Tuesday, December 26, 2017

SEC News - Ponzi Scheme, Cash Kickbacks, and Insider Trading


Broker Charged With Giving Special Access to IPOs for Cash Kickbacks
A Wall Street stockbroker has been charged with illegally accepting more than $1 million in undisclosed kickbacks for giving certain customers preferential access to lucrative IPOs, enabling them to reap major trading profits in the secondary markets.

SEC Charges Biopharmaceutical Company With Failing to Properly Disclose Perks for Executives
A biopharmaceutical company has been charged with committing a series of accounting controls and disclosure violations, including the failure to properly report as compensation millions of dollars in perks provided to its then-CEO and then-CFO.

Stock Trader Charged in Insider Trading Ring
The SEC charged a former day trader with making more than $1 million in illegal insider trading profits as part of a ring that allegedly stole confidential information from investment banks and clients so they could trade in advance of secondary stock offerings.

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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