March 8, 2022/US SEC The Securities and Exchange Commission today charged siblings John and JonAtina (Tina) Barksdale with defrauding thousands of retail investors out of more than $124 million through two unregistered fraudulent offerings of securities involving a digital token called “Ormeus Coin.” According to the SEC’s complaint, from June […]
Frauds & Scandals
SEC Charges Previously-Barred Investment Adviser with Fraud
March 7, 2022/US SEC The Securities and Exchange Commission today charged a previously-barred North Carolina-based investment adviser with lying to retail investors about the use and value of their investments. The SEC’s complaint alleges that, starting in approximately February 2019, David W. Schamens solicited investments in a purported pooled investment […]
City National Rochdale to Pay More Than $30 Million for Undisclosed Conflicts of Interest
March 3, 2022/US SEC The Securities and Exchange Commission today announced that registered investment adviser City National Rochdale, LLC (CNR) has agreed to pay more than $30 million to settle charges that its undisclosed conflicts of interest defrauded current and prospective clients. The money CNR pays will be placed into […]
