Articles Posted in SEC Enforcement Actions 2012

Securities and Exchange Commission v. The Investors Registry, LLC, and Michael J. Southworth, Civil Action No. [2:12-cv-02214-MEA] (D. Ariz., filed October 16, 2012). SEC Charges Arizona Man With Acting As An Unregistered Broker and Unlawful Touting The Securities and Exchange Commission recently announced that it filed a civil action in the United States District Court…

SEC v. Yorkville Advisors, LLC, Mark Angelo and Edward Schinik, Civil Action No. 12-CV-7728 (S.D.N.Y.) (GBD) (filed October 17, 2012) SEC Charges Hedge Fund Adviser and Two Executives with Fraud The Securities and Exchange Commission recently announced the filing of a civil enforcement action in the United States District Court for the Southern District of…

Final Judgments Entered Against Derek F.C. Elliott On October 5, 2012 the Honorable James C. Mahan, United States District Judge for the District of Nevada, entered a Final Judgment against Derek F.C. Elliott (Elliott). On May 24, 2012, the United States Securities and Exchange Commission filed a complaint, in the United States District Court for…

In the Matter of Rick Cho On October 15, 2012, the Securities and Exchange Commission (Commission) issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings and Imposing Remedial Sanctions (Order) against Rick Cho. The Order found that Cho was the managing member, president, and chief…

In the Matter of Andre J. Hayden On October 15, 2012, the Securities and Exchange Commission (Commission) issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Remedial Sanctions (Order) against Andre J. Hayden. The Order finds that Hayden acted as an unregistered broker,…

In the Matter of Scott E. Johnson On October 15, 2012, the Securities and Exchange Commission (Commission) issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (Order) against Scott E. Johnson (Johnson). In the Order, the Division of Enforcement found that…

In the Matter of Stephen B. Blankenship October, 2012: The United States Securities and Exchange Commission (Commission) recently announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Section 203(f) of the Investment Advisers Act of 1940, Making Findings and Imposing Remedial Sanctions (Order)…

SEC Charges Four Brokers With Defrauding Customers in $18.7 Million Scheme: October, 2012: The Securities and Exchange Commission recently charged four brokers who formerly worked on the cash desk at a New York-based broker-dealer with illegally overcharging customers $18.7 million by using hidden markups and markdowns and secretly keeping portions of profitable customer trades. The…

Securities and Exchange Commission v. GEI Financial Services, Inc., Norman Goldstein, and Laurie Gatherum, Civil Action No. 12-7927 (N.D. IL, filed October 3, 2012) SEC CHARGES CHICAGO-BASED INVESTMENT ADVISER AND ITS OWNERS FOR FRAUD The Securities and Exchange Commission recently charged Chicago-based GEI Financial Services, Inc. (GEI Financial), a registered investment adviser, and its owners,…

SEC Charges Repeat Violator in South Florida With Fraudulently Offering Investments Tied to Oil Drilling Projects October, 2012: The Securities and Exchange Commission recently announced that it has obtained an emergency court order to freeze the assets of a South Florida man who has been charged with fraudulently offering investments in oil drilling projects. The…