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 […]
Frauds & Scandals
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 […]
SEC Charges Ernst & Young, Three Audit Partners, and Former Public Company CAO with Audit Independence Misconduct
August 2, 2021/US SEC The Securities and Exchange Commission today charged accounting firm Ernst & Young LLP (EY), one of its partners, and two of its former partners with improper professional conduct for violating auditor independence rules in connection with EY’s pursuit to serve as the independent auditor for a […]
