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Displaying 21-30 out of 32 results for "Structured Products".

SEC Litigation Releases: Week in Review - November 23rd, 2012

(Nov 2012)

Brian Stoker Found Not Liable
November 21, 2012, (Litigation Release No. 22541)
On July 31, 2012, the United States District Court for the Southern District of New York found Brian H. Stoker, former Citigroup Global Markets Inc. employee, "not liable for violations of the Federal securities laws related to the issuance of a $1 billion collateralized debt obligation (CDO) called Class V Funding III." The SEC did not appeal the verdict, and "the time for appeal has expired." The SEC filed its...

SEC Litigation Releases: Week in Review - September 28th, 2012

(Sep 2012)

Court Enters Final Judgments by Consent Against SEC Defendants Shay Keren and Lawrence Steven Cohen
September 27, 2012, (Litigation Release No. 22498)
The SEC announced that final judgments have been entered against Shay Keren and Lawrence Steven Cohen which permanently enjoins them from violating sections of the Securities Act and Exchange Act as well as bars them from "participating in an offering of penny stock for a period of five years." The SEC filed a complaint in September 2008 against...

SEC Litigation Releases: Week in Review - September 21st, 2012

(Sep 2012)

SEC Charges Atlanta-Based Adviser with Operating Ponzi-Like Scheme Involving Private Investment Funds
September 19, 2012, (Litigation Release No. 22485)
Earlier this week, the SEC filed a civil complaint charging Angelo A. Alleca with "defrauding investors in a purported "fund-of-funds" and then trying to hide trading losses by creating new private funds to make money to pay back the original fund investors in Ponzi-like fashion." Rather than investing investor funds in Summit Investment Fund,...

SEC Litigation Releases: Week in Review - August 31st, 2012

(Aug 2012)

SEC Charges Brokers for Defrauding Brazilian Public Pension Funds in Markup Scheme
August 29, 2012, (Litigation Release No. 22462)
According to the complaint (opens to PDF), Fabrizio Neves conducted a markup scheme while working at LatAm Investments LLC. The complaint alleges that from 2006 to 2009 Neves, with the assistance of Jose Luna, overcharged customers around $36 million "by using hidden markup fees on structured note transactions." Neves allegedly made millions in inflated sales...

SEC Litigation Releases: Week in Review - August 24th, 2012

(Aug 2012)

SEC Charges New York-Based Firm and Owner in Penny Stock Scheme
August 23, 2012,(Litigation Release No. 22457)
Edward Bronson and his company, E-Lionheart Associates LLC (which also conducts business under the name Fairhills Capital Inc.), have been charged by the SEC with conducting a penny stock scheme in which they allegedly reaped over $10 million in illegal profits. The alleged scheme involved buying shares at deep discounts from over 100 penny stock companies and then selling them...

SEC Litigation Releases: Week in Review - August 17th, 2012

(Aug 2012)

SEC Charges Oracle Corporation with FCPA Violations Related to Secret Side Funds in India
August 16, 2012, (Litigation Release No. 22450)
According to the complaint (opens to PDF), the Indian subsidiary of Oracle Corporation, Oracle India Private Limited, "structured transactions with India's government...in a way that enabled Oracle India's distributors to hold approximately $2.2 million of the proceeds in unauthorized side funds." Oracle India's alleged misconduct occurred from 2005 to 2007,...

SEC Litigation Releases: Week in Review - August 10th, 2012

(Aug 2012)

SEC Charges Participants in $5 Million Boiler Room Scheme
August 10, 2012, (Litigation Release No. 22444)
The SEC charged Edward M. Laborio, Jonathan Fraiman, Matthew K. Lazar, and seven entities controlled by Laborio for their alleged roles in a boiler scheme that ran from December 2006 to August 2009. The seven entities include Envit Capital Group, Inc., Envit Capital, LLC, Envit Capital Holdings, Inc., Envit Capital Private Wealth Management, LLC, Envit Capital Multi Strategy Mixed...

SEC Litigation Releases: Week in Review - July 27th, 2012

(Jul 2012)

SEC Charges Aider and Abettor of Penny Stock Company's Disclosure of Fake Investment
July 25, 2012, (Litigation Release No. 22424)
The SEC lodged a complaint against Ronald Feldstein who allegedly filed a false press release announcing a "fictitious $6 million investment in a penny stock company, Interlink-US Network, Ltd." Feldstein was paid by Interlink's management to play the role of a prospective investor. Feldstein, posing as President of LED Capital Corp., entered into a phony...

SEC Litigation Releases: Week in Review - July 20th, 2012

(Jul 2012)

SEC Obtains Final Judgment in Case Involving Ponzi Scheme and Promotion of China Voice Holding Corp.
July 19, 2012, (Litigation Release No. 22418)
A final judgment was entered against Ilya Drapkin on July 6, 2012, which permanently enjoins him from violating various sections of the Securities Act and ordered Drapkin, along with his companies, MG TK Corp. and SMI Chips, to pay over $5.8 million in disgorgement and penalties. This amount represents "profits gained by Drapkin, MG TK, and SMI...

SEC Litigation Releases: Week in Review - June 29th, 2012

(Jun 2012)

SEC Shuts Down Mortgage Fund Ponzi-like Scheme
June 28, 2012, (Litigation Release No. 22406)
According to the complaint (opens to PDF), Small Business Capital Corp. ("SB Capital") and Mark Feathers ("Feathers"), its principal, are operating an "alleged Ponzi-like scheme." $42 million have been raised by SB Capital and Feathers through selling securities issued by their mortgage investment funds, Investors Prime Fund, LLC and SBC Portfolio Fund, LLC ("Funds"). The Funds attracted more than 400...

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