Articles Posted in Securities and Securities Fraud

Securities and Exchange Commission v. OM Investment Management LLC, Gignesh Movalia, and Edwin V. Gaw, Civil Action No. 1:13-cv -23486-Martinez (S.D. Fla., filed September, 2013) SEC Charges Tampa-Based Adviser with Fabricating Statements and Making Unauthorized and Undisclosed Investments The Securities and Exchange Commission recently charged a formerly SEC-registered Tampa-based investment adviser, OM Investment Management LLC,…

Securities and Exchange Commission v. Frank Dappah and Yatalie Capital Management, et al., Civil Action No. 3:13-cv-00546 (W.D.N.C.) SEC Charges Charlotte Investment Advisors with Excessive Fee Scheme Recently, the Securities and Exchange Commission filed an action in federal court in the Western District of North Carolina, charging Frank Dappah of Charlotte, NC, and his firm,…

Securities and Exchange Commission v. Irwin Boock, et al., Civil Action No. Civil Action No. 09 CV 8261 (S.D.N.Y) (DLC) SEC Obtains Final Judgments Against Attorney Involved in 22 Corporate Hijackings and a Relief Defendant Recently, the United States District Court for the Southern District of New York entered a consent final judgment against Nicolette…

Florida Elder Abuse and Financial Loss FINRA Arbitration and Litigation Attorney: Federal Regulators Issue Guidance on Reporting Financial Abuse of Older Adults Seven federal regulatory agencies recently issued guidance to clarify that the privacy provisions of the Gramm-Leach-Bliley Act generally permit financial institutions to report suspected elder financial abuse to appropriate authorities. The Gramm-Leach-Bliley Act…

Securities and Exchange Commission v. Chan Tze Ngon and Jiang Xiangyuan, Civil Action No. 13-cv-6828 (S.D.N.Y.) The Securities and Exchange Commission recently charged the former CEO of an education services provider based in China with stealing tens of millions of dollars from investors in a U.S. public offering, and charged another executive with illegally dumping…

Securities and Exchange Commission v. Ronald E. Walblay, Energy Securities, Inc., and RyHolland Fielder, Inc., Civil Action No. 9:13-cv-80978 (S.D. FL.) The Securities and Exchange Commission recently charged the owner of two Florida-based companies with defrauding investors in five oil and gas offerings by misrepresenting such key facts as the amount of available reserves, the…

SEC Charges Operators of Boiler Room Scheme Targeting Seniors to Invest in Football-Related Scam The Securities and Exchange Commission recently charged the operators of a South Florida-based boiler room scheme with defrauding seniors and other investors they pressured into purchasing stock in a company that purportedly developed ground-breaking technology for the National Football League to…

SEC Charges Atlanta-Area Defendants with Securities Fraud Recently, the Securities and Exchange Commission filed an action in federal court in the Northern District of Georgia, charging Stephen L. Kirkland (Kirkland), a Marietta, Georgia resident, and his company The Kirkland Organization, Inc. (TKO), a Georgia corporation, with violations of the federal securities laws for making false…

JPMorgan Chase Agrees To Pay $200 Million and Admits Wrongdoing to Settle SEC Charges – Firm Must Pay $920 Million in Total Penalties in Global Settlement The Securities and Exchange Commission (Commission) recently charged JPMorgan Chase & Co. with misstating financial results and lacking effective internal controls to detect and prevent its traders from fraudulently…

New Issue – South Florida Common and Preferred Stock and Bond Investment Loss – FINRA Arbitration and Litigation Attorney: A “New Issue” is a stock or bond being offered to the investing public for the first time, the distribution of which is covered by various Securities and Exchange Commission (SEC) rules and regulations. New issues…