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Virtual currencies such as bitcoin have grown in popularity. With that popularity it may well have been inevitable that the SEC would bring enforcement actions centered on the new phenomenon, alleging fraud. A new variation of those actions is the predicate...

Below is a summary of the activity reported for November 2015. The reported stories reflect: 3 guilty pleas or convictions in pending cases; over 77 years of newly imposed sentences for people involved in Ponzi schemes; at least 9 new Ponzi schemes worldwide;...

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 ...

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...

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 SEC brought two investment fraud actions. One centered on defendant Thomas J. Lawler, known as the Reverend Tom, and the sale of administrative remedies or ARs which eliminated the purchaser’s debt while yielding significant profits. SEC v....

Three former investment advisers – William J. Ferry, a former stock broker and investment adviser; Dennis J. Clinton, a former real estate investment manager; and Paul R. Martin, a former senior vice president and managing director of Bankers Trust...

In what is being touted as one of the largest investment scams in Boston since Charles Ponzi's infamous scheme nearly 100 years ago, Massachusetts authorities unveiled additional charges against a husband, wife, and previously-uncharged son for orchestrating...

A 26-year old south Florida man is expected to plead guilty to criminal charges that he masterminded a $10 million Ponzi scheme that financed a his worldwide jet-setting lifestyle. Donald R. French Jr., 26, is scheduled to appear before a Florida...

NEW YORK — (Mealey’s) The U.S. Commodities Futures Trading Commission (CFTC) on June 27 filed a civil complaint in the U.S. District Court for the Southern District of New York, alleging that Jon S. Corzine, as CEO of bankrupt MF Global Holdings...

A Hawaiian man who once served as an Army reservist and former president of the Filipino Chamber of Commerce has been sentenced to four years in prison for masterminding a $1.6 million Ponzi scheme that bilked over 30 investors. Jason Pascua, 39, received...

A federal jury needed just six minutes to return with a guilty verdict against a Texas man on trial for a $11 million Ponzi scheme. Gary Lynn McDuff, 58, was convicted of one count of conspiracy to commit wire fraud and one count of money laundering...

The Commission filed another action in which admissions were required as part of the settlement. The action centers on an investment adviser who misappropriated just under $2 million from his clients. As part of the settlement he admitted the theft. SEC...

Earlier this month Commission officials testified on Capitol Hill regarding the failure of the agency to investigate the alleged Stanford Ponzi scheme at an earlier date. Lawmakers were assured that a series of steps have been taken to preclude a repetition...

The SEC concluded its litigation with a father – daughter combination that solicited investors to purchase promissory notes based on representations that there would be risk free returns from forex trading. There were no returns, however, and most...