SEC‘s Emergency Action The U.S. Securities and Exchange Commission (SEC) has taken decisive action against a large-scale Ponzi scheme. They have obtained a temporary restraining order, asset freeze, and the appointment of a receiver to halt the operations of Agridime LLC and its owners, Josh Link and Jed Wood. Details […]
Tag: SEC Enforcement
Credit Suisse Entities to Pay $10 Million for Providing Prohibited Mutual Fund Services
Overview of the SEC Enforcement Action The Securities and Exchange Commission (SEC) announced an enforcement action against Credit Suisse Securities (USA) LLC and its affiliates, collectively referred to as the Credit Suisse Entities. This action, resulting in a settlement exceeding $10 million, stems from the entities’ engagement in prohibited underwriting […]
Unregistered Brokers and Companies Face SEC Charges in $525 Million Pre-IPO Fraud Scandal
The SEC has taken action against five unregistered brokers and four companies based in New Jersey and New York relating their alleged involvement in a widespread fraudulent scheme related to investments in pre-initial public offering companies (pre-IPO). According to the SEC the scheme has had far-reaching consequences, resulting in over […]
SEC Alleges $35 Million Fraud Against ArciTerra and CEO Jonathan Larmore
Washington D.C., Nov. 29, 2023 — The Securities and Exchange Commission (SEC) recently filed charges against ArciTerra Companies LLC, a Phoenix-based real estate investment firm, and its CEO, Jonathan M. Larmore. The allegations surround a complex, multi-year scheme to misappropriate over $35 million from investor funds managed by ArciTerra. Additionally, […]
9 Proven Strategies for Defending an SEC Investigation
Defending an SEC Investigaton Facing an SEC investigation can be a daunting challenge for any individual or organization and defending an SEC investigation takes experience and knowledge. The SEC is a formidable regulatory body with the authority to scrutinize financial activities, and being prepared for such an inquiry is crucial. […]
SEC Charges Kraken for Unregistered Securities Operations
Kraken operated its crypto trading platform as an unregistered securities exchange, broker, dealer, and clearing agency. SEC seeks an injunction, disgorgement and penalties
American Infrastructure Funds Settles SEC Charges
American Infrastructure Funds LLC (AIM), a registered investment adviser based in Foster City, California, has agreed to a settlement with the SEC, in which AIM will pay over $1.6 million to resolve charges brought against the firm. These charges stem from several alleged breaches of its duties as an investment […]
SEC Charges Mexico-based Company and CEO in $15 Million Ponzi Scheme Targeting Spanish-Speaking U.S. Investors
Sept. 21, 2023 — The SEC has taken action against Aras Investment Business Group S.A.P.I. de C.V., a Mexico-based company, along with its CEO Armando Gutierrez Rosas and four other individuals. These charges stem from their involvement in a fraudulent scheme that siphoned over $15 million from more than 450 […]
Hire a Securities Defense Attorney to Respond to an SEC Subpoena
Facing a subpoena can be a daunting experience for individuals and businesses involved in securities-related matters. The SEC wields substantial authority to investigate potential violations of securities laws, and responding to a subpoena demands a keen understanding of the legal process and regulations. However, I often see individuals who decide […]
SEC Charges Five Advisory Firms for Custody Rule Violations
We continue to see investigations of advisory firms for violations of the Custody Rule, which has specific requirements for the handling and reporting for firms that hold customer funds. The SEC has an extensive FAQ regarding the rule and the requirements for compliance. As always we are available to assist […]