January 29, 2019/US SEC The Securities and Exchange Commission today announced settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) for seven to 10 consecutive annual reporting periods. Two of the charged companies also failed to complete the required evaluation of the effectiveness of […]
Frauds & Scandals
SEC Emergency Action Charges Texas Real Estate Developer for Multi-Million Dollar Offering Fraud
January 29, 2019/US SEC The Securities and Exchange Commission announced that it filed charges against Texas resident and real estate developer Phillip Michael Carter, two other individuals, and several related entities for conducting a multi-million dollar offering fraud. The SEC’s complaint alleges that Carter, along with Bobby Eugene Guess and […]
Court Orders $1 Billion Judgment Against Operators of Woodbridge Ponzi Scheme Targeting Retail Investors
January 28, 2019/US SEC The Securities and Exchange Commission today announced that a federal court in Florida ordered Woodbridge Group of Companies LLC and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors. The Honorable Judge Marcia G. Cooke of the […]
