Securities

Recent Posts

SEC Files Another Offering Fraud Action
Posted on 6 Jun 2013 by Thomas O. Gorman

Offering frauds continue to be the focus of the SEC Enforcement Division. Echoing claims from other recent cases, such as In the Matter of Scuderi Group, Inc., Adm. Proc. File No. 3-15344 (Filed May 30, 2013) (repeated share placements made under a... Read More

SEC Files Offering Fraud Action
Posted on 14 Apr 2015 by Thomas O. Gorman

The Commission filed another offering fraud action tied to the sale of interests in the development of oil and gas wells prior to the recent downturn in the price of oil. Beginning in 2010 the defendants raised about $4.4 million from 60 investors through... Read More

SEC Files Prime Bank Fraud and Offering Fraud Actions as Administrative Proceedings
Posted on 27 Jan 2015 by Thomas O. Gorman

The trend of selecting administrative proceedings rather than Federal court by the SEC appears to be continuing. Since last September, for example, the SEC has filed at least seven insider trading cases as administrative proceeds. Previously, the agency... Read More

SEC Files Offering Fraud Action Against Radio Show Hosts
Posted on 12 May 2015 by Thomas O. Gorman

The SEC filed another offering fraud action, a staple of enforcement. This action centers on two recidivist radio talk show hosts selling interest in life settlements based on enhancements of their investment credentials, omissions of their regulatory... Read More

SEC Brings an Offering Fraud Action Against a Claimed App Maker
Posted on 20 Aug 2014 by Thomas O. Gorman

The SEC brought an action against a reputed “app” manufacturer who sold shares in two different entities beginning first in Colorado and later from Georgia. From each location, and for each entity, the sales pitch was essentially the same... Read More

SEC Files Offering Fraud Charges Based in Part on EB-5 Program
Posted on 7 Jul 2015 by Thomas O. Gorman

The EB-5 program , which promises a path to a permanent green card for those who can invest in this country and create jobs, has been involved in a number of SEC enforcement actions, most recently involving unregistered broker charges. In a case filed... Read More

Another Offering Fraud Case
Posted on 8 Feb 2012 by Thomas O. Gorman

Cases involving the sale of unregistered securities and Ponzi schemes were among the leading categories of cases brought last year according to recent statistics from NERA Economic Consulting ( here ). The Commission's action against Kenneth Dachman... Read More