Articles Posted in Ponzi Scheme News

Securities and Exchange Commission v. Steven Palladino, et al., Civil Action No. 13-11024-DPW Commission Obtains Temporary Restraining Order and Asset Freeze Against Massachusetts Man Who Defrauded Investors of At Least $5.5 Million The Securities and Exchange Commission recently announced that, on April 30, 2013, it filed an emergency enforcement action in federal district court in…

Securities and Exchange Commission v. Jeffrey Stebbins and Corbin Jones, Civil Action No. CV 13-755-PHX-SRB SEC Charges Two Arizona-Based Brokers with Defrauding Investors in Tankless Water Heater Venture The Securities and Exchange Commission recently filed a complaint in the United States District Court for the District of Arizona, charging two former brokers in Arizona with…

Securities and Exchange Commission v. Carrillo Huettel LLP, Luis J. Carrillo, Wade D. Huettel, Gibraltar Global Securities, Warren Davis, John B. Kirk, Benjamin T. Kirk, Dylan L. Boyle, James K. Hinton Jr., Luniel de Beer, Joel P. Franklin, Pacific Blue Energy Corporation, Tradeshow Marketing Company Ltd., and Dr. Luis Carrillo, Civil Action No. 13 Civ.…

Securities and Exchange Commission v. Delsa U. Thomas, et al., Civ. Action No. 3:13-cv-00739-L (N.D. Tex., Dallas Division, filed February 14, 2013) SEC Sues Dallas Investment Adviser Principal for Conducting a Fraudulent High-Yield Investment Scheme The Securities and Exchange Commission recently charged a Dallas investment adviser principal with defrauding investors out of $2.3 million in…

Securities and Exchange Commission v. Garfield Taylor, Inc., et al., Civil Action No. 1:11-CV-02054-RLW (District Court for the District of Columbia) SEC OBTAINS JUDGMENTS AGAINST FORMER OFFICERS OF GIBRALTAR ASSET MANAGEMENT GROUP, LLC Recently, the Securities and Exchange Commission announced that the Honorable Robert L. Wilkins, United States District Judge for the District of Columbia,…

Securities and Exchange Commission v. GLR Capital Management, LLC, GLR Advisors, LLC, John A. Geringer, and Relief Defendant GLR Growth Fund, L.P., Civil Action No. 12-02663 SEC FILES CHARGES AGAINST TWO OTHERS IN NORTHERN CALIFORNIA FUND MANAGER’S $60 MILLION SCHEME Recently the Securities and Exchange Commission filed additional charges in its case against a Northern…

Former Fair Finance Company CEO Sentenced to 50 Years in Prison for Conducting $200 Million Fraud Scheme The Securities and Exchange Commission (Commission) announced that on November 30, 2012, Timothy S. Durham, former CEO of Ohio-based Fair Finance Company (Fair Finance), was sentenced to 50 years in prison for orchestrating a $200 million scheme that…

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…

Federal Court Orders Oscar Hernandez and His Companies to Pay $1.4 Million in Penalties and Bars Him from the Commodities Industry for Operating a Commodity Pool Ponzi Scheme In a related criminal proceeding, Hernandez sentenced to 57 months imprisonment and ordered to pay restitution The U.S. Commodity Futures Trading Commission (CFTC) recently announced that it…

SEC v. Bradley A. Holcom, Civ. No. 3:12-cv-01623 (S.D. Cal.); SEC v. Jose L. Pinedo, Civ. No. 3:12-cv-01620 (S.D. Cal.). September, 2012: SEC Brings Charges in $42 Million Offering Fraud Targeting Seniors The Securities and Exchange Commission recently announced charges against Bradley A. Holcom, of Welches, Oregon, and Jose L. Pinedo, of San Diego, California,…