Articles Posted in Commercial and Business Dispute Litigation

Joseph Paul Zada Indicted for Fraud The Securities and Exchange Commission (Commission) recently announced that on September 4, 2013, a Grand Jury sitting in the United States District Court for the Southern District of Florida returned an Indictment charging Joseph Paul Zada with 21 counts of mail fraud, two counts of wire fraud, two counts…

The Securities and Exchange Commission Recently Charged 23 Firms with Short Selling Violations in Crackdown on Potential Manipulation in Advance of Stock Offerings: The Securities and Exchange Commission (Commission) recently announced enforcement actions against 23 firms for short selling violations as the agency increases its focus on preventing firms from improperly participating in public stock…

SEC Approves Registration Rules for Municipal Advisors The Securities and Exchange Commission recently voted to adopt rules establishing a permanent registration regime for municipal advisors as required by the Dodd-Frank Act. The rule is currently slated to become effective 60 days after publication in the Federal Register. The Final Rule: The Commission has adopted a…

In the Matter of Sarkauskas & Associates, Inc. and James M. Sarkauskas Recently, the Securities and Exchange Commission issued a settled Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Section 203(e), 203(f) and 203(k) of the Investment Advisers Act of 1940, and Section 9(b) of the…

Securities and Exchange Commission Charges Operator of Miami-Dade County’s Largest Hospital with Misleading Investors about Financial Condition The Securities and Exchange Commission (“Commission”) recently charged the operator of the largest hospital in Miami-Dade County with misleading investors about the extent of its deteriorating financial condition prior to an $83 million bond offering. An SEC investigation…

Securities and Exchange Commission Charges Purported Money Manager in New York Who Schemed Investors and Lied to Commission Examiners The Securities and Exchange Commission (Commission) recently charged the owner of a New York-based investment advisory firm with defrauding investors while grossly exaggerating the amount of assets under his management. The SEC alleges that Fredrick D.…

Securities and Exchange Commission Defendant Indicted in $30 Million Ponzi Scheme and Affinity Fraud Targeting Haitian-American Investors The Securities and Exchange Commission recently announced that on July 2, 2013, the United States Attorney’s Office for the Southern District of Florida filed criminal charges against George Louis Theodule, a defendant in a now settled SEC action.…

SEC Files Civil Injunctive Action Against Alleged Perpetrator and Unregistered Broker in Fraudulent Promissory Note Offering Recently, the Securities and Exchange Commission filed a civil injunctive action in the United States District Court for the District of Colorado against Brian G. Elrod for allegedly conducting a fraudulent offering of promissory notes for which Nova Dean…

SEC Enforcement Proceedings: Anthony John Johnson Sanctioned: The Securities and Exchange Commission recently announced that Anthony John Johnson (Johnson) has been barred from the securities industry. The sanction was ordered in an administrative proceeding before an administrative law judge, following an August 2011 conviction for conspiracy to commit securities, mail, and wire fraud and an…

Securities and Exchange Commission v. Bernard H. Butts, Jr., Fotios Geivelis, Jr., also known as Frank Anastasio, Worldwide Funding III Limited LLC, Douglas J. Anisky, Sidney Banner, Express Commercial Capital LLC, James Baggs (Defendants), Bernard H. Butts, Jr. PA, Butts Holding Corporation, Margaret A. Hering, Global Worldwide Funding Ventures, Inc., and PW Consulting Group LLC…