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...
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...
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...
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 ...
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...
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...
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...
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...
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...
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...
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...
Yesterday, Bruce Carton of Securities Docket hosted a
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...
by Dan Crowley, Karishma Shah Page, Bruce Heiman, Collins
R. Clark and Justin D. Holman
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...
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...
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...