Monday, March 2, 2015

SEC News: Insider Trading, Pyramid Schemes, Fraudulent Deception

Charges Against Atlanta Man Accused of Insider Trading in Advance of Tender Offer
An Atlanta resident has been accused of insider trading in the stock of a technology company by exploiting nonpublic information he learned from the friend of a company executive.

An investment adviser to several alternative mutual funds faces charges for maintaining millions of dollars of the funds’ cash collateral at broker-dealer counterparties instead of the funds’ custodial bank.  The violations were uncovered during an SEC examination of the firm and the funds it manages.

Fraud Charges Announced Against Purported Hedge Fund Manager
A purported hedge fund manager in New York City has been charged with stealing money from his investors.

SEC Halts Colorado-Based Pyramid Scheme
Fraud charges and an emergency asset freeze have been announced against two operators of a Colorado-based pyramid and Ponzi scheme that promises investors extraordinary returns of 700 percent through a purported “triple algorithm” and “3-D matrix.”

New York-Based Brokerage Firm and CEO Charged With Committing Fraud During CDO Liquidation Auctions

A New York City-based brokerage firm and its CEO has been charged with fraudulently deceiving other market participants while conducting auctions to liquidate collateralized debt obligations (CDOs).

Brothers-in-Law in Louisiana Charged With Insider Trading
Insider trading charges have been filed against a former Fortune 500 company executive and his brother-in-law whom he allegedly tipped with nonpublic information ahead of the company’s merger.
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