Articles Posted in SEC Enforcement Actions 2013

China-Based Company and Former CFO to Pay Penalties for Disclosure and Accounting Violations The Securities and Exchange Commission recently charged a China-based petrochemical company and its former chief financial officer with accounting and disclosure violations, and they agreed to pay more than $1 million combined to settle the charges. The SEC alleges that Keyuan Petrochemicals,…

Securities and Exchange Commission v. We The People, Inc., of The United States; Richard K. Olive and Susan L. Olive; William G. Reeves, Esq., Civil Action No. 2:13-cv-14050; 2:13-civ-14047; 2:13-cv-14048 SEC Charges We The People, Inc., of The United States and Three Individuals In Offering Fraud Scheme Recently, the Securities and Exchange Commission filed complaints…

Securities and Exchange Commission v. Howard Brett Berger and Michelle Berger, CV-12 4728 (E.D. N.Y. September 21, 2012) SEC Obtains Judgment Against Investment Adviser In Connection With Cherry-Picking Scheme The United States Securities and Exchange Commission (“Commission”) announced that on January 15, 2013, a final judgment was entered by consent against Howard B. Berger (“Berger”),…

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. Sean David Morton, Vajra Productions, LLC, 27 Investments, LLC, and Magic Eight Ball Distributing, Inc., defendants, and Melissa Morton and Prophecy Research Institute, relief defendants, Civil Action No. 10-CV-1720 (SDNY) (KBF) District Court Grants Securities and Exchange Commission’s Motions for Default Judgment against a Nationally Known Psychic and his Corporate…

SEC Charges N.Y.-Based Brokerage Firm with Defrauding Investors in a Clean Energy Company to Earn Lucrative Commissions The Securities and Exchange Commission recently announced fraud charges against a New York-based brokerage firm and two brokers who allegedly used misleading sales tactics to steer investors toward risky investments in a purported clean energy company so the…

Securities and Exchange Commission v. Timothy J. Roth, et al., Civil Action No. 11-cv-02079 (C.D. Ill.) Former Investment Adviser Sentenced to 12 Years for Misappropriating Client Assets The Securities and Exchange Commission recently announced that on January 31, 2013, the Honorable Michael M. Mihm of the United States District Court for the Central District of…

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. A Chicago Convention Center, LLC, Anshoo Sethi, and Intercontinental Regional Center Trust of Chicago, LLC, Civil Action No. 13-cv-982 SEC HALTS $150 MILLION INVESTMENT SCHEME TO DUPE FOREIGN INVESTORS AND EXPLOIT IMMIGRATION PROGRAM The Securities and Exchange Commission recently announced charges and an asset freeze against an individual living in…

SEC Charges Husband and Wife in Florida with Defrauding Seniors Investing in Purported Charity The Securities and Exchange Commission recently charged a husband and wife who raised millions of dollars selling investments for a purported charitable organization in Tallahassee, Fla., while defrauding senior citizens and significantly exaggerating the amount of contributions actually made to charity.…