Defendant allegedly engaged in cherry-picking, allocating hundreds of millions of dollars in net first-day gains and losses to favored and disfavored portfolios, respectively November 25, 2024/US SEC The Securities and Exchange Commission today announced fraud charges against Stephen Kenneth (“Ken”) Leech, the former co-chief investment officer (CIO) of registered investment […]
Frauds & Scandals
Reps Panel Absolves Ecobank of Any Liability to 167 Sacked Workers
November 24, 2024/Ecobank Nigeria The House of Representatives Committee on Public Petitions has absolved Ecobank of any liability toward the 167 members of staff of the bank laid off in 2023. Chairman of the committee, Rep. Mike Etaba (APC-Cross River), who ruled on a petition by the claimants on Thursday […]
Portfolio Manager Ordered to Pay $11.2 Million and Prohibited From Managing Others’ Money
November 22, 2024/US SEC On November 19, 2024, the United States District Court for the Western District of Wisconsin entered a final judgment against Edward S. Walczak, a former mutual fund portfolio manager, for fraudulently misrepresenting to investors how he managed risk in the Catalyst Hedged Futures Strategy Fund. The […]