Articles Posted in SEC Actions

Jason Galanis pled guilty to charges that he convinced an Oglala Sioux tribal entity to issue $63 million in tribal bonds, having associates peddle those bonds on unsuspecting investors and collecting the proceeds of the sale. Our attorneys opened an investigation into the matter and Burnham Securities, Inc.’s (CRD# 22549)…

The U.S. Securities and Exchange Commission (SEC) has charged former Boston resident, and current Miami resident, Mark A. Jones with operating a $10 million Ponzi scheme that claimed to generate profits from “bridge loans” to Jamaican businesses. According to the SEC’s Complaint — filed earlier this month in federal court…

The Securities and Exchange Commission announced fraud charges and asset freezes obtained in a case filed on March 21, 2016 against a New Jersey-based fund manager and two firms he controls for orchestrating a Ponzi-like scheme that marketed shares in promising pre-IPO technology companies in the Bay Area. The SEC…

On February 18, 2016, the FBI raided the headquarters of UDF, the manager of a family of real estate investment trusts (“REITs”) and other funds, sending shares of UDF’s largest fund, United Development Funding IV (“UDF IV”), tumbling 54% before NASDAQ halted trading, according to InvestmentNews. The FBI raid is…

The Securities and Exchange Commission announced fraud charges against a Manhattan-based lending company and its placement agent for falsely stating that its financial statements were being audited and lying about the returns on the loans. The SEC filed a complaint in federal district court in Manhattan against lending company American…

Allegations state that since 1992, Brogdon has conducted fraud through at least 43 of the entities he owns or controls Former broker Christopher Brogdon, who was a licensed broker at Dean Witter Reynolds in New York from 1978 to 1991, was permanently barred from membership in the National Association of…

Bank-issued structured notes under scrutiny after sustained losses over a 2 year period A risk alert issued in August by the Securities and Exchange Commission (SEC) has prompted legal investigations into potential claims by investors. In its alert, the SEC announced it had analyzed 26,600 structured product transactions that equaled…

According to one accused, they “robbed Peter to pay Paul” while living the high life Living the high life has come to an end for five Arizona who were charged with stealing millions from investors by the SEC. According to the SEC release on September 11, the participants allegedly used…

According to recent SEC allegations, from approximately mid-2009 through at least July 2014, Jacob and Innovative Business Solutions, LLC (“IBS”), which Jacob owns and controls, engaged in a fraudulent scheme involving material misrepresentations and omissions and other deceptive devices and practices. Jacob engaged in this scheme in order to obtain…

Each faces a one-year suspension for alleged unregistered sale of penny stocks On Thursday, the Securities and Exchange Commission announced settlements in the cases of three Oppenheimer & Co. employees in Boca Raton, Florida. Scott A. Eisler, Arthur M. Lewis and Robert Okin allegedly were involved in the unregistered sale…