United Kingdom Court of Appeal Upholds SEC Asset Freeze Order Against Defendant in SEC Case Alleging Fraud by a Hedge Fund Manager
The Commission announced that on January 28, the Supreme Court of Judicature Court of Appeal in the United Kingdom dismissed the appeal of Glenn Manterfield, a citizen of the United Kingdom, of an order [...]
Mary Schapiro Sworn In as Chairman of SEC
FOR IMMEDIATE RELEASE
2009-11
Mary Schapiro is sworn in as new SEC Chairman
Washington, D.C., Jan. 27, 2009 — The Securities and Exchange Commission today announced that Mary L. Schapiro was sworn in this morning as the 29th Chairman of the SEC. The oath of office was administered by SEC Commissioner [...]
The SEC announced that a Massachusetts broker, who was acting as an investment advisor at the time, defrauded a number of investors out of $2 million or more. The fraudster used the money, which was supposed to be invested in non-existent “federal housing certificates,” to buy clothes and liquor. The full release is reprinted in [...]
The SEC release below describes another hedge fund fraud case. As is typical with many of the hedge fund fraud cases, some simple hedge fund due diligence would have paid off for investors. Here, the manager made many false claims which would have been uncovered if investors had simply taken the time to check up [...]
Today, the Commission filed a civil injunctive action in the United Stated District Court for the Western District of New York and a motion for a temporary restraining order and asset freeze against defendants Gen-See Capital Corporation a/k/a Gen Unlimited (”Gen-See”) and its owner and president, Richard S. Piccoli. The Commission is also seeking an [...]
While the press release below does not deal specifically with hedge funds, it does deal with a securities fraud which was caught by the SEC. It seems that the SEC is keen about highlighting all of its anti-fraud actions in like of the Madoff and other notorious hedge fund scandals. We will continue to update [...]