Ramsey

The Securities and Exchange Commission today charged Mark “Christian” Ramsey for participating in an insider trading scheme perpetrated by a professional football player and former investment banker previously charged by the SEC for insider trading. In August 2018, the SEC charged Mychal Kendricks, the football player, and Damilare Sonoiki, the former investment banker, with insider […]

Natural Diamonds Investment Co., Eagle Financial Diamond Group Inc A/K/A Diamante Atelier, Argyle Coin, LLC, Jose Angel Aman, Harold Seigel, and Jonathan H. Seigel, et al.

The Securities and Exchange Commission announced it has obtained a court order halting an ongoing $30 million Ponzi scheme targeting more than 300 investors in the U.S. and Canada. The SEC complaint unsealed Monday charges South Florida-based Argyle Coin, LLC, a purported cryptocurrency business, and its principal Jose Angel Aman with using investor funds to […]

FTC Extends Comment Deadline on Proposed Changes to Safeguards Rule

The Federal Trade Commission has agreed to extend by 60 days the deadline for the public to submit comments on proposed changes to the Safeguards Rule, which requires financial institutions to develop, implement, and maintain a comprehensive information security program. The FTC announced in March that it was seeking comment on proposed changes to the […]

Operators of Payment Processing Firm Settle Charges for Assisting Fraudulent Schemes that Took More than $110 Million from Consumers

Payment processor Allied Wallet, its CEO and owner Ahmad (“Andy”) Khawaja, and two other officers, Mohammad (“Moe”) Diab and Amy Rountree, have agreed to settle Federal Trade Commission charges that they assisted numerous scams by knowingly processing fraudulent transactions to consumers’ accounts. According to the FTC’s complaint, the operators of Allied Wallet knowingly processed payments […]

David N. Osegueda, Ishmail Calvin Ross, aka Calvin Ross, Zachary R. Logan, and Jessica Snyder, fka Jessica Gutierrez

The Securities and Exchange Commission charged four individuals for their roles in a $1.9 million pump-and-dump scheme in the stock of a public Southern California beverage and cannabis company, Green Cures & Botanical Distribution, Inc. According to the SEC’s complaint, in 2015, Ishmail Calvin Ross of Canoga Park, California secured – but hid – his […]

Tracson McLeod

Litigation Release No. 24471 / May 20, 2019 Securities and Exchange Commission v. Tracson McLeod, No. 3:19-cv-00926 (S.D. Cal. filed May 16, 2019) The Securities and Exchange Commission filed a subpoena enforcement action against Tracson McLeod of San Diego, California, seeking an order directing him to comply with an investigative subpoena for documents and testimony. According […]

Financial Institution Diversity Video

FIL-26-2019 May 20, 2019 Financial Institution Diversity Video Printable Format: FIL-26-2019 – PDF (PDF Help) Summary: The FDIC’s Office of Minority and Women Inclusion (OMWI) prepared a video that is available on the FDIC YouTube Channel. In the “Financial Institution Diversity” video, OMWI Director Saul Schwartz describes the FDIC’s Financial Institution Diversity Program. Financial institutions […]

Banker Teleconference Series: Private Flood Insurance Rule

FIL-27-2019 May 20, 2019 Banker Teleconference Series: Private Flood Insurance Rule Timely and Comprehensive Information from the FDIC Printable Format: FIL-27-2019 – PDF (PDF Help) Summary: The FDIC’s Division of Depositor and Consumer Protection (DCP) will conduct an interagency webinar scheduled for Tuesday, June 18, 2019, that will focus on the recently issued interagency final […]

Andrew I. Farmer, Scott R. Sieck, Eddie D. Austin, Jr., Carolyn P. Austin, and John D. Brotherton

The U.S. Securities and Exchange Commission filed settled charges against five individuals for orchestrating a fraudulent pump-and-dump scheme involving multiple penny stocks. The SEC alleges that between May 2011 and May 2017, Andrew I. Farmer of Katy, Texas, Scott R. Sieck of Winter Park, Florida, Eddie D. Austin, Jr. of Houston, Texas, Carolyn P. Austin […]

FTC Approves Final Consent Order against UrthBox, Inc. and its Principal Related to Compensated Online Reviews and “Free” Trial Offer

Following a public comment period, the Federal Trade Commission has approved a final order settling charges that San Francisco-based UrthBox, Inc. and its principal misrepresented that customer reviews were independent when, in fact, the company provided those customers with free products and other incentives to post positive reviews online. According to the agency’s April 2019 […]