Fraud & Scandals

SEC Charges Former Executives of Plastics Manufacturer with Fraud

February 12, 2019/US SEC On February 12, 2019, the Securities and Exchange Commission charged two former high-ranking executives of an Indiana-based plastics manufacturer with concealing from potential buyers of the manufacturer the fact that the company’s core business model was a sham. According to the SEC’s complaint, Lucent Polymers, Inc. […]

SEC Obtains Judgment Against Donato Baca, Jr. in Ponzi Scheme

February 11, 2019/US SEC On February 8, 2019, the Securities and Exchange Commission obtained a judgment against Donato Baca, Jr. for his role in a multimillion dollar Ponzi scheme. On September 27, 2018, the SEC charged Baca, his business partner, Jonny Ngo, and NL Technology, LLC with lying to investors. According […]