Category Archives: HedgeCoVest News
Russell Todd Burkhalter and His Atlanta-Firm Charged With $300 Million Ponzi Scheme
(Hedgeco.Net) The Securities and Exchange Commission today announced that it obtained a preliminary injunction, asset freeze, and other emergency relief against Atlanta-based Drive Planning LLC and its founder and CEO, Russell Todd Burkhalter, to halt a $300 million real estate […]
Twenty-Six Firms to Pay $390 Million Combined to Settle Charges for Recordkeeping Failures
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against 26 broker-dealers, investment advisers, and dually-registered broker-dealers and investment advisers for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications. The firms admitted […]
Founder of the BitClout blockchain protocol Charged with Fraud and Unregistered Offering of Crypto Asset Securities
(HedgeCo.Net) The Securities and Exchange Commission has charged Nader Al-Naji with perpetrating a multi-million-dollar fraudulent crypto asset scheme involving a social media platform called BitClout and its native token of the same name (herein, “BTCLT”). According to the SEC’s complaint, […]
SEC Awards More Than $37 Million to a Whistleblower
(HedgeCo.Net) The Securities and Exchange Commission has announced an award of more than $37 million to a whistleblower who provided information not previously known to the SEC and which significantly contributed to a successful enforcement action. The whistleblower also met […]
SEC Charges R.R. Donnelley & Sons Co. with Cybersecurity-Related Controls Violations
(HedgeCo.Net) The Securities and Exchange Commission as announced that R.R. Donnelley & Sons Company (RRD), a global provider of business communication and marketing services, agreed to pay over $2.1 million to settle disclosure and internal control failure charges relating to […]
Terraform and Kwon to Pay $4.5 Billion Following Fraud Verdict
(HedgeCo.Net) The Securities and Exchange Commission has announced that Terraform Labs PTE, Ltd. and Do Kwon agreed to pay more than $4.5 billion following a unanimous jury verdict holding them liable for orchestrating a years-long fraud involving crypto asset securities […]
JAG Capital Advisors and its Founder Joshua Goltry Charged with Defrauding Investors
(HedgeCo.Net) The Securities and Exchange Commission has charged Joshua Goltry and his investment management firm, JAG Capital Advisors LLC (JAG Advisors), in connection with a three-year scheme to defraud investors of at least $3 million. According to the SEC’s complaint, […]
SEC Charges Three New Yorkers for Raising More Than $184 Million Through Pre-IPO Fraud Schemes
(HedgeCo.Net) The Securities and Exchange Commission has charged three individuals with fraud for selling unregistered membership interests in LLCs that purported to invest in shares of pre-IPO companies, first on behalf of StraightPath Venture Partners LLC, the subject of the […]
Audit Firm BF Borgers and Its Owner Charged with Massive Fraud Affecting 1,500 SEC Filings
(HedgeCo.Net) The Securities and Exchange Commission has charged audit firm BF Borgers CPA PC and its owner, Benjamin F. Borgers (together, “Respondents”), with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits […]
SEC Charges Five Investment Advisers for Marketing Rule Violations
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against five registered investment advisers for Marketing Rule violations. All five firms have agreed to settle the SEC’s charges and to pay $200,000 in combined penalties. The five advisory firms are: […]
Arista Networks Founder Andy Bechtolsheim Charged with Insider Trading
(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges against Andreas “Andy” Bechtolsheim, the founder and Chief Architect of Silicon Valley-based technology company Arista Networks, Inc. To settle the SEC’s charges, Bechtolsheim agreed to pay a civil penalty […]
SEC Charges NY Advisory Firm for Disclosure Failures Ahead of Ryder Acquisition Bid
(Hedgeco.Net) The Securities and Exchange Commission has settled charges against New York-based investment adviser HG Vora Capital Management LLC for its failure to make timely ownership disclosures in the lead-up to its May 2022 acquisition bid for trucking fleet company […]
