Tuesday, April 3, 2018

SEC News - Fraud, Asset Freeze, and a Barred Adviser

SEC Charges Company and Executives in Oil-and-Gas Offering Fraud
The SEC has charged a Dallas-based oil-and-gas company and two of its executives with defrauding investors out of at least $950,000 through a string of fraudulent oil-and-gas securities offerings.

SEC Obtains Partial Asset Freeze of Proceeds in Alleged Fraudulent Touting Scheme
The SEC has filed fraud charges in a scheme to inflate the share price of an Israeli medical marijuana company’s common stock. The court entered a partial asset freeze of the proceeds of the alleged fraud.

Investment Adviser Settles Charges for Cheating Clients in Fraudulent Cherry-Picking Scheme
Charges have been settled against an Austin, Texas-based investment adviser for defrauding his clients through a “cherry-picking” scheme. The adviser, who is the principal, sole owner, and sole employee of Valor Capital Asset Management LLC, has agreed to be banned from the securities industry and pay more than $715,000 to resolve the charges.

SEC Foils Penny Stock Executive’s Plan to Pump Stock and Exploit Investors
The SEC barred the president of a penny stock company from ever again serving as a public company officer or director after he was caught making false and misleading statements about the company to investors in an effort to increase demand for the stock.

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 to mja@sallahlaw.com.
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