Friday, January 13, 2017

SEC News - Fraudulent EB-5 Offerings, Hackers, and FCPA Charges

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Businessman Settles Charges of Fraudulent EB-5 Offering
A Florida-based businessman has agreed to settle charges that he misused investor funds intended to create U.S. jobs through the EB-5 Immigrant Investor Program.

SEC Charges Lawyer With Stealing Investor Money in EB-5 Offerings
A California-based attorney has been charged with defrauding investors seeking to participate in the EB-5 immigrant investor program, stealing their money to buy a yacht and prop up his other businesses.

Chinese Traders Charged With Trading on Hacked Nonpublic Information Stolen From Two Law Firms
Three Chinese traders have been charged with fraudulently trading on hacked nonpublic market-moving information stolen from two prominent New York-based law firms, racking up almost $3 million in illegal profits. The SEC also is seeking an asset freeze that prevents the traders from cashing in on their illicit gains. The enforcement action marks the first time the SEC has charged hacking into a law firm’s computer network.

Teva Pharmaceutical Paying $519 Million to Settle FCPA Charges
Teva Pharmaceutical Industries Limited has agreed to pay more than $519 million to settle parallel civil and criminal charges that it violated the Foreign Corrupt Practices Act by paying bribes to foreign government officials in Russia, Ukraine, and Mexico.

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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