On September 11, 2023, the Securities and Exchange Commission (SEC) filed a complaint in federal court in Minnesota, alleging fraudulent activities by Robyn A. Bowman and her company, Phoenix Asset Group, LLC, involving a deceptive offering. According to the SEC's complaint, Bowman and Phoenix raised a minimum of $2.7 million from approximately 20 investors. They [...]

James Anglim (CRD #: 3040791) was barred by the SEC, as reported in his most recent BrokerCheck disclosure accessed on September 5, 2023. Further details regarding the bar are provided below. SEC Bar: On August 15, 2023, the Securities and Exchange Commission (SEC) imposed a bar on James Anglim. The allegations leading to this bar [...]

The Securities and Exchange Commission (SEC) has announced that Fluor Corporation, based in Irving, Texas, will pay $14.5 million to settle charges related to improper accounting practices on two major fixed-price construction projects. Additionally, five former and current officers and employees of Fluor have agreed to settle related charges for their role in causing these [...]

The Securities and Exchange Commission (SEC) has announced that it has reached a settlement with Linus Financial, Inc. The settlement is related to charges of failure to register its retail crypto lending product, the Linus Interest Accounts, for offers and sales. Notably, the SEC decided not to impose civil penalties against Linus Financial due to [...]

The Securities and Exchange Commission (SEC) has announced that it has settled charges against Monolith Resources LLC, a privately held energy and technology company headquartered in Lincoln, Nebraska, for violating the SEC's whistleblower protection rules through the use of employee separation agreements. According to the SEC's order, between February 2020 and early March 2023, Monolith [...]

The Securities and Exchange Commission (SEC) has announced charges against nine registered investment advisers for promoting hypothetical performance on their websites without implementing the necessary policies and procedures required by the Marketing Rule. All nine firms have agreed to settle the charges and collectively pay $850,000 in penalties. The firms involved are: Banorte Asset Management [...]

The Securities and Exchange Commission (SEC) has taken action against Alfonse Gregory Giugliano, CPA, the former National Assurance Services Leader at Marcum LLP, a public accounting firm. Giugliano is charged with failing to adequately address and rectify numerous deficiencies in Marcum's quality control system. This action follows the SEC's previous charges against Marcum for these [...]

The Securities and Exchange Commission (SEC) has announced a settled action involving New York-based YieldStreet Inc. and its registered investment adviser subsidiary, YieldStreet Management LLC (together referred to as YieldStreet). This action pertains to the failure to disclose critical information to investors in a $14.5 million asset-backed securities offering. In September 2019, YieldStreet conducted an [...]

The Securities and Exchange Commission (SEC) announced that on September 5, 2023, the U.S. District Court for the District of Connecticut issued judgments against two entities, Ameritrust Corporation and Beespoke Capital, Inc., which, among other things, require the parties to pay over $20 million in the SEC's ongoing fraud case, initially filed in February 2023. [...]