Saturday, January 31, 2015

SEC News - Broker Fraud, FCPA and Penny Stock Charges

Investment Adviser and Manager Charged in South Florida-Based Fraud

A Fort Lauderdale, Florida-based investment advisory firm, its manager, and three related funds are now facing fraud charges and an asset freeze for a scheme that raised more than $17 million since November 2013.

A former officer at a Tampa, Fla.-based engineering and construction firm has been charged with violating the Foreign Corrupt Practices Act (FCPA) by offering and authorizing bribes and employment to foreign officials to secure Qatari government contracts. 

Oppenheimer & Co. is facing charges for violating federal securities laws while improperly selling penny stocks in unregistered offerings on behalf of customers.
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