Tag: SEC
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SEC: California Scammer Traded On Agency’s Name To Sanitize $60 Million Fraud And Ponzi Caper; John A. Geringer And GLR Capital Management Charged With Fraud Amid Allegations ‘Fund’ Claimed Handsome Return Before It Even Existed
“Geringer painted the picture of a successful fund weathering America’s financial crisis through a diversified, conservative investment strategy. The reality, however, was the complete opposite. Geringer lost millions of dollars in the market, tied up remaining investor funds in a pair of illiquid private companies, and lied about it in phony account statements.” — Marc…
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BULLETIN: SEC Suspends Trading In 379 Penny Stocks; Initiative Dubbed ‘Operation Shell-Expel’ Leads To Unprecedented Number Of Shutdowns
BULLETIN: In an unprecedented move, the SEC today announced that it had suspended trading in 379 penny stocks, saying the companies were delinquent in filings and ripe for hijacking and scams involving reverse mergers and pump-and-dump schemes. “The trading suspension marks the most companies ever suspended in a single day by the agency as it…
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BULLETIN: FLORIDA — AGAIN: SEC Says Penny-Stock Scammer With Complicit Attorneys Hatched Scheme To Take Advantage Of Devastating January 2010 Earthquake In Haiti
BULLETIN: Miami penny-stock scammer Kevin Sepe — along with two attorneys in Florida and one in Utah — engaged in illegal stock-selling schemes, the SEC said. One of the schemes “sought to capitalize on circumstances in Haiti following the earthquake that destroyed much of the country’s infrastructure in January 2010,” the SEC said. Sepe, 51,…
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MOST UN-‘WISE’: 2 Ponzi Schemers Ride Their Wordplay To Prison Sentences Totaling More Than 33 Years; Judge Declares Crime ‘Evil’
“Defendant Trebor Company (Robert spelled backward) is a sole proprietorship owned by [Robert C. Brown Jr.] and is the name he has used for his ‘investment group.’” — U.S. Securities and Exchange Commission, in civil complaint against Trebor and Brown, July 23, 2008 “Evidence at trial established that much of the investor money was funneled…
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Forex Version Of ‘Mad Men’ Comes To Minnesota: Bo Beckman, Pat Kiley, Gerald Durand Trial Begins This Week; 3 Accused Hucksters Were Associates Of Ponzi Schemer Trevor Cook
If you’re a fan of “Mad Men,” the award-winning AMC television drama now back on the air after a 17-month absence, you’ve seen the cigarettes, the boozing and the debauchery weekly. (Perhaps not only in the show itself, but also in AMC’s promos for the series, a key element of which is the tagline “DEBAUCHERY…
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URGENT >> BULLETIN >> MOVING: SEC Charges Shervin Neman In Alleged Ponzi Scheme Targeted At Los Angeles Persian-Jewish Community; Federal Judge Issues Emergency Asset Freeze
URGENT >> BULLETIN >> MOVING: The SEC has gone to federal court in Los Angeles, alleging that a California man was operating a $7.5 million Ponzi scheme targeted at the Persian-Jewish community. U.S. District Judge Jacqueline H. Nguyen has issued an emergency asset freeze. Charged in the alleged affinity-fraud caper was Shervin Neman, 30, of…
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URGENT >> BULLETIN >> MOVING: Ponzi Schemer And Recidivist Felon Robert Stinson Jr. Sentenced To More Than 33 Years For ‘Life’s Good’ Caper
URGENT >> BULLETIN >> MOVING: Robert Stinson Jr., the Philadelphia-area Ponzi schemer who was wiring stolen funds from one account to another even as the FBI was conducting a raid in 2010, has been sentenced to 400 months in federal prison. The term amounts to more than 33 years. Stinson, a 57-year-old securities huckster and…
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REPORT: Ponzi Pitchman Found Dead In Florida Of Apparent Suicide
Daniel Joseph Sebastian, accused last year by the SEC of being a pitchman for the James D. Risher Ponzi scheme, has been found dead in Florida of an apparent suicide, The Ledger.com is reporting. Risher, a 61-year-old recidivist felon last living in Sanibel, Fla., pleaded guilty to Ponzi-related offenses last year and was sentenced to…