Articles Posted in SEC Enforcement Actions

South Florida Broker/Dealer Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. June, 2012: SEC Charges Florida Broker in Astrology-Based Ponzi Scheme The Securities and Exchange Commission recently charged that a former broker in Orlando, Fla., defrauded investors in an astrology-based Ponzi scheme. The SEC alleges that Gurudeo “Buddy” Persaud lured family,…

Investment Advisor and Broker Dealer Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney, Russell L. Forkey, Esq. June, 2012: SEC Charges Massachusetts Investment Adviser With Fraud and Obtains Preliminary Injunction and Asset Freeze The Securities and Exchange Commission recently announced that it has charged Gary J. Martel of Chelsea, Massachusetts with defrauding investors. The Commission’s…

Securities Fraud and Misrepresentation Litigation and FINRA Attorney, Russell L. Forkey, Esq. June, 2012: SEC v. Jeffrey L. Mowen, Thomas R. Fry, Bevan J. Wilde, Gary W. Hansen, Michael G. Butcher, James B. Mooring, David G. Bartholomew, and Michael W. Averett, Case No. 2:09-cv-00786-DB/PMW (D. Utah) Promoters of Convicted Ponzi Scheme Operator Jeffrey L. Mowen…

Investment Advisor and Broker/Dealer Investment Fraud and Mismanagement Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. June, 2012: The Securities and Exchange Commission recently charged a Miami-based hedge fund adviser for deceiving investors about whether its executives had personally invested in a Latin America-focused hedge fund. The SEC’s investigation found that Quantek Asset Management…

Investment Adviser and Broker/Dealer Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. June, 2012: SEC v. Jorge Gomez and Roberto Aleph Espinosa (United States District Court for the Southern District of Florida, Civil Action No. 1:12-CV-21962 SEC CHARGES TWO INVESTMENT ADVISERS WITH FRAUD The Securities and Exchange Commission recently charged Jorge…

Investment Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. June, 2012: Securities and Exchange Commission v. New Futures Trading International Corporation and Henry Roche (United States District Court for the District of New Hampshire, Civil Action No. 11-CV-532-JL, Complaint Filed November 16, 2011) Court Enters Final Judgments Against New Hampshire Futures…

Investment Adviser and Broker/Dealer Fraud and Misrepresentation Attorney, Russell L. Forkey, Esq. June, 2011: SEC Charges Phoenix-Based Investment Adviser and Firm With Fraud The Securities and Exchange Commission recently charged a Phoenix-based investment adviser and his firm for recommending investments without telling clients about his personal stake and exploiting a client who was buying an…

Penny Stock Fraud Litigation and FINRA Arbitration Attorney, Russell L. Forkey, Esq. June, 20132: SEC v. Yan K. Skwara and US Farms, Inc., Civil Action No. 0:12-cv-61078-JAL (U.S. District Court for the Southern District of Florida) SEC v. Douglas D. Hague and Clean Coal Technologies, Inc., Civil Action No. 0:12-cv-61076-WJZ (U.S. District Court for the…

Penny Stock Fraud and Market Manipulation Litigation and FINRA Abribtration Attorney, Russell L. Forkey, Esq. June, 2012 SEC Charges Company Officers and Penny Stock Promoters in Kickback and Market Manipulation Schemes The Securities and Exchange Commission recently charged several penny stock companies and their officers as well as three penny stock promoters involved in various…

June, 2012 OppenheimerFunds to Pay $35 Million to Settle SEC Charges for Misleading Statements During Financial Crisis The Securities and Exchange Commission recently charged investment management company OppenheimerFunds Inc. and its sales and distribution arm with making misleading statements about two of its mutual funds struggling in the midst of the credit crisis in late…