Month: July 2018

ponzi scheme
Investors

Victims of $102 Million Ponzi Scheme

The Securities and Exchange Commission filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S. According to the SEC’s press release, the defendants defrauded more than 600 investors through sales of securities in issuers they controlled, […]

Securities and Exchange Commission
Investors

Merrill Lynch Admits Masking to Defraud Customers

The Securities and Exchange Commission charged Merrill Lynch, Pierce, Fenner & Smith with misleading customers about how it handled their orders.  Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million penalty. According to the SEC’s order, Merrill Lynch falsely informed customers that it had executed […]