Category Archives: HedgeCo News
SEC Obtains Judgments Against Unregistered Brokers for Conducting a Fraudulent Offering of Crypto Asset Securities
(HedgeCo.Net) The U.S. District Court for the Northern District of Illinois has entered final judgments against Chicago Crypto Capital LLC (“CCC”), its owner, Brian Amoah, and former salesman Elbert “Al” Elliott, whom the SEC previously charged with violations of the […]
CFTC and State Regulators in California and Hawaii Charge Los Angeles Area Precious Metals Dealer in Ongoing $61 Million Fraud Targeting the Elderly
(HedgeCo.Net) The Commodity Futures Trading Commission and state regulators in California and Hawaii have announced they have filed a joint civil enforcement action in the U.S. District Court for the Central District of California against a precious metals dealer, its […]
SEC Charges Red Rock Secured, Three Executives in Fraud Scheme Targeting Retirement Accounts
(Hedgeco.Net) The Securities and Exchange Commission has announced charges against El Segundo, California-based Red Rock Secured LLC, its CEO, Sean Kelly, and two of its former Senior Account Executives, Anthony Spencer and Jeffrey Ward, in connection with a fraudulent scheme […]
Philips to Pay More Than $62 Million to Settle FCPA Charges
(HedgeCo.Net) The Securities and Exchange Commission has announced that Amsterdam-based Koninklijke Philips N.V. will pay more than $62 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) with respect to conduct related to its sales of […]
HSBC and Scotia Capital Hit with $22 Million in Combined Penalties for Widespread Recordkeeping Failures
(HedgeCo.Net) The Securities and Exchange Commission has charged HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. for widespread and longstanding failures by both firms and their employees to maintain and preserve electronic communications. To settle the charges, HSBC and […]
Swap Dealer Pays Over $6.8 Million for Violations of Swap Dealer Business Conduct Standards
(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against New York-based, provisionally registered swap dealer Mizuho Capital Markets LLC for trade practice violations of the Swap Dealer Business Conduct Standards in the Commodity […]
SEC Obtains Judgment Against Former CEO and General Counsel Who Raised Millions of Dollars from Investors Through False Statements
(HedgeCo.Net) The United States District Court for the District of Connecticut has entered a final judgment against former Connecticut resident Ronald D. Swanson ordering him to pay over $927,000 in disgorgement and penalties in a securities offering fraud action previously […]
Investment Adviser and Fund Trustees Charged with Liquidity Rule Violations
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against investment adviser Pinnacle Advisors LLC for aiding and abetting Liquidity Rule violations by a mutual fund it advised and whose Liquidity Risk Management Program it administered. The SEC also charged […]
Advisory Firm Charged with Breach of Fiduciary Duty in Connection with Use of Leveraged ETFs
(HedgeCo.Net) The Securities and Exchange Commission has announced settled charges against Fargo, North Dakota-based investment adviser Classic Asset Management LLC (CAM) and indirect part-owner and investment adviser representative Douglas G. Schmitz for breach of fiduciary duty in connection with the […]
SEC Alleges Son and Father-in-Law Touted Faith to Target Church Members in $20 Million Offering Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Brett M. Bartlett, his father-in-law Scott A. Miller, and their companies for fraudulent securities offerings that raised at least $20.5 million, some of which Bartlett and Miller misused for personal expenses. According […]
SEC Charges Florida Trader with Microcap Stock Manipulation Scheme and Obtains Final Judgment
(HedgeCo.Net) The U.S. District Court for the Southern District of New York has entered a final consent judgment against Carlos Eduardo Reyes Alvarez of Port Saint Lucie, Florida, permanently enjoining him from violating the antifraud and anti-manipulation provisions of the […]
Court Orders Former Head of International Binary Options Scheme to Pay More than $561,000 in Restitution
(HedgeCo.Net) The Commodity Futures Trading Commission has announced the U.S. District Court for the Northern District of Ohio entered a consent order on April 27 for a permanent injunction, restitution, and equitable relief against Jared J. Davis, a former resident […]
