January 21, 2021/US SEC On January 15, 2021, the Securities and Exchange Commission charged the CEO of a Texas-based microcap issuer with fraud for making material misstatements in numerous press releases and for misappropriating investor funds raised in an unlawful securities offering. According to the SEC’s complaint, during the relevant […]
Frauds & Scandals
SEC Updates List of Firms Using Inaccurate Information to Solicit Investors
January 21, 2021/US SEC The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 28 soliciting entities, three impersonators of genuine firms, and six bogus regulators. The SEC’s list of soliciting entities that have been […]
SEC Charges California Resident with Fraudulent Free Riding Scheme
January 19, 2021/US SEC The SEC announced fraud charges against California resident Abhi Batra for allegedly conducting a free-riding scheme in which he fraudulently reversed more than $1 million in Automated Clearing House (ACH) transfers. The SEC’s complaint alleges that Batra transferred money from bank accounts to brokerage accounts via […]
