Securities and Exchange Commission v. Rafael Antonio Calleja, Jr., Civil Action No. 16-CV-24872-KMW (S.D. Fla. filed November 22, 2016)
SEC Charges Naples, Florida Resident with Misappropriating Investor Funds
Securities and Exchange Commission v. Arcturus Corporation, et al., Civil Action No. 3:13-cv-04861-K (N.D. Tex.)
Promoters of Fraudulent Oil and Gas Investments Found Liable On All Claims
Securities and Exchange Commission v. Trudy R. Gilmond, U.S. District Court for Western District of North Carolina (Civil Action No. 3:15-CV-00591)
SEC Charges ZeekRewards Pyramid-Ponzi Scheme Promoter
Securities and Exchange Commission v. Jehu Hand and Antonio Katz, Civil Action No. 1:15-cv-14109 (D. Mass. Dec. 10, 2015)
SEC Charges California Lawyer and Stock Promoter Behind Market Manipulation Scheme
iShopNoMarkup.com, Inc. – South Florida Fraudulent Unregistered Offering of Securities – FINRA Arbitration and Litigation Attorney
Securities and Exchange Commission v. iShopNoMarkup.com, Inc., Civil Action No. 04-CV-4057 (E.D.N.Y.)
Court Imposes Over $5 Million in Monetary Relief, an Officer and Director Bar, and Permanent Injunctions Against Former Chairman of a Failed Internet Startup Who Committed Securities Fraud and IIIegally Sold Unregistered Securities
Securities and Exchange Commission v. Manny J. Shulman and David K. Hirschman, Civil Action No. 0:15-cv-61861-WJZ (U.S. District Court for the Southern District of Florida, Sept. 3, 2015)
On September 3, 2015, the Securities and Exchange Commission (“Commission”) charged Manny J. Shulman and David K. Hirschman for their involvement in the fraudulent, unregistered sale of securities of Caribbean Pacific Marketing, Inc. (“Caribbean Pacific”), a now-defunct Florida corporation that purported to be a sun-care and skin-care products start-up company. The Commission also charged Shulman for making misstatements and omissions in Caribbean Pacific’s registration statement.
Securities and Exchange Commission v. EnviraTrends, Inc., et al., Civil Action No. 8:15CV1903T27TGW (M.D. Fla., August 17, 2015)
SEC Charges Development Stage Company and Founder in Unregistered Offering Fraud Scheme
Newly announced rules regarding advertising of unregistered securities offerings.
General advertising is permitted in certain offerings as a result of rules adopted by the SEC as required by the Jumpstart Our Business Startups (JOBS) Act. You may begin to see advertising and announcements for opportunities to invest in certain securities offerings, sometimes called private placements. These offerings may be for shares in a company or interests in a private fund, such as a hedge fund or venture capital fund. The advertising may be through a number of different means, including the Internet, social media, seminars, print, or radio or television broadcast. The rules permitting this general advertising took effect on September 23, 2013.
Securities and Exchange Commission v. Caledonian Bank Ltd., et al., Civil Action No. 15-CV-00894
The Securities and Exchange Commission has charged five offshore entities with offering and selling unregistered penny stocks into the public markets.
According to the SEC’s complaint filed on February 6, 2015, Cayman Islands-based, Caledonian Bank Ltd. and Caledonian Securities Ltd., Belize-based, Clear Water Securities, Inc. and Legacy Global Markets S.A., and Panama-based, Verdmont Capital S.A. (collectively, the “Defendants”) conducted unregistered sales of securities, reaping over $75 million in illegal sales proceeds. Simultaneous with filing its complaint, the SEC obtained an emergency court order freezing assets of the Defendants located in the United States.
SEC Charges Oppenheimer With Securities Law Violations Related to Improper Penny Stock Sales
The Securities and Exchange Commission recently charged Oppenheimer & Co. with violating federal securities laws while improperly selling penny stocks in unregistered offerings on behalf of customers.
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