The Securities and Exchange Commission (SEC) has issued charges against ten broker-dealer firms and one dually registered broker-dealer and investment adviser due to systemic and persistent failures by these entities and their personnel to adequately maintain and preserve electronic communications. The firms have acknowledged their wrongdoing, agreeing that their actions violated the recordkeeping regulations stipulated [...]

The Securities and Exchange Commission (SEC) has taken legal action by filing a complaint in the U.S. District Court for the Central District of California against Christopher Slaga and two entities under his control, namely Q4 Capital, LLC and J4 Capital Advisors LLC. The charges relate to an alleged fraudulent scheme involving the offering of [...]

The Securities and Exchange Commission (SEC) has successfully secured a conclusive judgment in relation to the case against defendant Austin Mahone. The SEC had previously charged Mahone with unlawfully promoting crypto asset securities Tronix (TRX) and BitTorrent (BTT) without revealing his compensation for these actions. The SEC's initial complaint, filed on March 22, 2023, in [...]

The Securities and Exchange Commission (SEC) has unveiled a resolution involving Theorem Fund Services LLC (TFS), a fund administrator situated in Boca Raton, Florida. TFS has settled charges for its failure to act upon red flags related to a fraud perpetuated against a private fund and its investors. The SEC's order reveals that TFS offered [...]

The Securities and Exchange Commission (SEC) has taken action against Canoo Inc., an electric vehicle company specializing in design and production, along with its former CEO, Ulrich Kranz, and former CFO, Paul Balciunas. The charges are linked to inaccuracies in revenue projections and misconduct concerning undisclosed executive compensation in relation to a special purpose acquisition [...]

The Securities and Exchange Commission (SEC) has officially levied charges against Jose D. Rocha, a resident of Brockton, Massachusetts, for orchestrating a Ponzi scheme that targeted members of the Cape Verdean community in the Boston area. This fraudulent scheme involved Rocha collecting approximately $1.2 million from 13 investors. He assured these investors that he would [...]

The Securities and Exchange Commission (SEC) has announced significant legal actions involving Digital Licensing Inc., also known as "DEBT Box," a company based in Draper, Utah. The SEC has obtained a temporary asset freeze, a restraining order, and other emergency measures against DEBT Box and its four principals: Jason Anderson, Jacob Anderson, Schad Brannon, and [...]

The Securities and Exchange Commission (SEC) has taken legal action against Ustocktrade LLC and its proprietor, Anthony Weeresinghe from Chestnut Hill, Massachusetts, charging them with aiding and abetting a registered broker-dealer's repeated violations of the SEC's net capital provisions. These provisions are in place to ensure broker-dealers possess sufficient liquid assets to meet their obligations [...]

The Securities and Exchange Commission (SEC) has officially filed a complaint against Mina Tadrus and Tadrus Capital LLC, connected to an alleged Ponzi scheme. The SEC's filed complaint outlines that, from at least September 2020, Mina Tadrus and Tadrus Capital LLC have been engaged in the solicitation and sale of investments related to Tadrus Capital [...]