South Florida Arbitration & Litigation Lawyer Blog

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 Proposes Rules to Implement JOBS Act Provision About General Solicitation and Advertising in Securities Offerings August, 2012: Text of Chairman’s statement The Securities and Exchange Commission recently proposed rules to eliminate the prohibition against general solicitation and general advertising in certain securities offerings. Under the proposed rules, which are mandated by the Jumpstart Our…

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.…

The Financial Industry Regulatory Authority, Inc. (“FINRA”) recently filed with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend the By-Laws of FINRA Dispute Resolution, Inc. (By-Laws) to clarify that services provided by mediators, when acting in such capacity and not representing parties in mediation, should not cause the individuals…

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…

SEC v. Jeffrey L. Mowen, et al., Case No. 2:09-cv-00786-DB/PMW (D. Utah) August, 2012: CONVICTED PONZI SCHEME OPERATOR JEFFREY L. MOWEN ORDERED TO PAY OVER $18,000,000 IN SEC ACTION The Securities and Exchange Commission announced today that the United States District Court for the District of Utah entered a final judgment against Jeffrey L. Mowen,…

SEC Charges New York-Based Firm and Owner in Penny Stock Scheme August, 2912: The penny stock plague never goes away. It just changes its form. In another twist, the the Securities and Exchange Commission recently charged a New York-based firm and its owner with conducting a penny stock scheme in which they bought billions of…