SEC Enforcement Actions – November, 2011

Florida State and Federal Securities and Investment Fraud, Misrepresentation and Sale of Unregistered Securities Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq.

The Securities and Exchange Commission periodically announces enforcement actions that have recently been filed by it. Periodically, we review these actions and provide selective information concerning what we feel relate to important issues or matters that have a wide alleged impact on investors.

November, 2011:

Securities and Exchange Commission v. Atlantis Technology Group and Christopher M. Dubeau, Civil Action No. 10-61824-CIV-ZLOCH (S.D. Fla.) Read More.

November, 2011:

SEC Charges New York-Based Hedge Fund Managers ThinkStrategy Capital and Chetan Kapur with Securities Fraud

The Securities and Exchange Commission (SEC) recently filed a civil injunctive action charging ThinkStrategy Capital Management, LLC (“ThinkStrategy”) and its sole managing director, Chetan Kapur, with deceptive conduct in connection with two hedge funds that they managed and advised: ThinkStrategy Capital Fund (“Capital Fund”) and TS Multi-Strategy Fund (“Multi-Strategy Fund”). Read More.

November, 2011:

Securities and Exchange Commission v. James N. Fry, Michelle W. Palm, and Arrowhead Capital Management LLC, Civil Action No. 0:11-CV-03303 RHK/JJK (D. Minn.)

SEC CHARGES TWO MINNESOTA-BASED FUND MANAGERS WITH FACILITATING PETTERS PONZI SCHEME. Read More.

November, 2011:

FEDERAL COURT ENTERS JUDGMENTS OF PERMANENT INJUNCTION AND OTHER RELIEF AGAINST DEFENDANTS CHRISTOPHER M. DUBEAU AND ATLANTIS TECHNOLOGY GROUP

Securities and Exchange Commission v. Atlantis Technology Group and Christopher M. Dubeau, Civil Action No. 10-61824-CIV-ZLOCH (S.D. Fla.). Read More.

November, 2011:

SEC Charges Philadelphia-Based Business Owner For Defrauding Investors Through an Offering Scheme Involving U.S. Treasury Strips

The Securities and Exchange Commission recently filed a Complaint in United States District Court for the Southern District of New York charging Tyrone L. Gilliams and his company TL Gilliams, LLC with fraud for misappropriating approximately $5 million from investors through an offering scheme involving U.S. Treasury STRIPS. Read More.

November, 2011:

SEC v. Frank C. Calmes, Lynn D. Rowntree, James E. Pratt, and Manny J. Shulman, Case No. 09-80524-CIV0-ZLOCH (S.D. Fla. April 2, 2009). Read More.

November, 2011:

SEC CHARGES ILLINOIS-BASED HEDGE FUND ADVISER AND ITS OWNER FOR FRAUDULENT CONDUCT

The Securities and Exchange Commission (SEC) recently announced that it filed a civil injunctive action against Patrick G. Rooney (“Rooney”), a resident of Oakbrook, Illinois, and his company, Solaris Management, LLC (“Solaris Management”), the investment adviser to the Solaris Opportunity Fund, LP (“Solaris Fund”) for the fraudulent misuse of the Solaris Fund’s assets and other illegal conduct. Read More.

November, 2011:

SEC v. Brian Hollnagel and BCI Aircraft leasing, Inc., Civil Action No. 1:07-cv-4538 (N.D. Ill.) (Bucklo, J.)

FORMER BROKER PLEADS GUILTY TO OBSTRUCTION OF JUSTICE IN CONNECTION WITH TWO SEC EXAMINATIONS

The Securities and Exchange Commission (“Commission”) recently announced that Robert Carlsson (“Carlsson”), a former broker, pled guilty to obstruction of justice in connection with his false representations to the SEC during two separate examinations of Carlsson’s broker-dealer in 2006 and 2007 by examination staff of the Commission’s Chicago Regional Office. Read More.

November, 2011:

Securities and Exchange Commission v. Garfield Taylor, Inc., et al., Case No. 1:11CV02054 (D.D.C.)

SEC CHARGES PERPETRATOR OF WASHINGTON-AREA PONZI SCHEME

Recently, the Securities and Exchange Commission (SEC) charged a Bethesda, Md. man and several family members and friends with conducting a multi-million dollar Ponzi scheme targeting investors in the Washington D.C. metropolitan area. Read More.

November, 2011:

SEC v. Myron Weiner, Civil Action No. 11-CV-5731 (E.D.N.Y.) (DLI)(RER)

SEC Charges Myron Weiner with Unregistered Sales of Spongetech Delivery Systems, Inc. Stock

The Securities and Exchange Commission (SEC) filed a civil injunctive action against Myron Weiner, relating to his unregistered sale of shares of Spongetech Delivery Systems, Inc. (“Spongetech”) in 2009. Read More.