Friday, April 24, 2015

SEC News - Military Investment Scheme, Stolen Funds, Reverse Merger Fraud

SEC Halts Investment Scheme Targeting Military Personnel
A man living in central Texas faces fraud charges and an asset freeze after being accused of telling false tales about his stockbroking experience to lure current and former U.S. military personnel into investing with him.

New York-Based Financial Advisor Charged With Stealing $20 Million From Customers
A New York City-based financial advisor faces fraud charges after being accused of stealing at least $20 million from customers to fund his own brokerage accounts and then squandering the bulk of the money in highly unprofitable options trading.

10 Individuals Charged in Scheme to Sell Stock in Blank Check Companies Secretly Bound for Reverse Mergers
Fraud charges have been announced against 10 individuals involved in a scheme to offer and sell penny stock in undisclosed “blank check” companies bound for reverse mergers while misrepresenting to the public that they were promising startups with business plans.
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