Culled–Proshare 18/8/2018/SEC Ed(as adpted) There are documented cases of potential scams in which fraudsters may pose as brokers pretending to sell pending IPO or pre-IPO shares of well-known companies. Fraudsters sometimes use official looking forms that seem to come from the regulators or approved CMO’s or another legitimate source to […]
Frauds & Scandals
SEC Obtains Final Judgment Ordering Pyramid Scheme Promoter to Pay Over $1 Million
August 14, 2018/US SEC A promoter of a pyramid scheme targeting Latino communities has agreed to transfer assets valued at over $1 million in a related bankruptcy proceeding and admit his role in the scheme to settle charges brought by the Securities and Exchange Commission against him and nine other […]
SEC Files Charges in Municipal Bond “Flipping” and Kickback Schemes
August 14, 2018/US SEC The Securities and Exchange Commission today charged two firms and 18 individuals in a scheme to improperly divert new issue municipal bonds to broker-dealers at the expense of retail investors. According to the SEC’s complaint, the defendants – known in the industry as “flippers” – purchased new issue […]
