Omega Knight and Aviv and Erez Hen charged in $5.5 million precious metals fraud LeapRate

June 14, 2018 BY LeapRate Staff

Omega Knight and Aviv and Erez Hen charged in $5.5 million precious metals fraud

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action in the U.S. District Court for the Southern District of Florida against defendants Omega Knight 2, LLC, its owner and president, Aviv Michael Hen of Great Neck, New York, and Erez Hen of Florida. The CFTC’s complaint charges the defendants with…

April 02, 2018 BY LeapRate Staff

Mozido founder Michael Liberty charged with $48 million fraud

The U.S. Securities and Exchange Commission (SEC) has announced that it has charged Michael Liberty, the founder of the fintech startup now known as Mozido Inc., with a scheme to trick hundreds of investors into investing in his shell companies instead of Mozido. According to the SEC, Michael Liberty and his accomplices allegedly stole most…

December 06, 2017 BY LeapRate Staff

Four Points Capital Partners brokers charged with fraud making unsuitable trades for customers

The U.S. Securities and Exchange Commission has continued its crackdown on brokers who defraud customers, charging two New York-based brokers with making unsuitable trades that were costly for customers and lucrative for the brokers. The SEC’s complaint, filed in federal court in Manhattan, alleges that brokers Zachary S. Berkey of Centerreach, New York, and Daniel T. Fischer of…

November 28, 2017 BY LeapRate Staff

SchoolofTrade.com owners to pay $4.9 million in trading system fraud

The U.S. Commodity Futures Trading Commission (CFTC) obtained a Consent Order against Defendants Joseph Dufresne (a/k/a/ Joseph James) and Megan Renkow (a/k/a Megan James), both of Palos Verdes Estates, California, and their companies, United Business Servicing, LLC and United Business Servicing, Inc., doing business as SchoolofTrade.com (SoT), who were charged with fraud and other violations in connection with the offer and sale…

September 06, 2017 BY LeapRate Staff

Monex Deposit Company charged with running multi-million dollar retail trader fraud scheme

The U.S. Commodity Futures Trading Commission (CFTC) has announced that on September 6, 2017, it filed a civil injunctive enforcement action in the U.S. District Court for the Northern District of Illinois against three affiliated companies located in Newport Beach, California: Monex Deposit Company, Monex Credit Company, and Newport Services Corporation (collectively, Monex), and Monex’s principals Louis Carabini and Michael Carabini.…

July 31, 2017 BY LeapRate Staff

SEC files fraud charges against four Atlanta area brokers targeting Federal retirees

The U.S. Securities and Exchange Commission today charged four former Atlanta-area brokers with fraudulently inducing federal employees to roll over holdings from their federal Thrift Savings Plan (TSP) retirement accounts into higher-fee, variable annuity products. The four former brokers charged are Christopher S. Laws, Jonathan D. Cooke, Danny S. Hood, and Brandon P. Long. The…

June 28, 2017 BY LeapRate Staff

Marbury Advisors Inc and Tracy Lee Thomas hit with $4.4 million fine for fraudulently soliciting customers

The U.S. Commodity Futures Trading Commission (CFTC) has announced that Judge Loretta C. Biggs of the U.S. District Court for the Middle District of North Carolina entered an Order of Final Judgment by Default against Defendants Tracy Lee Thomas (a/k/a Treyton L. Thomas, a/k/a Trayton L. Thomas, a/k/a Trey Thomas, a/k/a Tray Thomas, a/k/a T.L. Thomas), formerly…

March 31, 2017 BY LeapRate Staff

SEC freezes assets of Pastor Larry Holley charged with defrauding retirees

The U.S. Securities and Exchange Commission (SEC) today announced fraud charges and an emergency asset freeze obtained against a Michigan-based pastor accused of exploiting church members, retirees, and laid-off auto workers who were misled to believe they were investing in a successful real estate business. The SEC alleges that Larry Holley, the pastor of Abundant…

May 13, 2016 BY LeapRate Staff

What retail investors should know about crowdfunding

Starting next Monday, May 16, US investors will be able to buy securities in early-stage companies through crowdfunding. Under new rules effective May 16, 2016 as part of the JOBS Act, the general public can invest in capital raising by start-up companies through crowdfunding, which generally refers to the use of the Internet by small businesses…

May 04, 2016 BY LeapRate Staff

SEC goes after unregistered brokers who pocketed $6 million of investor funds

Investor funds were used to pay mortgage and credit card bills, a car lease, college tuition - and Vegas, where at least $250,000 were lost at Las Vegas casinos.

Tag: investor fraud