May 23, 2019/US SEC The Securities and Exchange Commission filed a civil injunctive action against Daniel Pacheco, a resident of San Clemente, California, and the alleged perpetrator of a multimillion-dollar pyramid scheme. The SEC’s complaint, filed Wednesday, alleges that from January 2017 through March 2018, Pacheco conducted a fraudulent, unregistered […]
Frauds & Scandals
SEC Seeks Emergency Relief to Halt Prominent New York Developer’s Ponzi-Like Real Estate Investment Scheme
May 23, 2019/US SEC The Securities and Exchange Commission filed an emergency action charging Robert C. Morgan, a New York residential and commercial real estate developer, and two of his entities, Morgan Mezzanine Fund Manager LLC and Morgan Acquisitions, LLC, with fraud for siphoning and misusing investor funds. In its action, […]
SEC Charges Unregistered Broker Who Sold Woodbridge Securities to Retail Investors
May 22, 2019/US SEC On May 22, 2019, the Securities and Exchange Commission charged Charles Nilosek, a Massachusetts-based external sales agent for Woodbridge Group of Companies LLC, with illegally selling Woodbridge securities to retail investors while acting as an unregistered broker. According to the complaint, Nilosek was among Woodbridge’s top […]
