The US Commodity Futures Trading Commission has filed a civil complaint in the federal district court in Boston, Massachusetts, against Boston-based John B Wilson and his company, JBW Capital. The complaint charges that from July 2007 through at least May
Oscar Hernandez of Miami, Florida and his companies, Midway Trading Company and Conquest Investment Group, are to pay a USD1.4m civil monetary penalty to settle CFTC charges that they operated a multi-million dollar commodity pool Ponzi scheme and misappropriated customer
The Securities and Exchange Commission has separately charged a pair of hedge fund managers and their firms with lying to investors about how they were handling the money invested in their respective hedge funds. The charges are the latest in
The Commodity Futures Trading Commission’s division of swap dealer and intermediary oversight has released a letter providing guidance to registered futures commission merchants (FCMs). The letter is intended to identify a situation whereby FCMs may be inappropriately using an omnibus
The hedge fund industry is an indirect beneficiary of the new JOBS Act in the USA as it will revolutionise how alternative investment funds are marketed to the public, according to Don Steinbrugge of Agecroft Partners… The new JOBS Act,
The Commodity Futures Trading Commission filed 102 enforcement cases in fiscal year 2012, the highest number of cases ever in a single year. During the past two fiscal years, the Commission filed a total of 201 enforcement actions, representing a
The Securities and Exchange Commission has charged twin brothers from the UK with defrauding approximately 75,000 investors through an Internet-based pump-and-dump scheme. According to the SEC allegations, the brothers touted a fake “stock picking robot” that purportedly identified penny stocks
The Securities and Exchange Commission has charged Chicago-based GEI Financial Services and its owners, Norman Goldstein and Laurie Gatherum, for defrauding their advisory clients — including the GEI Health Care Fund 2001 — by taking at least USD147,000 in excessive
On 8 June, 2011, The Honourable Jed S Rakoff of the United States District Court for the Southern District of New York entered a judgment against Gautham Shankar in SEC v Galleon Management, LP, et al, 09-CV-8811, an insider trading
JP Morgan Securities LLC is to pay USD153.6 million to settle SEC charges that it misled investors in a complex mortgage securities transaction just as the housing market was starting to plummet. Under the settlement, harmed investors will receive all
