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. […]
Frauds & Scandals
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 […]
SEC Obtains Final Judgment Against Broker Charged with Cherry-Picking Scheme
August 30, 2021/US SEC On August 26, 2021, the U.S. District Court for the District of Massachusetts entered a final consent judgment against a New Jersey-based former broker who was previously charged by the SEC with defrauding retail customers in a cherry-picking scheme. According to the SEC’s complaint, Michael A. […]
