The U.S. Securities and Exchange Commission (SEC) opened fraud charges against four individuals and businesses related to them for offering illegal securities and for their participation in two microcap frauds. According to the SEC, the fraudulent schemes generated about $25 million in illegal profits for the individuals and their businesses. The SEC charges allege that…
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The US Securities and Exchange Commission (SEC) yesterday opened insider trading charges against a former senior Apple Inc.(NASDAQ:AAPL) attorney named Gene Daniel Levoff. According to SEC charges, Levoff was responsible for implementing Apple’s insider trading compliance measures when he used his position to buy Apple shares before quarterly earnings releases. Levoff served as Apple’s company…
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The Securities and Exchange Commission (SEC) has announced that a federal court in Florida has fined Woodbridge Group of Companies LLC and its former owner Robert H. Shapiro $1 billion. They have been charged with operating a Ponzi scheme that targeted retail investors. Woodbridge and its 281 related companies will have to pay $892 million…
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Back in September 2017, LeapRate reported that the Securities and Exchange Commission (SEC)' EDGAR system data has been hacked. Some individuals have extracted a nonpublic information to use for illegal trading, or as SEC Chairman Jay Clayton issued in his statement back then - the data may have been used for “illicit gain through trading”.…
Read moreThe Securities and Exchange Commission (SEC) has announced that it has charged JPMorgan Chase Bank N.A. with improper handling of “pre-released” American Depositary Receipts (ADRs). The financial services company has agreed to pay more than $135 million to settle the charges. The official announcement reads as follows: ADRs – U.S. securities that represent foreign shares…
Read moreThe Securities and Exchange Commission (SEC) has announced that it has charged 13 individuals and 10 companies for unlawfully selling securities of Woodbridge Group of Companies LLC to retail investors. The SEC has now charged 18 of Woodbridge’s highest-earning unregistered sales agents who sold more than $400 million of its securities to retail investors,” said Eric…
Read moreThe Securities and Exchange Commission (SEC) has informed that it has brought additional charges against a Long Island, New York-based boiler room previously sued for defrauding elderly and unsophisticated investors. The latest charges allege that First Choice Healthcare Solutions Inc. CEO Christian Romandetti, the boiler room, and four others, manipulated the company’s shares generating more…
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The Securities and Exchange Commission (SEC) has announced that ITG Inc. and its affiliate AlterNet Securities Inc. have agreed to pay $12 million to settle charges arising from ITG’s misstatements and omissions about the operation of the firm’s dark pool, POSIT, and ITG’s failure to establish adequate safeguards and procedures to protect POSIT subscribers’ confidential…
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The Securities and Exchange Commission (SEC) has announced charges against an investment adviser with a history of violating the securities laws for defrauding his close friends and community members. According to the SEC’s complaint filed Tuesday, from at least 2014 through at least 2017, Bruce J. Fixelle solicited investments from close friends he met through…
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The Securities and Exchange Commission (SEC) has announced that Credit Suisse Securities (USA) LLC has agreed to settle charges brought by the SEC and the Office of the New York Attorney General regarding material misrepresentations and omissions made in connection with its now-closed Retail Execution Services (RES) business’ handling of certain customer orders. The settlements…
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