Wednesday, September 23, 2015

SEC News - Manipulated Stocks, Accounting and Disclosure Failures, Fraud

Medical Diagnostics Company Chairman and Two Others Behind Scheme to Manipulate Company Stock
The executive chairman of a Massachusetts-based medical diagnostics company and two others have been charged with conducting a pump-and-dump scheme that was ultimately thwarted when the SEC suspended trading in the company’s securities before the secretly controlled shares could be dumped on unsuspecting investors.

Clearing Firm Officials Charged for Improper Margin Loans, Accounting and Disclosure Failures
Four former clearing firm officials have been charged for their roles in a series of accounting and disclosure failures stemming from decisions to extend credit to certain customers beyond what is allowed under the federal securities laws.

Florida-Based CPA Charged with Fraud for Issuing Bogus Audit Opinions
The SEC has imposed sanctions against a Florida-based certified public accountant for performing deficient and fraudulent audits and quarterly reviews for eight publicly traded companies, and issuing false and misleading audit opinions on the companies’ annual financial statements.


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