August 20, 2020/US SEC On August 17, 2020, Judge Marcia G. Cooke of the United States District Court for the Southern District of Florida granted the SEC’s motion for summary judgment against Ibrahim Almagarby and his company, Microcap Equity Group, LLC (MEG). The SEC’s complaint alleged that Almagarby and MEG […]
Frauds & Scandals
SEC Charges Promoters of Multi-Level Digital Asset Marketing Scheme
August 18, 2020/US SEC The Securities and Exchange Commission charged two high-level promoters for acting as unregistered brokers when selling the securities of AirBit Club, an investment scheme that targeted LatinX and Spanish-speaking communities and promised returns through a purported digital asset trading program and from the recruitment of others. […]
SEC Obtains Final Judgment Against Former Investment Banker in $1.1 Million Insider Trading Scheme
August 13, 2020/US SEC On August 12, 2020, the U.S. District Court for the Southern District of New York entered a final consent judgment against a New York investment banker charged with conducting a serial insider trading scheme. The SEC alleged that Sean R. Stewart illegally tipped his father about […]
