May 13, 2021/US SEC DaRayl D. Davis, charged by the SEC in December 2017 with raising millions of dollars from investors by selling them fictitious financial products, has been sentenced in a parallel criminal case to 160 months in prison and ordered to pay restitution of more than $7.1 million. […]
Frauds & Scandals
SEC Charges Texas Investment Adviser and Three Individuals with Defrauding Advisory Clients and Retail Investors
May 13, 2021/US SEC On May 13, 2021, the Securities and Exchange Commission charged Katy, Texas-based investment adviser Knight Nguyen Investments and three individuals with scheming to invest funds from advisory clients and retail investors in at least five fraudulent securities offerings. The SEC alleges that Knight Nguyen majority owner […]
SEC Charges Broker-Dealer for Failures Related to Filing Suspicious Activity Reports
May 12, 2021/US SEC The Securities and Exchange Commission today announced settled charges against GWFS Equities Inc. (GWFS), a Colorado-based registered broker-dealer and affiliate of Great-West Life & Annuity Insurance Company, for violating the federal securities laws governing the filing of Suspicious Activity Reports (SARs). GWFS provides services to employer-sponsored […]
