UBS to Pay $25 Million to Settle Fraud Charges
Washington D.C. — The Securities and Exchange Commission has announced that UBS Financial Services Inc. has agreed to pay approximately $25 million to settle fraud charges relating to a complex investment strategy referred to as YES, or Yield Enhancement Strategy.
According to the SEC’s order, UBS marketed and sold YES to approximately 600 investors through its platform of domestic financial...
Three Men Guilty in Scheme to Defraud Elderly and Vulnerable Victims of More Than $5 Million
United States Attorney Leonard C Boyle, Inspector in Charge Ketty Larco-Ward of the U.S. Postal Inspection Service’s Boston Division, and J. Russell George, the Treasury Inspector General for Tax Administration, announced that a federal jury in Bridgeport has found three men guilty of offenses related to their participation in lottery and romance scams that defrauded primarily elderly victims across...
Call Center Operators charged with fraud in $58 million penny stock scheme
Washington D.C. – The Securities and Exchange Commission today announced fraud charges against five individuals for allegedly operating a call center in Medellin, Colombia, which used high pressure sales tactics and made false and misleading statements to retail investors to convince them to buy the stocks of small companies trading in the U.S. markets.
According to the SEC’s complaint, filed...
Felon Sentenced for Fraudulently Obtaining over $419K in Covid Aid while on Probation
Maryland Felon Sentenced to 18 Months in Federal Prison for Fraudulently Obtaining More Than $419,000 in COVID-19 CARES Act Loans While on Probation for a Previous Federal Conviction
The Defendant Made False Statements on the Applications to Obtain the Loans, Then Misappropriated Some of the Funds to Pay Her Personal Expenses, including a Car, a Boat, a Vacation, and Tickets...
Former employee at Penn Interactive Ventures charged with insider trading
Software Engineer Traded, Tipped Friend of Company’s Acquisition Plans
Washington D.C. — The Securities and Exchange Commission today announced insider trading charges against David Roda, a former software engineer at Penn National Gaming’s subsidiary Penn Interactive Ventures, in connection with the parent company’s $2 billion acquisition of Toronto-based Score Media and Gaming, Inc.
The SEC’s complaint, filed in federal district court...