Statement on the Passing of Chancellor William T. Allen

Oct. 15, 2019 This week brought the terribly sad news of the passing of renowned jurist, scholar, and counselor William T. Allen, who served for twelve years as Chancellor of Delaware’s Court of Chancery. Chancellor Allen will be forever remembered for his landmark contributions to the Nation’s business law. His wisdom will echo throughout our […]

Leaders of CFTC, FinCEN, and SEC Issue Joint Statement on Activities Involving Digital Assets

Oct. 11, 2019 The leaders of the U.S. Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the U.S. Securities and Exchange Commission (the “Agencies”) today issued the following joint statement to remind persons engaged in activities involving digital assets of their anti-money laundering and countering the financing of terrorism (AML/CFT)obligations under the Bank […]

Gino M. Pereira, Jeffrey Auerbach, Jared Mitchell, and Richard Brown

On Friday, October 4, 2019, the Securities and Exchange Commission filed fraud charges against three individuals who participated in a scheme to bribe a stockbroker to buy a company’s stock in his customers’ accounts without the customers’ knowledge. The defendants allegedly took several steps to avoid detection, including using encrypted, content-expiring text messages, and pawning […]

Christopher J. Spencer and John Busshaus

Litigation Release No. 24636 / October 4, 2019 Securities and Exchange Commission v. Christopher J. Spencer and John Busshaus, Civil Action No. 1:19-cv-9070 (S.D.N.Y.) (filed September 30, 2019) On September 30, 2019, the Securities and Exchange Commission charged Chief Executive Officer Christopher J. Spencer and Chief Financial Officer John Busshaus of Pittsburgh-based FAB Universal Corp. […]

Opening Remarks to the Roundtable on Combating Elder Investor Fraud

Oct. 3, 2019 Good morning. Thank you Charu. Thank you all for being here this morning for the Roundtable on Combatting Elder Investor Fraud. On behalf of the SEC, I want to say we are privileged to host such a dedicated group of experts and public servants.  Protecting older Americans from investor fraud is an […]

Remarks at the SEC Roundtable on Combating Elder Investor Fraud

Oct. 3, 2019 Good afternoon. I am very excited to join you today to discuss ways to combat elder investor financial exploitation and fraud. This is a topic that I know everyone in this room (and those watching via the web) care deeply about and so I am truly grateful that we are able to […]

PlexCorps, Dominic Lacroix, and Sabrina Paradis-Royer

The Securities and Exchange Commission announced that it has obtained a final judgment against the proprietors of the PlexCoin Initial Coin Offering (ICO), who consented to a judgment enjoining them from future violations of the antifraud provisions of the federal securities laws and ordering them to pay nearly $7 million. According to the SEC’s complaint, […]

SEC Orders Blockchain Company to Pay $24 Million Penalty for Unregistered ICO

Washington D.C., Sept. 30, 2019 — The Securities and Exchange Commission today announced settled charges against blockchain technology company Block.one for conducting an unregistered initial coin offering of digital tokens (ICO) that raised the equivalent of several billion dollars over approximately one year.  The company agreed to settle the charges by paying a $24 million […]

Bluepoint Investment Counsel, et al.

Litigation Release No. 24632 / September 30, 2019 Securities and Exchange Commission v. Bluepoint Investment Counsel, et al., Civil Action No. 19-cv-00809 (W.D. Wisc. filed September 30, 2019) On September 30, 2019, the Securities and Exchange Commission charged Bluepoint Investment Counsel, LLC, Michael Hull, Christopher Nohl, Greenpoint Asset Management II, LLC, and Chrysalis Financial LLC […]