Yesterday the Senate Banking Committee held a hearing on the Madoff scandal. Those present included: Senator Christopher J. Dodd; Professor John C. Coffee, Adolf A. Berle Professor of Law, Columbia University Law School; Dr. Henry A. Backe, Orthopedic Surgeon; Ms. Lori Richards, Director, Office of Compliance Inspections and Examinations, U.S. Securities and Exchange Commission; Ms. [...]
SEC Charges Paul M. Gozzo and PMG Capital, LLC With Fraud in the Market Manipulation of Microcap Stocks
Gozzo and PMG Capital Agree to Settle Charges
The Securities and Exchange Commission today filed a settled complaint against Paul M. Gozzo and PMG Capital, LLC of Jupiter, Florida, alleging that they violated the federal securities laws by manipulating [...]
SEC Charges Madoff Auditors With Fraud
FOR IMMEDIATE RELEASE
2009-60
Washington, D.C., March 18, 2009 — The Securities and Exchange Commission today charged the auditors of Bernard Madoff’s broker-dealer firm with committing securities fraud by representing that they had conducted legitimate audits, when in fact they had not.
Additional Materials
In its complaint filed in federal court in Manhattan, the [...]
SEC Charges Madoff Auditors With Fraud
FOR IMMEDIATE RELEASE
2009-60
Washington, D.C., March 18, 2009 — The Securities and Exchange Commission today charged the auditors of Bernard Madoff’s broker-dealer firm with committing securities fraud by representing that they had conducted legitimate audits, when in fact they had not.
In its complaint filed in federal court in Manhattan, the SEC [...]
Ponzi Schemes Included Classic Forex Frauds
I have reprinted the following releases from the CFTC website. It is obvious the CFTC has had their hands full as more and more Ponzi schemes come to light.
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Release: 5635-09
For Release: March 18, 2009
CFTC Charges North Carolina Foreign Currency Firm Barki, LLC and Its Recently Deceased Principal Bruce C. Kramer [...]
The people who run these Prime Bank scams are nasty characters. If you hear these two words, run as quickly as possible in the opposite direction.
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SEC v. Zahra Ghods and RUSA Cap., Inc., Defendants, and Unisource Cap., LLC, Relief Defendant
The Commission announced today that, on Feb. 26, 2009, United States District Court Judge Clarence B. [...]
SEC Obtains Preliminary Injunction Against Hedge Fund and its Investment Adviser for Fraud in Minnesota
On Feb. 25, 2009, the Commission obtained a preliminary injunction order, by consent, in the U.S. District Court of Minnesota against Paramount Partners, LP (Paramount), a hedge fund, Crossroad Capital Management, LLC (Crossroad), Paramount’s investment adviser, and John W. Lawton (Lawton), [...]
SEC Charges Los Angeles-Based Investment Adviser for Taking Warrants Paid for by Clients
FOR IMMEDIATE RELEASE
2009-40
Washington, D.C., March 3, 2009 — The Securities and Exchange Commission has announced an enforcement action against Los Angeles-based investment adviser M.A.G. Capital LLC and its president and sole owner, David F. Firestone, for taking warrants from three hedge funds that [...]
SEC v. Shelby Dean Martin, D. Martin Enterprises, Inc. and DM Ventures, LLC
The Commission announced that on March 6, 2009, it filed a Complaint in the United States District Court for the Western District of North Carolina to halt an ongoing Ponzi scheme. The Complaint was filed against Shelby Dean Martin (Martin), D. Martin Enterprises, [...]
SEC Obtains Emergency Asset Freeze to Halt Multi-Million Dollar Real Estate Investment Fraud
The Securities and Exchange Commission yesterday charged Los Angeles resident Bruce Friedman and two of his companies with securities fraud, and obtained an emergency court order to freeze their assets and halt an alleged ongoing investment scheme involving purported real estate and mortgage [...]