September 17, 2020/US SEC The Securities and Exchange Commission today announced an award of nearly $250,000 to joint whistleblowers whose tip caused the opening of an investigation that resulted in a successful enforcement action. The whistleblowers raised concerns internally before reporting the concerns to the Commission. “The whistleblowers’ information alerted […]
Frauds & Scandals
SEC Charges Ohio Investment Adviser with Defrauding Retail Investors
September 17, 2020/US SEC The Securities and Exchange Commission today charged Scott Allen Fries, a former Ohio-based registered representative and investment adviser representative at an SEC-registered broker-dealer and investment adviser, with defrauding at least seven investors out of at least $178,000. According to the SEC’s complaint, Fries recommended that certain […]
SEC Obtains Judgments Against Two Individuals in Microcap Fraud Scheme
September 16, 2020/US SEC On September 14, 2020, the U.S. District Court in Boston entered a final judgment against New York residents Frederick Mintz and Alan Fraade, whom the SEC charged with involvement in a scheme that used nominee shareholders to fraudulently register microcap company securities for public sale. As […]
