Category Archives: HedgeCoVest News
Halal Capital Founder Charged with Multimillion Dollar Fraudulent Scheme That Targeted Muslim Community
(HedgeCo.Net) The Securities and Exchange Commission has charged Jebara Igbara, the founder of Halal Capital LLC, in connection with a more than $8 million scheme that targeted investors from the New York metropolitan area’s Muslim community. According to the SEC’s […]
SEC Obtains Settlement Against Investment Professionals Charged with Cherry Picking
(HedgeCo.Net) The Securities and Exchange Commission has obtained a final consent judgment against defendants Ramiro Jose Sugranes, Lina Maria Garcia, and two investment firms that the SEC had previously charged with an illegal cherry picking scheme, as well as a […]
Incarcerated Felon and Five Friends Charged in $2 Million Scheme Defrauding Multiple Broker-Dealers.
(HedgeCo.Net) The Securities and Exchange Commission has charged six individuals, including a federal inmate, for conducting a freeriding scheme that defrauded multiple broker-dealers. The SEC’s complaint alleges that from May 2019 to early January 2021, Syed Arham Arbab, 25, and […]
SEC Obtains Final Judgment Against Perpetrator of Boiler Room Scheme
(Hedgeco.Net) The United States District Court for the Eastern District of New York has entered a final consent judgment against Mark Alan Lisser. The final judgement permanently enjoins Lisser from violating the antifraud provisions of the federal securities. According to […]
SEC Proposes New Oversight Requirements for Certain Services Outsourced by Investment Advisers
(HedgeCo.Net) The Securities and Exchange Commission has proposed a new rule and rule amendments under the Investment Advisers Act of 1940 to prohibit registered investment advisers from outsourcing certain services and functions without conducting due diligence and monitoring of the […]
SEC Obtains Final Judgment Against Investment Advisers Charged with Defrauding Their Advisory Clients
(HedgeCo.Net) The Securities and Exchange Commission has obtained a final judgment against defendants Cetera Advisors, LLC and Cetera Advisor Networks, LLC, whom the SEC previously charged with defrauding their advisory clients by failing to disclose several sources of compensation. According […]
SEC Charges Canadian Company and Former Senior Executive with Accounting Fraud
(HedgeCo.Net) The Securities and Exchange Commission today charged Cronos Group Inc., a Nasdaq-listed cannabis company based in Toronto, for improperly accounting for millions of dollars of revenue and for other accounting misconduct in multiple reporting periods. The SEC also charged […]
SEC Charges Mattel with Financial Misstatements and Former PwC Audit Partner with Improper Professional Conduct
(HedgeCo.Net) The Securities and Exchange Commission today announced that California-based Mattel Inc. has agreed to pay $3.5 million to settle charges relating to misstatements in its third and fourth quarter 2017 financial statements. Separately, the SEC is initiating litigation against […]
SEC Charges Former NewAge CEO with Orchestrating Multi-Year Fraud
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against Brent David Willis, the former Chief Executive Officer (“CEO”) of NewAge, Inc. (formerly known as New Age Beverages Corporation), alleging that Willis engaged in a multi-year fraud by disseminating numerous […]
Federal Court Concludes Receivership in CFTC Ponzi Scheme Action Resulting in the Recovery of Over $1 Billion.
(HedgeCo.Net) The Commodity Futures Trading Commission has announced the successful conclusion of the receivership in CFTC v. Walsh, et al., a $1.3 billion Ponzi scheme case the CFTC filed in 2009. On September 19, the U.S. District Court for the […]
SEC Obtains Final Judgment Against Recidivist Investment Adviser Charged with Defrauding Retirees
(HedgeCo.Net) The Securities and Exchange Commission obtained a final judgment against California-based investment adviser Keith Springer and his firm, Springer Investment Management, Inc. dba Springer Financial Advisors (SFA), whom were charged with defrauding hundreds of retail clients, most of whom […]
New Jersey Development Firm and Four Executives Charged With $600 Million Ponzi-like Fraud
(HedgeCo.Net) The Securities and Exchange Commission has charged New Jersey-based National Realty Investment Advisors LLC (NRIA) and four of its former executives with running a Ponzi-like scheme that raised approximately $600 million from about 2,000 investors. The SEC’s complaint alleges […]
