Category: Charges

sec charges
January 03, 2020 BY Valentina Kirilova

Six companies charged with international microcap fraud schemes

The Securities and Exchange Commission (SEC) has announced yesterday that it has charged six individuals and their companies with participating in international microcap fraud schemes. The above-mentioned schemes generated more than $35 million of illegal sales of stock in at least 45 microcap companies. According to the regulator, Steve M. Bajic and Rajesh Taneja helped shareholders…

Read more
asic ban
September 27, 2019 BY Valentina Kirilova

ASIC bans the Managing Director of Gold Coast financial group for 3 years

Australian watchdog ASIC announced earlier today on its official website that it has banned Kyle Marshall from providing financial services for 3 years. According to the regulator, Marshall had not complied with financial services laws and lacked fundamental knowledge and competency relevant to providing financial services. Marshall was an authorised representative of Sentinel Private Wealth…

Read more
asic afs license
September 04, 2019 BY Valentina Kirilova

ASIC cancels Platinum Perpetual Global Private Wealth's AFS licence

Australian regulator ASIC announced earlier today that it has cancelled the Australian financial services (AFS) licence of the company Platinum Perpetual Global Private Wealth Pty Ltd, based in Perth (AFSL 508415). The AFS licence was cancelled at the request of the company, following a separate action brought by Western Australian Police Force (WAPF), which has…

Read more
UN report says North Korea laundered $2 billion theft via Hong Kong firm
August 30, 2019 BY Valentina Kirilova

ANI Development LLC charged with defrauding approximately 50 retail investors

The Securities and Exchange Commission today announced that it has shut down $300 million fraud perpetrated by San Diego company ANI Development LLC and Its Principal, Gina Champion-Cain. According to the regulator, the company has defrauded approximately 50 retail investors. Back in 2012, ANI Development LLC fraudulently raised hundreds of millions of dollars from investors…

Read more
asic bans
August 15, 2019 BY Valentina Kirilova

ASIC bans NSW financial adviser for three years

ASIC announced that it has banned a Sydney-based financial adviser, Tarandeep Aujla, because he failed to act in his clients’ best interests. Aujla was an authorised representative of Australian financial services (AFS) licensees Infocus Securities Australia and Chaucer Group. ASIC has found that Aujla did not obtain adequate information from clients about their personal circumstances…

Read more
insider trading
August 13, 2019 BY Valentina Kirilova

Investment banking analyst charged with insider trading

The Securities and Exchange Commission (SEC) has yesterday charged an analyst at an international investment bank with insider trading. According to the SEC, Bill Tsai, a junior investment broker, had a confidential information about Siris Capital Group's plans to acquire Electronics for Imaging, Inc. (EFII). Tsai was working from the bank's New York office. Knowing…

Read more
Facebook pays $100m for misleading investors
July 24, 2019 BY Valentina Kirilova

Facebook charged with misleading investors, pays $100 million

The Securities and Exchange Commission (SEC) has announced that it has charged social media giant Facebook Inc. (NASDAQ:FB) for making misleading disclosures regarding the risk of misuse of Facebook user data. According to the Commission report, in 2014 and 2015, the now-defunct advertising and data analytics company, Cambridge Analytica, paid an academic researcher, through a…

Read more