Texas Man Convicted Of Securities Fraud
A federal jury on Monday convicted a Rockwall, Texas man of securities fraud arising from an investment scheme he ran, according to U.S. Attorney John Parker of the Northern District of Texas. Mark Lee Cleaton was found guilty on four counts of wire fraud and is facing a maximum penalty of twenty years in prison […]
SEC Orders Atlanta Investment Firm To Pay $585,000
The SEC has ordered Atlanta, Georgia investment firm Timbervest to pay $585,000 in a long-running dispute regarding the sale of two tracts of timberland. The firm’s CEO, Joel Shapiro, stated that it will continue to fight the SEC in federal court. The SEC started investigating Timbervest in 2010, and in September 2013 the SEC initiated […]
FINRA August 2015 Disciplinary Actions: Part III
Edward D. Jones & Co., L.P. of St. Louis, Missouri submitted a letter of acceptance, waiver, and consent that censured the firm and fined it $10,000. FINRA found that it failed to report the right trade execution time for transactions in TRACE-eligible securitized products to TRACE and failed to show the right execution time on […]
New York Global Group CEO Charged With Securities Fraud
Benjamin Wey, a well-known Wall Street financier who assisted many Chinese companies in accessing U.S. markets through reverse mergers, was arrested this week and charged with altering the companies’ shares to allegedly earn himself tens of millions of dollars in illicit gains. Wey, the CEO of New York Global Group, now has criminal and civil cases against […]
Stock Promoter Indicted For Alleged Securities Fraud
Scott F. Gelbard, a former stock promoter, was charged in U.S. District Court in Boston with conspiring to commit securities fraud. Gelbard, who is originally from Colorado and now lives in Canada’s Pacific Northwest, was indicted on one count of securities fraud and one count of conspiracy to commit securities fraud, stated Amy Hosney, public […]
