May 28, 2019/US SEC The Securities and Exchange Commission today charged investment adviser Stephen Brandon Anderson with defrauding clients by overcharging advisory fees of at least $367,000. According to the SEC’s order, Anderson owned and operated River Source Wealth Management, LLC, a now-defunct registered investment adviser in North Carolina. River […]
Frauds & Scandals
SEC Charges Perpetrators of Fraudulent Prime Bank Scheme
May 24, 2019/US SEC The Securities and Exchange Commission announced fraud charges against recidivist David Sims, his partner, Mario Procopio, and three companies they controlled for defrauding investors in a “prime bank” scheme. The SEC also charged their lawyer, Ralph Craig Greaves, with aiding and abetting their scheme. According to […]
SEC Sues Alleged Perpetrator of Fraudulent Pyramid Scheme Promising Investors Cryptocurrency Riches
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 […]
