Fraud & Scandals

SEC Shuts Down $102 Million Ponzi Scheme

19/6/2018/US SEC The Securities and Exchange Commission today filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S. According to the SEC’s complaint, the defendants defrauded more than 600 investors through sales of securities in issuers […]

Merrill Lynch Admits to Misleading Customers about Trading Venues

19/6/2018/US SEC The Securities and Exchange Commission today charged Merrill Lynch, Pierce, Fenner & Smith with misleading customers about how it handled their orders. Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million penalty. According to the SEC’s order, Merrill Lynch falsely informed customers that […]

Dallas Oil-And-Gas Company, CEO Settle $8 Million SEC Fraud Suit

June 19, 2018/US SEC On June 19, 2018, the Securities and Exchange Commission charged a Dallas-based oil-and-gas company and its chief executive officer in connection with a series of allegedly fraudulent unregistered oil-and-gas securities offerings that raised millions of dollars from investors. In its complaint, the SEC alleges that Jefferey […]