SEC Warns Investors About False Broker Claims
The SEC’s Office of Investor Education and Advocacy cautions investors to research the credentials of financial professionals before trusting that person with investment money. This precautionary investigation will serve as a safeguard against people who may lie about their backgrounds in an effort to gain more professional trust from investors with their finances. This public […]
Canadian Trader Charged for Short Selling U.S. Stocks
The SEC filed a complaint in the U.S. District Court in San Francisco alleging that Andrew Evans, a Canadian trader at his firm, Maritime Asset Management, illegally shorted U.S. stocks from December 2010 until May 2012. Evans will pay more than $1 million in settlement charges. Evans allegedly sold a U.S. company’s stocks at a […]
SEC Charges Oil Company, CEO, and Promotor with Fraudulent Penny Stock Sales
On June 18, 2015, the SEC charged an oil company and its CEO for lying to investors about oil reserve estimates and future drilling plans. Glen Landry, the CEO of Norstra Energy, published to Norstra’s website, in press releases, and in SEC filings many false and misleading statements about the projected profits and start date […]
Gold Mining Ponzi Scheme Targets Latinos in Florida
On July 2, 2015, the SEC froze a fraudulent venture headed by DFRF Enterprises, its leader, and six promoters. The SEC alleges that DFRF Enterprises operated a Ponzi scheme by promoting and selling membership interests in over 50 Brazilian and African gold mines. The company recruited investors by promising large profits on fully insured funds used […]