Disgorgement is such an ugly word. But it could happen to Jason J. Koiner, a New York-based ‘fund manager’ and his two firms Absolute Fund Management and Absolute Fund Advisors. The SEC alleges that since November 2011 Koiner raised $11 million selling investors limited partnership interests. He promised investors that he would allocate capital of […]
A U.S. District Court in New Hampshire entered final judgments last week against New Futures Trading International Corporation, a New Hampshire business, and Henry Roche for running a Ponzi scheme.
We’re committed to keeping you and your clients up-to-date with global industry news. Every morning, we offer articles from around the web. Here are some selections: – First the Facebookalypse, now Taxmaggeddon! The Congressional Budget Office issued a report saying proposed tax hikes to close revenue gaps could push the U.S. back into recession if […]
Mark Spangler, former national chairman of the National Association of Personal Financial Advisors (NAPFA), once pushed financial professionals to act in the best interests of their clients. Now, however, he’s accused of securities fraud; he allegedly diverted $47 million of his clients’ funds into private ventures, and an FBI agent claims he made false statements […]
The Securities and Exchange Commission today charged a former executive at Morgan Stanley, Garth R. Peterson, for secretly acquiring millions of dollars in real estate investments for himself and a Chinese official who steered business to Morgan Stanley’s funds. Peterson violated the Foreign Corrupt Practices Act, as well as the securities laws for investment advisers. […]
The owners of a dot-com firm are headed to prison for fraud and conspiracy. With the help of two stock promoters, father-daughter duo Nasser and Sholeh Hamedani tricked investors into purchasing 2.7 million shares of their company, The Children’s Internet, at a cost of about $5.5 million. The pair defrauded investors by stating the company’s […]
U.S. regulators filed civil charges against two managers of tech-focused private equity funds, for misleading investors.
The jig is up for yet another hedge fund advisory firm in the U.S. engaged in insider trading. This case involves closely associated members of a network of hedge fund traders who illegally obtained material not-for-public information concerning tech firms Dell, Inc. and Nvidia Corporation. It started back in 2008 where the traders allegedly exchanged […]
Former SEC general counsel David Becker has denied any wrongdoing related to his efforts to help direct policies related to the cleanup of the Madoff fraud.
The Securities and Exchange Commission is said to be close to a settlement with mortgage insurers Fannie Mae and Freddie Mac over allegations the two failed to properly disclose their exposure to low quality loans.