The Securities and Exchange Commission (SEC) has obtained an asset freeze and other emergency relief in an emergency enforcement action against actor Zachary Horwitz and his company "1inMM Capital, LLC (one in a million).
The U.S. Securities and Exchange Commission (“SEC”) has filed a lawsuit against DeAndre P. Sears and his company MASears LLC, also known as Picasso Group
James Thomas Booth, a former advisor, has been sentenced to 42 months in prison for running a Ponzi scheme, ThinkAdvisor reported.
Keith T. Ashley, a financial advisor who was already under an FBI investigation for an alleged Ponzi scheme, has been charged with murder.
Matthew Piercey has been arrested by the FBI for his role in an alleged Ponzi scheme. Piercey, along with his business partner, Kenneth Winton, were indicted last week by a grand jury.
Patrick O. Howard has pled guilty to running a $13 million “Ponzi-type scheme” in a federal court in Texas.
The U.S. Securities and Exchange Commission (“SEC”) filed a Complaint against Cygnus Capital Management and the estate of Richard Ventrilla, the firm’s former president and owner.
Anthony Wayne March, former operator of the non-profit organization Asset Trader in Rolesville, North Carolina, has plead guilty to a federal charge of conspiracy to commit wire fraud. The charge stems from an alleged $8.1 million Ponzi scheme.
Co-founder and managing partner of International Investment Group, David Hu, was arrested and charged with running Ponzi scheme of more than $100 million. Federal authorities accused Hu of overvaluing loans and covering up the scheme with falsified documents and fake entities. According to federal authorities, the scheme has gone on for more than 10 years.
In connection with an alleged $6.3 million Ponzi scheme, Phillip Roy Wasserman and Kenneth Murry Rossman (collectively, “Defendants”) have been charged by federal prosecutors with mail fraud, wire fraud, and conspiracy to commit wire and mail fraud. Defendants are alleged to have targeted elderly individuals and convinced those individuals to liquidate traditional investments in order to invest in “FastLife,” an insurance venture by Wasserman. Wasserman and Rossman are alleged to have made fraudulent misrepresentations and to have concealed material information when soliciting investments in FastLife.
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Apex Clearing, the clearing arm of Apex Fintech Solutions, has agreed to pay $3.2 million to settle FINRA allegations that it failed to ensure customers received compensation for lending their securities.
A recent congressional hearing examined potential reforms to the accredited investor definition, a critical threshold determining who can participate in private market investments.
GPB Capital Holdings investors have not received returns on their investments since 2018. According to InvestmentNews, after years of litigation, a court-appointed receiver has submitted a plan to return funds to the 17,000 investors who purchased $1.8 billion in GPB limited partnerships.
