The Securities and Exchange Commission (SEC) has taken legal action against Alexander Elbanna and three entities under his ownership and control for their involvement in a fraudulent scheme related to unregistered offers and sales of crypto asset securities named "DWE" and "BPC." Additionally, Elbanna and one of his entities are charged with fraudulent private offers [...]

The U.S. District Court for the District of Oregon has issued final judgments against Robert D. Christensen and Anthony M. Matic, both residents of Oregon, along with their associated entities, Foresee, Inc., The Commission PDX, LLC, The Policy PDX, LLC, and Innings 150, LLC, for orchestrating a Ponzi-like scheme over multiple years. According to the [...]

The Securities and Exchange Commission (SEC) made an official announcement regarding the resolution of the case against Ryan Morgan Evans, the last remaining defendant involved in the "Saivian" Ponzi and pyramid scheme, and offering fraud, which amounted to a multi-million-dollar scam. As part of the settlement, Evans has agreed to pay $338,743, including disgorgement, prejudgment [...]

The Securities and Exchange Commission (SEC) has taken legal action against Chadd L. Evans from Fincastle, Virginia, for orchestrating a fraudulent scheme known as "free-riding." In this scheme, Evans attempted to profit by engaging in stock trading without actually paying for the stocks. According to the SEC's complaint, Evans carried out this fraudulent activity between [...]

The Securities and Exchange Commission (SEC) has taken action against Legendary Partners, LLC, a California-based company, and its founder, Scott L. Snyder, for orchestrating a fraudulent nationwide offering that ran from April 2018 to December 2021, raising approximately $391,000. The scheme involved promoting an investment opportunity in a startup that claimed it would produce a [...]

The Securities and Exchange Commission (SEC) has brought charges against Celsius Network Limited (Celsius) and its founder and former CEO, Alex Mashinsky, for violating registration and anti-fraud provisions of federal securities laws. The charges include failure to register the offers and sales of Celsius's crypto lending product, the Earn Interest Program, making false and misleading [...]

The Securities and Exchange Commission (SEC) has taken action against Joseph Michael "Mike" Todd, along with his entities Todd Financial Services, LLC (TFS) and TFS Insurance Services LLC (TFS Insurance), for defrauding at least 20 brokerage customers and misappropriating a minimum of $3 million. According to the SEC's complaint, Todd, who worked as a registered [...]

The Securities and Exchange Commission (SEC) has filed charges against Olivier Amar, the former Chief Growth Officer of Frank, for fraud related to the company's $175 million sale to JPMorgan Chase Bank, N.A. in 2021. Previously, Charlie Javice, the founder and former CEO of Frank, was also charged in connection with the same fraudulent scheme. [...]

Judge Peter Barbadoro of the United States District Court for the District of New Hampshire has issued a ruling against LBRY, Inc., a software company based in New Hampshire that issued crypto asset securities known as "LBRY Credits" or "LBC." The court order mandates LBRY to pay a civil penalty amounting to $111,614. Additionally, LBRY [...]