US Legal & Regulation

The Securities and Exchange Commission (SEC) has charged two individuals who provided the biggest influx of investor funds into one of the largest-ever Ponzi schemes in South Florida. »

The US Commodity Futures Trading Commission (CFTC) has obtained a federal court consent order requiring defendants Victor Eugene Cilli and his company, Progressive Investment Funds LLC (Progressive), both formerly of Hackensack, NJ, to pay, jointly and severally, restitution of USD243,000 and a USD474,000 civil monetary penalty in connection with operating a commodity pool Ponzi scheme that defrauded investors of over USD500,000 and misappropriated investor funds. »

The Securities and Exchange Commission has charged Jorge Gomez, an investment adviser formerly located in Dallas, Texas and Mexico, with perpetrating a fraudulent scheme to misappropriate millions from an investment advisory client (“Client”). The SEC also has agreed to settle related charges against Roberto Aleph Espinosa, a former resident of Miami, Florida, who, in conjunction with Gomez, provided investment advisory and brokerage services to the Client. »

The Securities and Exchange Commission has announced charges against a New York-based fund manager and his two firms for luring investors into a trading program that would purportedly maximise their profits but instead spent their money in unauthorised ways. »

The Securities and Exchange Commission has charged two individuals who provided the biggest influx of investor funds into one of the largest-ever Ponzi schemes in South Florida. »

The US Commodity Futures Trading Commission (CFTC) has approved a final rule on swap data record-keeping and reporting requirements for counterparties to pre-enactment swaps, those swaps executed prior to passage of the Dodd-Frank Act, and transition swaps, those entered into between the law’s enactment date and the applicable compliance date for swap data record-keeping and reporting. »

The Securities and Exchange Commission has charged a Seattle-based financial adviser and his firm with defrauding clients by secretly investing their money in two risky start-up companies he co-founded. »

The US Commodity Futures Trading Commission (CFTC) has obtained two federal court consent orders of permanent injunction against Ronald E Satterfield and Nicholas and Patricia Bos. »

The US Commodity Futures Trading Commission (CFTC) has filed an enforcement action in the US District Court for the Central District of California, charging Michael J Leighton of Torrance, California, with solicitation fraud and issuing false statements in connection with the operation of a commodity trading pool.  »

The Securities and Exchange Commission has charged Scottish fund management group Martin Currie for fraudulently using one of its US fund clients to rescue another client, a China-focused hedge fund struggling in the midst of the global financial crisis. »