SEC fines Health Net Inc. for severance agreements that removed financial incentives for whistleblowing LeapRate

August 17, 2016 BY Valentina Kirilova

SEC fines Health Net Inc. for severance agreements that removed financial incentives for whistleblowing

The Securities and Exchange Commission (SEC) has announced that a California-based health insurance provider has agreed to pay a $340,000 penalty for illegally using severance agreements requiring outgoing employees to waive their ability to obtain monetary awards from the SEC’s whistleblower program. According to the SEC’s order, Health Net Inc. violated federal securities laws by taking away…

August 12, 2016 BY Valentina Kirilova

SEC charges stockbroker and friend with insider trading

The Securities and Exchange Commission (SEC) has charged a stockbroker and his friend with participating in an insider trading scheme to profit in advance of two major announcements out of a pharmaceutical company. The SEC alleges that Paul T. Rampoldi coordinated the insider trading with two other brokers at his firm as well as a then-IT executive…

August 11, 2016 BY LeapRate Staff

SEC protecting whistleblowers by issuing $265,000 fine to company pressuring employees

The U.S. Securities and Exchange Commission today announced that an Atlanta-based building products distributor is settling charges that it violated securities laws by using severance agreements that required outgoing employees to waive their rights to monetary recovery should they file a charge or complaint with the SEC or other federal agencies. BlueLinx Holdings Inc. has…

August 11, 2016 BY LeapRate Staff

Ex Philadelphia Eagles player Merrill Robertson Jr. charged with running multi million dollar investment fraud and Ponzi scheme

Robertson and his business partner Sherman C. Vaughn Jr. diverted nearly $6 million from investors to pay for personal expenses.

July 13, 2016 BY Mike Fox

Blockchain company SolidX files with SEC for new Bitcoin ETF

SolidX Partners Inc., a New York based blockchain technology company, today announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed launch of the SolidX Bitcoin Trust. The ETF will seek to provide shareholders with exposure to the daily change in the U.S. dollar…

June 23, 2016 BY LeapRate Staff

UK trader Idris Dayo Mustapha caught hacking US brokerage accounts to fluff shares he owned

Well here is an interesting twist on how to make money defrauding traders. Until you get caught. The U.S. Securities and Exchange Commission has announced that it has obtained an emergency court order to freeze the assets of a United Kingdom resident charged with hacking into the online brokerage accounts of U.S. investors, making unauthorized trades…

June 22, 2016 BY LeapRate Staff

SEC freezes assets of investment advisor Ash Narayan who defrauded millions from pro athletes

The athletes reportedly bilked by Narayan include NFL quarterback Mark Sanchez and MLB pitchers Jake Peavy and Roy Oswalt.

June 09, 2016 BY LeapRate Staff

SEC pays second largest Whistleblower award to date at $17 million

The U.S. Securities and Exchange Commission today announced a whistleblower award of more than $17 million to a former company employee whose detailed tip substantially advanced the agency’s investigation and ultimate enforcement action. The award is the second-largest issued by the SEC since its whistleblower program began nearly five years ago. The SEC issued a…

June 07, 2016 BY LeapRate Staff

Akamai hit by SEC for bribing Chinese officials

The U.S. Securities and Exchange Commission today announced non-prosecution agreements (NPAs) with two unrelated companies that will forfeit ill-gotten gains connected to bribes paid to Chinese officials by foreign subsidiaries. Massachusetts-based cloud services and network optimization provider Akamai Technologies, Inc. (NASDAQ:AKAM) has agreed to pay $652,452 in disgorgement plus $19,433 in interest. According to the NPA,…

June 03, 2016 BY Mike Fox

SEC charges NYC Forex trader who lied on track record, hid millions in losses

The Securities and Exchange Commission today charged a New York City-based trader with defrauding investors out of millions of dollars by misrepresenting her investment track record, the profitability of her investments, and her use of investor funds. The SEC alleges that Haena Park and her firm - referred to as "Phaetra" and/or "Argenta" - touted her supposedly…

Tag: SEC