The Securities and Exchange Commission brought charges against Xue Samuel Lee, the co-founder of HyperFund, and Brenda Indah Chunga, also known as “Bitcoin Beautee,” the fund’s top promoter, for securities violations. ...more
Recently, the Securities and Exchange Commission brought fraud charges against Jonathan Larmore for allegedly looting $35 million from real estate funds he advised. Larmore is a real estate investor, an investment adviser,...more
Recent Enforcement Action -
The requirement that financial firms preserve books and records is nothing new. But how do such firms keep track of employees’ communications on applications like Signal or WhatsApp? Those...more
The United States Securities and Exchange Commission recently charged two individuals— Florida residents, Suyun Gu, and his friend, Yong Lee—for their involvement in allegedly fraudulent wash sales involving out-of-the-money...more
10/7/2021
/ Broker-Dealer ,
Civil Monetary Penalty ,
Disgorgement ,
Fraud ,
New Jersey ,
Permanent Injunctions ,
Securities Act ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Traders ,
Wash Sale Rules
“Naked short selling” is often claimed by struggling public companies to be the source of their woes. But there have been relatively few cases addressing naked short selling. Recently, however, on May 19, 2021, the SEC...more
5/27/2021
/ Broker-Dealer ,
Disgorgement ,
Injunctions ,
Investment Adviser ,
Penalties ,
Publicly-Traded Companies ,
Regulation SHO ,
Section 203 ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Short Selling
Hollywood martial arts sensei Steven Seagal was recently karate-chopped by the SEC for his alleged undisclosed payments for Twitter-touting a security that was being offered and sold in an initial coin offering. In a settled...more
2/28/2020
/ Bitcoin ,
Broker-Dealer ,
Cease and Desist Orders ,
Cryptocurrency ,
Digital Currency ,
Disclosure Requirements ,
Enforcement Actions ,
Ethereum ,
Failure To Disclose ,
Financial Promotions ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Investors ,
Popular ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Token Sales