Wednesday, May 17, 2017

SEC News - Fraud, Accounting Failures, and Whistleblower Award

SEC Charges EB-5 Operator With Securities Fraud
An Idaho man has agreed to pay back several million dollars he siphoned away for personal use rather than investing it as promised to create U.S. jobs through the EB-5 Immigrant Investor Program.

Executives Charged in Connection With Accounting Failures at Government Contractor
The SEC has charged two former executives at a government contractor that was the subject of an SEC enforcement action earlier this year and paid a $1.6 million penalty for accounting failures.

Broker Charged With Defrauding Customers
A former broker has been charged with knowingly or recklessly trading unsuitable investment products in the accounts of five customers and misappropriating more than $170,000 from one of those customers.

SEC Awards Nearly $4 Million to Whistleblower
Nearly $4 million is being awarded to a whistleblower who tipped the agency with detailed and specific information about serious misconduct and provided additional assistance during the ensuing investigation, including industry-specific knowledge and expertise.

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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