Thursday, March 23, 2017

SEC News - Insider Trading, Manipulating Accounting Systems, Fraud

Auditor Charged With Insider Trading on Client’s Nonpublic Information
An auditor based in the Silicon Valley has agreed to settle charges that he traded on inside information about a client on the verge of a merger.

Executives Charged With Manipulating Company's Accounting Systems to Steal Money
Two former executives at a credit card processing company have been charged with masterminding a fraudulent scheme to steal millions of dollars through phony expense reimbursements, inflated invoices, and other improper accounting tactics.

SEC Charges Marijuana-Related Company and Executives With Touting Bogus Revenues
A California-based company and its founder are facing charges for falsely touting “record” revenue numbers to investors and claiming to be a leader in the marijuana industry while some of its earnings came from sham transactions with a secret affiliate.

Mexico-Based Homebuilder Charged in $3.3 Billion Accounting Fraud
Mexico-based homebuilding company Desarrolladora Homex S.A.B. de C.V. has agreed to settle charges that it reported fake sales of more than 100,000 homes to boost revenues in its financial statements during a three-year period.

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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