insider Trading Charges Relating to Crypto Asset Securities
(HedgeCo.Net) The Securities and Exchange Commission has announced that former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges that they engaged in insider trading through a scheme to trade ahead of multiple announcements regarding […]
Former Wells Fargo Senior Executive to Pay $3-Million to Settle Fraud Charges for Misleading Investors About Abusive Sales Practices
(HedgeCo.Net) The Securities and Exchange Commission has announced its settlement with the former head of Wells Fargo & Co.’s Community Bank, Carrie L. Tolstedt, in which she has agreed to pay a $3 million penalty stemming from charges brought in […]
CFTC Charges Five Defendants with Fraudulent Digital Assets Trading Scheme
(HedgeCo.Net) The Commodity Futures Trading Commission has filed a civil enforcement action in the U.S. District Court for the Central District of California against David Carmona formerly of Elmhurst, New York, Juan Arellano Parra formerly of Chino, California, Moses Valdez […]
CFTC Orders an Advisor to Pay More Than $4 Million for Fraud and Registration Violations
(Hedgeweek) The Commodity Futures Trading Commission has issued an order filing and simultaneously settling charges against Sharief Deona McDowell, of Loma Linda, California, for fraud in connection with options on commodity futures contracts by a commodity trading advisor (CTA) and […]
SEC Shuts Down WeedGenics $60 Million Cannabis Offering Fraud
(HedgeCo.Net) The Securities and Exchange Commission obtained an emergency order to halt an alleged ongoing offering fraud and Ponzi-like scheme by Integrated National Resources Inc. (INR), which does business as WeedGenics, and its owners, Rolf Max Hirschmann and Patrick Earl […]
SEC Obtains Final Judgment Against Investment Adviser in Microcap Stock Trading Scheme
(HedgeCo.Net) The U.S. District Court for the Central District of California entered a final consent judgment against Thomas Carter Ronk imposing injunctive relief, a five-year officer-and-director bar, a five-year penny stock bar, and a civil penalty. According to the SEC’s […]
Texas Resident Charged with Acting as an Unregistered Broker
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Daniel E. Levin, from Dallas-Fort Worth, with acting as an unregistered broker-dealer. According to the SEC’s complaint filed on May 9, 2023, Levin solicited investors to purchase approximately $2.6 million […]
