Tag: SEC
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URGENT >> BULLETIN >> MOVING: FDA Chemist Cheng Yi Liang Pleads Guilty In Insider Trading Case; ‘Shocking Abuse Of Trust,’ Feds Say Of Schemer’s Plot To Use Database To Harvest Illegal Profits
>> BULLETIN >> MOVING: Cheng Yi Liang, the FDA chemist accused in March of mining the agency’s database for drug approvals or denials and using the information to make insider trades, has pleaded guilty to securities fraud and failing to disclose illicit profits. Liang, 57, of Gaithersburg, Md., faces a maximum term of 25 years in…
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BULLETIN: Recidivist Huckster Jailed In Florida In ‘Body Scan’ Securities Swindle Masterminded Separate Ponzi Scheme In California That Netted $11 Million, SEC Says; Jerry Aubrey Charged Amid Allegations He And Brother Peeled Off Millions For Basketball Tickets And Lavish Home Featuring ‘Giant Fish Aquariums With Miniature Sharks’
Jerry L. Aubrey first came on the SEC’s radar screens in 1998, when he was hawking “securities in a fictitious cruise ship,” records show. By 2007, he’d been charged criminally in Florida with securities fraud for selling shares of a bogus “body scan imaging business” between December 2000 and October 2003. He was convicted of…
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SEC: New York Pitchman, 73, Hawked ‘Illegal Offering’ For Murdoch Security & Investigations Inc. By Spinning Tall Tale Of ‘Anti-Piracy’ And ‘Anti-Terror’ Success On The ‘High Seas’
EDITOR’S NOTE: In the past 24 hours, the SEC has filed charges against two firms purportedly in the business of preventing terrorism. Read the PP Blog’s story about the first firm here. The cavalcade of senior citizens implicated in securities schemes continues — as does the story about the bizarre nature of recent fraud cases…
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BULLETIN: SEC Says InfrAegis — Purported ‘Homeland Security’ Firm With Product To Detect Weapons Of Mass Destruction — Was A $20 Million Fraud Based In Part On A ‘Trillion’-Dollar Lie; Company And CEO Gregory E. Webb Charged
BULLETIN: The SEC has gone to federal court in Illinois to charge InfrAegis Inc. and CEO Gregory E. Webb with fraud amid allegations they fleeced investors in a $20 million scam that traded on post-9/11 fears and claims that government security contracts worth more than $1 trillion would make everybody rich. Webb, 64, resides in…
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URGENT >> BULLETIN >> MOVING: Feds Make 3 Arrests In New York In Alleged ‘Green’ Ponzi Caper; SEC Files Emergency Parallel Action To Halt Alleged $26 Million Swindle Over Which Convicted Felon Presided With Alleged Help From Attorney
URGENT >> BULLETIN >> MOVING: A bizarre case featuring spectacular allegations of Ponzi fraud coupled with verbal strong-arming of victims is unfolding in New York. Three people have been arrested by federal agents, and the SEC has filed an emergency action in federal court to halt what it described as a “green-product themed Ponzi scheme”…
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2 X BIZARRE: (1) SEC Says New York Man Used Proceeds From Unregistered Offering To Pay Restitution In Criminal Case; (2) Feds Say Philly Man Illegally Used Investor’s Funds To Pay For ‘Joy To The World’ Gala And Make Purported ‘Gold’ Purchase In West Africa
EDITOR’S NOTE: If you’ve been wondering whether there was any ceiling to the bizarre nature of securities-fraud cases as the white-collar fraud epidemic continues, it perhaps is best to stop wondering now . . . A New York man has been accused by the SEC of using the proceeds of an unregistered offering for StratoComm…
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CLOAK-BUSTING RULING IN SCAM LAND: Court Records Show SEC Served Subpoena On Google Aimed At Unmasking Identity Of Possible Touter In ‘Pump And Dump’ Probe Into Price Of Jammin Java Corp. Stock; ‘John Doe’ Moved To Quash, But Judge Says No
A judge yesterday upheld the SEC’s ability to investigate potential fraud schemes by issuing administrative subpoenas to vendors whose services potentially are being used to help scammers cloak themselves while they harvest illegal profits. The ruling is apt to cause great unease in the corners of the Internet occupied by murky HYIP, autosurf and pump-and-dump…
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BULLETIN: California Woman Pleads Guilty In ‘Christian Rock Concerts’ Ponzi Scheme; Recidivist Swindler Lauren Baumann Used Money From Latest Scam To Pay $10,000-A-Month Mansion Rent, Prosecutors Say
BULLETIN: A California woman has pleaded guilty to wire fraud in a Ponzi scheme in which investors were falsely told their money was being used to fund “Christian rock concerts” and to flip real estate at a profit. Lauren Baumann, 43, of Downey, was a recidivist huckster who failed to disclose she’d been sued for fraud…