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Feb 1, 2017

Dwayne Edwards Accused Of Fraud By SEC

By |February 1st, 2017|10b-5, Alabama, Bonds, Fraud, Legal Matters, Misrepresentation and Fraud, Press Releases & News, SEC, Securities Act of 1933, Securities and Exchange Act, Securities Law Violations|

The SEC charged Dwayne Edwards with fraud and obtained an emergency asset freeze against the South Carolina businessman. The SEC alleges that he funneled money he obtained from investors who believed their money would be used for buying and renovating senior housing facilities. According to the commission, Dwayne Edwards illicitly commingled funds from a number [...]

Jan 14, 2016

SEC Charges Edward Durante With Securities Fraud

By |January 14th, 2016|10b-5, Fraud, Misrepresentation and Fraud, Press Releases & News, SEC, Securities Act of 1933, Securities and Exchange Act, Securities Law Violations|

The SEC charged Edward Durante, a recidivist securities law violator, with operating a multi-year offering fraud that targeted investors in New England, Ohio, and California. The SEC’s complaint alleges that between 2012 and 2014, Durante defrauded at least 50 relatively unsophisticated investors of at least $11 million through the sale of securities of VGTel, Inc., a [...]

Dec 23, 2015

FINRA December 2015 Disciplinary Actions: Part I

By |December 23rd, 2015|10b-5, Bonds, Failure To Supervise, FINRA, FINRA News, Press Releases & News, Securities and Exchange Act, Securities Law Violations|

Brookstone Securities, Inc. (Lakeland, FL) was censured, fined $1,000,000 and required to pay, jointly and severally with Christopher Dean Kline (Baraboo, Wisconsin) and Antony Lee Turbeville (Lakeland, FL) $1,620,100 plus prejudgment interest in restitution to their respective customers. Kline and Turbeville were barred from association with any FINRA member in any capacity. David William Locy (Overland [...]

Oct 14, 2015

Fiat Chrysler Investigated For Alleged Securities Fraud

By |October 14th, 2015|Fraud, Misrepresentation and Fraud, Press Releases & News, Securities and Exchange Act, Securities Law Violations|

Fiat Chrysler Automobiles N.V. is being investigated for allegedly violating specific sections of the Securities Exchange Act of 1934 by issuing materially misleading information to the investing public pertaining to the company's compliance with safety recalls. In July, the National Highway Traffic Safety Administration announced an enforcement action and record $105 million fine imposed on [...]

Jul 6, 2015

Gold Mining Ponzi Scheme Targets Latinos in Florida

By |July 6th, 2015|10b-5, Fraud, Misrepresentation and Fraud, Ponzi Scheme, Press Releases & News, Securities Act of 1933, Securities and Exchange Act, Securities Law Violations|

On July 2, 2015, the SEC froze a fraudulent venture headed by DFRF Enterprises, its leader, and six promoters. The SEC alleges that DFRF Enterprises operated a Ponzi scheme by promoting and selling membership interests in over 50 Brazilian and African gold mines.  The company recruited investors by promising large profits on fully insured funds used [...]

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