March 30, 2021/US SEC The Securities and Exchange Commission announced charges against Douglas E. Elstun of Lenexa, Kansas, an investment adviser, for repeatedly defrauding and breaching his fiduciary duty to advisory clients through his formerly registered investment adviser Crossroads Financial Management, Inc. (CFM). The SEC’s complaint alleges that from 2015 […]
Frauds & Scandals
SEC Awards Over $500,000 to Whistleblower Under “Safe Harbor” for Internal Reporting and Surpasses Record for Individual Awards
March 29, 2021/US SEC The Securities and Exchange Commission awarded more than $500,000 to a whistleblower who raised concerns internally before submitting a tip to the Commission. The whistleblower’s information and assistance allowed the Commission and another agency to quickly file actions, shutting down an ongoing fraudulent scheme. The whistleblower’s information […]
SEC Charges New Hampshire Issuer of Digital Asset Securities with Registration Violations
March 29, 2021/US SEC The Securities and Exchange Commission today charged LBRY, a blockchain company, with conducting an unregistered offering of digital asset securities. According to the SEC’s complaint, from at least July 2016 to February 2021, LBRY, which offers a video sharing application, sold digital asset securities called “LBRY […]
