Category Archives: SEC

Litigation Release No. 24393 / February 8, 2019 Securities and Exchange Commission v. Spark Trading Group, LLC and Niket Shah, No. 18-cv-1498 (E.D.N.Y. filed Mar. 12, 2018) The Securities and Exchange Commission has obtained a final judgment against a New Jersey resident who was charged last year by the agency with stealing more than $250,000 […]

Litigation Release No. 24392 / February 7, 2019 Securities and Exchange Commission v. Robert Alexander and Kizzang LLC, No. 19-cv-01161 (S.D.N.Y. filed Feb. 7, 2019) The Securities and Exchange Commission today charged Robert Alexander with fraudulently raising approximately $9 million from more than 50 individuals by selling investments in Kizzang LLC, a purported online gaming […]

Litigation Release No. 24390 / February 4, 2019 Securities and Exchange Commission v. Thomas Conrad, Jr. et al., No. 1:16-cv-2572-LMM (N.D. Ga.) (filed July 15, 2016) On January 17, 2019, the United States District Court for the Northern District of Georgia granted in part and denied in part the SEC’s motion for partial summary judgment […]

Litigation Release No. 24389 / February 1, 2019 Securities and Exchange Commission v. Anthony J. Thompson, Jr., et al., No. 14-cv-09126 (ALC) (S.D.N.Y. filed Nov. 21, 2014) On November 28, 2018, the Securities and Exchange Commission obtained a judgment against a penny stock promoter in connection with multiple pump-and-dump schemes. On November 17, 2014, the […]

Litigation Release No. 24388 / February 1, 2019 Securities and Exchange Commission v. Alexander C. Burns, et al., No. 18-cv-09477 (LGS) (S.D.N.Y. filed Oct. 16, 2018) On January 11, 2019, the U.S. District Court for the Southern District of New York entered a judgment against Andrew B. Scherr, the co-owner of Southport Lane Management, LLC, […]

Litigation Release No. 24387 / January 31, 2019 Securities and Exchange Commission v. David Aubel and Robert Raffa, No. 16-CV-10670 (D. Mass. filed Apr. 7, 2016) United States v. David Aubel and Robert Raffa, No. 16-cr-10125 (D. Mass. filed Apr. 6, 2016) Two alleged market manipulators in an SEC enforcement action filed in 2016 have […]

The SEC’s Office of Investor Education and Advocacy is issuing this Investor Bulletin to educate individual investors about what it means to be an “accredited investor.”  What does it mean to be an accredited investor? Under the federal securities laws, only persons who are accredited investors may participate in certain securities offerings.  One reason these […]

The Securities and Exchange Commission announced that it filed charges against Texas resident and real estate developer Phillip Michael Carter, two other individuals, and several related entities for conducting a multi-million dollar offering fraud. The SEC’s complaint alleges that Carter, along with Bobby Eugene Guess and Richard Tilford, raised almost $45 million from over 270 […]

Litigation Release No. 24384 / January 28, 2019 Securities and Exchange Commission v. Howard B. Present, No. 18-cv-1477 (1st Cir. January 15, 2019) The Securities and Exchange Commission announced today that on January 15, 2019 the United States Court of Appeals for the First Circuit dismissed the appeal filed in May 2018 by Howard B. […]

Litigation Release No. 24383 / January 28, 2019 Securities and Exchange Commission v. Joseph A. Meyer, Jr. and Statim Holdings, Inc., No. 1:18-cv-5868-LMM (N.D. Ga. Filed December 26, 2018) The Securities and Exchange Commission has charged an Atlanta investment adviser and an entity he controls with defrauding a private fund they managed and its investors. […]