Fraud & Scandals

JPMorgan to Pay More than $135 Million for Improper Handling of ADRs

December 26, 2018/US SEC The Securities and Exchange Commission today announced that JPMorgan Chase Bank N.A. will pay more than $135 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs). ADRs – U.S. securities that represent foreign shares of a foreign company – require a corresponding number […]

SEC Files Subpoena Enforcement in Possible Market Manipulation Scheme

December 26, 2018/US SEC The Securities and Exchange Commission filed a subpoena enforcement action against three penny-stock companies and their CEO – Cherubim Interests, Inc. (CHIT), PDX Partners, Inc. (PDXP), Victura Construction Group, Inc. (VICT), and Patrick Jevon Johnson – seeking an order directing them to comply with investigative subpoenas […]

SEC Obtains Judgment Against Former CEO in Transition Management Fraud Case

December 24, 2018/US SEC On November 9, 2018, the Securities and Exchange Commission obtained a judgment against the former CEO of a brokerage consulting business who was charged by the SEC in August for his role in a multimillion dollar transition management fraud. The SEC previously charged a brokerage consulting […]