Articles Posted in Fraud and Misrepresentation

Securities and Exchange Commission v. Robert A. Gist, et al., Civil Action No. 1:13-cv-01833-AT (N.D.Ga., May 31, 2013) SEC Charges Atlanta Attorney with Converting Investor Funds Recently, the Securities and Exchange Commission charged Robert A. Gist (“Gist”), an Atlanta attorney and former sports agent, and Gist, Kennedy & Associates, Inc. (“Gist Kennedy”) (collectively, “Defendants”), a…

Securities and Exchange Commission v. John A. Grant, Sage Advisory Group, LLC and Benjamin Lee Grant, Civil Action No. 1:11-CV-11538 (GAO) (D. Mass.) SEC Obtains Final Judgment and Issues Administrative Orders Against John A. (“Jack”) Grant The Securities and Exchange Commission recently announced that on May 17, 2013, the Honorable George A. O’Toole Jr. of…

The Securities and Exchange Commission recently announced that the subject of an enforcement inquiry in Florida has has been criminally charged for obstructing justice and lying to SEC investigators looking into his real estate securities offerings to investors. The U.S. Attorney’s Office for the Southern District of Florida has filed criminal charges against former broker…

The Securities and Exchange Commission recently charged NASDAQ with securities laws violations resulting from its poor systems and decision-making during the initial public offering (IPO) and secondary market trading of Facebook shares. NASDAQ has agreed to settle the SEC’s charges by paying a $10 million penalty – the largest ever against an exchange. Exchanges have…

Naked Option – Florida Breach of Fiduciary Duty, Negligent Supervision and Mismanagement FINRA Arbitration and Litigation Attorney: A Naked Option is an option for which the buyer or seller has no underlying security position. A writer of a naked Call Option, therefore does not own a Long Position in the stock on which the call…

Securities and Exchange Commission v. Blake Richards, Civil Action No. 1:13-CV-1729 (N.D. Ga.) SEC Charges Atlanta-Area Registered Representative and Registered Investment Adviser Representative with Securities Fraud On May 23, the Securities and Exchange Commission filed an emergency action seeking a temporary restraining order and other emergency relief in federal court in the Northern District of…

Joseph Hilton a/k/a Joseph Yurkin Barred from the Securities Industry Joseph Hilton a/k/a Joseph Yurkin (Hilton), of Boca Raton, Florida, has been barred from the securities industry. The sanction was ordered in an administrative proceeding before an administrative law judge, following a February 2013 injunction against violations of the antifraud and registration provisions of the…

Final Judgments Entered against Connecticut-Based Investment Adviser and His Firm Charged with Stealing Investor Funds The Securities and Exchange Commission (“Commission”) recently announced that on May 16, 2013, the United States District Court for the District of Connecticut entered final judgments by consent in a previously filed enforcement action against Stephen B. Blankenship and his…

Securities and Exchange Commission v. Charles J. Dushek, et al., Civil Action No. 13-cv-3669 (N.D. Ill., filed May 16, 2013) SEC Charges Chicago-Area Father and Son Conducting Cherry-Picking Scheme At Investment Firm The Securities and Exchange Commission (“Commission”) filed a civil injunctive complaint on May 16, 2013, in the United States District Court for the…

In the Matter of Ziad K. Abdelnour The Commission today issued an Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 15(b) and 21C of the Securities Exchange Act of 1934, and Section 9(b) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions…