July 3, 2018/US SEC The Securities and Exchange Commission today announced charges against a Virginia investment adviser firm and its sole owner, for operating a nearly $5 million Ponzi scheme. The SEC also obtained an order freezing assets in more than 30 brokerage and bank accounts controlled by the defendants. […]
Frauds & Scandals
SEC Charges KBR for Inflating Key Performance Metric
July 2, 2018/US SEC The Securities and Exchange Commission today charged global engineering and construction company KBR Inc. for inflating a key performance metric known as work in backlog. KBR agreed to pay a $2.5 million penalty to settle the SEC’s charges. According to the Commission’s order, KBR’s public disclosures […]
SEC Obtains Judgments Against Municipal Adviser and Its Principal for Defrauding Mississippi City
July 2, 2018/US SEC A federal district court entered judgments on June 29, 2018 against Malachi Financial Products, Inc., a Georgia corporation, and its principal, Porter B. Bingham of Roswell, Georgia, for defrauding the City of Rolling Fork, Mississippi and failing to disclose certain related-party payments in connection with a […]
