On April 7, 2015 the SEC charged Los Angeles-based Pacific West Capital Group, Inc. and its owner Andrew B Calhoun IV with fraud in the sale of “life settlement” investments. The SEC’s complaint alleges that since 2004, Pacific West Capital Group and Calhoun, a Beverly Hills, California, life insurance agent,…
On April 24, 2015 the SEC announced charges against an Indianapolis investment adviser, Veros Partners, its president, two associates and several affiliated companies for engaging in two fraudulent farm loan offerings, in which they made ponzi scheme payments to investors in other offerings and paid themselves hundreds of thousands of…
On May 6, 2015 the SEC announced charges and an emergency asset freeze against North Dakota Developments, LLC and its two principals, Robert L. Gavin and Daniel J. Hogan, for allegedly defrauding investors in a scheme to purportedly build and operate short-term housing facilities or “man camps” for workers in…
On May 8, 2015 the SEC filed a complaint against ClearPath Wealth Management and its president and owner Patrick Churchville as defendants for operating a fraudulent scheme that the SEC alleges resulted in at least $11 million in losses to investors. The Multi-Strategy Funds and the HCR Value Fund, L.P.…
On June 9, 2015, The SEC announced that it had charged three men living in California with insider trading in the stock and options of Ardea Biosciences. The SEC alleges that Michael J. Fefferman learned material nonpublic information as senior director of information technology at Ardea Biosciences, and tipped his…
On June 24, 2015, The SEC announced that it had obtained a court order freezing the assets of Capital Cove Bancorp and its owner Rashid K. Khalfani, charging them with pocketing money raised from investors. The SEC alleges that Rashid K. Khalfani (real name Christopher M. Lee) operated under an…
On June 26, 2015, The SEC announced that it had obtained a preliminary injunction against Interinvest Corporation and its owner for funneling more than $17,000,000 of client funds into four Canadian gold and mineral exploration penny stocks companies that owner Hans Peter Black has undisclosed business and financial interests in.…
On June 25, 2015, the SEC charged Malcolm Segal with conducting a Ponzi scheme and stealing investor money to purchase a condominium in Florida, and pay for vacations and other luxuries. The SEC alleges that former Aegis Capital Corp. stockbroker Malcolm Segal fraudulently sold certificates of deposits (CDs) to his…
On June 25, 2015, The SEC filed a civil injunctive action in U.S. District Court in Utah relating to the offering of securities by Silverleaf Financial, LLC and its owner Dwight Baldwin. The Commission’s Complaint alleges that from June 2010 through late 2011, Dwight Baldwin and Silverleaf offered and sold…
On October 23, 2015 The SEC announced a settlement with Vladimir Eydelman, a former stockbroker with Oppenheimer & Co. and Morgan Stanley for his role in the passing of material, nonpublic information obtained by Steven Metro, a law firm employee, regarding pending corporate transactions involving clients of the firm. Metro…