Frauds & Scandals

SEC Announces Suspension of Corix Bioscience

April 13, 2018/US SEC The Securities and Exchange Commission (“Commission”) announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities of Corix Bioscience, Inc. (“CXBS “), of Surprise, Arizona, at 9:30 a.m. EDT on April 13, 2018, […]

SEC Charges CEO in Penny Stock Fraud Scheme

April 13, 2018/US SEC The Securities and Exchange Commission charged the CEO of a Chicago-area penny stock company with making false and misleading statements in the company’s SEC filings and press releases and with manipulating the company’s stock. The SEC’s complaint against Andrew J. Kandalepas, the CEO of Wellness Center […]

Victims of Bernard Madoff’s Ponzi Scheme to Receive Millions More

12/4/2018/The New York Times By KATIE BENNER Victims of Bernard L. Madoff, the architect of one of Wall Street’s largest frauds, will receive another $504 million, proceeds from assets that the government seized after Mr. Madoff’s financial firm collapsed a decade ago. With this distribution, the second in a series […]