Allianz Global Investors Agrees to Pay More Than $1 Billion to Resolve SEC Charges
SEC Charges Allianz Global Investors and Three Former Senior Portfolio Managers with Multibillion Dollar Securities Fraud
Washington D.C. — The Securities and Exchange Commission (SEC) this week charged Allianz Global Investors U.S. LLC (AGI US) and three former senior portfolio managers with a massive fraudulent scheme that concealed the immense downside risks of a complex options trading strategy they called...
SEC Obtains Emergency Relief to Halt Pre-IPO Stock Fraud Scheme by Unregistered Broker-Dealer
Defendants, including persons barred from the brokerage industry, allegedly sold shares they didn’t own, and pocketed more than $75 million
Washington D.C. — The Securities and Exchange Commission announced this week that it obtained asset freezes and other emergency relief against StraightPath Venture Partners LLC, StraightPath Management LLC, Brian K. Martinsen, Michael A. Castillero, Francine A. Lanaia, and Eric D....
SEC Extends Comment Period for Proposed Rules on Climate-Related Disclosures, Reopens Comment Periods for Proposed Rules Regarding Private Fund Advisers and Regulation ATS
Washington D.C. — The Securities and Exchange Commission this week announced that it has extended the public comment period on the proposed rulemaking to enhance and standardize climate-related disclosures for investors until June 17, 2022. The SEC also announced that it will reopen the comment periods on the proposed rulemaking to enhance private fund investor protection and on the...
Founders of cryptomining scheme accused of using investments to fund lavish lifestyle
SEC Halts Fraudulent Cryptomining and Trading Scheme
Washington D.C. — The Securities and Exchange Commission this week announced fraud charges against MCC International Corp. (MCC), which does business as Mining Capital Coin Corp., its founders Luiz Carlos Capuci, Jr. (aka Junior Caputti or Capuci) and Emerson Souza Pires (Pires), and two other entities controlled by Capuci, CPTLCoin Corp. (CPTLCoin) and...
SEC Nearly Doubles Size of Enforcement’s Crypto Assets and Cyber Unit
Washington D.C., May 3, 2022 — The Securities and Exchange Commission today announced the allocation of 20 additional positions to the unit responsible for protecting investors in crypto markets and from cyber-related threats. The newly renamed Crypto Assets and Cyber Unit (formerly known as the Cyber Unit) in the Division of Enforcement will grow to 50 dedicated positions.
"The U.S....
President of Synergy Settlement Services accused of misusing beneficiaries’ funds on golf tournaments and beach parties
Defendants allegedly used funds from deceased beneficiaries’ accounts on golf tournaments and beach parties
Washington D.C., May 2, 2022 — The Securities and Exchange Commission today announced fraud charges against Synergy Settlement Services, Inc., CEO Jason D. Lazarus, Esq., both based in Orlando, FL, and President Anthony F. Prieto, Jr. of Tampa, FL, for allegedly defrauding individuals with disabilities into...
Pharmacist Sentenced for $180 Million Health Care Fraud Scheme
A former Mississippi pharmacist was sentenced this week to 10 years in the Southern District of Mississippi for a multimillion-dollar scheme to defraud TRICARE and private insurance companies by paying kickbacks to distributors for the referral of medically unnecessary prescriptions. The conduct resulted in more than $180 million in fraudulent billings, including more than $50 million paid by federal...
SEC Announces Older Investor Roundtable Virtual Event on April 28
Washington D.C. — The Securities and Exchange Commission will hold a virtual event on April 28 along with the North American Securities Administrators Association (NASAA) and the AARP to examine the latest challenges and issues affecting the senior investor community.
The Older Investor Roundtable will include panel discussions geared toward older investors, consumer advocates, and financial professionals nationwide as topics...
Check out SEC’s updated list of firms using inaccurate information to solicit investors
Washington D.C. — The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 58 soliciting entities, 11 impersonators of genuine firms, and one bogus regulator.
The SEC’s list of soliciting entities that have been the subject of investor complaints, known as the Public Alert: Unregistered...
Sameday Health settles with LA over fake COVID-19 test results
Los Angeles – Calling alleged actions by a COVID-19 testing company a serious violation of public trust, City Attorney Mike Feuer has announced two settlements valued at a total of $26,454,593. One settlement for $22.5 million resolved allegations that the Venice-based national COVID-testing chain Sameday Technologies (doing business as Sameday Health) and its CEO Felix Huettenbach faked and forged...