Friday, November 25, 2016

SEC News - Manipulation, Fraud, and FCPA Charges

Company Co-Founder Charged in Manipulation Scheme
The co-founder of a Minnesota-based energy company has been charged with manipulating its stock price and concealing his control of the company to attain lucrative financial payouts.

Audit Partner Charged in Failed Audits of Venture Capital Fund
The SEC has announced proceedings against a PricewaterhouseCoopers audit partner who served as engagement partner for the independent audits of a venture capital fund.

Firm and Partner Charged With Issuing Fraudulent Audit Reports
A New York-based audit firm and a senior partner agreed to settle charges that they issued fraudulent audit reports in connection with municipal bond offerings by the town of Ramapo, N.Y., and its local development corporation.

Investment Adviser Fraudulently Overbilled Clients, Stole Assets for Personal Expenses
A Los-Angeles based investment advisory firm and its owner face charges for fraudulently overbilling clients and stealing assets from their trusts to pay such personal expenses as his home mortgage, overseas trips, and leases on two Mercedes-Benz vehicles.

Embraer Paying $205 Million to Settle FCPA Charges
The SEC announced a global settlement along with the U.S. Department of Justice and Brazilian authorities that requires aircraft manufacturer Embraer S.A. to pay more than $205 million to resolve alleged violations of the Foreign Corrupt Practices Act (FCPA).

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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