The Securities and Exchange Commission (SEC) has taken legal action against former executives of Pareteum Corp., a New York-based telecommunications company, over their involvement in fraudulent revenue recognition practices. The charges specifically target the former Chief Financial Officer, Edward O'Donnell, and the former Chief Commercial Officer, Victor Bozzo. Additionally, the SEC has announced settled charges [...]

The Securities and Exchange Commission (SEC) has taken legal action against Exelon Corporation, its subsidiary Commonwealth Edison Company (ComEd), and former ComEd CEO Anne Pramaggiore, unveiling charges related to a lengthy and corrupt scheme aimed at influencing and rewarding then-Speaker of the Illinois House of Representatives, Michael Madigan. While Exelon and ComEd have agreed to [...]

The Securities and Exchange Commission (SEC) has taken legal action against Tilila Walker Sumchai, a resident of Richmond, California, for her involvement in a fraudulent securities offering that raised approximately $11.8 million from over 1,000 investors, primarily targeting members of the Tongan American community across the United States. According to the SEC's complaint, spanning from [...]

The Securities and Exchange Commission (SEC) has officially filed charges against three siblings residing in Southern California – Marco A. Perez (known as Marc), Pedro Perez, Jr. (known as Peter), and Olivia P. Durbin – for insider trading activities that took place prior to the April 2021 announcement of a proposed acquisition by storage firm [...]

The Securities and Exchange Commission (SEC) has announced charges against six individuals who served as officers, directors, or major shareholders of publicly traded companies for their failure to promptly report information related to their ownership and transactions in company stock. Additionally, five publicly traded companies have been charged for either enabling the filing lapses of [...]

The Securities and Exchange Commission (SEC) has officially disclosed the resolution of fraud charges against Hyzon Motors Inc., a company based in upstate New York specializing in the production of hydrogen fuel cell electric vehicles (FCEVs). The charges pertain to Hyzon's misleading statements to investors regarding its business relationships and vehicle sales, both prior to [...]

The Securities and Exchange Commission (SEC) has made an official announcement regarding the settlement of charges against registered investment adviser AssetMark Inc., based in Concord, California. AssetMark has agreed to pay an amount exceeding $18 million to resolve allegations pertaining to undisclosed conflicts of interest related to a cash sweep program operated by its affiliated [...]

The Securities and Exchange Commission (SEC) has made an official announcement regarding the resolution of charges against New York-based Bruderman Asset Management LLC (BAM) and its principal, Matthew J. Bruderman. The charges stem from their failure to disclose the improper use of proceeds obtained from investment advisory clients and their failure to implement adequately designed [...]

The Securities and Exchange Commission (SEC) has taken legal action against Matthew Motil, the host of the podcast "The Cash Flow King," on charges of orchestrating a fraudulent Ponzi scheme that raked in approximately $11 million from over 50 investors. This scheme purportedly involved promissory notes supposedly backed by residential properties. According to the SEC's [...]