Articles Posted in SEC Enforcement Actions 2011

Investment Advisor Fraud, Mismanagement and Misrepresentation Litigation Lawyer, Russell L. Forkey, Esq. December, 2011: Securities and Exchange Commission v. Evolution Capital Advisors, et al., Civ. Action No. 4:11-cv-02945 (United States District Court for the Southern District of Texas, Houston Division) (Miller, J.). Following Contested Evidentiary Hearing, SEC Obtains Preliminary and Permanent Injunctions and Related Relief…

Excessive or Unnecessary Mark-up fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. December, 2011: The Securities and Exchange Commission recently charged a former securities trader at a San Diego-based brokerage firm with orchestrating an illegal trading scheme. The SEC alleges that Aurelio Rodriguez acted in concert with a Mexican investment adviser,…

Municipal Bond Fraud and Misrepresentation FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. December, 2011: The Securities and Exchange Commission recently charged GE Funding Capital Market Services with securities fraud for participating in a wide-ranging scheme involving the reinvestment of proceeds from the sale of municipal securities. GE Funding CMS agreed to settle the…

Fraudulent Pump and Dump Litigation Attorney, Russell L. Forkey, Esq. December, 2011: SEC v. Heart Tronics, Inc., et al., Case No. SACV-11-1962-JVS (ANx) (C.D. Cal.) SEC Charges Heart Tronics, Inc. and Six Individuals in Connection with a Series of Fraudulent Schemes Pumping Company Stock The Securities and Exchange Commission filed a lawsuit today in federal…

Sale of Unregistered Securities Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. December, 2011: SEC v. Myron Weiner, Civil Action No. 11-CV-5731 (E.D.N.Y.) (DLI)(RER) SEC Obtains Injunction Against Myron Weiner for Unregistered Sales of Spongetech Delivery Systems, Inc. Stock; Weiner Ordered to Pay Over $1.3 Million The United States Securities and Exchange Commission recently…

Securities and Investment Fraud Litigation Attorney, Russell L. Forkey, Esq. December, 2011: SEC v. Marcin Malarz et al., Case No. 11-cv-8803 (N.D. Ill., filed December 12, 2011). SEC Charges Three Individuals in Chicago-Area Offering Fraud The Securities and Exchange Commission recently announced that it filed a civil injunctive action alleging fraud in the unregistered offer…

Public Shell Packaging Fraud and Misrepresentation Litigation Lawyer, Russell L. Forkey, Esq. December, 2011: SEC Charges “Shell Packagers” and Several Others in Penny Stock Scheme Recently, the Securities and Exchange Commission charged a shell packaging firm and several others involved in a penny stock scheme to issue purportedly unrestricted shares in the public markets. The…

Penny Stock and Micro-Cap Stock Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. December, 2011: Securities and Exchange Commission v. Geoffrey J. Eiten and National Financial Communications Corp., 1:11-CV-12185 (District of Massachusetts, Complaint filed December 12, 2011). SEC CHARGES MASSACHUSETTS-BASED PENNY STOCK PROMOTER WITH MAKING FRAUDULENT STATEMENTS The Securities and Exchange…

Municipal Bond Fraud Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. December, 2011: SEC Charges Wachovia With Fraudulent Bid Rigging in Municipal Bond Proceeds Wachovia Agrees to $148 Million Settlement With SEC and Other Authorities The Securities and Exchange Commission (SEC) recently charged Wachovia Bank N.A. with fraudulently engaging in secret arrangements with bidding…

Fraudulent Over Valuation Investment Fraud Litigation and FINRA Arbitration Lawyer, Russell L. Forkey, Esq. December, 2011: Securities and Exchange Commission v. Michael R. Balboa and Gilles T. De Charsonville, Civil Action No. 8731 (S.D.N.Y. filed December 1, 2011) SEC CHARGES HEDGE FUND MANAGER AND BROKER WITH MULTI-MILLION DOLLAR OVERVALUATION SCHEME The Securities and Exchange Commission…