On August 27, 2015 The SEC announced fraud charges and an emergency asset freeze to halt a California-based scheme involving investments in oil and gas projects. According to the SEC’s complaint filed under seal in federal court in Los Angeles, Harrison Schumacher and his two companies Quantum Energy LLC and…
On September 29, 2015 the SEC announced that former UBS broker Jose Ramirez of Puerto Rico was charged with making material misrepresentations and omissions and orchestrating a scheme involving the use of credit line proceeds from a UBS affiliated bank to purchase shares in UBS Puerto Rico affiliated mutual funds.…
On December 8, 2015 the SEC announced that it had settled their action against Covenant Partners, L.P., a Philadelphia-area private equity fund. Prior to this development, the SEC had brought an action against Covenant Partners along with Bill Fretz and his unregistered investment adviser, Covenant Capital Management Partners, L.P. According…
On September 15, 2015 the SEC charged five Arizona residents with stealing millions of dollars from investors to make car payments, buy clothes, and fund travel and entertainment at luxury resorts, casinos, and strip clubs. The SEC alleges that Jason Mogler of Pangea Investments misappropriated over $17 million from investors…
On September 8, 2015 the SEC announced it had filed fraud charges against three traders accused of repeatedly lying to customers who were relying on them for honest and accurate pricing information about residential mortgage-backed securities (RMBS). The SEC alleges that Ross Shapiro, Michael Gramins, and Tyler Peters defrauded customers…
On September 8, 2015 the SEC announced it had filed fraud charges against three traders accused of repeatedly lying to customers who were relying on them for honest and accurate pricing information about residential mortgage-backed securities (RMBS). The SEC alleges that Michael Gramins defrauded customers to illicitly generate millions of…
On September 8, 2015 the SEC announced it had filed fraud charges against three traders accused of repeatedly lying to customers who were relying on them for honest and accurate pricing information about residential mortgage-backed securities (RMBS). The SEC alleges that Ross Shapiro defrauded customers to illicitly generate millions of…
On September 25, 2015 the SEC filed a civil injunctive in federal court in Colorado relating to the fraudulent offer and sale of stock in GenAudio, Inc. The SEC charged GenAudio, Inc., a Colorado corporation, its corporate successor, Astound Holdings, Inc. and GenAudio’s founder and CEO, Taj Jerry Mahabub, of Broomfield,…
On September 28, 2015 the SEC announced that it had filed fraud charges against Eldrick Woodley, a Houston-based investment advisor, for misappropriating close to $150,000 from customers. funds. According to the SEC’s complaint, filed in the U.S. District Court for the Southern District of Texas, Houston Division, Eldrick Woodley, through…
On August 20, 2015 The SEC announced that it had obtained a preliminary injunction freezing the assets of Iftikar Ahmed, an investment professional, who they charged with running a 10 year fraud at the venture capital firm where he previously was employed, Oak Investment Partners. The SEC filed its emergency…