June 26, 2018/US SEC The Securities and Exchange Commission today announced that Wells Fargo Advisors LLC agreed to settle charges of misconduct in the sale of financial products known as market-linked investments, or MLIs, to retail investors. According to the order, the SEC found that Wells Fargo generated large fees […]
Frauds & Scandals
Court Enters Final Judgment Against Board Chairman Charged with Lying to Auditors
22/6/2018/US SEC On June 19, 2018, a federal court entered a final judgment against Stephen B. Pence, the former chairman and majority shareholder of General Employment Enterprises (GEE), in a case alleging that he misled the company’s auditors and investors by concealing his knowledge regarding $2.3 million in missing company […]
SEC Charges Operator of Ponzi Scheme Targeting Retail Investors
June 22, 2018/US SEC The Securities and Exchange Commission has charged a Bellefonte, Pennsylvania insurance agent with engaging in a Ponzi scheme that targeted retail investors who lacked significant investment experience. According to the SEC’s complaint, from at least 2010 through 2017, James E. Hocker began his relationship with a […]
