Articles Posted in SEC Enforcement Actions 2012

Securities and Exchange Commission v. Thomas D. Coldicutt, Jr., et al., Case No. 4:12-CV-00505 (E.D.Tex.) (filed August 13, 2012) SEC Charges Six Individuals in $6 Million “Shell-Factory” Scheme Recently, the SEC filed suit in the United States District Court for the Eastern District of Texas against Thomas D. Coldicutt, Jr., Elizabeth L. Coldicutt, Robert C.…

SEC Charges Wells Fargo for Selling Complex Investments Without Disclosing Risks August, 2012: The Securities and Exchange Commission recently charged Wells Fargo’s brokerage firm and a former vice president for selling investments tied to mortgage-backed securities without fully understanding their complexity or disclosing the risks to investors. The SEC found that Wells Fargo improperly sold…

SEC Charges College Football Hall of Fame Coach in $80 Million Ponzi Scheme August, 2012: The Securities and Exchange Commission recently announced fraud charges against a former college football coach who teamed with an Ohio man to conduct an $80 million Ponzi scheme that included other college coaches and former players among its victims. The…

Securities and Exchange Commission v. James V. Mazzo, David L. Parker and Eddie C. Murray, Case No. SACV-121327JST-(JPRX) (C.D. Cal. Aug. 17, 2011) NEW CHARGES IN INSIDER TRADING CASE INCLUDE FORMER CEO AND PROFESSIONAL BASEBALL PLAYER The Securities and Exchange Commission recently announced a second round of charges in an insider trading case involving former…

Investment Contract – Ponzi Scheme August, 2012: The Securities and Exchange Commission recently announced fraud charges and an emergency asset freeze to halt a $600 million Ponzi scheme on the verge of collapse. The emergency action assured that victims can recoup more of their money and potentially avoid devastating losses. The SEC alleges that online…

Selling Away and Outside Business Activity Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. February, 2012: The Securities and Exchange Commission Sustains Disciplinary Action Against Howard Braff The SEC recently announced that it has sustained disciplinary action against Howard Braff, formerly registered as a general securities representative, general securities principal, and…

Broker/Dealer and Investment Advisor Fraud, Mismanagement and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. February, 2012: SEC v. Mark Anthony Longoria, et al., Civil Action No. 11-CV- 0753 (SDNY) (JSR) SEC Obtains Final Judgments on Consent against Jason Pflaum and Walter Shimoon The SEC recently announced that the Honorable Jed S. Rakoff,…

Investment Advisor and Broker – Dealer Fraud, Mismanagement and Misrepresentation Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. February, 2012: United States v. Jeremy Blackburn and Anthony Banas, Criminal Action No. 09 CR 976 (N.D. Ill. March 1, 2010) The U.S. Securities and Exchange Commission (Commission) recently announced that on February 15, 2012, co-founders…

Investment Advisor and Broker – Dealer Fraud, Mismanagement and Misrepresentation FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. February, 2012: Securities and Exchange Commission v. Verde Retirement LLC, Verde FX Nevada, LLC, Covenant Capital Partners, and Steven L. Hamilton, United States District Court for the Southern District of California, Case No. 3:12-cv-00445-DMS-BLM (S.D. Cal.)…

Investment and Securities Fraud and Misrepresentation Litigation and FINRA Arbitraton Attorney, Russell L. Forkey, Esq. February, 2012: SEC v. Pentagon Capital Management PLC et al., 08 Civ. 3324 (RWS) (S.D.N.Y.) COURT FINDS PENTAGON CAPITAL MANAGEMENT PLC AND LEWIS CHESTER LIABLE FOR SECURITIES FRAUD Recently, United States District Judge Robert W. Sweet of the Southern District…