Florida Oil and Gas Fruad, Misrepresentation and Ponzi Scheme Litigation and Arbitration Attorney:
Financial Elder Abuse and Elder Exploitation - Boca Raton, Delray Beach, West Palm Beach and Fort Lauderdale, Florida Litigation and Arbitration Attorney:
The Securities and Exchange Commission recently charged a New York-based penny stock financier and his firms with violating the federal securities laws when they purchased billions of shares in a pair of microcap companies and failed to register them before they were re-sold to investors for sizeable profits.
Tampa, Fort Meyers and Naples, Florida Investment Adviser Fraud, Breach of Fiduciary Duty and Misrepresentation FINRA Arbitration and State and Federal Court Litigation Attorney:
Florida Fixed and Variable - Deferred and Immediate Annuity - Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney:
State of Florida Insurance Fraud, Regulation, Misrepresentation, and Negligence Litigation and Arbitration Attorney:
Florida Boiler Room, Penny Stock (Low Priced) and Ponzi Scheme FINRA Arbitration and State and Federal Court Litigation Attorney:
The Securities and Exchange Commission (Commission) Obtains Final Judgment against Defendants Charged with Perpetrating $35 Million International Boiler Room Scheme
Recnetly, the Commission announced that the United States District Court for the Central District of California entered a final, settled judgment against defendants Nicholas Louis Geranio, The Good One, Inc., and Kaleidoscope Real Estate, Inc. for their roles in a $35 million scheme to manipulate the market and to profit from the issuance and sale of certain U.S. companies' stock through offshore boiler rooms.
Security and Exchange Commission Obtains Summary Judgment against Defendants Charged With Defrauding Investors in Fictitious Offering
The Securities and Exchange Commission (SEC) recently announced that the United States District Court for the District of Columbia granted the SEC's motion for summary judgment against all primary defendants and certain relief defendants in a civil action arising from a prime bank investment scheme that defrauded at least 13 investors out of more than $2 million from August 2010 to November 2011. Pursuant to the court's ruling and judgment issued on August 26, 2013, the court permanently enjoined Washington D.C. attorney Brynee K. Baylor, her law firm Baylor & Jackson, P.L.L.C., and their former "client" The Milan Group, Inc. from violations of the antifraud and other securities law provisions, and from engaging in similar investment schemes. The court also required these defendants to pay disgorgement and penalties, required the Estate of Frank L. Pavlico to pay disgorgement, and barred Baylor from acting as an officer or director of any public company. The court required relief defendants Patrick T. Lewis and The Julian Estate to disgorge illegally obtained investor funds. The court granted in part or denied summary judgment against two other relief defendants, but declined in September 2013 to reconsider that ruling.
The Securities and Exchange Commission recently announced an emergency asset freeze to halt a Ponzi scheme involving U.S. and New Zealand-based companies peddling sham investment opportunities ranging from a bank trading program to kidney dialysis clinics.
In the Matter of OX Trading, LLC, optionsXpress, Inc., and Thomas E. Stern
The Commission issued an Order Making Findings and Imposing Remedial Sanctions and a Cease-and-Desist Order Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 as to OX Trading, LLC and optionsXpress, Inc. (OX Order). The OX Order finds that OX Trading, LLC (OX Trading) willfully violated Sections 15(a) and 15(b)(8) of the Securities Exchange Act of 1934 by operating as an unregistered dealer from October 2009 to November 2010 and transacting in securities while not a member of a national securities association or a national exchange from March 2009 to November 2010, respectively. The OX Order also finds that optionsXpress, Inc. caused OX Trading's violations. The OX Order ordered OX Trading and optionsXpress to cease and desist and ordered OX Trading to pay $2,750,000 in disgorgement, prejudgment interest of $253,094.39, and a civil money penalty of $750,000. (Rel. 34-70739).