Articles Posted in Affinity Fraud

Securities and Exchange Commission v. We The People, Inc., of The United States; Richard K. Olive and Susan L. Olive; William G. Reeves, Esq., Civil Action No. 2:13-cv-14050; 2:13-civ-14047; 2:13-cv-14048 SEC Charges We The People, Inc., of The United States and Three Individuals In Offering Fraud Scheme Recently, the Securities and Exchange Commission filed complaints…

Securities and Exchange Commission v. Sean David Morton, Vajra Productions, LLC, 27 Investments, LLC, and Magic Eight Ball Distributing, Inc., defendants, and Melissa Morton and Prophecy Research Institute, relief defendants, Civil Action No. 10-CV-1720 (SDNY) (KBF) District Court Grants Securities and Exchange Commission’s Motions for Default Judgment against a Nationally Known Psychic and his Corporate…

Securities and Exchange Commission v. A Chicago Convention Center, LLC, Anshoo Sethi, and Intercontinental Regional Center Trust of Chicago, LLC, Civil Action No. 13-cv-982 SEC HALTS $150 MILLION INVESTMENT SCHEME TO DUPE FOREIGN INVESTORS AND EXPLOIT IMMIGRATION PROGRAM The Securities and Exchange Commission recently announced charges and an asset freeze against an individual living in…

SEC Charges Husband and Wife in Florida with Defrauding Seniors Investing in Purported Charity The Securities and Exchange Commission recently charged a husband and wife who raised millions of dollars selling investments for a purported charitable organization in Tallahassee, Fla., while defrauding senior citizens and significantly exaggerating the amount of contributions actually made to charity.…

SEC Charges Trader in Houston-Area Investment Scheme Targeting Lebanese and Druze Communities The Securities and Exchange Commission recently charged a day trader in Sugar Land, Texas, with defrauding investors in his supposed high-frequency trading program and providing them falsified brokerage records that drastically overstated assets and hid his massive trading losses. The SEC alleges that…

Defendant in SEC Action Pleads Guilty to Criminal Charges and is Barred from the Securities Industry The Securities and Exchange Commission recently announced that Arnett L. Waters of Milton, Massachusetts, a principal of a broker-dealer and investment adviser who is a defendant in a securities fraud action filed by the Commission in May 2012, has…

Securities and Exchange Commission v. Ellis, Civil Action No. 0:12-cv-62211 SEC Charges South Florida Man with Recruiting Victims of Ponzi Scheme The Securities and Exchange Commission recently charged a South Florida man with defrauding at least 14 investors by soliciting them to invest in a Ponzi scheme. A significant number of the victims were members…

Securities and Exchange Commission v. A.L. Waters Capital, LLC, et al., Civil Action No. 12-cv-10783-DJC (District of Massachusetts) United States of America v. Arnett L. Waters, Criminal No. 12-cr-10336-DJC (District of Massachusetts) Defendant in SEC Action Charged by United States Attorney’s Office for the District of Massachusetts The Securities and Exchange Commission recently announced that…

SEC Charges Connecticut-Based Broker With Stealing Investor Funds to Pay Mortgage and Shopping Bills September, 2012: The Securities and Exchange Commission recently charged a broker and his company based in Danbury, Conn., with stealing at least $600,000 from customers who he persuaded to withdraw money from their brokerage accounts he managed at other firms and…

SEC Brings Charges in Puerto Rico-Based Ponzi Scheme Targeting Evangelical Christians and Factory Workers August, 2012: The Securities and Exchange Commission recently charged a Puerto Rico resident and his company with conducting a Ponzi scheme that targeted evangelical Christians and factory workers in Puerto Rico. The SEC alleges that Ricardo Bonilla Rojas and his firm…