Category Archives: Insider Trading
Investment Fund Founder Charged In Alleged $25 Million Fraud Offering
(HedgeCo.Net) The Securities and Exchange Commission has charged William K. Ichioka, of New York, New York, with fraudulently raising $25 million from individual investors primarily in California and Oregon by making false claims about his investing success and promising large […]
SEC Secures Emergency Relief to Protect Binance.US Customers’ Assets
(Hedgeco.Net) The Securities and Exchange Commission has secured emergency relief in which the all the defendants in its litigation against Binance Holdings Limited, BAM Management US Holdings Inc., BAM Trading Services Inc., and Changpeng Zhao agreed to repatriate to the […]
Ohio Investment Adviser Charged with Misappropriating $1.3 Million from a Retail Investor
(HedgeCo.Net) The Securities and Exchange Commission has charged Patrick Thayer of Cincinnati, Ohio, previously a dually-registered representative and investment advisory representative, with misappropriating more than $1.3 million from an advisory client. The SEC’s complaint alleges that in November 2013, Thayer […]
SEC Charges Financial Advisor with Fraud for Stealing from Elderly Customers to Pay Personal Expenses
(HedgeCo.Net) The Securities and Exchange Commission has charged Douglas McKelvey, a former financial advisor with fraud for misappropriating more than $1.7 million from two elderly brokerage customers who were close relatives of McKelvey’s. The SEC’s complaint alleges that from June […]
SEC Charges Investment Adviser and Principal in Abusive Naked Short Selling Scheme
(HedgeCo.Net) The Securities and Exchange Commission has charged investment adviser Sabby Management LLC and its managing partner, Hal D. Mintz, with fraud in connection with a long running scheme involving misrepresentations and violations of rules for short selling and order […]
SEC Obtains Final Judgment Against Investment Adviser
(HedgeCo.Net) A federal district court in the Western District of New York has entered a final judgment by default against Tarek D. Bahgat, an investment adviser formerly based in Amherst, New York. The SEC’s complaint alleged that Bahgat misappropriated over […]
Coinbase Charged for Operating as an Unregistered Securities Exchange, Broker, and Clearing Agency
(Hedgeco.Net) Coinbase also charged for the unregistered offer and sale of securities in connection with its staking-as-a-service program. The Securities and Exchange Commission has charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, […]
SEC Files 13 Charges Against Binance Entities and Founder Changpeng Zhao
(HedgeCo.Net) Charges include operating unregistered exchanges, broker-dealers, and clearing agencies; misrepresenting trading controls and oversight on the Binance.US platform; and the unregistered offer and sale of securities. The Securities and Exchange Commission has charged Binance Holdings Ltd. (“Binance”), which operates […]
Former Coinbase Manager and His Brother Agree to Settle Insider Trading Charges Relating to Crypto Asset Securities
(HedgeCo.Net) The Securities and Exchange Commission has announced that former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges that they engaged in insider trading through a scheme to trade ahead of multiple announcements regarding […]
Former Wells Fargo Senior Executive to Pay $3-Million to Settle Fraud Charges for Misleading Investors About Abusive Sales Practices
(HedgeCo.Net) The Securities and Exchange Commission has announced its settlement with the former head of Wells Fargo & Co.’s Community Bank, Carrie L. Tolstedt, in which she has agreed to pay a $3 million penalty stemming from charges brought in […]
CFTC Charges Five Defendants with Fraudulent Digital Assets Trading Scheme
(HedgeCo.Net) The Commodity Futures Trading Commission has filed a civil enforcement action in the U.S. District Court for the Central District of California against David Carmona formerly of Elmhurst, New York, Juan Arellano Parra formerly of Chino, California, Moses Valdez […]
CFTC Orders an Advisor to Pay More Than $4 Million for Fraud and Registration Violations
(Hedgeweek) The Commodity Futures Trading Commission has issued an order filing and simultaneously settling charges against Sharief Deona McDowell, of Loma Linda, California, for fraud in connection with options on commodity futures contracts by a commodity trading advisor (CTA) and […]
