Category Archives: Insider Trading
New York Firm Charged with Acting as Unregistered Investment Advisers to Former Russian Billionaire
Firm and Owner’s failures to register prevented oversight of more than $7 billion in assets ((HedgeCo.Net) The Securities and Exchange Commission has filed charges against Concord Management LLC of Tarrytown, New York, and its owner and principal, Michael Matlin, for […]
Lyft Hit with $10m Penalty For Failing to Disclose Board Member’s Financial Interest in Private Shareholder’s Stock Transaction
(HedgeCo.Net) The Securities and Exchange Commission has charged Lyft Inc. for failing to disclose a company board director’s role in a shareholder’s sale of approximately $424 million worth of private shares of Lyft’s stock prior to the company’s initial public […]
CFTC Orders Utah Man to Pay More Than $2.5 Million for Leveraged Bitcoin Fraud
(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against Jacob Orvidas. The order finds Orvidas fraudulently solicited at least four people (pool participants) to trade leveraged bitcoin in a commodity pool, lost almost […]
Connecticut Advisory Firm GlennCap and its Owner Charged with Cherry-Picking
(HedgeCo.Net) The Securities and Exchange Commission has settled fraud charges against GlennCap LLC, a Connecticut-based investment advisory firm, and its owner, Jonathan Vincent Glenn, for allocating profitable securities trades to favored accounts, including GlennCap’s own accounts and client accounts that […]
Minnesota Based Company and Founder Charged in Alleged Fraudulent Securities Offering
(HedgeCo.Net) The Securities and Exchange Commission has filed a complaint in federal court in Minnesota alleging that Robyn A. Bowman and her company Phoenix Asset Group, LLC perpetrated a fraudulent offering. The SEC’s complaint alleges that Bowman and Phoenix raised […]
Alternative Investment Platform YieldStreet Charged for Misleading Investors
(HedgeCo.Net) The Securities and Exchange Commission has announced a settled action against New York-based YieldStreet Inc. and its registered investment adviser subsidiary, YieldStreet Management LLC (together, YieldStreet), for failing to disclose critical information to investors in a $14.5 million asset-backed […]
SEC Charges Privately Held Monolith Resources for Using Separation Agreements that Violated Whistleblower Protection Rules
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against Monolith Resources LLC, a privately held energy and technology company headquartered in Lincoln, Nebraska, for using employee separation agreements that violated the SEC’s whistleblower protection rules. According to the SEC’s […]
Linus Financial Agrees to Settle SEC Charges of Unregistered Offer and Sale of Securities
(HedgeCo.Net) The Securities and Exchange Commission has settled charges against Linus Financial, Inc. for failing to register the offers and sales of its retail crypto lending product, the Linus Interest Accounts. The SEC determined not to impose civil penalties against […]
Private Equity Firm Prime Group Charged for Inadequate Disclosure of Fees
NY-based company to pay $20.5 million to settle charges. (HedgeCo.Net) The Securities and Exchange Commission has charged Prime Group Holdings LLC, a private equity firm focused on alternative real estate asset classes, for failing to adequately disclose millions of dollars […]
Five Advisory Firms Charged for Custody Rule Violations
(HedgeCo.Net) The Securities and Exchange Commission has filed charges against five investment advisers for failing to comply with requirements related to the safekeeping of client assets. Three of the firms were also charged with failing to timely update SEC disclosures […]
CFTC Orders Goldman Sachs to Pay $5.5 Million for Recordkeeping Violations and Violating a Prior Commission Order
(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against Goldman Sachs & Co. The order finds Goldman violated the cease-and-desist provision of a prior order and committed recordkeeping violations in connection with its […]
Accountant Charged for Aiding and Abetting a $110 Million Ponzi Scheme
(HedgeCo.Net) The Securities and Exchange Commission files charges against William V. Conn, Jr., a certified public accountant of Sandy Springs, Georgia, for participating in a Ponzi scheme perpetrated by John Woods using an investment fund Woods created and controlled, Horizon […]
