Category Archives: HedgeCo News
Founder of American Bitcoin Academy Online Crypto Course Charged with Fraud Targeting Students
(HedgeCo.Net) The Securities and Exchange Commission has announced that Brian Sewell and his company, Rockwell Capital Management, agreed to settle fraud charges in connection with a scheme that targeted students taking Sewell’s online crypto trading course known as the American […]
Founder of $1.7 Billion “HyperFund” Charged in Alleged Crypto Pyramid Scheme and Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Xue Lee (aka Sam Lee) and Brenda Chunga (aka Bitcoin Beautee) for their involvement in a fraudulent crypto asset pyramid scheme known as HyperFund that raised more than $1.7 billion from investors […]
Northern Star SPAC Charged for Misrepresentations in its IPO-Related Disclosures
(HedgeCo.Net) The Securities and Exchange Commission has announced that Northern Star Investment Corp. II, a special purpose acquisition company (SPAC), has agreed to settle charges that it made misleading statements in forms filed with the SEC as part of its […]
Chicago-based Aon Investments Charged with Misleading Pennsylvania Public Employees’ Pension Fund
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against Aon Investments USA Inc., a Chicago-based registered investment adviser, and the firm’s former partner, Claire P. Shaughnessy, for misleading their client, the Pennsylvania Public School Employees’ Retirement System (PSERS), about […]
Morgan Stanley To Pay $249 Million to settle Fraud Charges
(HedgeCo.Net) The Securities and Exchange Commission has charged investment banking giant Morgan Stanley & Co. LLC and the former head of its equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information about the sale […]
J.P. Morgan to Pay $18 Million for Violating Whistleblower Protection Rule
(HedgeCo.Net) The Securities and Exchange Commission has announced settled charges against J.P. Morgan Securities LLC (JPMS) for impeding hundreds of advisory clients and brokerage customers from reporting potential securities law violations to the SEC. JPMS agreed to pay an $18 […]
Future FinTech CEO Charged With Fraud and Disclosure Failures
(HedgeCo.Net) The Securities and Exchange Commission has charged Shanchun Huang with manipulative trading in the stock of Future FinTech Group Inc., using an offshore account shortly before he became Future FinTech’s CEO in 2020. The SEC also charged Huang with […]
SEC Charges Former CEO of Medical Device Startup with $41 Million Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged Laura Tyler Perryman, the former CEO and co-founder of Florida-based medical device startup Stimwave Technologies Inc., with defrauding investors out of approximately $41 million by making false and misleading statements about one […]
Five Unregistered Brokers, Four Companies Charged in Widespread Pre-IPO Fraud Scheme Netting $88m
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Raymond J. Pirrello, Jr., Marcello Follano, Robert Cassino, Anthony DiTucci, Joseph Rivera, and their New Jersey or New York-based companies Prior 2 IPO Inc., Late Stage Asset Management, LLC, Pre […]
SEC Charges Investment Adviser for Custody Rule Violations and Disclosure Failures
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against Brite Advisors USA, Inc. (f/k/a deVere USA, Inc.) (“Brite USA”), a NY-based SEC-registered investment adviser, for failing to comply with Commission requirements for the safekeeping of client assets and for […]
Kraken Charged for Operating as an Unregistered Securities Exchange, Broker, Dealer
(HedgeCo.Net) The Securities and Exchange Commission has charged Payward Inc. and Payward Ventures Inc., together known as Kraken, with operating Kraken’s crypto trading platform as an unregistered securities exchange, broker, dealer, and clearing agency. According to the SEC’s complaint, since […]
Investment Adviser Alleged to Have Engaged in Fraudulent “Cherry-Picking” Scheme
(HedgeCo.Net) The Securities and Exchange Commission has announced that it has reached settlements in its case against Defendant Bell Rock Capital, LLC, and its principal, Defendant M. Cassandra Toroian, for operating a multi-year “cherry-picking” scheme that defrauded Bell Rock clients. […]
