Articles Posted in SEC Enforcement Actions

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…

In the Matter of Douglas Alan Goldberg Recently, the United States Securities and Exchange Commission (Commission) announced that on September 27, 2012, the 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 Douglas Alan Goldberg, a former employee…

In the Matter of David Rubin Recently, the United States Securities and Exchange Commission (Commission) announed that on September 27, 2012, the 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 David Rubin, founder, president, and chief executive…

In the Matter of Candice D. Campbell: August, 2012: The Securities and Exchange Commission recently announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940 (Order) against Candice D. Campbell (Campbell). In the Order, the Division of Enforcement alleges that beginning in or before April…

In the Matter of Angelica Aguilera: August, 2012: Recently, the Securities and Exchange Commission announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Order) against Angelica Aguilera. The Division of Enforcement (Division) alleges that Aguilera, former President of LatAm Investments, LLC, failed reasonably to…

Commission Charges Brokers for Defrauding Brazilian Public Pension Funds in Markup Scheme August, 2012: The Commission today filed a civil fraud action in the United States District Court for the Southern District of Florida against two former brokers in Miami for overcharging customers approximately $36 million by using hidden markup fees on structured note transactions.…

In the Matter of Jay T. Comeaux: August, 2012: The Securities and Exchange Commission recently announced the issuance of an Order Instituting Administrative Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 15(b) and 21C of the Securities Exchange Act of 1934, Sections 203(f) and 203(k) of the Investment Advisers Act of…

Commission Charges Oregon-Based Investment Adviser for Failing to Disclose Revenue Sharing Payments September, 2012: The Securities and Exchange Commission recently instituted a settled administrative proceeding against two Portland, Oregon-based investment advisory firms and their owner regarding the failure to disclose a revenue-sharing agreement and other potential conflicts of interest to clients. The SEC’s investigation found…