On October 1, 2013 the Securities and Exchange Commission (SEC) announced fraud charges in U.S. District Court for the Southern District of Texas against a Texas based EB-5 Regional Center USA Now Regional Center LLC for misappropriating the investment... Read More
The government’s EB-5 program is supposed to be a win win for everyone. For immigrants seeking admission to the United States it is supposed to provide a path to citizenship if the requirements, centered on the investment of $500,000 or more in... Read More
The Securities and Exchange Commission has charged and frozen the assets of Ariel Quiros of Miami, FL, William “Bill” Stenger of Newport, VT, Q Resorts Inc. and Jay Peak Inc. in connection with violations of the antifraud provisions of Section... Read More
Los Angeles-based EB-5 attorney Justin Moongyu Lee, and his wife Rebecca Taewon Lee and his law firm partner Thomas Edward Kent were charged by the Securities and Exchange Commission today with securities fraud. Misrepresentation to the Investors ... Read More
by Trent Dykes , Megan Muir and Kiran Lingam I. Introduction / Background With the passage of the JOBS Act, the regulation governing most private securities offerings is undergoing a dramatic makeover. Congress tasked the Securities and Exchange... Read More
The SEC has recently issued interpretations regarding Rule 147 . This rule provides a safe harbor under Section 3(a)(11) of the Securities Act of 1933, as amended, which exempts from federal registration securities offered and sold only to persons resident... Read More
The SEC has recently intensified its enforcement efforts against crowdfunding portals. The SEC's main focus is on these two legal issues: whether the crowdfunding portals offer and sell securities in unregistered transactions to US persons in violation... Read More
On August 12, 2013, the crowdfunding platform AngelList submitted some really great and thoughtful comments to the SEC with respect to the SEC’s proposed Reg. D amendments related to new Form D filing requirements and enhanced penalties for failure... Read More
Assisted living facilities (ALFs) have always been a popular choice for EB-5 investors. On December 3, 2013, the Securities and Exchange Commission (SEC) announced securities fraud charges against top executives at an assisted living facility. What is... Read More
Some interesting news today out of the SEC about new enforcement actions by the SEC against hedge funds - specifically, against three separate advisory firms and six individuals for alleged violations initially uncovered through the results of SEC... Read More
The reorganization of the Division of Enforcement which spawned the re-introduction of specialty groups was, in part, designed to focus the resources of the Division and increase efficiency and effectiveness. Three recently filed cases are an example... Read More
Yesterday, Bruce Carton of Securities Docket hosted a webinar: The SEC's Asset Management Unit and Strategies for Avoiding Trouble in 2011 and Beyond . He managed to get Bruce Karpati, the co-head of the SEC's Asset Management unit, to participate... Read More
by Dan Crowley, Karishma Shah Page, Bruce Heiman, Collins R. Clark and Justin D. Holman Excerpt: On December 11, the House of Representatives passed H.R. 4173, the Wall Street Reform and Consumer Protection Act of 2009 (see H.R. 4173 as introduced... Read More
Most of the investment fund cases brought by the SEC in recent months have centered on Ponzi scheme claims. Recent enforcement actions involving hedge funds, however, suggest that perhaps a new trend is coming. Consider for example, the SEC's recent... Read More
The Securities and Exchange Commission filed civil fraud charges against a Massachusetts company and its principals and promoters, arguing the company was a massive Ponzi and Pyramid scheme that raised at least $15 million from primarily Spanish and Portuguese... Read More