Four Long Island men charged with $2M “free-riding” scheme
Washington D.C. — The Securities and Exchange Commission has announced fraud charges against Eduardo Hernandez, Christopher Flagg, Daquan Lloyd, and Corey Ortiz, all currently or formerly of Long Island, New York, for perpetrating a multi-year “free-riding” scheme that generated more than $2 million in illicit profits.
The SEC alleges that, from approximately November 2018 through January 2022, the defendants opened...
CA resident charged with multimillion dollar ponzi scheme
Washington D.C. — The Securities and Exchange Commission today charged Richmond, California resident Tilila Walker Sumchai with raising approximately $11.8 million from more than 1,000 investors through a fraudulent securities offering targeting members of the Tongan American community across the United States.
According to the SEC’s complaint, from approximately January 2021 through October 2021, Sumchai convinced retail investors to acquire...
Former Pfizer Statistician Charged with Insider Trading
Employee and friend traded ahead of Pfizer’s “game-changer” announcement on the success of its Paxlovid trial
Washington D.C. — The Securities and Exchange Commission has announced insider trading charges against Amit Dagar, a former Pfizer Inc. employee, and his close friend and business partner, Atul Bhiwapurkar, for trading in advance of the company’s November 5, 2021, announcement that a randomized,...
SEC Shuts Down WeedGenics $60 Million Cannabis Offering Fraud
Washington D.C. — The Securities and Exchange Commission obtained an emergency order to halt an alleged ongoing offering fraud and Ponzi-like scheme by Integrated National Resources Inc. (INR), which does business as WeedGenics, and its owners, Rolf Max Hirschmann and Patrick Earl Williams, who have raised more than $60 million from investors to expand their cannabis operations, but have...
Former Coinbase Manager and His Brother Agree to Settle Insider Trading Charges Relating to Crypto Asset Securities
Washington D.C. — The Securities and Exchange Commission today announced that former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, agreed to settle charges that they engaged in insider trading through a scheme to trade ahead of multiple announcements regarding at least nine crypto asset securities that would be made available for trading on the Coinbase platform....
HSBC and Scotia Capital Charged with Widespread Recordkeeping Failures
Firms admit to wrongdoing and agree to pay penalties in SEC’s ongoing recordkeeping initiative
Washington D.C., — The Securities and Exchange Commission this week charged HSBC Securities (USA) Inc. and Scotia Capital (USA) Inc. for widespread and longstanding failures by both firms and their employees to maintain and preserve electronic communications. To settle the charges, HSBC and Scotia acknowledged that...
SEC Alleges Son and Father-in-Law Touted Faith to Target Church Members in $20 Million Offering Fraud
Washington D.C. — The Securities and Exchange Commission today charged Brett M. Bartlett, his father-in-law Scott A. Miller, and their companies for fraudulent securities offerings that raised at least $20.5 million, some of which Bartlett and Miller misused for personal expenses.
According to the SEC’s complaint, from at least June 2018 to May 2020, Bartlett and Miller raised funds from...
Chief Information Officer of pharmaceutical company Viatris charged with inside trading
SEC Charges Pharmaceutical Co. Chief Information Officer in $8 Million Insider Trading Scheme
Washington D.C. — The Securities and Exchange Commission today announced insider trading charges against Ramkumar Rayapureddy, Chief Information Officer of pharmaceutical company Viatris Inc., which was formerly known as Mylan N.V.
The SEC’s complaint, filed in the United States District Court for the Western District of Pennsylvania, alleges...
SEC Charges Halal Capital Founder with Multimillion Dollar Fraudulent Scheme That Targeted Muslim Community
Washington D.C. — The Securities and Exchange Commission today charged Jebara Igbara, the founder of Halal Capital LLC, in connection with a more than $8 million scheme that targeted investors from the New York metropolitan area’s Muslim community.
According to the SEC’s complaint filed in federal court in Brooklyn, Igbara (a.k.a. Jay Mazini) started Halal Capital in October 2019 with...
Hadari Oshri’s meritless legal plan and sloppy PR campaign backfired
Los Angeles (CA) – Probably 2021 was not a year for the books for Hadari Oshri. And things aren't looking up in 2022 either.
Last year, the American-Israeli entrepreneur lost her meritless restraining order case against me. My anti-SLAPP court win was a powerful reminder of why First Amendment Rights are celebrated, honored and protected by Americans. And as an...