Regulation
Supreme Court Rules Investors Cannot Sue for Omissions in Disclosures
The ruling still permits the SEC to take enforcement actions.
Tag: Securities Fraud
SEC, DOJ Charge Dozy Mmobuosi in ‘Massive’ Fraud
The Nigerian businessman with claimed assets of more than $7 billion was widely reported to have been close to buying English soccer club Sheffield United.
Regulation
SEC Tightens Fund Naming Rules
The new rule applies an 80% investment policy that extends far wider than just ESG funds.
Litigation Finance Firm Founder Pleads Guilty to Securities Fraud
Jaeson Birnbaum faces up to 20 years in prison for using investor funds for personal use and to pay earlier investors.
Risk
Trader Is Accused of Speculative Trading That Bankrupted His Employer
Keith Wakefield allegedly lost $30 million from unauthorized risky bond trades, which forced IFS Securities to go out of business.
Asset Allocation
Twitter to Pay $809.5 Million to Settle Securities Fraud Lawsuit
The social media company was accused of concealing from investors its stagnant user growth and declining user engagement.
Asset Allocation
Former HeadSpin CEO Arrested in Alleged $80 Million Fraud
Manish Lachwani is accused of grossly overstating sales figures when courting investors.
Manager Selection
Investment Firm CEO Gets 5 Years in Prison for Securities Fraud
L-R Managers co-founder Donald LaGuardia has also been ordered to pay $6.6 million in fines and restitution.
Regulation
SEC, DOJ Charge Hedge Fund Trader in Alleged Front-Running Scheme
Sean Wygovsky is accused of taking in $3.6 million from insider trading at a Canadian asset management firm.
Investment Firm Owner Guilty of Insider Trading, Fraud Scheme
Donald Blakstad allegedly used material nonpublic information to rake in over $7 million
PE Firm Founder Pleads Guilty to $58 Million Manhattan Real Estate Fraud
Eric Malley induced more than 300 people to invest in purportedly debt-free luxury properties.
Former Live Well CEO Convicted in $200 Million Bond Fraud
Michael Hild allegedly called his scheme to mismark bonds a ‘self-generating money machine.’
Five Charged in Offering Fraud, Stock Manipulation, Ranging from Oil to Pot
Prosecutors say the defendants unwittingly conspired with an undercover agent who was posting as a corrupt stock promoter.
Pensions
SEC Charges Hedge Fund Manager with $38 Million Fraud
Andrew Franzone allegedly used misappropriated funds to buy an airplane hangar for his race car collection.
Pensions
Fintech CEO Pleads Guilty to COVID Loan Fraud
Sheng-Wen Cheng claimed celebrities, athletes, and even a deceased Penn State football coach were on his payroll.