On October 18, 2023, the Honorable Charles R. Breyer, presiding over the United States District Court for the Northern District of California, issued a default judgment against Thor Technologies, Inc. and its CEO and co-founder, David Chin. This judgment was related to their involvement in an unregistered offering of crypto asset securities totaling $2.6 million. [...]

The Securities and Exchange Commission (SEC) has announced the filing of charges and a mutually agreed-upon asset freeze against an investment adviser based in Santa Maria, California. This adviser, identified as Julie Anne Darrah, is alleged to have defrauded her clients of more than $2 million. According to the SEC's complaint, Darrah and her firm, [...]

The Securities and Exchange Commission (SEC) has made an important announcement today regarding the intervention in an ongoing fraud scheme targeting the Indian American community, which has amassed nearly $130 million in funds since April 2021. The alleged perpetrators of this fraudulent activity are Nanban Ventures LLC and its three founders: Gopala Krishnan (known as [...]

The Securities and Exchange Commission (SEC) has made an important announcement today regarding the intervention in an ongoing fraud scheme targeting the Indian American community, which has amassed nearly $130 million in funds since April 2021. The alleged perpetrators of this fraudulent activity are Nanban Ventures LLC and its three founders: Gopala Krishnan (known as [...]

The Securities and Exchange Commission (SEC) has officially announced its pursuit of an order compelling Elon Musk to adhere to an investigative subpoena, which he failed to honor. When an individual or entity declines to cooperate with an SEC enforcement subpoena issued under a formal investigation order, the Commission has the authority to initiate a [...]

Last week, the Securities and Exchange Commission (SEC) took legal action against Pisces Income Fund, LLC, Pisces Income Fund Parallel, LLC, along with their principals Shannon Westhead and Alec Vagnozzi; Capricorn Income Fund I, LLC, Capricorn Income Fund I Parallel, LLC, and their principal Albert Vagnozzi; Merchant Services Income Fund, LLC, Merchant Services Income Fund [...]

The Securities and Exchange Commission (SEC) has taken legal action against Bin Hao, a resident of Virginia, and his company, Qidian LLC, alleging their involvement in fraudulent activities that raised approximately $10.3 million from over 60 investors across at least 17 states. The SEC's complaint revolves around the unregistered securities offering, primarily targeting members of [...]

The Securities and Exchange Commission (SEC) has taken action against Michael E. Lewitt, a resident of Boca Raton, Florida, along with his investment advisory firm, Third Friday Management, LLC (Third Friday). The charges relate to alleged misrepresentations and omissions concerning a significant change in the investment strategy of the Third Friday Total Return Fund, L.P. [...]

The Securities and Exchange Commission (SEC) has announced the resolution of charges against Luther Speight & Company, LLC (LSC), an audit firm based in New Orleans, and its principal, Luther C. Speight, III. The SEC's complaint, which was filed in the U.S. District Court for the Northern District of Georgia, revolves around LSC's engagement by [...]