Wednesday, April 27, 2016

SEC News - Fraud Charges and Hiding Financial Troubles

SEC Announces Financial Fraud Cases
The SEC has announced a pair of financial fraud cases against companies and then-executives accused of various accounting failures that left investors without accurate depictions of company finances.

Litigation Marketing Company Charged With Bilking Retirees
A Los Angeles-based litigation marketing company and its co-founders have been charged with defrauding retirees and other investors who were told their money would be used to help gather plaintiffs for class-action and other lawsuits and they would earn hefty investment returns from settlement proceeds.

SEC Case Freezes Assets of Ski Resort Steeped in Fraudulent EB-5 Offerings
Fraud charges and an asset freeze have been announced against a Vermont-based ski resort and related businesses allegedly misusing millions of dollars raised through investments solicited under the EB-5 Immigrant Investor Program.

Town Officials in New York Hid Financial Troubles From Bond Investors
Ramapo, N.Y., its local development corporation, and four town officials now face fraud charges for allegedly hiding a deteriorating financial situation from their municipal bond investors.

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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