21/6/2019/US SEC On June 11, 2019, Andrew J. Kandalepas, the former CEO, President and Chairman of the Board for Wellness Center USA, Inc. pleaded guilty to one count of securities fraud for engaging in a market manipulation scheme to artificially inflate the company’s stock price. Kandalepas had previously consented to […]
Frauds & Scandals
SEC Wins Jury Trial Against Broker Charged With Defrauding Customers
June 21, 2019/US SEC Jurors in Manhattan federal court today returned a verdict in the Securities and Exchange Commission’s favor against a broker who was charged in January 2017 with fraud for excessively trading customer accounts using a trading scheme that generated hefty commissions for the broker but significant losses for his […]
SEC Charges Intelligence Communications Company and Top Executives With Defrauding Merger Investors
June 21, 2019/US SEC The SEC has charged Ability Inc., an Israel-based intelligence communications company, its wholly-owned subsidiary, and two of its top executives with defrauding shareholders of a Florida-based special purpose acquisition company (SPAC), a company formed to raise capital for a merger or acquisition within a set timeframe. […]
