Articles Posted in SEC Enforcement Actions

SEC Charges Asset Manager Lied to Investors, Hid Major Losses While Boasting Remarkable Performance During Financial Crisis September, 2012: The Securities and Exchange Commission recently announced an emergency enforcement action against an asset manager who has boasted remarkable investment success throughout the global financial crisis while allegedly exaggerating the value of the assets he manages…

SEC Shuts Down San Diego-Based Real Estate Investment Fraud September, 2012: The Securities and Exchange Commission recently announced an asset freeze against a San Diego-based firm and its owner accused of running a real estate investment fraud that raised approximately $50 million from hundreds of investors nationwide. The SEC alleges that Western Financial Planning Corporation…

SEC 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…

Securities and Exchange Commission v. Renee White Fraser, Civil Action No. CV12-7574 PSG (AGRx) September, 2012: SEC Charges Public Relations Executive with Insider Trading in Client’s Stock Recently, the SEC charged the CEO of a Los Angeles-based public relations firm with insider trading on nonpublic information she learned from a client that was about to…

SEC Charges Radio Personality for Conducting Misleading Investment Seminars September, 2012: The Securities and Exchange Commission recently charged a nationally syndicated radio personality and financial advice author for spreading misleading information about his “Buckets of Money” strategy at a series of investment seminars that he and his company hosted for potential clients. The SEC’s Division…

SEC Charges Attorney and Two Other South Florida Residents in $27.5 Million Investment Fraud September, 2012: The Securities and Exchange Commission recently charged an attorney and two others living in South Florida for their roles in a $27.5 million investment scheme that led investors to believe they were purchasing securities consisting of “pre-sold” commodities contracts…

SEC Charges Florida Brokers for Defrauding Brazilian Public Pension Funds in Markup Scheme August, 2012: The Securities and Exchange Commission recently charged two former brokers in Miami with fraud for overcharging customers approximately $36 million by using hidden markup fees on structured notes transactions. The SEC alleges that Fabrizio Neves conducted the scheme while working…

Securities and Exchange Commission v. Wwebnet, Inc. and Robert L. Kelly, Civil Action No. 12-CV-6581 (S.D.N.Y. August 28, 2012) August, 2012: Recently, the Securities and Exchange Commission filed a civil action in the United States District Court for the Southern District of New York charging Wwebnet, Inc. (Wwebnet) and its chief executive officer, Robert L.…

SEC v. Eric Martin, Defendant and Robin Martin, Relief DefendantCivil Action No. 1:12-CV-02922-AT August, 2012: SEC Charges Eric Martin, former Vice President of Investor Relations of Carter’s Inc. with Insider Trading Recently, the Securities and Exchange Commission filed a civil injunctive action against Eric Martin, a 42 year old resident of Roswell, Georgia. The Commission…

Litigation Release No. 22460 / August 27, 2012 Securities and Exchange Commission v. Gary R. Marks, CV-12-4486-JSC (N.D. Cal., filed August 27, 2012). August, 2012: SEC Charges Former Sky Bell Hedge Fund Manager With Making Misrepresentations In Selling And Recommending His Hedge Funds Recently, the Securities and Exchange Commission filed a settled civil action in…