Category Archives: SEC

Litigation Release No. 24382 / January 25, 2019 U.S. Securities and Exchange Commission v. American Growth Funding II, LLC, et al.,, Civil Action No. 16-cv-00828 (KMW) (S.D.N.Y.) On January 24, 2019, the Honorable Kimba M. Wood of the United States District Court for the Southern District of New York entered judgments against a Manhattan-based lending […]

The Securities and Exchange Commission announced on January 15, 2019 charges against nine defendants for participating in a previously disclosed scheme to hack into the SEC’s EDGAR system and extract nonpublic information to use for illegal trading. The SEC charged a Ukrainian hacker, six individual traders in California, Ukraine, and Russia, and two entities. The […]

Litigation Release No. 24380 / December 26, 2018 Securities and Exchange Commission v. Cherubim Interests, Inc., PDX Partners, Inc., Victura Construction Group, Inc., and Patrick Jevon Johnson, No. 2:18-mc-00175 (C.D. Cal. filed December 21, 2018) The Securities and Exchange Commission filed a subpoena enforcement action against three penny-stock companies and their CEO – Cherubim Interests, […]

Litigation Release No. 24378 / December 21, 2018 Securities and Exchange Commission v. China United Insurance Service, Inc., et al., No. 18:CV:12055 (S.D.N.Y. filed Dec. 20, 2018) A Taiwan-based insurance company and one of its former managers have agreed to settle fraud charges brought by the Securities and Exchange Commission relating to a scheme to […]

Litigation Release No. 24377/ December 20, 2018 Securities and Exchange Commission v. Grenda Group, LLC, et al., No. 18-cv-00954 (CCR) (W.D.N.Y.) (filed August 30, 2018) The Securities and Exchange Commission today announced that it has agreed to resolve its claims against Walter F. Grenda, Jr., who was charged with violating a July 2015 Commission order […]

The Securities and Exchange Commission today announced charges against an additional 13 individuals and 10 companies for unlawfully selling securities of Woodbridge Group of Companies LLC to retail investors. Woodbridge collapsed into bankruptcy in December 2017 and the SEC previously charged the company, its owner and others with operating a $1.2 billion Ponzi scheme and […]

Litigation Release No. 24375 / December 17, 2018 Securities and Exchange Commission v. Peter Cho, Case No. 1:18-cv-11811 (S.D.N.Y.) The Securities and Exchange Commission today charged a New York-based banking consultant with insider trading in advance of an airline merger based on confidential information he learned by eavesdropping on the phone conversations of his then-fiancé, […]

Litigation Release No. 24374 / December 14, 2018 Securities and Exchange Commission v. Craig Arsenault, Atlas Capital Management, Inc., and ACT Global Investments, No. 8:18-cv-002220 (C. D. Ca. filed Dec. 13, 2018) The Securities and Exchange Commission has charged a Laguna Niguel, California investment adviser with misappropriating client funds and misleading his clients about how […]

The Securities and Exchange Commission today announced charges against Thomas H. Laws, the former CEO of Santa Fe Gold Corporation, for the misappropriation of investor funds. The SEC also obtained an asset freeze against Laws. The SEC’s complaint, unsealed on December 6, 2018, alleges that, from at least August 2016 through February 2018, Santa Fe Gold, […]

Washington D.C. Dec. 11, 2018 Before the U.S. Senate Committee on Banking, Housing, and Urban Affairs Chairman Crapo, Ranking Member Brown and Senators of the Committee, thank you for the opportunity to testify before you today about the work of the U.S. Securities and Exchange Commission (SEC or Commission or Agency).[1]  Chairing the Commission is a […]