September 1, 2021/US SEC The Securities and Exchange Commission announced today that it has filed an action against BitConnect, an online crypto lending platform, its founder Satish Kumbhani, and its top U.S. promoter and his affiliated company, alleging that they defrauded retail investors out of $2 billion through a global […]
Frauds & Scandals
SEC Files Subpoena Enforcement Action Against Penny Stock Promoter
September 1, 2021/US SEC The Securities and Exchange Commission announced that it has filed an action against Alexander Kon, a penny stock promoter and resident of Overland Park, Kansas, seeking an order directing him to comply with investigative subpoenas for documents and testimony. According to the SEC’s filing in U.S. […]
SEC Obtains Final Judgment Against Investment Adviser Charged with Defrauding Advisory Clients
September 1, 2021/US SEC On August 31, 2021, the Securities and Exchange Commission obtained a final judgment against investment adviser Douglas E. Elstun of Lenexa, Kansas, who was charged with repeatedly defrauding and breaching his fiduciary duty to advisory clients of his investment advisory firm Crossroads Financial Management, Inc. The […]
