Attorney General Lisa Madigan announced yesterday that a former Chicago man was sentenced today to 13 years in the Illinois Department of Corrections (IDOC) for his role in operating an investment fraud scheme that targeted mainly those in the Chicago-area Hispanic community and bilked investors out of more than $10 million. DuPage County Circuit Court […]
SEC: China Stock Fraud Network
The Securities and Exchange Commission is investigating allegations that U.S. firms and individuals have joined with partners in China to steal billions of dollars from American investors through stock fraud, according to people familiar with the probe. Individuals with direct knowledge of the investigation say that the SEC is focusing on stock promoters, investment bankers, […]
SEC: Two Longtime Madoff Employees Charged with Fraud
SEC Charges Two Longtime Madoff Employees with Fraud FOR IMMEDIATE RELEASE 2010-225 Washington, D.C., Nov. 18, 2010 — The Securities and Exchange Commission today charged a pair of longtime employees at Bernard L. Madoff Investment Securities LLC (BMIS) with playing key roles in the Madoff Ponzi scheme. One employee produced phony account statements for investors […]
SEC Litigation Release: Great American Technologies, Inc. and Vincent Setteducate
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 21738 / November 12, 2010 SEC v. Great American Technologies, Inc. and Vincent Setteducate a/k/a Vincent Sette, Civil Action No. 07-CV-10694 (S.D.N.Y.) (November 30, 2007) SEC Obtains Final Judgment On Consent Against Defendant Great American Technologies, Inc. The Securities and Exchange Commission announced today that on November […]
SEC Charges Atlanta Residents with Securities Fraud
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 21713 / October 29, 2010 Securities and Exchange Commission v. Elite Resources, LLC, et al., Case No. 1:10-CV-3522 (N.D. Ga) SEC Charges Atlanta Residents with Securities Fraud The Securities and Exchange Commission (Commission) filed a civil injunctive action in Atlanta Georgia on October 29, 2010, alleging that […]
SEC Charges Georgia-Based Hedge Fund Managers With Fraud
SEC Charges Georgia-Based Hedge Fund Managers With Fraud in Valuing a “Side Pocket” and Theft of Investor Assets FOR IMMEDIATE RELEASE 2010-199 Washington, D.C., Oct. 19, 2010 — The Securities and Exchange Commission today charged two hedge fund portfolio managers and their investment advisory businesses with defrauding investors in the Palisades Master Fund, L.P. by […]