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 [...]

In a recent development, the Securities and Exchange Commission (SEC) has initiated legal proceedings against Adam R. Long of Dorado, Puerto Rico, along with two companies under his ownership and control. The charges stem from their acquisition and sale of nearly 6 billion shares of microcap stock without registering as securities dealers with the SEC. [...]

In a recent development, the U.S. Securities and Exchange Commission (SEC) has taken legal action against convicted felon Stephone N. Patton and his associated companies, including Star Oil and Gas Company, Inc., North Gulf Energy Corporation, Inc., and Patton Farms, Inc. These entities, collectively referred to as "the Patton Entities," have been charged with a [...]

The Securities and Exchange Commission (SEC) has filed a complaint in the U.S. District Court for the Eastern District of Louisiana against Steven J. Jacobson, an investment adviser representative based in New Orleans. The complaint alleges that Jacobson engaged in fraudulent activities by orchestrating a cherry-picking scheme that harmed his advisory clients. Additionally, the complaint [...]