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. […]
Frauds & Scandals
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, […]
Court Orders Robert M. Morano to Pay Insider Trading Penalty
13/5/2019/US SEC On May 3, 2019, the U.S. District Court for the District of Oregon entered a final judgment against Robert M. Morano ordering him to pay a $75,000 insider trading penalty, which represents approximately two times the amount of Morano’s illegal trading profits. The SEC’s complaint charges Morano, a […]
