June 20, 2018/US SEC On June 18, 2018, the Securities and Exchange Commission charged Joseph A. Fiore, a penny stock financier based in Bronxville, New York, and two companies that he controlled for their respective roles in a fraudulent market manipulation and scalping scheme that generated over $11 million from […]
Frauds & Scandals
SEC Shuts Down $102 Million Ponzi Scheme
19/6/2018/US SEC The Securities and Exchange Commission today filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S. According to the SEC’s complaint, the defendants defrauded more than 600 investors through sales of securities in issuers […]
Merrill Lynch Admits to Misleading Customers about Trading Venues
19/6/2018/US SEC The Securities and Exchange Commission today charged Merrill Lynch, Pierce, Fenner & Smith with misleading customers about how it handled their orders. Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million penalty. According to the SEC’s order, Merrill Lynch falsely informed customers that […]
