August 3, 2021/US SEC The Securities and Exchange Commission charged a publicly-traded Las Vegas-based holding company, its CEO, its CFO, an LLC controlled by the CEO, and another Nevada-based public company with multiple financial, disclosure, and reporting violations related to inflated income and earnings per share, stock promotion and secret […]
Frauds & Scandals
SEC Charges Las Vegas Real Estate CEO with Defrauding Investors
August 2, 2021/US SEC The Securities and Exchange Commission today announced securities fraud charges against recidivist Michael Shustek, the CEO of several Las Vegas real estate investment trusts (“REITs”), and his wholly owned investment advisory firm, Vestin Mortgage LLC. The complaint alleges that since at least 2012, Shustek fraudulently enriched […]
SEC Issues Whistleblower Awards Totaling More Than $4 Million
August 2, 2021/US SEC The Securities and Exchange Commission today announced awards of more than $4 million to four whistleblowers who provided information and assistance in two separate enforcement proceedings. In the first order, the SEC awarded more than $2 million to a whistleblower who provided valuable information that resulted […]
