Tuesday, October 31, 2017

SEC News - Fraud, Investment Scam, and a Million Dollar Award


Former Private Equity Firm Partner Charged With Secretly Billing Clients for His Vacations and Salon Visits
A former senior partner at Apollo Management L.P. has been charged with defrauding his fund clients by secretly billing them for approximately $290,000 in personal expenditures, including his family vacations, visits to a hair salon, and purchases of designer clothing and high-end elec
tronics.

Rio Tinto, Former Top Executives Charged With Fraud
Mining company Rio Tinto and two former top executives have been charged with fraud for inflating the value of coal assets acquired for $3.7 billion and sold a few years later for $50 million.

SEC Announces Whistleblower Award of More Than a Million Dollars
A whistleblower has earned an award of more than $1 million for providing the SEC with new information and substantial corroborating documentation of a securities law violation by a registered entity that impacted retail customers.

Lawyers Charged With Assisting a Microcap Fraud Scheme
The SEC charged two lawyers it alleges helped facilitate a microcap fraud scheme involving undisclosed “blank check” companies secretly bound for reverse mergers.

SEC Files Charges in Snack Company Investment Scam
Three individuals defrauded investors in a company that falsely claimed to be developing a caffeinated chocolate snack and nearing an acquisition by Monster Energy or Coca-Cola Co.

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The attorneys at Sallah Astarita & Cox include veteran securities litigators and former SEC Enforcement Attorneys. We have decades of experience in securities litigation matters, including the defense of enforcement actions. We represent investors, financial professionals and investment firms, nationwide. For more information call 212-509-6544 or send an email.
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