SEC Investigation Finds No Evidence Politics Drove Goldman Suit The U.S. Securities and Exchange Commission’s internal watchdog said he found no evidence a lawsuit against Goldman Sachs Group Inc. was driven by politics or that agency officials timed the case to help President Barack Obama win support for financial-regulation legislation. The SEC’s April 16 announcement […]
8000 Inc. (OTC: EIGH) – dead cat bounce?
Scam? Not Scam? Whatever… Technical bounce is imminent (sooner or later)… News: 8000inc (EIGH.pk) Statement by the Board of Directors In light of recent market events and the company’s extended stock investigation, 8000inc contracted industry experts to assess current market behavior of its stock and to advise the company on the management of the share […]
US church financier faces Ponzi scheme trial
By CHARLES WILSON The Associated Press INDIANAPOLIS — Karen and Fred Lamb tried to do their homework before investing their savings in an Indiana company’s fund to help churches build or expand. After talking with church friends and checking out Alanar Inc. on the Securities and Exchange Commission’s website, they decided the firm’s goals and […]
SEC Charges Internationally Syndicated Radio Show Host With Securities Fraud Scheme
Washington, D.C., Oct. 7, 2010 — The Securities and Exchange Commission today charged a talk radio show host and two other executives at a Monterey, Calif.-based firm with misappropriating $2.5 million of approximately $7 million they raised through the fraudulent sale of interests in two real estate investment funds. Additional Materials SEC Complaint Litigation Release […]
SEC Charges Penny Stock Promoters in Series of Kickback Schemes
Saga continues (see our previous post: Remember Rapid Fitness, Inc.? Tri Star Holdings? or even Amore TV, Inc?) Washington, D.C., Oct. 7, 2010 — The Securities and Exchange Commission today charged more than a dozen penny stock promoters and their companies with securities fraud for their roles in various illicit kickback schemes to manipulate the volume […]
Remember Rapid Fitness, Inc.? Tri Star Holdings? or even Amore TV, Inc?
Well, to make the long story short: Presenting Macada Holding, Inc (OTC: MCDA) & its famous CEO, Mr. Mellone Jr., the master of the “stock price inflations” on bogus promises: ‘CHiPs’ star busted for alleged penny stock scheme The Securities and Exchange Commission has slapped former “CHiPs” star Larry Wilcox with fraud charges for his […]
SEC WINS FRAUD TRIAL AGAINST MIAMI INVESTMENT COMPANY U.S. PENSION TRUST AND ITS OFFICERS
The Securities and Exchange Commission announced today that a U.S. District Judge found two Miami companies and their three officers liable for violating the anti-fraud provisions of the federal securities laws stemming from a 13-year fraud in which they siphoned up to 85 percent of investors’ initial contributions for undisclosed commissions and other fees. A […]
Former Wall Street Investment Banker Settles SEC Charges of Insider Trading
Litigation Release: The Securities and Exchange Commission announced that on September 21, 2010, the Honorable Alvin K. Hellerstein of the United States District Court for the Southern District of New York entered a judgment of permanent injunction against Igor Poteroba, formerly an investment banker with UBS Securities LLC (“UBS”), who had been charged with insider […]
SEC Charges Former Dell Employee and Broker Husband for Insider Trading Ahead of Dell-Perot Systems
ENFORCEMENT PROCEEDINGS Oct 06, 2010 (SECURITIES AND EXCHANGE COMMISSION RELEASE/ContentWorks via COMTEX) — On October 5, 2010, Securities and Exchange Commission charged Austin, Texas resident and former Dell Inc. employee Marleen Jantzen and her husband, John Jantzen, a licensed broker employed by an SEC-registered broker-dealer, with insider trading around the public announcement of Dell’s tender […]
The Fed’s Man Selling the Fed’s Secrets…
On August 19, just nine days after the U.S. central bank surprised financial markets by deciding to buy more bonds to support a flagging economy, former Fed governor Larry Meyer sent a note to clients of his consulting firm with a breakdown of the policy-setting meeting. The minutes from that same gathering of the powerful […]