February 1, 2019/US SEC On November 28, 2018, the Securities and Exchange Commission obtained a judgment against a penny stock promoter in connection with multiple pump-and-dump schemes. On November 17, 2014, the SEC charged Jay Fung and two others with orchestrating schemes to manipulate five penny stocks between November 2009 […]
Frauds & Scandals
SEC Obtains Fraud Judgment Against Co-Owner of Defunct New York-Based Investment Adviser
February 1, 2019/US SEC On January 11, 2019, the U.S. District Court for the Southern District of New York entered a judgment against Andrew B. Scherr, the co-owner of Southport Lane Management, LLC, a now defunct New York-based private equity firm. The SEC charged Scherr in October 2018 with aiding […]
Two Alleged Market Manipulators Sentenced in Parallel Criminal Case
January 31, 2019/US SEC Two alleged market manipulators in an SEC enforcement action filed in 2016 have now been sentenced in a parallel criminal case. The criminal charges against each stem from the same misconduct alleged in the SEC’s complaint filed on April 7, 2016, in the U.S. District Court […]
