Articles Posted in SEC Enforcement Actions 2013

South Florida Elder Abuse Insurance and Annuity Fraud and Misrepresentation Attorney Russell L. Forkey, Esq. The Securities and Exchange Commission (SEC) recently charged a self-described institutional trader in Colorado with defrauding elderly investors into making purported investments in government-secured bonds as he used their money to pay his mortgage. The SEC alleges that Gary C.…

Florida Boiler Room, Penny Stock (Low Priced) and Ponzi Scheme FINRA Arbitration and State and Federal Court Litigation Attorney: The Securities and Exchange Commission (Commission) Obtains Final Judgment against Defendants Charged with Perpetrating $35 Million International Boiler Room Scheme Recnetly, the Commission announced that the United States District Court for the Central District of California…

Security and Exchange Commission Obtains Summary Judgment against Defendants Charged With Defrauding Investors in Fictitious Offering The Securities and Exchange Commission (SEC) recently announced that the United States District Court for the District of Columbia granted the SEC’s motion for summary judgment against all primary defendants and certain relief defendants in a civil action arising…

The Securities and Exchange Commission recently announced an emergency asset freeze to halt a Ponzi scheme involving U.S. and New Zealand-based companies peddling sham investment opportunities ranging from a bank trading program to kidney dialysis clinics. The SEC alleges that Christopher A.T. Pedras, who has residences in Turlock, Calif., and New Zealand, misled his initial…

In the Matter of OX Trading, LLC, optionsXpress, Inc., and Thomas E. Stern The Commission issued an Order Making Findings and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 as to OX Trading, LLC and optionsXpress, Inc. (OX Order). The OX Order finds…

In the Matter of John Micciola: The Securities and Exchange Commission recently announced the issuance of 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 John Micciola (Micciola), a resident of Freehold, New Jersey. The Order finds that, on August…

Securities and Exchange Commission v. CKB Holdings Ltd., et al., Civil Action No. 13-5584 (E.D.N.Y., filed October 9, 2013) SEC Halts $20 Million Pyramid Scheme Targeting Asian-American Community The Securities and Exchange Commission recently announced charges and asset freezes against the operators and promoters of a worldwide pyramid scheme targeting members of the Asian-American community.…

Securities and Exchange Commission v. Brett A. Cooper, Global Funding Systems LLC, Dream Holdings, LLC, Fortitude Investing, LLC, Peninsula Waterfront Development, LP, and REOP Group Inc. and David H. Frederickson and The Law Offices of David H. Frederickson, Civil Action No. 1:13-cv-05781-RMB-AMD (D.N.J.) and 1:13-cv-05787-RMB-AMD (D.N.J.) SEC Charges New Jersey Resident in Prime Bank Investment…

The Securities and Exchange Commission Halts a Texas-Based Scheme Targeting Foreign Investors Seeking U.S. Residency Through EB-5 Visa Program: The Securities and Exchange Commission recently announced fraud charges against a husband and wife in Texas for stealing funds from foreign investors under the guise of an investment opportunity to create U.S. jobs and a path…

SEC Charges South Florida Woman Behind Ponzi Scheme Targeting Colombian-American Community The Securities and Exchange Commission recently charged a woman living in South Florida with defrauding investors in a Ponzi scheme and affinity fraud that targeted the local Colombian-American community and involved purported investments in immigration bail bonds. The SEC alleges that Jenny E. Coplan…