January 7, 2020/US SEC On December 19, 2019, the Securities and Exchange Commission charged Edward Espinal and his company, Cash Flow Partners, LLC, in connection with an alleged $5 million Ponzi scheme that defrauded at least 90 investors, many of whom were members of the Hispanic community. The SEC’s complaint […]
Frauds & Scandals
Longfin CEO Settles Fraud Action
January 3, 2020/US SEC The Securities and Exchange Commission today announced that Longfin Corp. CEO Venkata S. Meenavalli has agreed to pay $400,000 in disgorgement and penalties to resolve the SEC’s fraud action against him. The settlement, which remains subject to court approval, concludes the SEC’s actions against Longfin, its […]
SEC Charges Individuals for Assisting Broker-Dealer’s Net-Capital Violations
January 2, 2020/US SEC The Securities and Exchange Commission charged Alan D. Seidel, the former CEO of a now defunct broker-dealer, and Benjamin Mekawy, a former employee, for engaging in deceptive conduct that enabled the broker-dealer to report inaccurate net-capital amounts. As alleged in the SEC’s complaint, broker-dealers are required […]
