May 17, 2019/US SEC The U.S. Securities and Exchange Commission filed settled charges against five individuals for orchestrating a fraudulent pump-and-dump scheme involving multiple penny stocks. The SEC alleges that between May 2011 and May 2017, Andrew I. Farmer of Katy, Texas, Scott R. Sieck of Winter Park, Florida, Eddie […]
Frauds & Scandals
Loom is a Ponzi Scheme, SEC Warns Nigerians
May 16, 2019/SEC The Securities and Exchange Commission, SEC, has raised the alarm over the activities of some online fraudsters, who are currently running an online investment scheme tagged ‘Loom Money Nigeria’. Loom Money Nigeria, is taking over social media by targeting young people to participate in a pyramid scheme. […]
Jury Rules in SEC’s Favor, Finds Brokerage Firm and Two of Its Executives Liable for Fraud
May 15, 2019/US SEC Jurors in Manhattan federal court today returned a verdict in the Securities and Exchange Commission’s favor against a brokerage firm and two of its executives. The SEC charged the brokerage firm, Portfolio Advisors Alliance Inc. (PAA), Howard J. Allen, the indirect owner of PAA, and Kerri L. Wasserman, […]
