Litigation Release No. 24540 / July 18, 2019 Securities and Exchange Commission v. Mark Loman, No. 2:19-CV-06187 (C.D.C.A. filed July 18, 2019) The Securities and Exchange Commission today filed insider trading charges against the former controller of OSI Systems, Inc., a California-based security, electronics, and healthcare manufacturing company, who secretly used confidential information he obtained […]
Monthly Archives: July 2019
Paul Alar and West Mountain, LLC
The Securities and Exchange Commission today charged Paul Alar of Atlanta, Georgia, and his investment adviser firm, West Mountain, LLC, for fraudulently over valuing assets in two funds they managed, allowing them to collect significantly inflated fees. The SEC’s complaint alleges that, beginning in late 2016, West Mountain and Alar directed two funds that they […]
William J. Milles, Jr. and Donald J. Lutzko
Litigation Release No. 24538 / July 18, 2019 Securities and Exchange Commission v. William J. Milles, Jr. and Donald J. Lutzko, No. 1:19-cv-00714 (W.D. Tex., filed July 17, 2019) On July 17, 2019, the Securities and Exchange Commission charged Pennsylvania resident William Milles and Canadian resident Donald Lutzko with running an oil and gas offering […]
Saving and Investing for Military Personnel
The SEC’s Office of Investor Education and Advocacy is issuing this updated Investor Bulletin to help military personnel make informed savings and investing decisions and avoid common scams. Here are ten suggestions that can help you understand the basics and protect your hard-earned money. For more, check out Investor.gov/military. 1. Pay Off High-Interest Debt. Few […]
FTC Returns More than $708,000 to Consumers and Businesses Tricked Into Paying for Unordered Light Bulbs and Cleaning Supplies
The Federal Trade Commission is mailing 3,615 checks totaling $708,586 to small businesses, nonprofit organizations, and other consumers who were tricked into paying for overpriced office supplies—including light bulbs and cleaning supplies—that they did not order. The average refund amount is $196. The refunds are the result of a court order obtained against Lighting X-Change […]
FTC Chairman Supports Common Understanding of G7 Competition Authorities on Competition and the Digital Economy
Federal Trade Commission Chairman Joseph J. Simons has issued the following statement about the Common Understanding of G7 Competition Authorities on Competition and the Digital Economy, which France’s competition authority, the Autorité de la Concurrence, released today following the G7 Finance Ministers and Central Bank Governors meeting in Chantilly, France. The FTC worked with its […]
AR Capital, LLC, et al.
On July 16, 2019, the Securities and Exchange Commission charged AR Capital LLC, its founder Nicholas S. Schorsch of Jenkintown, Pennsylvania, and its former CFO Brian Block of Hatfield, Pennsylvania, with wrongfully obtaining millions of dollars in connection with two separate mergers between real estate investment trusts (REITs) that were sponsored and externally managed by AR […]
William C. Skelley and Sohin S. Shah
Litigation Release No. 24536 / July 17, 2019 United States Securities and Exchange Commission v. William C. Skelley and Sohin S. Shah, Defendants, Civil Action No. 18-CV-8803 (LGS) (S.D.N.Y., filed September 26, 2018) The Securities and Exchange Commission obtained final judgments on July 8, 2019 and July 16, 2019, respectively, against William C. Skelley and […]
Emmanuel Kouyoumdjian (a/k/a “Manny K”)
Litigation Release No. 24535 /July 17, 2019 Securities and Exchange Commission v. Emmanuel Kouyoumdjian (a/k/a “Manny K”), No. 19-cv-61773 (S.D. Fla. filed July 16, 2019) The Securities and Exchange Commission yesterday announced charges against Emmanuel “Manny K” Kouyoumdjian of Coral Springs, Florida, for unlawfully offering and selling the securities of ForceField Energy, Inc. (“ForceField”). The […]
Zev Saltsman, et al.
Litigation Release No. 24534 / July 17, 2019 SEC v. Zev Saltsman, et al., Civil Action No. 07-CV- 4370 (NGG) (E.D.N.Y.) On June 5, 2019, the Securities and Exchange Commission obtained final judgments against Israeli residents Menachem Eitan and Zev Saltsman. The SEC’s complaint, filed on October 19, 2007 and amended on March 23, 2015, […]