July 16, 2018/US SEC The Securities and Exchange Commission has charged a stock promoter and four others involved in an alleged series of microcap fraud schemes that were foiled by FBI undercover work and an SEC trading suspension. According to the SEC’s complaint filed in federal court in southern California […]
Frauds & Scandals
SEC Halts Fraudulent Hi-Tech Scam
July 16, 2018/US SEC The Securities and Exchange Commission obtained an emergency asset freeze and a temporary restraining order to halt an ongoing offering fraud carried out by Marianne Veronika Sandor, her husband Edward Michael Porrazzo and their company, Moddha Interactive, Inc. The SEC’s complaint, which was unsealed on July […]
Former State Street Corp. Executive Convicted of Defrauding Customers
July 16, 2018/US SEC On June 26, 2018, a jury in federal court in Boston, Massachusetts, convicted Ross McLellan, a former State Street Corp. executive, of engaging in a scheme to defraud customers of State Street’s Transition Management line of business. McLellan was found guilty of applying secret commissions to […]