An Edmond broker found to have committed “egregious” violations of short selling rules must pay a $900,000 fine and is banned from the securities industry. The Oklahoma Department of Securities has banned Mark Alan Uselton, of Edmond, and Legacy Trading Co., a former registered broker-dealer operating from Edmond, from registering under the Oklahoma Uniform Securities […]
PrimeEdge (OTC: PEDI) fraud case of the Ex-Nebraska City Broker
by Associated Press A former Nebraska City broker accused of defrauding investors out of more than $20 million has agreed to plead guilty to two fraud charges and is likely to testify against another person charged in the securities case. Rebecca Engle , who had faced eight felony charges, won’t be sentenced until after the […]
SEC: RUSSIAN ENTITY AND INDIVIDUAL AGREE TO PAY $1.33 MILLION TO SETTLE MARKET MANIPULATION CHARGES
On Thursday, December 2, 2010, the Securities and Exchange Commission settled civil charges against BroCo Investments, Inc. and its president Valery Maltsev arising out of an account intrusion scheme that manipulated the shares of over 100 public companies. The case was originally filed as an emergency action on March 15, 2010, in the United States […]
SEC: Civil Charges for Offering Fraud
U. S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 21759 / December 1, 2010 Securities and Exchange Commission v. Jennifer L. Dodge, Grant M. Carroll, Tamara M. Davis, and The Cornerstone TKD, LLC, Civil Action No. 1:10-cv-00913, United States District Court for the Western District of Texas (Austin Division). SEC Files Civil Charges against Jennifer […]
SEC: Enforcement Proceedings (November 30th, 2010)
In the Matter of Milowe Allen Brost a/k/a Milo Brost On November 30, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Notice of Hearing (Order) against Milowe Allen Brost a/k/a Milo Brost. The Order alleges that from at least 1999 to 2008, Brost […]
SEC: International Insider Trading Scheme
SEC Charges Deloitte Partner and Wife in International Insider Trading Scheme FOR IMMEDIATE RELEASE 2010-234 Washington, D.C., Nov. 30, 2010 — The Securities and Exchange Commission today charged a former Deloitte Tax LLP partner and his wife with repeatedly leaking confidential merger and acquisition information to family members overseas in a multi-million dollar insider trading […]
SEC: Litigation Release (Entrust Capital Management)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 21739 / November 15, 2010 SEC v. Amit Mathur, Entrust Capital Management, Inc., and Raheev Johar, No. 05-CV-10729-MLW (District of Massachusetts, filed April 12, 2005) Court Enters Final Judgment Against Investment Adviser and Its Principal Accused of Misappropriating Client Funds The Securities and Exchange Commission announced today […]
SEC: Additional Charges in Its Ongoing Investigations
SEC Brings Additional Charges in Its Ongoing Investigations Into Two Previously Identified Insider Trading Rings Hedge Fund Advisory Firm and Two Wall Street Professionals Are Latest Charged FOR IMMEDIATE RELEASE 2010-220 Washington, D.C., Nov. 12, 2010 — The Securities and Exchange Commission today charged additional defendants in its ongoing investigations related to two enforcement actions, […]
Neb. man gets 5 years prison for investment fraud
A Nebraska man who pleaded guilty to securities fraud has been ordered to spend five years in prison and repay $6.8 million to his victims. U.S. District Judge Lyle Strom sentenced 47-year-old Bryan Behrens of Omaha on Monday. Prosecutors say Behrens lured mostly elderly investors under false pretenses and used their money to buy luxury […]
SEC: Halts Offering Fraud by Chicago-Based Firms
SEC Halts Offering Fraud by Chicago-Based Firms FOR IMMEDIATE RELEASE 2010-208 Washington, D.C., Oct. 29, 2010 — The Securities and Exchange Commission today obtained an emergency court order freezing the assets of two Chicago-based financial firms that were conducting a fraudulent offering of promissory notes. Additional Materials SEC Complaint Litigation Release No. 21715 The SEC […]
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